It has been more than a year since I joined the real estate industry in November 2015. Since then, people have been asking me how to become a real estate negotiator and what does it take to become one.
Before joining the real estate industry; by default, one has to choose a real estate agency to be associated with. I chose Reapfield Properties (Taman Sea) Sdn Bhd. Why Reapfield Properties? I believe that Reapfield Properties is a reputable and established real estate agency with a long history and many branches throughout Malaysia. Furthermore, considering its an established agency; it already has a strong culture and support system for the real estate negotiators and agents. Why Reapfield Properties (Taman Sea)? I always believe that when choosing a job, the location of the office plays a very major role in a career. One has to take into consideration the hours spent travelling to and from office for meetings, events, and submission of cases. The closer office is to home, the more time is saved on the road and does not become a time cost. Therefore, for me, Reapfield Properties (Taman Sea) is closer to home.
Those are my opinion. However, to help you formulate an objective opinion, I’ve added a table below to give a comparative analysis of the different types of real estate agencies.
After joining Reapfield, I attended a 4 days training course to get my license to practice as a registered real estate negotiator. People from various backgrounds and professions attended the training: housewives, teachers, lawyers, bankers, etc. We learnt about the real estate industry from a macro perspective, the relevant laws and statutes governing the industry, the ethical practices of a real estate negotiator, etc. After four years in Reapfield, today, I’m a Senior Real Estate Negotiator (REN) in IQI Realty Sdn Bhd.
Yet, time and again, people often ask me, “Aren’t you a real estate agent? What then is a real estate negotiator?” As a real estate negotiator, I can only facilitate transactions, whereby I can only help clients buy, sell, or rent properties. My task as a middle person is to matchmake the buyers and sellers, and tenants and landlords. In a sale transaction, my job is to find the seller a buyer for his/her property, and to find for the buyer a suitable property for his/her purchase. In a rental transaction, my job is to find the landlord a suitable tenant, and to find the tenant a suitable property for his/her short-term or long-term tenancy.
In order to open my own real estate agency and recruit negotiators under me, I’ve to have a Real Estate Agent (REA) license. To become a REA, one has to sit for a written exam in a Diploma in Real Estate to get the REA licence.
- A candidate must possess the following minimum entry requirements set by the Board of Valuers, Appraisers and Estate Agents Malaysia.
Diploma in Real Estate (Part 1)
- Open to ONLY Malaysian Citizens.
- 17 years of age and above.
- MCE/SPM with at least 3 credits and 2 passes.
- Credits should be in either in Mathematics, Science, Accounting or Commerce.
Diploma in Real Estate (Part 2)
- Candidates must show proof that they have passed all subjects in Part 1 of the examinations set by the Board of Valuers, Appraisers and Estate Agents Malaysia.
Career path to obtaining the license to practice
- Obtain a pass in all six subjects in an examination set by the Board of Valuers, Appraisers and Estate Agents Malaysia.
- After passing all the six subjects in Part 1, candidates will be allowed to sit for the Part 2 of the examinations set by the Board of Valuers, Appraisers and Estate Agents Malaysia.
- After passing the two written examinations, a post qualifying practical experience of two years with a registered estate agency is necessary before being eligible to apply for the Test of Professional Competence. After passing this test the candidate will be qualified as an estate agent and can be registered to practice.
Nevertheless, another question remains: “Are you going to become a Real Estate Agent?” Only time will tell…