The contents of this article were contributed by K. Soma Sundram, Registered Estate Agent with 36 years of experience.

Thinking about becoming a property agent in Malaysia? Here is the part nobody tells you upfront: you can be legally registered and holding your tag in about four to eight weeks, and the whole thing costs less than a decent phone.

The hard part is not the paperwork. It is what you do in the 90 days after the tag arrives.

Property agents in Malaysia are formally called Real Estate Negotiators, or RENs. You are the bridge between buyers, sellers, landlords and tenants. You market properties, arrange viewings, negotiate the deal and shepherd the paperwork until keys change hands.

This guide walks the full path: eligibility, the NCC course, the BOVAEP registration, the real costs, how commission actually pays out, and what the job is like once the excitement wears off.

TL;DR: BECOMING A PROPERTY AGENT IN MALAYSIA

• Entry role: Real Estate Negotiator (REN), not “agent”. A Registered Estate Agent (REA) is a separate, five to six year qualification.
• Minimum requirements: 18 years old, SPM or equivalent (with a pass in Bahasa Malaysia for applications from 1 October 2024), and a non-bankruptcy certificate.
• Training: the two-day Negotiator Certification Course (NCC), roughly RM600 plus service tax, ending in a short assessment.
• You cannot go solo. Every REN must be attached to a BOVAEP-registered agency, which submits your REN tag application for you.
• Timeline: typically four to eight weeks from booking the NCC to holding your tag.
• Pay: commission only, no basic salary. The regulated ceiling on a sale is 3% of the price, and one month’s rent on a tenancy of up to three years.
• Renewal: annual. Miss it and you retake the NCC from scratch.
• Practising without a tag risks a fine of up to RM300,000, up to three years’ jail, and you cannot sue anyone for your commission.

What Does a Property Agent Do? 

The terms “Real Estate Agent” or “Property Agent” are commonly used to refer to real estate salespeople. 

Showing houses is maybe a fifth of the job. The rest is closer to marketing, research and project management.

• Winning and marketing listings. Photographing units, writing copy, pushing them onto portals, social media and your own network.
• Qualifying enquiries. Separating serious buyers from window shoppers before you burn a Saturday on viewings.
• Running viewings. Coordinating access, owners, tenants and security, often at nights and weekends.
• Pricing and market research. Knowing what the block next door actually transacted at, not what the owner hopes it is worth.
• Negotiating. Handling offers, counteroffers and the emotional bits in between.
• Shepherding the paperwork. Booking forms, SPAs, loan applications, lawyers, developers and bankers, until the deal completes.

The deal is not done when the offer is accepted. It is done when the loan is released, and chasing that gap is where good agents earn their keep.

REN, PEA or REA: which one are you becoming?

Malaysians use “property agent” loosely, but the law does not. There are three distinct registrations, and knowing which one you are applying for saves a lot of confusion.

Almost everyone starts as a REN. It is the fastest legal route into the industry, and nothing stops you working towards the REA qualification later while you earn.

Want the long-form version covering the full REN to REA journey? Read our complete guide to becoming a real estate agent in Malaysia.

Who can register as a REN in Malaysia?

The bar is lower than most people assume. You need:

• Age 18 or above. That is the legal minimum.
• SPM or equivalent. A pass in Bahasa Malaysia has been required for applications from 1 October 2024. Many agencies also prefer at least three credits, and subjects like Mathematics, Economics or Accounts help, though they are not a legal barrier.
• A non-bankruptcy certificate from the Insolvency Department (Jabatan Insolvensi Malaysia). This one surprises people, so apply early.
• Malaysian citizenship or permanent residency, or a valid work permit for non-residents.
• Identity documents: IC or passport, plus a passport-sized photo.

No degree. No prior sales experience. No property background required at all. Some of the strongest agents in the market came from teaching, engineering, banking, F&B and aviation.

How to be a property agent in Malaysia in 5 steps

This is the whole path. Everything else in this article supports these five steps.

Step 1: Pass the Negotiator Certification Course (NCC)

The NCC is a two-day course run by training providers accredited by the Board of Valuers, Appraisers, Estate Agents and Property Managers (BOVAEP, also known as LPEPH).

It covers the law you are about to work under, professional ethics, agency practice and the basics of a transaction. On day two you sit a short online assessment, typically around 20 questions. Pass it and you receive your NCC certificate.

Attendance on both days is compulsory. Turn up late for one and you will be rebooking the whole course.

Step 2: Join a BOVAEP-registered real estate agency

You cannot register as a REN on your own, and you cannot practise as a freelancer. The law requires you to be attached to a registered firm, and that firm is the one that submits your application.

This is the single decision that most affects your first year of income, so do not pick the first agency that replies to your Instagram DM. There is a full section on choosing well further down.

Step 3: Submit your REN tag application through the agency

Your agency lodges the application with BOVAEP on your behalf. Prepare:

• NCC certificate
• Copy of your IC or passport
• Passport-sized photograph
• Letter of employment or appointment from the agency
• Non-bankruptcy certificate

Incomplete documents are the number one cause of delay. Get the non-bankruptcy certificate moving before you even sit the NCC.

Step 4: Receive your REN tag and start practising

Once approved, BOVAEP issues a REN tag carrying your name, photo, IC number, a unique REN number, your firm’s details and a QR code that anyone can scan to verify you.

You are required to wear it when conducting business. That tag is also your client’s proof that you are real, which matters more than new agents realise in a market with plenty of illegal brokers.

Step 5: Renew every single year

REN registration is renewed annually through your agency, and renewal is tied to continuing professional development. This is the step people forget.

Let your registration lapse and you do not simply pay a late fee. You retake the NCC and reapply from the beginning.

Thinking about becoming a property agent? Great choice! 

Property agents, also called Real Estate Negotiators (RENs) in Malaysia, act as the bridge between buyers, sellers, landlords, and tenants. 

Your job is to market properties, arrange viewings, negotiate deals, and handle all the paperwork to ensure smooth transactions for your clients. 

Before you begin your career journey, let’s learn what it takes to succeed in the real estate industry!

 How long does it take, and what does it cost?

Two questions, one honest answer: faster and cheaper than almost any other licensed profession in Malaysia.

Fees are set by course providers and the Board and change from time to time. Confirm the current figures with your training provider and agency before committing.

The real cost is not money, it is runway. Commission takes time to land, so plan for three to six months of living expenses before you give up other income.

The real cost is not money, it is runway. Commission takes time to land, so plan for three to six months of living expenses before you give up other income.

What skills do you need to be a estate agent?

To succeed in this field, you’ll need: Listening more than pitching. Most new agents talk too much. The ones who close ask what the family actually needs, then match it.

Negotiation without desperation. Handling offers, counteroffers and awkward silences on behalf of both sides.

Local market knowledge. Transacted prices, rental yields, upcoming MRT and highway links, school catchments, which blocks have management issues.

Digital marketing. Property discovery starts online. You need decent listing photos, video walkthroughs, portal copy that ranks and a personal brand people remember.

Networking that compounds. Bankers, lawyers, renovators, developers and other agents send more business than cold leads ever will.

Time and pipeline discipline. Juggling ten clients at different stages is the actual job. A CRM beats a notebook by month three.

Integrity under pressure. This is the biggest financial decision most clients will make. One dishonest deal ends a career that took years to build.The honest pros and cons of being a property agent

Anyone who tells you this career is easy money is recruiting you, not advising you.

Treat the first six months as an apprenticeship you are paying for with your time. Everyone who lasted did.

How do you choose the right real estate agency?

Your agency decides your training, your leads, your split and how fast you get paid. Same tag, wildly different first year.

The three types of agency in Malaysia

Six questions to ask before you sign anything

Ask these out loud, and write the answers down. A good agency will answer all six without hesitating.

1. What exactly is my commission split, and does it change with performance? Get the percentage in writing.
2. How many days after completion do I get paid? IQI’s benchmark is 5 days. Anything past 30 deserves a follow-up question.
3. Is there a forfeit or clawback policy? Some agencies withhold commission if you leave. IQI operates a no-forfeit policy.
4. What training do I get in my first 90 days, and who mentors me? A name, not a brochure.
5. What listings, projects and leads will I have access to on day one? An empty pipeline is a slow start.
6. What technology do I get? CRM, listing distribution, marketing templates and lead tracking. IQI provides IQPilot and IQI Atlas.

