KUALA LUMPUR: BOVAEA Estate Agency Practice Committee (EAPC) will work with the relevant government agencies to trace and bring the illegal real estate brokers to justice.
In a statement yesterday, EAPC chairman, Eric Lim Chin Heng, said this followed the increase in the number of cases of illegal brokers who claimed to be agents without the authority to practise and provide services to clients.
“An estimated 50,000 illegal real estate brokers are duping innocent Malaysians into parting with their hard-earned money.
“These unscrupulous characters impersonate property investors, developers’ representatives, community leaders, unregistered salespersons, foreigners and even housewives to earn quick cash every day,” he said.
Lim said the latest case occurred last week when a certified negotiator discovered his photograph was printed on name cards under several different companies that were distributed to unsuspecting shoplot owners.
“Their clients were duped into paying the fees for the necessary rental and sales deposits.
“We are afraid the number of cases will increase with desperate property owners trying to cope with the slowdown in the property market,” he said.
Lim advised potential property buyers or sellers to check the tags instead of relying on the name cards alone to avoid being at the losing end.
“There is a Quick Response code on each tag so customers can scan the code with their smartphones to find out the background of the agent, the firm they represent, their REN No and their identity,” he said. The Valuers, Appraisers and Estate Agents Act states that those who abet an illegal agent can also be fined RM300,000 or face three years imprisonment or both. — Bernama