Q.What are the functions and responsibilities of Board of Valuers, Appraisers and Estate Agents? A.Functions of the Board 10. The functions of the Board shall be— (a) to keep and Read More …
Category: 2.2 Estate Agency Law
What is Property Management?
Q. What is “Property Management”? A. Section 2 Interpretation of Valuers, Appraisers and Estate Agents Act, 1981 spells out what it means: “property management” means the management and control of Read More …
Registration requirements REA vs PEA
Q. What are the requirement differences between PEA and REA? Is there some extra knowledge or character requirement before a PEA can be registered as REA? A. Let us look Read More …
Registration of Estate Agents
Q. Under what conditions can a person be registered as a Registered Estate Agent (REA) in Malaysia? A. The VAEA Act, 1981 spells out the registration of estate agent in Read More …
Renewal of Authority to Practise as an individual REA
Q. List down the procedures for application to renew Annual Authority to Practise as an individual REA. A. See here for Renewal of Authority to Practise as a firm. The Read More …
Renewal of Authority to Practice as a Firm
Q. List out the procedure to renew annual ‘Authority to Practice’ for a registered firm by REA. A. Renewal of Annual Authority to Practise as an individual go here. Rule Read More …
Indemnity Insurance for REA
Q. What is the indemnity insurance for REA? A. From website of LPPEH – propertyagent.gov.my, Professional Indemnity Insurance Every registered firm is also required to purchase a Professional Indemnity Insurance Read More …
Interest on saving in the client’s account
Q.Can I ask from my REA the interest of RM80,000 which I have given to him as 10% payment for the purchase of a shoplot costing RM800,000? It has been Read More …
Inter Client account transfer
Q.Angel who is my partner’s client has a house for sale. At the same time, she is also looking for an upgrade to a bigger house. Recently, John contacted me Read More …
Client’s account moneys forbidden shall not and not obligated
Q.What are the varied level of control over moneys not supposed to be entered into client’s account? A.The rules providing guidance on what is not allowed to be remitted into Read More …
Exceptions from using client’s account
Q.What are the EXCEPTIONS as to the rules in transactions of moneys into or out of the client’s account?A.Rule 54 Exception.(1) Notwithstanding the provisions of these Rules a registered firm Read More …
Withdrawal from client’s account 2
Q.In what format can money be withdrawn from client’s account? A.Rule 53 (2) of Valuers, Appraisers and Estate Agents Rules 1986 states- 2. No money (drawn) from a client’s account Read More …
Withdrawal from client’s account 1
Q.In what conditions can monies be withdrawn from a client’s account? A.2014 Q7 is further elaborated below. Rule 53 of Valuers, Appraisers and Estate Agents Rules 1986 has the following Read More …
Probationary period of REN
Q.A realty firm engaged a REN with a probationary period of 6 months. However, this REN caused the trouble of running away with his client’s earnest deposit. The client complained to Read More …
When another REA is at fault
Q.What is your response when you heard your client complaining about the wrongdoing of another REA in your area? Should or should not you look into your client’s grievances, and Read More …
Advertisement appropriateness
Q.Comment on the Advertisement below. [Logo of LPPEH] BUNGALOW for Sale! Guaranteed Capital Appreciation!Below market Value! Location – at the suburb Bangsar, amazing view to the city. Asking price: RM3.8 Read More …
Advertisements can or cannot
Q.Johan is a newly licensed registered estate agent. There are three scenarios he has been approached by the Developer to participate below; the same developer to whom Johan had very Read More …
Remembering the Standards and Rules 1
Q.How to remember all that MEAS (Standards) and Rules in VAEA 1986? A.The 3-in-1 & 4-in-1 method. MEAS1. O = Office2. N = Negotiator3. T = Types of Appointment 4. Read More …
Acting for 2 parties
Q. Why acting for two parties is not allowed in Estate Agency? A. Rule 93 Acting for 2 parties. (1) A REA shall not act for one party to a Read More …
Consultation fee on top of commission
Q.Can a firm of Estate Agency demand consultation fee on top of the commission for a transaction with its client? What are the regulation allowable for such action? A.Below refers Read More …