For context on where IQI sits: 30,000+ property professionals across 20+ countries, which is one of Malaysia’s largest networks, plus in-house technology, structured onboarding, a 5-day payout and a no-forfeit policy.

Your first 90 days as a REN

This is the part the registration guides skip, and it is where most people quietly drop out.

Days 1 to 30: pick a patch and learn it cold

Choose one or two areas, ideally where you already live or have a network. Walk them. Learn every project, the maintenance fees, the rental range and what actually transacted recently.

Depth in one township beats shallow coverage of five. Clients can tell within two minutes which one you are.

Days 31 to 60: get listings and get visible

Secure your first listings, even small rentals. Rentals close faster, teach you the process end to end, and turn into sales referrals later. Publish consistently, and make sure your REN number is on everything.

Days 61 to 90: build the pipeline habit

Track every enquiry, follow up in a fixed rhythm, and start collecting the referral network of bankers and lawyers you will lean on for the next decade.

Learn the numbers your clients will ask you first

Before “which unit”, almost every buyer asks “how much can I actually borrow”. Being able to answer that in the first conversation is what turns an enquiry into an appointment. This is the tool IQI agents use with clients:

Understanding Malaysia’s Real Estate Market 

Where is the Malaysian property market busiest?

Major urban centers such as Kuala Lumpur, Selangor, Penang, and Johor Bahru are hotspots for real estate activity.

These areas attract both local and foreign investors due to their strong infrastructure, job opportunities, and high demand for residential and commercial properties.

Meanwhile, smaller towns and emerging cities like Ipoh, Seremban, and Kota Kinabalu are experiencing rapid development, fueled by government initiatives, infrastructure projects, and increasing demand for affordable housing.

Types of Properties to Know

As a property agent, you’ll handle different types of properties, including: 

• Residential: condominiums, apartments, landed homes. The usual starting point.
• Commercial: offices, shoplots, retail. Longer cycles, larger fees.
• Industrial: factories, warehouses, logistics. Specialised and lucrative.
• Land: development and agricultural. Complex titles, patient buyers.

Key Takeaways

• The entry role is Real Estate Negotiator (REN). “Estate agent” is a protected title for REAs.
• Requirements: 18 years old, SPM or equivalent with a Bahasa Malaysia pass, non-bankruptcy certificate.
• The two-day NCC plus BOVAEP registration usually takes four to eight weeks and under RM1,000.
• You must be attached to a BOVAEP-registered firm. Freelancing is illegal.
• Commission is capped at 3% on a sale and one month’s rent on tenancies up to three years.
• Renew annually or you retake the NCC.
• Your agency’s split, payout speed and training matter more to your first-year income than the market does.

Choosing the Right Real Estate Agency: Why IQI is Your Best Choice

After navigating the BOVAEP registration process, a crucial decision for any aspiring property agent is selecting the right real estate agency. This choice profoundly impacts your training, support, earning potential, and overall career trajectory. When considering how to become property agent in Malaysia, pairing with a leading agency is paramount.

Types of Real Estate Agencies

There are various types of agencies, each with distinct advantages:

• Independent Agencies: These are often smaller, locally-focused firms that can offer a more personal working environment. However, they may have fewer resources and a narrower network compared to larger players.
• Franchise Agencies: These include big names like IQI Global, RE/MAX, or PropNex. They benefit from wider networks, established brand recognition, and often provide comprehensive training and support systems.
• Boutique Agencies: These firms typically specialize in niche markets such as luxury properties, commercial real estate, or specific geographical areas, offering focused expertise but potentially limited scope.

What to Look for in an Agency (and how IQI excels)

When choosing where to build your career, consider these critical factors:

• Reputation and Market Presence: Does the agency have a strong, trustworthy presence in the market? IQI Global boasts a formidable reputation and extensive market presence across Malaysia and globally. Our brand recognition opens doors and instills confidence in clients, making your job easier.
• Training and Support: Will the agency invest in your learning and growth? At IQI, we pride ourselves on unparalleled training programs, mentorship from industry leaders, and continuous professional development workshops. We equip you with the latest market insights, sales techniques, and negotiation strategies to ensure your ongoing success.
• Commission Structure and Earning Potential: How does the agency reward its agents? IQI offers a highly competitive and transparent commission structure designed to maximize your earning potential. We believe in rewarding hard work and provide clear pathways to achieve high income levels, supported by a vast pipeline of projects and listings.
• Company Culture and Environment: Will you enjoy working with your colleagues and leadership? IQI fosters a vibrant, collaborative, and supportive company culture. We believe in teamwork, mutual respect, and creating an environment where every agent feels valued and empowered to achieve their personal and professional goals.
• Technology and Innovation: Does the agency provide cutting-edge tools? IQI leverages proprietary technology, including powerful CRM systems, advanced marketing platforms, and data analytics, to give our agents a significant competitive edge. Our digital tools streamline operations, enhance client engagement, and boost productivity.
• Network and Listings: Does the agency have a wide array of properties and clients? IQI’s extensive network spans local and international markets, providing access to an unparalleled portfolio of residential, commercial, and industrial properties. This broad selection ensures you always have quality listings to offer your clients.

Important Questions to Ask (and IQI’s Answers)

Before signing up with any firm, ask these questions to gauge their commitment to your success:

• “What kind of training do you provide?”
  • IQI’s Answer: We offer continuous, structured training covering sales skills, market analysis, legal compliance, and our proprietary tech tools, led by seasoned industry experts.
• “How is the commission structured?”
  • IQI’s Answer: Our commission structure is transparent, highly competitive, and designed to reward performance generously, with clear incentives for top achievers.
• “How do you support new agents?”
  • IQI’s Answer: New agents receive dedicated mentorship, onboarding programs, access to our extensive knowledge base, and administrative support to help them quickly find their footing and secure their first deals.
• “What are the performance expectations?”
  • IQI’s Answer: While we set ambitious goals, we also provide all the resources, training, and support necessary for our agents to meet and exceed these expectations, fostering a culture of high achievement.

Choosing IQI means choosing a partner dedicated to your success, offering a robust platform for growth, unparalleled training, and a supportive community. It’s how to be a property agent in Malaysia with a significant head start.

Version: CN & MY 

This article was written by K. Soma Sundram.

Soma is a Registered Estate Agent with 36 years of experience, a pioneer in Project Marketing in Malaysia and has trained over 200,000 real estate people. He specializes in sales skill training, and singlehandedly wrote the National Certification Course (NCC) module for real estate negotiators nationwide.

Frequently Asked Questions

Here are some common questions prospective real estate agents ask about starting a career in Malaysia:

Are you driven to improve your skillset and reach new heights of success? Look no further than IQI. Fill in the form below and speak soon!

Continue reading:

1. Laid-Off Pilot Turned Property Agent: Jayden Ng’s Success Story
2. How Much Does A Property Negotiator Earn? 6 Things to Know About A Real Estate Agent’s Salary
3. How to Find Your Property Agent in Malaysia

The post How To Be a Property Agent in Malaysia in Just 5 Steps appeared first on IQI Blog.

A licensed real estate agent protects you where it matters most. Property deals involve a large sum of money, so you should never deal with someone you have not verified.

In Malaysia, every transaction must be handled by a licensed Real Estate Agent (REA), a Probationary Estate Agent (PEA), or a certified Real Estate Negotiator (REN). All three are registered with the Board of Valuers, Appraisers, Estate Agents and Property Managers (BOVAEP), the body that governs the industry.

Scammers do exist, but they usually leave clear warning signs once you know what to look for.

At IQI Global, we do not compromise. We only work with agents verified and registered with BOVAEP, and we have zero tolerance for unauthorised activity. All payments must go to the official IQI Global bank account, never to a personal account.

Here are the simple steps to check that your agent, PEA or REN is genuine.

1. Check the REN or REA Tag Color

In Malaysia real estate practice comes under an act of parliament and as such anyone who wants to be a property agent (as we Malaysian citizens refer to them as) is issued with their own ID tag that they must worn at all times when they engage themselves with clients and customers.

Therefore, a licensed real estate agent will be issued with a Blue Tag, a probationary estate agent with a Red Tag and a real estate negotiator a Purple Tag. All of these tags must contain: 

• The Name & Photo of the property agent
• Their assigned numbers 
• The Firm they are attached with
• The Firms registration number
• QR code to scan their tag to show whether they are listed with BOVAEP & which firm they are attached to

Therefore, if you come upon anyone who does not have a tag, do not do any transactions with them!

