KUALA LUMPUR: Those with complaints against unscrupulous real estate agents and negotiators should raise the matter with the Board of Valuers, Appraisers and Estate Agents.
Deputy Finance Minister Datuk Chua Tee Yong, who said this, added that there were 30 to 40 cases of unethical practices reported against both parties fortnightly.
“Many cases can be resolved by the committee managing the complaints. We want the public to know that there is redress,” he told reporters after launching the board’s new office here yesterday.
Chua said the board would refer to the police if the issue concerned illegal real estate agents, adding that such matters were beyond its purview.
Issues included agents not returning deposits or misrepresenting property specifications, he added.
However, Chua said the number of complaints was not alarming as there were 2,000 agents and 16,000 negotiators in the country.
At the event, 16 business valuers from the Valuation and Property Services Department and 23 valuers from the private sector received their International Certified Valuation Specialist credentials.
Later in Putrajaya, Chua said long-term foreign investors remained confident with Malaysia, as shown in the increase in foreign direct investments (FDI) in the first half of the year.
“The FDI for the first half of 2015 stood at RM22.3bil, an increase of 25% compared to the first half of last year, which was at RM17.87bil.
“It is important for us to be conscious about the state of the economy in these trying times. We should be helping the economy, not creating new issues,” he said.
Chua also said that small and medium enterprises, especially in the manufacturing sector, should move towards modernisation and automation to cut dependence on foreign labour.
