tenny

Q.
Under what circumstances would a REA be removed from the Register of REA and Register of Firm?

A.
Section 25 of Valuers, Appraisers and Estate Agents Act, 1981 spells out the various situations where a REA […]

Q.Many a time, people ask me:”When I get my REA License, can I rent it out to someone to run an agency firm?”And, “How much I can get when I lease my REA license?”A. (Also posted at justLetak!)There are two […]

Q.
In VAEA Act, 1981, what are the sections and subsections that regulate disciplinary actions against REA? What are the differences among these sections.

A.
Section 24 and section 30 are the two major […]

Q.When 3 REAs and 1 Valuer came together to set up a firm, they hold 25% of shares each in this Sdn Bhd.One day, one of the REA is found guilty of cheating a client a huge sum of money – RM1mio and having slapped […]

Q.
Under what conditions that the Board can cancel the registration of a Firm?

A.
Section 23 Practice by firms.

(4A) Notwithstanding subsection (2) or (4), the Board shall cancel the registration of a firm […]

Q.
What happen to me as a client when my REA is dead or being removed from the register or suspended by the Board?

A.
Section 23 Practice by firms – has subsections on ‘dead’, ‘removal’ or ‘suspension’ of […]

Q.Ajunan recently passed his TPC. He is now a registered estate agent in Part III, Item A of the Fourth Schedule, which is the Register of Estate Agents. Can he start his practice straight away?A.The straight […]

Q.
“Where on earth does it say I can be charged for the offence of being a unlicensed broker?” Ah Beng told to Johnny who is annoyed by the way Ah Beng is soliciting to sell Johnny’s house.

A. (Also posted in […]

Q.There are so many sections under VAEA Act, 1981. Can you tell me which sections are important?A.S.14 RegistersS.15A Application for authority to practise.S.16 Authority to practiseS.22A Registration of estate […]

Q.What are the functions and responsibilities of Board of Valuers, Appraisers and Estate Agents?A.Functions of the Board10. The functions of the Board shall be—(a) to keep and maintain a Register of Valuers, A […]

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 any lan […]

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 at Section 22A (registration of REA) […]

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 its Section 22A.

22A. Registration […]

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 form to complete is Form P. Within […]

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 25I govern the requirement to […]

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 […]

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 paid 8 months ago and yet, the transfer of the title has not […]

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 to sell his current house and it happened that Angel […]

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 client’s account are Rule 52 and […]

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 shall not be under an […]