2. Confirm the Agency Is Registered with BOVAEP

When you appoint a registered real estate agent, probationary estate agent or registered estate agent to sell, buy or rent, you are legally appointing a real estate firm who employs them. Once you decided to appoint them, the firm that they’re working under is simultaneously responsible for all actions of their employees.

Also be aware that, ALL real estate companies need to register with BOVAEP in order operate legally.. The firm will have their own E Number to shows they are registered with BOVAEP.

However, there are firms who claim to be real estate marketing firms [especially involved in project marketing] but are not registered with BOVAEP. 

To verify whether the real estate firm is registered with BOVAEP, you can head over to LPPEH official website to do a quick background check or call +6 03-2287 6666. 

Verifying the firm’s status ensures you’re dealing with a professional registered real estate firm, which is a crucial step in determining your interest is protected.

3. Verify the REN or REA Registration Number

A very important note: If you ask to see their ID tag and the person says they forgot it, you can still ask for their registration number for an online checking.

Each real estate agent has a unique registration number, which you can verify at this link.

If they seem reluctant to provide their REN number or REA number, that could indicate you’re encountering a potential fraud or a property agent who isn’t responsible.

4. Check the Agency Name and E Licence Number

Besides searching for the real estate negotiator number, you can search for their real estate agency name if it’s an official real estate agency firm. Every real estate practitioner must be attached to one firm.

To find out, click “Search for Firm” at the website. You can even call the firm to confirm if the property agent is really working for them.

5. Look at the Details in the Advertisement

Real estate negotiators and registeres estate agents usually have advertisements that they post online or flyers to share to sell their property, and it must contain the following information;  

• The firms E registration number
• REA/REN’s name
• REA/REN’s registration number
• Their Handphone numbers
• The firm’s office number

If you see a property flyer without the above information, take a picture and send it to BOVAEP with the street name, date, and time, with your name and contact number. 

6. Verify the Bank Account Before You Pay

Always remember that a licensed real estate agent who works with a verified company would never ask you to do a transaction under their own bank account details. 

If you’re working with an IQI REN or IQI REA, ensure that all real estate transactions are directed to IQI Realty Sdn Bhd.

We strongly advise against doing business with any real estate agents or negotiators who ask for personal banking transactions, as they might not have a real estate license. 

If you need help or have questions, don’t hesitate to contact us through our website or WhatsApp at +60 12-547 7155.

Now you know the 6 things you can check to know if your real estate agent is a legitimate one. However, there are regulations in real estate industry, and also punishments for illegal brokers.

To be a real estate agent in Malaysia often requires passing the real estate agent’s written examination, highlighting the legal importance of this step in the registration process.

Section 22 C of the Valuers, Appraisers, and Estate Agents Act 1981 [Act 242] states that if anyone is caught, illegally undertaking the duties of an estate agent, they can be fined up to RM300,000 and/or be sentenced to up to three yearsin jail!

These legal decisions protects your property transactions with you from potential scams and ensures a smooth and secure property purchase transaction.

Remember, don’t hesitate to report suspicious activity to BOVAEP for further investigation.

FAQ: Working with a Licensed Real Estate Agent at IQI

Now that you know whether your real estate agent is the real deal or not, you can now safely place your investment on your desired property! 

Need help with that? We can absolutely help you! Fill in your details below now, and our professional competence real estate agents will contact you soon.

Continue reading:

• Real Estate Negotiator Career Path in Malaysia: What Comes After REN?
• IQI Kuala Lumpur: Meet the Teams Behind Malaysia’s Leading Real Estate Network
• From 13 to More Than 3,000 Agents: How Joel Low Built IQI Sabah Into One of Malaysia’s Largest Real Estate Communities

The post 6 Simple Steps to Verify a Real Estate Agent’s License Before Appointing them in Malaysia! appeared first on IQI Blog.

Ask ten people how much a property agent earns in Malaysia, and you will get ten different answers.

Some swear agents are rolling in money. Others say they barely scrape by. The honest truth sits in between, and it depends almost entirely on you.

This guide skips the hype. We break down how commission really works, what agents actually take home, and the real journeys of IQI agents who turned this career into life changing income.

Want to skip the reading and crunch your own numbers first? Jump straight to the commission calculator.

How Much Do Property Agents Actually Earn in Malaysia?

Here is the part most articles dance around. Most property agents in Malaysia earn no fixed basic salary. Income is commission based, which means you earn when you close.

That sounds scary. It is also the reason the earning ceiling is so high.

Realistically, here is what earnings tend to look like:

• The first few months: many new agents close their first deal within 3 to 6 months, so early income can be small or nothing at all.
• Once you are consistent and full time: active agents commonly earn around RM3,000 to RM10,000 or more a month.
• Top performers and team leaders: RM50,000 a month and beyond, with the best earning seven figures a year.

The gap between those tiers is not luck. It is consistency, skill, and the platform behind you.

A quick example to make it real. A single subsale deal on a RM600,000 home at a 2.5% commission earns RM15,000 in gross commission, before any split.

Close a handful of those a year and the maths starts to look very different from a fixed paycheck.

How Property Agent Commission Works in Malaysia

Agents earn a percentage of the deal, not a salary. The rate depends on the type of transaction.

• Subsale (secondhand) property: usually 2% to 3% of the selling price.
• New launch projects: the developer pays the commission, and rates vary from project to project.
• Rental: usually around one month of rent.

For subsale deals, the seller normally pays the commission. As a buyer, you typically do not pay the agent directly.

One thing many newcomers miss. That headline commission is not all yours. It is shared between the listing and buyer agencies, and each agency keeps a portion for marketing, training, and operations before paying the agent.

Exclusive agents and sole agents

How an agent is appointed also shapes what they earn.

Exclusive agents are given the sole right to market a property for an agreed period. Because the listing is theirs to convert, they tend to invest more and prioritise your sale. This is common for higher value properties.

Sole agents are the single agency appointed by the owner, and they earn only when their work brings a successful buyer. It gives the owner professional support while keeping things simple.

Want the full ringgit by ringgit breakdown of who gets what? Read our deep dive on the real estate agent commission structure in Malaysia.

Try It Yourself: IQI Commission Calculator

Numbers hit different when they are yours. Set your property price, transaction type, and agency split, then see what one deal could put in your pocket.

These figures are estimates for guidance only. Real earnings depend on the deals you close, your agency split, and market conditions.

What Decides How Much You Actually Earn

Two agents in the same office can earn wildly different incomes. Here is what moves the needle.

• Consistency: the first year rewards discipline far more than raw talent.
• Full time versus part time: more hours and follow ups usually mean more closings.
• Location and property type: higher value properties bring higher commission per deal.
• Your agency: training, leads, technology, and how fast you actually get paid.

That last point matters more than people expect. Slow or delayed commission can quietly sink a new agent.

Why agents choose IQI

IQI is a leading real estate agency with over 30,000 property professionals across 20 countries. For an agent, that scale turns into real day to day advantages.

• A fast 5 day commission payout, with a no forfeit policy, so the money you earn stays yours.
• In house technology like IQPilot and IQI Atlas to manage leads, automate follow ups, and close faster.
• Hands on training and mentorship to shorten the painful early learning curve.

Thinking the maths could work for you? See how IQI supports new agents with training, leads, and technology.

Real Earnings, Real People: IQI Agent Success Stories

Numbers on a page are one thing. Real journeys are another. Here are five IQI agents who each started somewhere unexpected.

From banking to leading 1,000 agents: Ven Tee

Ven Tee spent ten years as a bank supervisor and was never promoted to manager. His income was capped by policies he could not control.

So in 2017 he joined IQI and started cold calling 150 to 200 times a day. Rejection was routine. He pushed through anyway.

His mindset was simple. If you want to conquer the island, burn the boat.

Today Ven is a Team Manager leading more than 1,000 agents, with five home bonuses, a car bonus, and trips to the Maldives behind him.

From engineer to team leader: Sean Ooi

Sean Ooi had a steady 9 to 6 engineering job. He even had to register online before going to the toilet, for his boss to monitor.

The turning point came in one conversation. His boss earned RM10,000 a month at age 35. Sean realised that was not the future he wanted.

He left for real estate and treated it like his own business. His engineering brain, all structure and planning, became his secret weapon.

Now he leads his own team at IQI, with a simple message for anyone hesitating. The only constant is change, so just do it.

From hawker to RM10 million: Alvin Chan

Alvin Chan sold vegetarian food from the age of 19, working from 7am, then handing out flyers in malls until late at night.

