Selling And Renting Of Real Estate Companies in Malaysia

The Malaysian government has placed several restrictions on the selling and renting of real estate companies in the country. These restrictions are meant to protect the interest of the Malaysian people and to ensure that only qualified and reputable companies are allowed to operate in the country.

One of the most notable restrictions is the requirement for all real estate companies to be registered with the Board of Valuers, Appraisers and Estate Agents. This registration is necessary in order to obtain a license to operate in Malaysia. The board is responsible for ensuring that all real estate companies meet the necessary standards and requirements.

Another restriction is the requirement for all real estate companies to appoint at least two licensed real estate agents. These agents must be registered with the Board of Valuers, Appraisers and Estate Agents and must have a valid practicing certificate.

In addition, all real estate companies must display their license prominently at their office and must make available a copy of their license to any prospective buyer or tenant.

The Malaysian government has also put in place a code of ethics that all real estate companies must adhere to. This code of ethics includes a prohibition on making false or misleading statements, as well as a requirement to treat all customers fairly and equally.

failure to comply with any of these restrictions can result in severe penalties, including a fine of up to RM100,000 and/or a jail sentence of up to two years.