KOTA KINABALU: There are between 50 and 60 licensed real estate agents in Sabah employing up to 600 registered negotiators, said Malaysian Institute of Estate Agents (MIEA) Sabah branch chairman Victor T.K. Wong.
However, the number of unregistered negotiators in the state is estimated to be close to double the figure of their registered counterparts.
“We estimate there are between 800 and 1,000 unregistered negotiators in Sabah,” Wong said in a press conference here yesterday.
Hence, he urged unregistered negotiators to attend the Negotiators Registration Seminar at Sabah Golf and Country Club here on May 26, from 8.30am to 6am.
The event is organized by MIEA on behalf of the Board of Valuers, Appraisers and Estate Agents (Bovaea) under the purview of the Ministry of Finance.
Registration fee is RM450 and those who are interested can call MIEA Sabah branch treasurer Mary Yu Yen Tshin at 019-8218798.
The seminar will feature two speakers, namely MIEA president Siva Shanker and past president K.Soma Sundram from Peninsular Malaysia.
This is the third Negotiators Registration Seminar organized by MIEA Sabah; the first was held last December and the second in January which were attended by 288 negotiators in total.
“We expect between 50 and 60 participants to turn up for this coming event and we hope negotiators who have yet to register will come forward.”
Wong pointed out that negotiators who registered themselves at the seminar would still have to work under a licensed real estate agent, meaning they were still not allowed to operate a real estate agency.
To become a licensed real estate agent, one must have passed estate agents examinations, worked full time with a licensed real estate agency for two years, submitted two task papers to Bovaea and finally passed an interview with Bovaea.
A licensed real estate agent can employ up to 20 real estate negotiators to assist them in carrying out their business.
Under Section 30 of the Valuers, Appraisers and Estate Agents Act 1981, real estate agents found operating without a licence will face a fine not exceeding RM300,000 or imprisonment not exceeding three years, or both, upon conviction.
Apart from the Negotiators Registration Seminar, MIEA also collaborates with Open University Malaysia (OUM) in offering Professional Diploma in Estate Agency programme.
Also present were MIEA Sabah branch immediate past chairman Stephen Wong, deputy president Henry Tai, secretary Soo Yuen Mee and treasurer Mary Yu.