A Facebook property ad in 2017 changed everything. He gave real estate a shot, and in his first three months, he closed nothing.

He kept going. By the end of year one, he closed RM4 million in sales in two days. Later, he closed RM10 million in project sales in a single day.

He made millions before turning 30. Today he drives a BMW, owns a Rolex, and holds recognition from the Malaysian Institute of Estate Agents.

From delays to dream life: the home bonus achievers

At his old job, Pang San Woon was owed more than RM400,000 in delayed commission. A friend told him IQI pays out in just 5 days. He joined.

Within six months he made Team Leader. Since then he has earned RM50 million and won four home bonuses.

His teammate Jayden Teh proves age is no barrier. He achieved three home bonuses by the age of 22, one of the youngest top achievers at IQI.

From journalist to property leader: Natasha Gideon

Natasha Gideon once covered the property industry as a journalist. Through interviews with top agents, she saw what really drove success. It was not noise, it was consistency.

She left a fixed salary and crossed over, building her personal brand as MarieJualKondo long before agent branding was common.

Nine years on, she leads her own team at IQI. Her reason for switching says it best.

In a 9 to 5 job, even if you give 200 percent effort, your salary stays the same. But in real estate, when I put in 200 percent effort, my income can grow just as fast.

Is Being a Property Agent a Good Job in Malaysia?

It can be one of the most rewarding careers in the country. It is also not for everyone. Here is the honest picture.

What makes it great:

• An income ceiling that few salaried jobs can match.
• Real flexibility over your time and how you work.
• No degree required, just certification and commitment.
• You are building your own business, not climbing someone else’s ladder.

What to be ready for:

• No guaranteed income in the early months.
• Rejection is part of the job, especially at the start.
• It rewards patience and consistency, not quick wins.

If you want to see how far this can really go, read whether a real estate agent can become a millionaire in Malaysia.

How to Start Earning as a Property Agent

The pathway into real estate is more accessible than most people think. In short, here is how it works.

1. Meet the basic requirements, including SPM credits.
2. Complete the 2 day Negotiator Certification Course (NCC).
3. Join a registered real estate agency under BOVAEP.
4. Receive your REN tag, then start building your client base.

The mechanics are straightforward. The mindset is the real decision.

For the full step by step process, costs, and traits of success, read our guide on how to become a property agent in Malaysia in 5 steps.

Frequently Asked Questions

Conclusion

So, how much do property agents really earn in Malaysia? As much as their effort, consistency, and platform allow.

There is no fixed paycheck here. But there is also no ceiling. The agents who treat this as a real business, and surround themselves with the right support, are the ones who build extraordinary income.

If their stories light a fire in you, the next step is yours to take.

IQI is a leading real estate agency, with over 30,000 property professionals in 20 countries around the globe. Join us to become a changemaker in the real estate industry!

Continue reading:

• Can a Real Estate Agent Become a Millionaire in Malaysia? Your Path to Wealth with IQI
• What is the Commission Structure for Real Estate Agents in Malaysia?
• 10 Effective Real Estate Marketing Strategies in Malaysia (2026)
• Being a Real Estate Negotiator (REN): Everything You Need to Know!
• 5 Reasons Why You Should Join IQI – Part 1

The post How Much Do Property Agents Really Earn in Malaysia? (The Truth Revealed!) appeared first on IQI Blog.

In recent years, real estate professionals in Malaysia have been under growing pressure to understand and comply with anti-money laundering regulations.  

One of the most critical laws governing this area is the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001, commonly referred to as AMLA. 

Although the Act was initially designed for financial institutions, it has since expanded to cover various sectors, including real estate, which is increasingly vulnerable to scams and illicit financial flows.

Property agents, negotiators, and agencies must now ensure they are fully aware of their legal obligations under AMLA to avoid penalties, reputational damage, or even prosecution. 

In this article, we’ll take a closer look at what AMLA is, why it matters to the property industry, and how real estate professionals can take practical steps to stay compliant and cautious. 

What Exactly Is AMLA?

AMLA stands for the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.

Enforced by Bank Negara Malaysia (BNM), the law aims to prevent money obtained through illegal activities from being disguised or “laundered” as legitimate income.

It also targets the financial networks that support terrorism or criminal enterprises.

The Act requires certain businesses and professionals to identify, monitor, and report suspicious transactions potentially linked to money laundering or terrorism financing. These businesses are classified as Reporting Institutions (RIs).

Since the real estate sector often involves high-value transactions and large cash flows, it is considered a high-risk channel for illicit activity.

Why Property Agents Should Take AMLA Seriously? 

While buying and selling property may seem routine, real estate professionals are often in a unique position to spot red flags.

These include unusually complex cash payments, overseas clients with unclear income sources, or customers reluctant to provide proper documentation.

Failing to detect or report such activities can result in severe consequences.

Under AMLA, individuals and companies may face substantial fines or imprisonment for non-compliance.

Even unintentional involvement in money laundering can seriously damage your professional reputation and erode client trust.

That’s why it’s essential for all real estate professionals to not only understand AMLA but to cultivate a culture of caution, compliance, and continuous education within their agencies.

What Does AMLA Require from Real Estate Professionals? 

Under AMLA, property agents and negotiators are responsible for four key areas:

1. Customer Due Diligence (CDD)

With Customer Due Diligence (CDD), you can verify your client’s identity, understand the nature of their business, and assess the purpose of the transaction.

If red flags arise, such as vague income sources or large cash payments, enhanced due diligence may be required.

2. Record-Keeping

You must maintain complete records of your clients’ identities and transaction details for at least six years. These must be retrievable upon request by authorities.

3. Ongoing Monitoring

Keep an eye on client behavior and transaction patterns throughout the business relationship. Monitor for sudden changes that might suggest illegal activity.

4. Reporting Suspicious Transactions (STRs)

If a transaction appears suspicious, it must be reported to Bank Negara Malaysia’s Financial Intelligence and Enforcement Department (FIED) through a Suspicious Transaction Report (STR).

Failing to report can itself be considered an offence under AMLA.

Practical Tips for AMLA Compliance in Real Estate

✅ Always verify your client’s identity using valid documents.
✅ Be alert to unusual payment methods or clients unwilling to disclose income sources.
✅ Maintain detailed records for at least six years.
✅ Update your compliance checklist regularly.
✅ Consult your compliance officer or legal team when in doubt.

How Can Agents Be More Cautious? 

The first and most important step is education.

Property agents and negotiators should undergo AMLA awareness training, which is often available through professional bodies like Lembaga Penilai, Pentaksir, Ejen Harta Tanah dan Pengurus Harta (LPPEH), the Malaysian Institute of Estate Agents (MIEA), or in-house training programs.

Understanding how to identify suspicious behavior is key to early detection.

Second, implement proper internal procedures for client verification and documentation. Even small agencies benefit from a structured checklist to help reduce risks.

It’s also important to stay informed about updates to AMLA regulations, as financial crime tactics are becoming increasingly sophisticated.

Subscribing to BNM or MIEA alerts is a practical way to stay in the loop.

Lastly, remember: when in doubt, report. Filing an STR does not mean you’re accusing someone—it simply fulfills your legal duty. The authorities will investigate if needed. 

Final Thoughts 

AMLA compliance is no longer optional for property agents in Malaysia—it’s a legal and professional necessity.

With increased scrutiny on real estate transactions, agents who understand and apply AMLA best practices not only protect their business but also enhance the integrity of the entire industry.

By staying informed, alert, and accountable, you build client trust, safeguard your credibility, and ensure you’re always on the right side of the law.

Frequently Asked Questions (FAQs)

Interested in becoming part of the IQI Global team? Drop us a message below and we’ll be in touch. 

Continue Reading:

1. ALERT: IQI Does Not Operate “IQI Capital Solutions”

2. 5 Simple Steps to Verify a Real Estate Agent’s License Before Appointing them in Malaysia!

3. How Real Estate Agents Can Help Reduce Crime and Safeguard Landlords

The post AMLA Alert: What Every Property Agents in Malaysia Should Know! appeared first on IQI Blog.

You have probably asked yourself, “Where do I even start?” or “Can I really make money doing this?”

Many Malaysians dream of breaking into real estate. Most are held back by fear of the unknown, a lack of guidance, or simply not knowing where to begin.

Maybe you are tired of a 9 to 5 with limited income. Or maybe you want the freedom to control your own schedule, work with people, and build real wealth through property.

