KUALA LUMPUR (March 14): The Malaysian Institute of Estate Agents (MIEA) has extended its thanks and support to the Royal Malaysia Police (PDRM) and the Board of Valuers, Appraisers, Estate Agents and Property Managers (BOVAEP) for a recent raid on the premises of a cooperative for allegedly conducting the business of real estate agency illegally.

MIEA president Lim Boon Ping said this form of “natural justice” action has been long overdue and the institute looks forward to BOVAEP taking stringent measures as there were thousands of other suspected illegal real estate agents and businesses across the country.

“There are illegal project marketing firms and individuals who act as illegal brokers in land sales, brokers who use the yellow signs on lamp posts, those who do rental transactions in the name of providing insurance premium, and many more.

“It is indeed a big move by the commercial crime division of PDRM to act on these illegals by investigating and charging them under Section 30A and Section 30 of the Valuers, Appraisers, Estate Agents and Property Managers Act, respectively,” he said in a statement today.

In support of BOVAEP and PDRM’s efforts, MIEA has also launched its own public awareness campaign called #MYREALAGENT to educate the public on the dangers of using illegal brokers and the benefits of using professional, trained and skilled registered estate agents and negotiators.

News Source: EdgeProp, 14th March 2020.

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