Real Estate License FAQs
Real Estate License FAQs
1) Who are Real Estate Agents?
Real Estate Agents are professionals who act as intermediaries between sellers and buyers of real estate/properties. The estate agent assists buyers to source for properties and markets properties for owners. In Malaysia, real estate agents may act on behalf of both vendor and purchaser and earns a professional fee for each successful transaction he completes be it property sales or rental. A Real Estate Agent has an Estate Agency license awarded by the Board and may recruit between 20 (under revision to 50) Real Estate Negotiators to engage in property transaction for his firm.
2) How do I become a Real Estate Agent?
Please refer to this link. In short, you need to register for the Estate Agents Examinations set by the Board of Valuers, Appraisers and Estate Agents Malaysia (LPPEH). You must obtain a pass in all 11 subjects of the exam. Upon passing the estate agent's examination, you need to register as a probationary estate agent and pass the Test of Professional Competence. You will receive your real estate license upon completing these steps. Good Institute currently provides the best preparation course for the real estate license in the market. Call us now at 03-5661 9671 to find out more.
3) Why do I need an Estate Agency License?
The Estate Agency License increases confidence of clients. It is a recognition by the Board that the individual's knowledge and skills have reached a professional level. License holders may setup their own agencies and receive full compensation for their own transactions. Individuals who wish to practice without a license may join a real estate agency as a real estate negotiator. They however will be required to pay a significant portion of their professional fees to the agency. They are also not allowed to recruit personnel.
4) How long does it take to complete this course?
Candidates may complete the course as fast as 1 year and take up to 5 years to complete it after the new ruling is gazetted.
5) Who awards this Diploma?
The Board of Valuers, Appraisers and Estate Agents in Malaysia. They are the ones who prepare the Estate Agency Diploma Examinations as well. We assist students to excel in this exam by providing lectures, past year Q&A and study materials.
6) Why should I enrol with Good Institute?
Our Real Estate Diploma course is developed by lecturers and industry practitioners with an average of 25 years experience. Candidates are assured of its quality. We also provide a flexible schedule for both part time and full time students, where classes are repeated weekly ensuring busy candidates having a few options to choose from for each lecture.
7) When is the deadline for your course intake?
We have intakes all year round with majority of students joining us in June, September and December. Although the deadline for the real estate exam registration is generally in May every year while exam is held in July, candidates interested to succeed would have started their preparation at least 6 months before the exam.
8) What is the new syllabus for the Estate Agents Examination?
It is an improvisation of the previous syllabus that has been in use since 2005. The new syllabus is undergoing review and major changes have been proposed. It is currently awaiting to be gazetted.
9) Can I study this course Part Time?
Yes. Good Institute provides courses on both full time and part time basis.
10) When will I receive my Diploma?
Candidates receive their Diploma in Estate Agency certificate upon passing all the 11 subjects. A convocation is held each year for this award ceremony.
11) What do you provide within your Real Estate License Diploma course?
We provide you the best lectures, concise study materials inclusive of past year Q&A and past year exam analysis. Should you have any questions after lecture, you may also access our online forum to post questions for discussion. All this help ensure you are fully prepared for the Malaysia real estate license diploma examination set by the Board of Valuers, Appraisers and Estate Agents in Malaysia.
12) What subjects are covered in this real estate course?
The subjects are Accounting, Property Tax, Marketing, Intro to Law, Economics, Building Technology, Land Economics, Valuation, Estate Agency Practice, Professional Practice and Laws Relating to Property. Candidates must pass all 11 subjects to complete this Diploma. Exemptions may be available to qualifying candidates.
13) What is this crash course and trial exam that I hear my friends talking about?
The crash course and trial exam is a special preparation program we provide to all of our students. The classes are held for 2 months before the board's examination to provide full revision to students and also giving them a chance to experience how the real estate examination is conducted.
14) Do you have both part time and full time classes?
We have class timings that suit both part time and full time students. Students may choose weekday classes (Mon, Wed, Thu 10am-1230pm), weeknight classes (Mon, Wed, Thu 7pm-930pm) or weekend classes (Saturday 930am-12pm, 1-330pm and 4-630pm). There is also the flexi class option allowing students to repeat classes they missed.
15) What is the entry requirement for the real estate license diploma examination?
The real estate board (LPPEH) has stated that the minimum entry requirements are 5 passes in SPM with 3 of them being credits. One of the credit subjects must be Mathematics, Science, Accounts or Commerce. Candidates with other qualifications may also check with the Board on whether they can use that certificate as entry requirement.