Becoming a Real Estate Negotiator (REN) or a Registered Real Estate Agent (REA) might be exactly the opportunity you have been looking for.

This guide cuts through the confusion. It walks you through the two career paths, the exact steps, what you can realistically earn, and how to take your first step with confidence.

Wondering if the money is real? Run your own numbers with the commission calculator below.

Exploring the Malaysian Property Market

The Malaysian property market offers steady opportunities for people who want a rewarding career. As long as people buy, sell, rent, and upgrade homes, agents stay in demand.

Whether you are fresh out of school or changing careers, the first step is understanding the pathways and skills the job actually requires.

Two Career Paths: REN vs REA

The profession is overseen by the Board of Valuers, Appraisers, Estate Agents and Property Managers (BOVAEP). Within that framework sit two distinct roles, the REN and the REA.

Most people begin as a Real Estate Negotiator (REN). It is the entry point, and it lets you start working in the industry fairly quickly.

As a REN, you are employed by a registered firm and certified by BOVAEP. You list and market properties, arrange viewings, and negotiate between buyers and sellers.

RENs cannot open their own agency or handle client funds directly. Every transaction and document goes through the agency you are attached to.

A Registered Real Estate Agent (REA) is a fully licensed professional with deeper education and training requirements.

Unlike RENs, REAs can run their own agency, hire up to 50 RENs, and manage client funds through a dedicated account. It is the highest level of recognition in the field, and it carries real authority and accountability.

Still deciding which path fits you? Next, let us look at what each one can actually earn.

How Much Can You Earn as a Real Estate Agent?

Here is the honest answer to the question in your head. Most agents earn no fixed basic salary. Income is commission based, so you earn when you close.

That is the risk. It is also why the ceiling is so high.

For subsale property, commission is usually 2% to 3% of the selling price. So a single deal on a RM600,000 home at 2.5% earns RM15,000 in gross commission, before the agency split.

Once they are consistent and full time, many agents earn around RM3,000 to RM10,000 or more a month. Top performers and team leaders go well beyond that.

Try it for yourself. Set a property price and see what one deal could put in your pocket.

Estimates for guidance only. Real earnings depend on the deals you close, your agency split, and market conditions.

Want the full picture of agent income across the country? Read our guide on how much property agents really earn in Malaysia.

Ready to earn your first commission? Get your REN tag and start your real estate career with IQI in a matter of weeks.

Steps to Become a Real Estate Negotiator (REN)

The pathway is more accessible than most people think. Here is how it works.

First, meet the basic criteria. You must be a Malaysian citizen or permanent resident, at least 18 years old, and ideally hold an SPM qualification. Anyone with a history of bankruptcy or fraud is not eligible.

Next, attend the Negotiator Certification Course (NCC). This mandatory two day course is run by BOVAEP approved providers, and it covers real estate law, ethics, negotiation, and property evaluation.

After the course, you receive a Certificate of Attendance. With it, you join a registered real estate firm, and the agency submits your application to BOVAEP.

Once approved, you receive your official REN tag. This is your licence to practise, and it must be worn when dealing with clients.

Want the streamlined version with costs and timelines? See our focused guide on how to become a property agent in 5 steps.

Succeeding as a REN

Getting certified is just the start. Success demands trust, consistency, and adaptability.

Build genuine relationships with clients and become the expert in your niche. Use digital tools like CRM systems and property portals to manage your leads efficiently.

Always meet the industry’s ethical and legal standards. Integrity is what builds a reputation that lasts.

How to Become a Registered Real Estate Agent (REA)

If you aim higher, prepare for a more demanding process. It starts with passing the Estate Agent’s Examination set by BOVAEP.

The exam has two parts. Part one covers subjects like accounting, economics, marketing, and building technology. Part two goes deeper into valuation, land economics, property law, and estate agency practice. Degree holders may qualify for certain exemptions.

After passing both parts, you register as a Probationary Estate Agent (PEA), followed by two years of supervised practical training.

During training, you gain hands on experience under a licensed REA and keep a detailed work diary.

At the end, you complete the Test of Professional Competence (TPC), an interview before a BOVAEP panel. The panel reviews your diary, your understanding, and your readiness.

Pass it, and you can register as a fully licensed REA, free to start your own agency and build your business. For many, that is the ultimate goal.

Skills That Define Success

Qualifications alone do not make a great agent. You need the right blend of skills, mindset, and discipline.

A solid grasp of property trends, sharp communication, and the ability to market listings are all essential. Being honest and ethical is not just expected, it is required, because clients place real trust in their agents.

Being tech savvy helps too. Mastering CRM systems and social media marketing gives you a clear edge.

Above all, be resilient. Deals do not always close, and setbacks are part of the journey. Consistency and a positive attitude are what separate great agents from the rest.

Need proof it works? See how a journalist became an IQI team leader in Natasha Gideon’s 10 year journey.

Why Start Your Career with IQI?

If you are unsure where to begin, begin with IQI. As one of Malaysia’s largest real estate networks, with over 30,000 property professionals across 20 countries, IQI turns its scale into real advantages for new agents.

Global listings and a trusted brand that open doors a solo agent cannot.

Fast 5 day commission payout, with a no forfeit policy, so the money you earn stays yours.

In house technology like IQPilot and IQI Atlas to manage leads, automate follow ups, and close faster.

Professional training and mentorship to shorten the painful early learning curve.

Final Thoughts

Success in real estate is not just about passing exams. It is about passion, professionalism, and a commitment to lifelong growth.

Whether you start as a REN or work toward becoming an REA, the journey is rich with opportunity for anyone ready to rise to the challenge.

Frequently Asked Questions

Start your exciting yet rewarding journey as a real estate agent at IQI Global today! Submit your information and we’ll contact you for the next step!

Continue reading:

• Unleashing Gen Z’s Lifestyle: The Perfect Fit of Flexibility and Freedom as Property Agents
• Ask a Real Estate Agent: How Do You Start a Career in Real Estate:Yeo Pek Kee
• 5 Simple Steps to Verify a Real Estate Agent’s License Before Appointing them in Malaysia!
  

The post A Guide To Becoming A Successful Real Estate Agent in Malaysia appeared first on IQI Blog.

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IQI Global is an international real estate brokerage platform that has grown from 10 agents in 2011 to more than 40,000 agents in over 20 countries including Malaysia by 2024, with a strong focus on real estate technology.

Strategically placed in Malaysia, we have 8 dedicated teams here.

1. IQI ACE

ACE represents ‘A’wesome, ‘C’razy & ‘E’xtraordinary fighters.

IQI ACE

“We want to be an international team player to benefit our investors with various investments around the world.”

Founded in 2012, IQI ACE has always been a team that works together and is ambitious in their business, connected and empowered by their people.

“We want to be an international team player to benefit our investors with various investments around the world.”

Click to read tips to investor from Calvin Law and other property professionals.

2. IQI Success One

Degree of success for everyone.

IQI Success One

Success One was founded in 2013, and their goal has remained steady until now.

“To be recognized globally as one of the top successful teams, to inspire businesses, and to create a vision that inspires generations—make the impossible possible.”

As a team with a wealth of experience, Success One has always led the way over every hurdle to solve problems and achieve a broader perspective.

3. IQI Elite

An Elite team that prioritises teamwork. We gather to pool our resources and influence our team members.

IQI Elite

The founder and IQI GVP Aaron Siow described an “Elitian” as a problem solver and a self-motivator, packed with the tenacity to pursue every lead hustle assertively to chase clients. 

“In IQI Elite Group, we believe agents need to be proficient in verbal communication to transmit information and to not hard sell.” 

Acquiring valuable knowledge is fundamental for every Real Estate Negotiator (REN) to provide quality service.

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4. IQI UNITED

Working happily to achieve your dreams; Working together as one family to win the world.

IQI United

IQI United was founded in 2011. They were known as RINA and became Malaysia’s third-largest real estate agency group in 2020. After merging with IQI, RINA became IQI United.

Jordan Yeoh and Fiona Chin believe that the core vision of United is to unite as a team, regardless of geography or class.

“Learn from the system, to support each other, to share, to grow and to succeed!”

Jordan Yeoh and Fiona Chin believe that the core vision of United is to unite as a team, regardless of geography or class.

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5. IQI iRealty

A team that grows together, also a brand that lasts forever.

IQI iRealty

iRealty VP Muhazrol Muhamad was very proud when he talked about team iRealty, which was founded by a group of Bumiputera agents.

