Who Is Real Estate Negotiator Ren?

Our sessions are highly rated and recommended by past attendees. Throughout the course, negotiators are trained in all the necessary to do well in this industry. I can just start marketing my services on social media or word of mouth.

“Generally, it takes a minimum of two years to obtain the diploma from BOVAEA,” he says. After obtaining the diploma, candidates are required to undergo two years of practical training under the supervision of an REA and submit their work log to BOVAEA. Upon the completion of the practical training, the probationary REA must then attend an oral interview conducted by BOVAEA.

Given their seniority, a Real Estate Agent is required to possess the necessary academic qualifications and meet the minimum experience, standards and expertise set by BOVAEA. This includes the Real Estate Diploma Course, a comprehensive set of examinations where there are 12 papers altogether. Applicants will have to obtain a pass for all 6 papers in Part 1 before being allowed to proceed with Part 2.

Against a population of over 31 million people, the ratio is one estate agent to every 12,415 people,” he notes. Now I can improve my sales skills after getting more knowledge and information about the sale and rental process. Good Institute is approved by the Board of Valuers, Appraisers, Estate Agents and Property Managers Malaysia to provide the NCC and we have been providing it since its inception.

Illegal brokers who put up ads and commit any other offence under Section 30 of Act 242 is liable upon conviction to a fine not exceeding RM300,000 or imprisonment for a term not exceeding 3 years or both. It is mandatory for all REN to wear the REN tag during the course of doing business and it cannot be replaced with any other company tag. It is an offence for someone to imitate and produce something similar to BOVAEA REN Tag. Check out our featured new launches by the top property developers in Malaysia.

Graduates are eligible to apply to be probationary estate agents and sit for the Test of Professional Competence. EDRE graduates are also exempted from Part 1 and Part 2 of the BOVAEA Estate Agent Written Examination. This figure applies to other services rendered by the firm, such as a joint venture, sale of company and property swap. For chattels including plant and machinery, a fee of 10% on the proceeds is chargeable. “At present, we are in severe shortage of REAs in the country.

Do you hear that siren’s call beckoning you to start a career in the real estate industry? Buying and selling properties can be both rewarding and difficult. The high-flyers bring home six-figure salaries, some earn just enough, while others only get a few thousand per year.

This is because an REA has the authority or licence to set up his or her own agency firm. The said authority that is vested on the REA also permits him or her to recruit up to 30 RENs to work under him or her. “As such, the academic qualifications gained are essential because they ensure that the REA is trained and well-versed in property-related fundamental knowledge,” he stresses.

The Certificate of Attendance is only valid for 12 months from date of issuance. Failure to register with BOVAEA within 12 months of issuance shall render the certificate invalid.

With the certificate, they can seek employment either on a ‘Contract of Service’ or ‘Contract for Service’ with a Real Estate firm. A research done by Hays Asia back in 2020 revealed that 46% out of 900 Malaysian employees are unhappy in their current jobs. Most say that the reasons for their dissatisfaction is due to their salaries, lack of career progression and that they are looking for a job that offers them new challenges.

“This is because they don’t want to be tied down to a nine-to-five office job, as there is freedom in working during weekends or evenings . Also, it is about taking charge of one’s own life and becoming one’s own boss. A third reason is to achieve financial independence quicker as the monetary returns depend on how hard one works. “Should an REA have no plans to establish his or her own firm, he or she may join other agencies which could utilise his or her REA licence to increase the firm’s REN recruitment. Also, an REA is also entitled to a higher commission rate than an REN,” explains Lim. By subscribing, you consent to receive direct marketing from iProperty.com Malaysia Sdn Bhd , its group of companies and partners.

In the long run, this will expand your circle and broaden your social connections. As a real estate negotiator, social connections are vital because word-of-mouth is one of the most reliable sources of referrals. REN Tag is an identification tag issued to real estate negotiator . It contains all the information including their name, photo, IC no, REN No, company name, company registration no, quick respond code and security features. This tag must be worn by the REN at all times during their conduct of business.

You also accept iProperty’s Terms of Use and Privacy Policy including its collection, use, disclosure, processing, storage and handling of your personal information. “There is also no retirement age — one can work for as long as one wants to. And last but not least, currently there are very few REAs in the industry, so the demand is really very good,” says Tan.

Also, illegal ads verified by BOVAEA will be followed up with a communication to the Malaysia Communication and Multimedia Commission who will then suspend and bar the mobile number. The exams will be followed by 2-year working experience with an existing agency as a Probationary Estate Agent and finally sitting for the oral test of professional competence . Detailed information pertaining to the procedure involved can be found at the BOVAEA official website. More than 20 exclusive projects for you to built sales & team. You need to obtain a letter from your firm to confirm the lost.

Course attendees love our course as it is practical, fun, and informative. The BOVAEP certificate will be provided at the end of the course which enables attendees to obtain a REN tag and REN number. The public can easily cross-check any REA’s or REN’s identity through the official BOVAEA website. One of the factors to consider when selecting your future job is to understand the dynamic of the people who currently work there.