Property Agent in Malaysia
Everyone has different reasons why they think becoming a property agent is the correct career choice for them. They enjoy helping people buy the perfect home, reaping from the benefits of earning large earnings or exploring the real estate market’s excitement.
But, one question consistently comes from people looking to enter the real estate industry: “How do I become a real estate agent, and what do I need to know?”
1. The Difference Between Real Estate Agents (REA) and Real Estate Negotiators (REN)
Before starting writing any chapters on life as a property agent, the first step is to understand the differences between a real estate negotiator and a real estate agent.
Real Estate Negotiator (REN)
Individuals work alongside licensed real estate agents (REA) but do not have full qualifications and accreditation. Real estate negotiators are still accredited in their own way and must be registered with the Board of Valuers, Appraisers, Estate Agents, and Property Managers (BOVAEA).
They must attain the following requirements to be employed by the Real Estate firm; they must attend a two-day course on Real Estate and be issued a certificate of attendance. With the certificate, they can seek employment on a ‘Contract of Service’ or ‘Contract for Service’ with a Real Estate firm.
The real estate agency associated with them will apply for the REN Tag with the BOVAEA.
BOVAEA will certify and designate a REN number & issue a tag to the REN. Only then can the firm employ the REN and represent sellers, landlords, buyers & tenants in selling and marketing properties.
Real Estate Agents (REA)
are individuals who attend two years of courses to attain a Diploma in Estate Agency, and two years of practical training under the supervision of a fully qualified REA, moderated by BOVAEA.
After that, the agents will submit a work log of their experience to the BOVAEA for appraisal and approval.
2. The Career Life of a Property Agent
Do you like chatting with people and visiting houses? You love talking to people about real estate, their lives, and family by becoming an agent. They love meeting people, bringing people together, and getting what they want – resulting in a lot of negotiation and relationship building.
Do you enjoy a bit of flexibility and color variety?
You do not need a physical office to return and leave every day. Your office has many possibilities, from a coffee shop to your favorite Kopitiam, with most of the necessary tools you need being on a smartphone, tablet, or laptop.
Do you enjoy helping people from all walks of life?
Many real estate consumers don’t know much about the industry – as a property agent, who can provide advice for packing and moving, cleaning and repairs, inspections and appraisals, financial assessments, and property analysis.
Do you enjoy being your own boss?
However big or small, the growth of your business is in your hands. By being your own boss, you decide how many clients or transactions you want to handle, how to market yourself and your listings, and how to serve your clients.
Do you want to learn many opportunities?
The real estate profession isn’t just about real estate. It also involves economics, regulations, construction, design, psychology, strategy, appraisal, environmental issues, marketing, and negotiations.
Realtors are always learning new things and improving their skills and processes.
3. Choosing The Right Platform
The process of picking an agency can start early, as it is required that you be affiliated with an agency when you take your REN license exam. Don’t let the process of finding the perfect agency intimidate you.
Understand the company’s commission system before joining. Does the pay come on time, have there been any delays, will the company deduct the commission without reason, etc. Don’t simply choose a company without doing any sort of research, online and offline included.
Training and Support
In the real estate market, you need to ensure you continue learning and improving yourself to become the Top Dog of Sales. Find an agency that provides a wide range of training that helps you grow as a person and an agent, such as building self-confidence, self-grooming, mastering successful sales skills, and exploring digital marketing.
A Growing Environment
When you find a company with a positive vibe and a happening environment, it can encourage the REN to challenge themselves and have more momentum to achieve a better result for a better future for themselves.
The last and most important part for any agency; how is reliability? Before you become a REN, make sure you join a company with a support system to take you further and beyond.
The better the reliability, the better is their management system which results in stable growth and minor problems.
4. Training You Need to Become a Real Estate Agent
The journey of becoming a property agent can be officially explained on the BOVAEA website, which can be broadly broken down into;
REN will need to pass the Negotiator Certification Course (NCC), which takes roughly two days before BOVAVEA can recognize them. You will learn a broad range of topics in those two days, such as real estate law and economy, property management and valuation, accounting, and more.
5. Finally, Apply for The Real Estate Negotiator (REN) License
You will need to attend a compulsory two-day course in Malaysia before registering as a Real Estate Negotiator (REN).
As of 29 May 2014, the BOVAVEA has decided to standardize the two-day course module for the negotiator’s certification exercise. They are required to certify with the Board to conduct real estate transactions.
This is part of the board’s effort to improve professionalism and weed out illegal brokers.
In conclusion, becoming a real estate agent in Malaysia requires either becoming a Real Estate Negotiator (REN) or a Real Estate Agent (REA). The first step to entering this field is understanding the differences between these two roles. RENs must attend a two-day course on real estate and be issued a certificate of attendance, while REAs attend two years of courses to attain a Diploma in Estate Agency, followed by two years of practical training under the supervision of a qualified REA. A career in real estate agency can be rewarding if one enjoys chatting up people, negotiating, relationship building, and working in an industry that offers numerous opportunities for learning and growth.
What Is Real Estate Management?
Real estate management is the management company that helps manage daily operations of any type of rental property including residential rental or commercial real estate.
What Is Property Development?
Property development is the process of real estate development to develop buildings or land into higher use-value.
What Is Property Valuation?
Property valuation is the process of evaluating how much the property would be worth it if we want to place it on the market for sale or is known as real estate appraisal.
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