“The team’s name represents “I“man, “R“espect, “E“nthusiasm, “A“mazing, “L“oyal, “T“rust & “Y“ield.”

And this reflected that team iRealty is always determined to find the best solution for property investors.

iRealty team was founded in 2016, and in 2020, iRealty merged with IQI to seek more ambitions and achievements. 

6. IQI Dreammakerz

A group of warriors who support, assist, and promote the personal dreams and desires of others to make everyone’s dreams come true.

IQI Dreammakerz

Dreammakerz integrated with Juwai IQI Real Estate Technology Group to commit to building a personalized and refined real estate platform and network.

“With IQI, we can lead customers and partners beyond Asia, ensuring their investment portfolios follow global trends.”

Dreammakerz Team VP and co-founder Victor Lim shared that the best way to describe the team is: “We dare to dream big, we thrive on sharing, we strive to do our best, and we are fearless in the face of change; our spirits are connected.”

IQI Dreammakerz has provided thoughtful property advisory services to our clients with this notion in mind since 2017.

7. IQI CS

We connect with and support passionate and dedicated agents.

IQI CS

IQI CS was founded in 2013 with the common goal of achieving more in life, including establishing a work-life balance and earning an attractive income.

Chen said, CS Group has been rapidly growing and consists of 3,000+ registered real estate negotiators today.

“Meanwhile, our mission is to be the leading global real estate advisory and marketing firm, utilising international best practices and living by our core values and principles.”

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8. IQI AG

Nobody Does It Better Than Us!

IQI AG

IQI AG (ALL GREAT) team, was founded in 2020 by Ts. Kamal Abd Ghafur. Previously known as AG Realty Sdn Bhd, it is now known as IQI AG after merging with IQI.

“Our goal is to deliver high-standard real estate services to meet clients’ needs and satisfaction, ensuring that clients receive the maximum benefits from our real estate services.”

The team has also established a premier and preferred real estate company, upholding values such as honesty, integrity, and collaboration.

“We aim to foster team development and contribute to the community by delivering impeccable real estate services.”

If you’re looking for a team that can help you make the best property purchase or investment decisions, come to us! We have seven dedicated teams across Malaysia who are all ready to serve you! 

Continue reading:

1. Real Estate Negotiator: 4 Perks of being a REN in IQI Global
2. Discover Juwai IQI: Surprising Facts and Insights You Never Knew
3. Become A Real Estate Negotiator with IQI Malaysia! Here’s How To Sign Up from A to Z

The post Who is IQI? Get to Know the 8 Amazing Teams at IQI Malaysia! appeared first on IQI Blog.

Image source credit: Yeo Pek Kee & IQI Ace Group

Many real estate agents, whether veterans or beginners, face a number of challenges during their career.

How can you overcome these challenges and still become a successful real estate agent?

We decided to find this out for ourselves by talking to someone who has been through the process of becoming an agent while establishing their real estate career.

We asked a number of questions to better understand what you need to do to start a successful career in real estate.

In this interview, we talked to Yeo Pek Kee.

Yeo Pek Kee graduated from Curtin University, Perth and came back to Malaysia where she acquired a sales job selling lubrication and grease to manufacturing factories.

She had been in 2 other sales jobs before entering the real estate industry as an investor.

She invested in 2 properties and got immediate great returns. This further piqued her interest in the industry and it was from then on that she joined the market in a more active role.

She had been in the sales industry for 15 years before joining IQI.

I chose IQI because of their warm and welcoming culture. We started out small and continued to grow; the rest is history.

Yeo Pek Kee

1. Get to know Yeo Pek Kee from IQI Ace!

I am one of the Heads of Team in IQI Realty here in Malaysia.

IQI is the very first real estate company that I have worked with and I have been working with them for more than 6 years now.

I have to say, it has been a wonderful journey. It had its fair share of challenges and obstacles along the way.

But in the end, I was able to persevere and triumph, and I had a lot of fun along the way.

IQI has shown me how, right from the start.

Yeo Pek Kee

2. #1 tool for real estate agents: education and training

As a real estate agent, your each moment is spent working for yourself.

This means managing your own office work, paperwork, finding leads, developing relationships, managing contacts, and dealing with clients.

Honestly, I think both education and training are of great importance.

Education is the foundation of your career and training helps prepare you for the market.

For example, the market training we receive gives us insight into both the sentiments of the people and all the activities around us that help us become better agents.

3. What to prepare to become an agent: courses and fees

Going into the real estate industry as an agent takes more than just making the career choice.

It also means completing the educational requirements.

I underwent an intensive CPD course from MIEA which taught me all about the skills we need in selling and project marketing, how to get big deals and more.

This training was very practical; hence, we were able to really benefit from it. This course also highlighted what agents should know before going into the market.

It’s a 2-day course and agents need to pay RM600 for the training.

Yeo Pek Kee

IQI continues to train its agents to keep us a step above the others in the market. And this is why IQI is such a good choice.

4. How to overcome challenges and achieve success as an agent

Deciding to become a real estate agent is a major move in anyone’s career journey.

In this world, nothing is easy. You’re an independent entrepreneur and control your own business deals.

You make the decisions. You need a good attitude and solid work ethic, and there are virtually no limits for the growth of your business.

In the real estate industry, the hardest part I found, is prospecting.

Yeo Pek Kee

The number of rejections that I faced at the beginning of my career was overwhelming, but I believed I could do it.

So I continued to strive to do my best; and for every ‘no’ I got, I knew the next one would be a ‘yes’!

This industry does not need a sprinter, we need a marathon runner.

Yeo Pek Kee

5. “Joining IQI changed my perspective”

Before I became an agent, I had this perception that real estate is a very complex business.

I thought being a real estate negotiator would be a very lonely path because conventional negotiators can only work within their areas and we do not normally venture out internationally.

My perception changed when I joined IQI.

Yeo Pek Kee

This is not a mundane 9 to 5 job. Real estate agents set flexible daily schedule’s that works for them.

Much of a real estate agent’s time is spent socializing, meeting people, and building relationships.

6. Keys to building a successful team

My team has grown over 5 times since 2017! Thanks to our incredible platform, IQI!

It empowered my team and I to go further and grow bigger.

Yeo Pek Kee

It takes loads of energy and drive to accomplish everything that needs to get done every day.

All different marketing methods work, we just need to be active and continuously keep at it until we succeed.

My team thrives on drive and ambition, as well as mutual support; and this keeps us motivated through good times and lean times.

Our clients note our energy and drive, and appreciate our enthusiasm for the business. This is what builds trust.

7. Leading by example: improve yourself constantly!

I believe in leading by example.

Yeo Pek Kee

By continuously improving ourselves we try to be perfect, but we can never be perfect, this is how the world works.

So, by always trying to achieve perfection, we are constantly making ourselves better, and we can continue to deliver the best services.

Real estate agents are in a service profession. Our job centers on helping other people.

Yeo Pek Kee

It is very rewarding helping people navigate one of the biggest financial decisions of their lifetime.

Our enthusiasm for our job is our biggest selling point and ensures we continue to maintain the highest quality of service.

8. Real estate – a competitive but rewarding game!

The real estate industry can be extremely rewarding.

Yeo Pek Kee

It is a competitive game and requires both ambition and focus.

If you thrive in a competitive environment, the real estate industry is just right for you.

Giving up on yourself when things do not go your way is not only giving up on the company.

It is giving up on what you promised yourself when you first came into this industry.

Remember, it is not about how fast you can run, it is about how far you can go.

Yeo Pek Kee

If you are interested in kick-starting your own real estate career, then don’t hesitate. Fill in the form below and be a part of a team of global real estate entrepreneurs and investors.

Continue reading:

1. Top 6 Reasons Why You Should Choose A Career In Real Estate
2. How To Be A Property Agent In Malaysia In Just 5 Steps
3. Become A Real Estate Negotiator With IQI Malaysia! Here’s How To Sign Up from A to Z

The post Ask a Real Estate Agent: How Do You Start a Career in Real Estate:Yeo Pek Kee appeared first on IQI Blog.

The contents of this article were contributed by Yanie Johan, co-founder of IQI iRealty.

Did you know you could get more, more, more stuff in your new home?

All you have to do is ask!

However, of course, we understand that it’s easier said than done. One wrong sentence may lead to misunderstandings and disappointment! So tread lightly.

In this article, IQI iRealty Group Principal, Co-Founder and Team Manager Yanie Johan gives you 5 tips on how to negotiate with homeowners before you receive the keys to your new place.

