THE PARADOX OF THE REN: A LOOK AT REAL ESTATE NEGOTIATOR (REN) PRACTICES IN MALAYSIA

Authors

  • Ting Kien Hwa Department of Real Estate, Faculty of Built Environment, TUNKU ABDUL RAHMAN UNIVERSITY OF MANAGEMENT & TECHNOLOGY, MALAYSIA
  • Zarita Ahmad@Baharum School of Real Estate and Building Surveying, College of Built Environment, UNIVERSITI TEKNOLOGI MARA (UiTM)

DOI:

https://doi.org/10.21837/pm.v22i31.1460

Keywords:

Estate Agency Practice, Real Estate Agents, Real Estate Negotiators

Abstract

This paper explores the findings of a focus group discussion held to examine the current state of Real Estate Negotiator (REN) practice in Malaysia. RENs, acting as representatives of estate agencies, play a crucial role in facilitating property transactions. However, the discussion revealed significant ambiguities surrounding their responsibilities, ethical considerations, and the efficacy of the REN Tag system. Participants recounted instances of misrepresentation of property details, inflated rental/prices, and deceptive marketing activities. This highlighted the need for stronger measures to promote ethical conduct within the profession, including awareness campaigns, stricter disciplinary measures, and a robust complaint mechanism.

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References

Board of Valuers, Appraisers, Estate Agents and Property Managers Malaysia website: https://lppeh.gov.my/WP2016/

Haron, R., & Ibrahim, K. (2019). Residential Property Price Hike and Speculation. PLANNING MALAYSIA, 17(9). https://doi.org/10.21837/pm.v17i9.609 DOI: https://doi.org/10.21837/pmjournal.v17.i9.609

Ibiyemi, Abayomi, Ogungbemi, O. and Awodiran, R. (2014) Regulation of real estate agency practice in Malaysia: an investigation for Nigeria, International Journal of Humanities, Social Sciences and Education, 1:10, 65-76

Malaysia Competition Commission (2015) Competitive Strategies of Real Estate Agents in Malaysia: A Case Study in Klang Valley, FINAL REPORT – Executive Summary March 2015

Valuers, Appraisers, Estate Agents and Property Managers Act 1981 (Act 242)

Valuers, Appraisers and Estate Agents Rules 1986

Yop, M. H. (2021). Significance and Performance of Property Markets in Malaysia. PLANNING MALAYSIA, 19(17). https://doi.org/10.21837/pm.v19i17.1022 DOI: https://doi.org/10.21837/pm.v19i17.1022

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Published

2024-05-31

How to Cite

Kien Hwa, T., & Ahmad@Baharum, Z. (2024). THE PARADOX OF THE REN: A LOOK AT REAL ESTATE NEGOTIATOR (REN) PRACTICES IN MALAYSIA. PLANNING MALAYSIA, 22(31). https://doi.org/10.21837/pm.v22i31.1460

Issue

Vol. 22 (2024): PLANNING MALAYSIA JOURNAL : Volume 22, Issue 2, 2024

Section

Article

License

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 Unported License.

Copyright & Creative Commons Licence

eISSN: 0128-0945 © Year. The Authors. Published for Malaysia Institute of Planners. This is an open-access article under the CC BY-NC-ND license.

The authors hold the copyright without restrictions and also retain publishing rights without restrictions.