How To Buy Property From A Property Agency

One of the method of buying a property in Malaysia is through a property agency. They are also know as the Estate Agent’s office. These offices are scattered throughout the country and are manned by Registered Estate Agents.

Registered Estate Agents are estate agents registered by the Board of Valuers, Appraisers and Estate Agents, Malaysia. Their activities and conduct are controlled by the Board. They are legally registered to practice, have an identification card issued by the Board which they are required to show to clients when required, and always use their registration number i.e. E002, E0139 etc. in advertisement, letter of offer etc.

These agents have what are called “listings”, i.e. properties that their clients have asked them to sell. They have all the information on those listings and can enlighten you about the property you are interested in. They even take you to the property and show you around. If you decide to buy the property, they will arrange for you to meet the owner after which terms can be agreed. Sometimes terms are agreed by the agent before the owner appears on the scene.

It is recommended to always make use of a registered estate agent. The reason why you should deal with a registered one is that should there been any complaint, you can make such complaints to the Board which will look into the matter. If you make use of an unregistered one, you will have no remediation if anything should go wrong. All you can do is notify the Board of the activities of the unregistered estate agent and let the Board process to prosecute the agent.

Note that the registered estate agent cannot charge you a fee if you are making use of his listing. His fee comes from his client. He can, however, charge you a fee if you engage his services to find a house for you. In the case, you are his client. By using the services of a property agency, if will save you time from searching the ideal property to purchase.