Understanding the Home Buying Process

Understanding the home buying process is crucial for both buyers and sellers. A real estate agent can guide buyers and sellers through the process, ensuring a smooth and successful transaction.

To negotiate with your homeowner, research the current market value of your property, understand your homeowner’s motivations, clearly communicate your needs, be prepared to compromise, present a well-supported case with data, and aim for a win-win solution by discussing options like rent increases, lease terms, maintenance responsibilities, or potential improvements to the property that benefit both parties

Buying a home is a significant investment, and knowing what to expect can make the journey less daunting.

From the initial offer to closing costs, each step requires careful consideration and planning. By working with an experienced estate agent, you can navigate the complexities of the property purchase with confidence, ensuring you get the best deal possible.

Researching Local House Prices

Researching local house prices is essential for determining a fair price for a property. Buyers and sellers can use online tools, such as property websites and real estate agent reports, to gather information on recently sold comparable properties in the area.

This information can be used to make an informed offer or to negotiate a better price. A mortgage broker can also provide valuable insights into the local market and help buyers determine their budget.

Knowing the local market is key to making a smart investment. By understanding the house prices in your desired area, you can set realistic expectations and avoid overpaying.

Estate agents have access to comprehensive data and can offer expert advice on what constitutes a fair price, helping you make a well-informed decision.

Preparing for Negotiation

Preparing for negotiation is key to getting the best price for a property. Buyers and sellers should research the local market, understand the property’s value, and determine their budget.

A real estate agent can help buyers and sellers prepare for negotiation by providing guidance on the negotiation process and offering advice on how to create a win-win situation. Buyers should also consider getting pre-approved for a mortgage to demonstrate their seriousness to the seller.

Negotiation is an art, and being well-prepared can make all the difference. By doing your homework and understanding the local market, you can enter negotiations with confidence.

A trusted estate agent can offer invaluable support, helping you strategize and present a compelling case to the seller. And remember, getting pre-approved for a mortgage shows you’re a serious buyer, which can give you an edge in the negotiation process.

5 Things to Ask For When Negotiating with Homeowner

1. Price

Many people may not know that we buyers can negotiate the price. If you want your dream home, you’d definitely want the best price for it!

In order to do this effectively, you have to do some research on the house’s market price or value, including understanding the asking price and how long the property has been on the market.

I mean, it’s a long-term investment – an important asset. We wouldn’t just want to throw our money without making some ‘calculated’ decisions, won’t we? (Pun not intended)

Try to negotiate with your homeowner to get the best price. If you do it right, you’d be able to save some money on the purchase price that you can use to buy furniture instead (more on that later!).

2. Deposit and Closing Costs

Deposits are a no-brainer. What if the buyer suddenly bails, right?

However, some homeowners fear this so much that they’ve marked up the deposit up to 10%!

And that’s not including the other fees that are going to come along.

One of the things you may want to negotiate with the homeowner is the deposit of the house. You might just be able to save big-time there.

3. Early access to the home

Okay, you’ve got your papers done, you’ve settled all the papers – now it’s time to move in! Or is it…?

If you’re looking into making any renovations, perhaps you want to move your furniture in ahead of time, or maybe you need to leave your current home quickly, it’s worth asking the owner if you could move in earlier.

If there’s still a long way to go before you get to move in, you can negotiate with the owner to move in early!

4. Request for Repairs

Before moving in to your new place to call home, you’d want to make sure everything is in tip-top shape.

You wouldn’t want to move in uncomfortable or unhappy, would you? Check your home and see if there’s anything that needs to be repaired.

You can ask the homeowner to double check as well, and they might just get it fixed before you move in!

Then you can enter your new home in peace and comfort, without worrying about any existing damage.

5. Ask to Gift Existing Furnishings

You’ve negotiated the price, move-in date and renovations and repairs. What else can be negotiated?

You can also negotiate with the owner to gift you the existing household items!

Perhaps there’s some existing home items include furniture such as sofas, dining tables, kitchen cabinets, curtains, kitchen appliances and so on.

But do ask politely – the owner will give you with discretion. You might just be lucky enough to score a generous owner! Remember, you won’t lose anything from asking.

Creating a Win-Win Situation

Creating a win-win situation is essential for a successful property sale. Buyers and sellers should be open to compromise and willing to be flexible. A real estate agent can help buyers and sellers find mutually agreeable terms, such as a fair price, reasonable closing costs, and a suitable settlement period. By working together, buyers and sellers can create a win-win situation that benefits both parties. A buying agent can also help buyers navigate the negotiation process and ensure they get the best price for their dream home.

The goal of any negotiation should be to find a solution that satisfies both parties. By being open to compromise and working collaboratively, buyers and sellers can achieve a fair and mutually beneficial agreement. Real estate agents are skilled in facilitating these discussions, ensuring that both sides feel heard and valued. With their expertise, you can navigate the negotiation process smoothly and secure the best possible outcome for your property purchase.

Should you negotiate with the homeowner or a real estate agent?

First of all, why do you think it’s better to negotiate with the home owner than a real estate agent before buying a house?

You might think that it’s cheaper if you negotiate with the owner yourself. However, not many home owners who want to deal directly with buyers out of a desire to protect privacy and fear of loss.

Sometimes buyers want to buy a house at a low price that doesn’t make sense. The owner is also worried that the buyer just wants to play around and doesn’t want to waste time. Additionally, the presence of other buyers can create a competitive environment, making it harder to negotiate directly with the homeowner.

So, the owner would prefer that you deal directly through a real estate agent to buy a house. Because real estate agents better understand the house price that fits your budget.

From there, the real estate agent will ensure a “win-win situation” between both the buyer and the home owner so that both parties will not lose.

However, if you want to negotiate directly with the owner, make sure you have a friendly real estate agent!

There are actually benefits if you negotiate through a real estate agent.

They’re more knowledgeable about property prices, the owner’s situation, and also how to persuade the owner to get the price of the house you want.

So, if you want to buy a house, be sure to deal through a real estate agent you trust!

The contents of this article were contributed by Yanie Johan.

Yanie Johan is the co-founder of IQI iRealty with 10 years of experience in real estate. She is a recipient of several awards for outstanding performance in team performer and group awards.

Put what you’ve learned to good use! This is your chance to invest in a property with a trusted IQI agent. Leave your details below and we will help you as soon as possible!

FAQ

1. What’s the most you can negotiate when buying a house?

The most you can negotiate when buying a house varies depending on market conditions, the seller’s motivation, and the specific property. In a buyer’s market, you might negotiate a lower price, closing cost assistance, repairs, upgrades, or even personal property like appliances. However, in a seller’s market, your leverage is reduced, and negotiations may focus on smaller concessions or simply securing the property at a reasonable price. The condition of the house also plays a role; a home needing repairs offers more room for negotiation than a move-in ready property. Ultimately, the “most” you can negotiate is what the seller is willing to accept.

2. How to negotiate the purchase of a house?

Negotiating the purchase of a house involves several key steps. First, research comparable sales and understand the local market. Obtain mortgage pre-approval to demonstrate financial strength. Work with a real estate agent who can guide you through the process and advocate for your interests. Make an initial offer based on your research and budget, and be prepared to counter-offer. Focus on key points like price, closing costs, repairs, and contingencies. Maintain open communication with the seller or their agent, and be prepared to walk away if the terms aren’t favorable.

3. How do you politely ask for a lower price?

Politely asking for a lower price involves framing your request respectfully and backing it with data. Acknowledge the asking price but explain your reasoning, citing comparable sales or needed repairs. For example, you could say, “We love the house, but based on recent sales in the area, we’re prepared to offer [lower price].” Or, “We’ve noticed some needed repairs, and would like to adjust our offer accordingly.” Avoid being demanding or accusatory. Focus on creating a win-win scenario where both parties feel they’ve reached a fair agreement.

4. How to Use Market Research to Your Advantage in Home Negotiations

Market research is crucial for successful home negotiations. By analyzing recent sales data of comparable properties (comps), you can determine a fair market value for the house you’re interested in. This data allows you to make informed offers and justify your position during negotiations. Understanding market trends, such as whether it’s a buyer’s or seller’s market, helps you gauge how much leverage you have. Use this information to confidently negotiate a price that aligns with market realities.

