A property exhibition where buyers look for the best units and prices. The public can protect themselves by asking real estate agents for their tags.

THE Malaysian Institute of Estate Agents (MIEA) president Siva Shanker recently completed his two-year term on a high note after having led the institute over the period it trained 13,000 real estate agents to serve property buyers better.

Siva said within six months of its inception, the Real Estate Professional Seminars (REPS) received an overwhelming response.

This stands as a good indicator for the Malaysian property market, Siva said.

“We are a non-governmental organisation that is looking out for its members. We are doing all we can to help our registered real estate agents. All they (real estate agents) have to do is attend a one-day seminar with us and they can be recognised,” he said.

He also encouraged more real estate agents to be above board and not operate illegally.

“To date, we have approximately 21,000 registered real estate agents.

“However, there are as many, if not more, unregistered real estate agents in the country. There is a perception that the activities of illegal real estate agents are victimless crimes, but it is not so.

Siva says there are now 21,000 registered real estate agents in Malaysia.

“Registered agents are the victims as we follow the rules. The illegal brokers don’t abide by any rules and in most cases, buyers are also victims as they have to pay more for the property if they deal with illegal brokers.

“The government is also victimised because illegal brokers do not have to pay taxes. In the last 34 years, not a single illegal broker has been charged. We can’t seem to get the authorities to clamp down on them. A little enforcement is all we need,” said Siva.

The public can also protect themselves by asking real estate agents for their tags.

“The tags come with a QR code, which can be scanned. If the person is registered with MIEA, it will show in the system,” said Siva.

The immediate past president also expects this year to be better for all as real estate agents are expected to be busier.

“There is a perception in the market that property prices are falling. They are not. Prices are going up but on a smaller scale. We want slow steady growth over a long period of time instead of a sudden climb,” Siva added.