1) Why do I have to be a registered Real Estate Negotiator (REN)?
With effect from 1st June 2014, all Real Estate Negotiators must be certified and registered with the Board of Valuers, Appraisers, Estate Agents and Property Managers (BOVAEP). This is in accordance with the Board’s circular 4/2013 issued on 26th September 2013. It is against the law to practice or carry on any real estate related business and transactions without being first registered with BOVAEP. Upon conviction, illegal brokers may be fined not exceeding RM300,000 or imprisonment for a term not exceeding 3 years or both.
2) What is the procedure to become a Registered Real Estate Negotiator registered with the Board?
- In order for the negotiator to be registered, they are required to obtain a certificate of attendance for the NCC course provided by one of the recognised providers of the Board ie. Good Institute.
- Good Institute has been officially appointed by the Board of Valuers, Appraisers, Estate Agents and Property Managers to conduct this course.
- All attendees of the NCC course conducted by Good Institute will obtain a Certificate of Attendance issued by the Board bearing the signature of the Board president.
- Each Registered Estate Agent is entitled to submit a maximum of 50 negotiators using the prescribed form by the Board (Application for registration as negotiator) and other required documents (passport size photograph, copy of employment contract, certified copy of negotiator's IC and Certificate of Attendance) to the Board.
- Submission to the Board must be done by the registered real estate agency and not individually by the negotiators.
The Real Estate Agency needs to make the application to the Board with the following documents:-
- REN Application form
- IC size photo with white background
- Photocopy of IC
- Employment letter from Real Estate Agency
- Photocopy of Certificate of Attendance
Upon successful submission of your REN application to BOVAEP, BOVAEP will take approximately 7 to 14 working days to issue the REN Tag.
3) Why do I have to attend the Negotiator Certification Course (NCC)?
If you want to become a Real Estate Negotiator, you must attend the 2-day Negotiator Certification Course before you can join any real estate agency and be registered with the Board. Upon the completion of the course, you will receive a Certificate of Attendance from BOVAEP. With this certificate, you will be able to join any real estate agency and that agency will register you with the Board.
A REN Tag is an identification tag issued to Real Estate Negotiator (REN) issued by the Board of Valuers, Appraisers, Estate Agents & Property Managers (BOVAEP / LPPEH). It contains all the information including their name, photo, IC no, REN No, company name, company registration no, quick response code (QR) and security features. It is mandatory for this REN tag to be worn by the REN at all times during their conduct of business and the public is able to verify the information to ensure they are dealing with a registered Real Estate Negotiator.
5) What is the benefit of registering as a Real Estate Negotiator (REN) with the Board of Valuers, Appraisers, Estate Agents and Property Managers?
Each registered Real Estate Negotiator will receive a tag bearing the photo and details of the negotiator. This tag is to be worn at all times during the course of doing business. Each registered Real Estate Negotiator will be given a registration number. The public will also be able to verify the details via the Board's website.
6) Is the Good Institute recognised by the Board to conduct the Negotiator Certification Course (NCC)?
Yes. Good Institute has received the official approval and endorsement from the Board of Valuers, Appraisers, Estate Agents and Property Managers to conduct this course since 2013. All attendees of the course will receive a Certificate of Attendance awarded by the Board and signed by the Board President.
7) Why do past attendees strongly recommend Good Institute?
We prepare attendees for the actual negotiation work. Not only do we cover all the necessary syllabus, on top of that, we provide industry insight, hands-on negotiation and sales practice to the participants so that they are ready for practical work.
8) I attended the course conducted by Good Institute. Is there any validity date for me to register myself as a Real Estate Negotiator (REN)?
The Certificate of Attendance is valid for 12 months from date of issuance. You need to register with BOVAEP within 12 months of the issuance date. A REN tag will be issued to you by the board after you do the registration.
9) How can I or a member of the public do a check on my REN tag to see if I am a registered Real Estate Negotiator?
You can verify your REN details by scanning the QR code on the REN Tag, which will show all your information including photographs. You can also search the Board (LPPEH) website under Negotiator Search.
10) How do I know if the REN tag is genuine or fake?
Genuine REN Tag contains watermark security features. When you scan the Quick Response (QR) using a smartphone, it will feature the negotiator information. It is an offence to use a fake REN tag. Upon conviction, the offender may be fined not exceeding RM300,000 or imprisonment for a term not exceeding 3 years or both.
11) What happens if my REN tag is lost?
You may contact the board (BOVAEP) and apply for a replacement REN tag with payment of RM50 using the prescribed form.
12) What if a ‘REN’ I meet does not have a REN tag or his records does not show up on the board website search when I check?
He is an illegal broker. Stop dealing with him. Report him to the police immediately with full information. An illegal broker is liable upon conviction to a fine not exceeding RM300,000 or imprisonment for a term not exceeding 3 years or both.
13) Can I set up a real estate agency after attending the NCC REN course?
A Real Estate Negotiator (REN) cannot set up a Real Estate Agency after attending the NCC course. Only Registered Estate Agents can set up a Real Estate Agency in Malaysia. RENs are supposed to work under the direct supervision of a Real Estate Agent. Good Institute also provides classes to prepare you to become a real estate agent to open up your own real estate agency. Please contact us for more information.
14) Can I take the NCC if I am not attached to any real estate agency?
Yes you can. The NCC Certificate of Attendance is valid for 1 year. You can join any Real Estate Agency within 1 year from the date of issuance of the certificate.
15) How much is the course fee for NCC?
The course fee is RM600.00 nett and the fee includes the NCC Certificate of Attendance, NCC course materials, lunches & tea breaks.