5. Negotiating Home Repairs: How to Get the Best Deal After an Inspection

After a home inspection, you can negotiate repairs or a price reduction based on the findings. Prioritize major issues that affect safety or structural integrity. Present the inspection report to the seller and request specific repairs or a credit towards closing costs. Be reasonable and focus on essential repairs rather than minor cosmetic issues. Your real estate agent can help you navigate this process and negotiate a fair agreement with the seller. If the seller refuses to address significant issues, you may consider walking away from the deal.

Continue reading:

1. Considering a Joint Home Loan: Yes or No? What to Do if I Break Up After Purchasing a House?
2. How To Do a REN Check Before Appointing them to Sell or Rent your Property
3. Need Some Tips for Buying A Home in Your 20’s? Learn From These First Home Buyers’ Experiences!

The post 5 Expert Tips to Negotiate with Homeowners for a Better Deal appeared first on IQI Blog.

The contents of this article were contributed by Joyce Yeoh, IQI Real Estate Negotiator & Head of Team.

Ever feel like there just aren’t enough hours in the day as a property agent?  

Scheduling appointments, paperwork, marketing and following up with client can be exhausting.

But what if there was a way to boost your sales without sacrificing your time?  

AI-powered chatbots are something that can help you with! 

1. Leads Trainings

Frustrated by the time-consuming nature of onboarding new property agents?  

The traditional process often involves a significant “time investment” in training them industry knowledge.

However, only to see the new recruits leave shortly after, which makes you even more disappointed. 

By incorporating chatbots into your training program, you can create a more efficient and engaging learning experience.  

Chatbots can automatically send the learning materials and interactive quizzes to the new agents.

Most importantly, it is available 24/7 to answer their questions.  

It saves your time and allows you to focus on more strategic tasks like mentoring and coaching that empowers your team.

2. Client Engagement

Forget about phone calling – who even picks up calls nowadays?  

Online messaging platforms, such as WhatsApp, seem hot, but juggling messages from day to night can be a nightmare.  

A missed message can mean a missed sales opportunity too. 

Auto-replies from chatbots can help you to deliver ultimate fast response message, even when you are not on your phone.    

There are some tips from Joyce, multi-sensory approach will attract people to continue engaging with you.

For example, sending listing’s videos, photos, messages with call-to-action and voice messages altogether.

Never too late for the property agents to embrace these communication tools in boosting the sales!

3. Appointments Scheduling

Scheduling appointments with clients sounds easy, but it is never not… 

Imagine you have up to 20 groups of clients who would like to schedule appointments with you at the same time.  

It will take you a lot of time to confirm everyone’s appointment details. 

By using chatbots, chatbots can ask clients questions to understand their needs and the type of appointment required to increase efficiency.  

Clients can schedule appointments directly by choosing a time slot from your available calendar.

Chatbots will confirm the appointment and send reminders to you and the client. 

Not only that, chatbots can also help gather information from clients before you meet them in showroom, such as their preferred location, budget and date to move into the property. 

4. Client Follow-Up

Some clients just stop responding after you asked them “can I make an appointment with you to explain further?”.  

While follow-ups are essential, the constant chase can be time-consuming.

You can set up your chatbots to send personalized reminders to the clients who have no scheduled appointment.

Gently nudging them back to consider the exciting projects awaiting them.

Chatbots can do these tasks on behalf of you, freeing you to focus on other crucial tasks!

With the development of AI, customers no longer need to wait for a message reply from you.

Instead, they will get instant answers from chatbots instead.

Those happy customers might just convert on the spot, all thanks to your tireless AI assistant.

So, are YOU ready to unleash the power of AI chatbots on your sales force?

The contents of this article were contributed by Joyce Yeoh.

Joyce is the Head of Team in IQI Realty’s Elite Team, with 5 years of experience in real estate. She has received numerous awards for her excellent performance, such as the StarProperty All Stars Negotiator Award 2022. She is also a 3-time recipient of the IQI Rolex Achiever Award.

This info was presented in Terrific Tuesday, a comprehensive training program designed exclusively for IQI agents.

Join IQI NOW to elevate your professional expertise in real estate market!

Continue Reading:

1.Why They Buy: 6 Game-Changing Factors You Need to Know to Win Over Customers Today

2. All You Need To Know About A Good Property Agent!

3. How to Utilize the Latest Technology in Real Estate to Boost Your Productivity​

The post Still Wasting Time on Cold Calling? Discover How Implementing AI Can Maximize Your Sales appeared first on IQI Blog.

Finding the right property agent in Malaysia can be an important step in your real estate journey, whether you’re buying, selling, or renting a property.

As the real estate market evolves, the role of a property agent becomes very important. This article will guide you through the process of finding a property agent in Malaysia, focusing on the importance of expertise, trustworthiness, and local market knowledge.

Understanding the Role of a Real Estate Agent

A property agent, often referred to as a real estate agent, is a professional who acts as an intermediary between buyers and sellers in the real estate market. They possess in-depth knowledge of property listings, market conditions, and legal requirements.

In Malaysia, estate agents and property managers are regulated by the Board of Valuers, Appraisers, Estate Agents, and Property Managers (BOVEAP), ensuring that they maintain professional standards.

A good real estate agent knows all about the negotiating deals between buyers and seller, know all the insights into today’s market, and has a wide network of people in the business, like lawyers and builders, which is really helpful in the process.

Furthermore, Agents take care of all the paperwork and make sure everything goes smoothly from start to finish when someone buys or sells a house.

Therefore, being a good real estate agent comes with a lot of benefits, like earning a lot of money, having a flexible job, and getting incentives when they sell a lot of houses.

Agents meet lots of different people and make new friends in their job, which can be really fun. They get to be their own boss and make their own decisions. Every day is different, so they never get bored.

If you want to know more about how to become a property agent, learn how to do that in just 5 steps here.

Beginning Your Search for a Property Agent

When you start looking for a property agent or real estate agent, consider the following:

1. Local Expertise: Agents with experience in your specific area, such as Kuala Lumpur or other major cities, can provide valuable insights into the local real estate market.
2. Reputation and Reviews: Look for agents with positive reviews and a strong reputation in the industry. Recommendations from friends or family can also be a good source.
3. Professional Credentials: Ensure that the agent is registered with the Board of Valuers, Appraisers, Estate Agents, and Property Managers (BOVEAP) and is affiliated with a reputable estate agency.
4. Communication Skills: Your agent should be someone you can communicate with effectively. They should understand your needs and be able to provide clear, concise advice.

Evaluating Property Agents and Real Estate Agencies

When you have a shortlist of potential agents, consider the following factors:

1. Experience and Track Record: Look at the agent’s past transactions and success rate. Experienced agents often have a better grasp of the market and negotiation skills.
2. Marketing Strategies: Understand how a real estate agent plans to market your property if you are selling. Effective marketing can significantly impact the speed and success of the sale.
3. Services Offered: Some agents offer additional services such as property valuation, market analysis, and legal paperwork assistance. These can be beneficial, especially for first-time buyers or sellers.
4. Fee Structure: Discuss the agent’s commission or fees upfront. Understanding the cost involved can help you budget accordingly.

Leveraging Online Resources

In the digital age, online platforms are invaluable for finding property agents. Websites and apps can connect you with agents and provide user reviews and ratings. Social media platforms are also useful for showing an agent’s market presence and professional network.

Conducting Interviews with Potential Agents

Once you’ve narrowed down your options, arrange interviews with the agents. This gives you a chance to assess their communication skills, understanding of your needs, and their overall approach. Ask questions about their experience, strategies for dealing with challenging situations, and their network of contacts.

Making the Decision

After conducting interviews, evaluate each agent based on their expertise, experience, and how well they align with your real estate goals. Choose an agent who you feel comfortable with and who has demonstrated the ability to meet your specific needs.

Conclusion

Finding the right property agent in Malaysia requires careful consideration and research. By focusing on local expertise, professional credentials, and effective communication, you can establish a successful partnership with a real estate agent that meets your needs.

Remember, the right agent can make a significant difference in your real estate experience, whether you’re buying, selling, or renting a property in Malaysia in 2024.

If you’re interested in becoming a real estate agent and being part of an exciting and rewarding career, come and join IQI.

As a leading global real estate firm, IQI provides the ideal platform for aspiring agents to learn, grow, and succeed.

Whether you’re new to the field or looking to enhance your career, IQI’s expertise and resources can help you reach new heights.

Start your journey with IQI today and be part of a team that’s reshaping the future of real estate.

The post How to Find Your Property Agent in Malaysia appeared first on IQI Blog.