Regardless of whether you are buying or selling a house, if you do not have a wide network of contacts, you generally need to use a real estate professional to help you find sellers, buyers, landlords or tenants. Like other industries, real estate has many different professionals who specialize in different aspects of the industry. A real estate negotiator and real estate agent are qualified professionals with appropriate accreditation to work in the industry. In Malaysia , when we talk about real estate agents, we are actually talking about real estate negotiators or REN for short, and when we talk about realtors, we are actually talking about REA or registered real estate agents.
A real estate negotiator (REN) is an individual employed by a registered real estate agent. They are not registered with the board of directors, but have obtained the qualifications to practice. They must meet the following requirements to be employed by a real estate company;
They must attend a two-day real estate course and will receive a certificate of attendance. With this certificate, they can find a job in the "service contract" or "service contract" of the real estate company. Then, the real estate company will apply to BOVAEA for the REN label.
BOVAEA will certify and assign a REN number and issue a label to the REN. Only in this way can REN be employed by the company and represent sellers, landlords, buyers and tenants in the sales and marketing of real estate.
First of all, we need to clarify one thing. All real estate professionals need to be registered under the Board of Valuers, Appraisers and Estate Agents (BOVAEA).
A real estate negotiator (REN) is a person who is employed by a company or signs a contract with a company to list and sell real estate under the supervision of a registered real estate agent. This means that the negotiator cannot work independently and must be supervised by a real estate agent.
The process of becoming a qualified REA includes the follwing parts. First roughly two years of courses to attain a Diploma in Estate Agency, once again moderated by BOVAEA; Once the Diploma is completed, a trainee REA must undertake two years of practical training under the supervision of a fully qualified REA. After that, it's a submission of a work log of their experience to the BOVAEA for appraisal and approval at the end of this period.How to differentiate a real estate agent and a real estate negotiator in Malaysia? About four years of your life, a lot of coursework, some significant practical experience, and a final oral exam on top! A REN will have a name tag which is red; a REA will have a name tag that is blue.
Step 1: Pass the first part and the second part of the real estate agency written test held by BOVAEP, or obtain a diploma or degree from a higher education institution recognized by BOVAEP. The general requirement to register for these courses is that you must be a Malaysian citizen or permanent resident (PR) holder and have at least three credits (mathematics, science, business or account) and two pass SPM certificates.
Step 2: Register as a trial real estate agent (PEA) with BOVAEP. You must receive 2 years of practical training under the supervision of the REA (Supervisor). Those who have a degree approved by BOVAEP, the internship period is 1 year.
Step 3: After the internship training is over, you need to submit the following materials to BOVAEP:
Task 1-About the agent
Task 2-About the real estate marketing proposal
Step 4: Register for the Professional Ability Test (TPC).
Step 5: Attend an oral interview conducted by the BOVAEP interviewer panel.
Step 6: After passing the TPC, BOVAEP will grant the right to practice and issue a certificate after receiving the required fees.
Step 7: You are now eligible to become a registered REA.
UCSI College has collaborated with Hartamas Academy to launch the Real Estate Administration Diploma (EDRE), which is recognized by BOVAEA and the Malaysian Qualification Agency. One person can complete and graduate the EDRE diploma (full-time) in two years.
In Malaysia, the commission system for real estate negotiator is the same as that of real estate agents.