Thomas Sim E3009

Q.
Can a REA privately help his friends in transaction of property when

a) he is employed as a resident manager of an Agency Firm?

b) he is employed by an organisation NOT related to estate agency […]

Q.What if I want to set up an agency with a non-REA, can a REA do that? What about a branch office? Do I need a resident REA? How about if he suddenly resign?A.Ref:MIEA website Frequently Asked […]

Q.
Which Act says they are Illegal Agents or Brokers? Provide and support with the law which can be enforced against illegal agents or brokers.

A.
Part VIII of the Valuers, Appraisers and Estate Agents Act, […]

Q.
Write about the requirement of practical experience to be qualified for Test of Professional Competence in Estate Agency.

A.
The Rule 45 Practical Experience provides the requirement of 2 years of […]

Q.List down the exemption route equivalent to Estate Agent’s Examination.A. (Also posted in justletak.blogspot.com)Exemption RouteRule 43 Exemptions(1) The Board may accept the examinations of institutions of […]

Q.
List down the examination requirements to qualify as Registered Estate Agent.

A. (Also posted in justLetak!)

Examination

Rule 29 Conduct of examination

(1) The Board shall conduct examinations for […]

Q.
John discovers his co-agent Huang is hiding something from him. The purchaser in fact had already seen John on the viewing of bungalow. Now, Co-agent Huang said he deserves the commission. Advice […]

Q.

What are the obligations of developer to purchaser of a strata unit of a condominium project?

A.
See here on Duties of Developer in SPA.

Developer requires to adhere to the regulation by […]

Q.Who is the party to decide the value of the property I bought so that I can pay the stamp duty?A.The valuation of the property is by JPPH – Jabatan Penilaian dan Perkhidmatan Harta, but the authority to collect […]

Q.
List down the duties of Developer in Sale and Purchase Agreement (SPA).

A.
Obligations in Schedule H by Developer.

Background
Housing developers in Peninsular Malaysia are mainly governed by the […]

Q.Explain the stages of a Developer in a housing development project.A.GENERAL OPERATION OF THE INDUSTRY A property developer is a person or company that engages in or carries on or undertakes or causes to be […]

Q.
b) Explain the necessity of co-agency arrangement among estate agency firms. (5 marks)

(20 marks, 2014 Q7b)

A.
(Part 1 on Agent’s agent also involves sub-agents, who are like RENs. However, here we […]

Q.
Sale by tender, what are the advantages and disadvantages?

A.
Refer earlier posts on tender below:

2012 Q8
2013 Q7
2014 Q3
2015 Q6
Tender – advantages and disadvantages (This Question)
Private […]

Q.
Deliberate on the effects and consequences of non-performing by the parties involved towards these obligations and the possible remedial action that can be taken.

A.
The original question is here. Much of […]

Q.Describe the process of conveyancing from Vendor agreeing to sell a property to a purchaser, assuming that the property is a subsale and with title. What would differ, if it is a property without title?A.The […]

Q.What is the meaning of ‘caveat emptor’?A.Except for a few instances, the general rule when it comes to buying anything is caveat emptor – let the buyer beware.Caveat emptor /ˌkævɛɑːt ˈɛmptɔːr/ is Latin for […]

Q.
Give the various types of mode of sale, private treaty, auction, informal and formal tender.

A.
See also:

2012 Q8
2013 Q7
2014 Q3
2015 Q6
Tender – advantages and disadvantages
Private treaty, […]

Q.
(b) Discuss three (3) disadvantages of the private treaty mode of sale of property to the prospective purchaser. (10 marks)

(10 marks, 2015 Q6b)

A.

2012 Q8
2013 Q7
2014 Q3
2015 Q6 (This […]

Q.

List down some of the unethical practices you know about the real estate industry.

A.
11 Of The Sleaziest Real Estate Practices
By Gary Lucido, August 14, 2011 at 2:50 pm

If you ever wondered to […]

Q.Real Estate Market is Inefficient, why?A.The real estate market is inefficient in terms of information required to apply economic models. Several examples illustrate this limitation.Market is private and […]