Saturday, September 5, 2009

REAL ESTATE AGENTS' LICENCE

The Board of Valuers, Appraisers and Estate Agents (BOVEA), (www.lppeh.gov.my ) under the Valuers, Appraisers and Estate Agents Act 1981 (Act 242) is the licensing authority of Real Estate Agents (REA). Although, there are a few diplomas from local universities recognised by the BOVEA, the requisite examinations for the purposes of registration is the Estate Agents' Examinations (EAE) of the BOVEA.

These examinations are conducted once a year by the BOVEA and are in two parts. Part One is the First Exam and comprises 6 papers, which are:

1 Principles of Accounting
2 Building Technology 1
3 Principles of Economics
4 Principles and Practice of Marketing
5 Introduction to Law
6 Property Taxation

Part Two of the examinations also comprise 6 papers and these are:

1 Building Technology 11
2 Estate Agency Law
3 Laws Relating to Property
4 Real Estate Agency Practice
5 Principles of Valuation
6 land Economics

Part One of the written examinations must be completed before Part Two can be taken. Three (3) years' time is given for each candidate to pass each of the examinations. Candidates can take all or at least two subjects at a time. Passing marks are 50%.

After passing the written examinations, a candidate is required to work supervised by a registered REA, and must fulfil the Test of Professional Competence of the BOVEA before an authority to Practice is issued.

The basic entry qualifications for the written examainations are:

Sijil Pelajaran Malaysia or its equivalent with not less than three (3) credits and two (2) passes. One of the credits shall be in either Mathematics, Science, Accounting or Commerce.

For examination particulars please visit www.lppeh.gov.my

For coaching and training in the examinations
contact muarm@yahoo.com
Tel +6012 2999 822

LICENSING FOR REAL ESTATE

In Malaysia, Real Estate is a regulated profession, in the sense that there must be a formal educational qualification followed by supervised and regulated working experience and a Test of Professional Competence (TPC), before one can be registered and given an Authority to Practice by the Board of Valuers, Appraisers and Estate Agents, [http://www.lppeh.gov.my/], the regulatory Board set up by Parliament to administer, regulate, oversee and generally ensure the observance of the code of ethics and enforce the practice standards for all registered persons.

The normal route to an educational qualification before the TPC, is through an undergraduate degree from a recognised university in the recognised disciplines for Valuers, Property Managers and Property Consultants and a diploma level qualification for Estate Agents.

This route is available in Malaysia for school leavers, be they Sijil Pelajaran Malaysia holders, or Sijil Tinggi Pelajaran Malaysia holders. Those wanting to do the same courses can also enrol in universities in the United Kingdom, United States, Singapore, Australia and New Zealand, which remain popular countries for tertiary education in real estate.

Those who wish to study in Malaysia and do not have the opportunity to enter a university in Malaysia, can still do it in Malaysia.

The Institution of Surveyors, Malaysia (ISM), [www.ism.org.my], representing the umbrella for the surveying professions of Land Surveying, Quantity Surveying, Building Surveying and the Property Consultancy and Valuation Surveying (PCVS), has been conducting examinations leading to a professional qualification in the related areas.

Of concern and importance to this blog is the Direct Final Examinations (DFE) of the PCVS (http://www.ism.org.my/index.php?option=com_content&view=article&id=18&Itemid=4. )These are examinations that are conducted by the ISM once a year.
Who are eligible to sit for these examinations:

1 those who possess an undergraduate degree from a recognised university by JPA
2 those who are 27 years of age and have not less than 5 years working experience under a registered valuer
3 those who are registered estate agents and have not less than 5 years post license experience

These people can apply to sit for the DFE of the PCVS.

The DFE comprises 10 papers. Candidates can take any number of papers at each sitting. Once a paper has been passed then that paper need not be repeated. The candidate is generally given 6 years to pass all the papers. Passing marks are 50%. All examination papers are 3 hour papers and candidates will have to answer 5 out of 7 or 8 questions. Generally all questions carry equal marks. The examination subjects are:

1 Law of Property
2. Principles of Town and Country Planning
3 Land Economics
4 Urban Economics
5 Applied Valuation 1
6 Applied Valuation 11
7 Property Management 11
8 Building Technology 11
9 Building Maintenance and Management
10 Land Administration and Taxation

Further information of the ISM Examinations can be obtained from the ISM http://www.ism.org.my/ or from me muarm@yahoo.com.

mani

Direct Final Classes

We are happy to announce the starting of the Direct Final Examination Coaching Classes for the Property Consultancy and Valuation Surveying (PCVS) examinations of the Institution of Surveyors Malaysia from July 2010.

The first batch of classes is for new intake and all those who are interested in the six papers; these are:

Applied Valuation I
Applied Valuation II
Property Law
Principles of Town and Country Planning
Land Economics
Urban Economics

The second batch will begin in early September for the following subjects:

Property Management
Land Adminsitration and Property Taxation
Building Technology II
Building Maintenance

Tuition and Coaching for each subject is for 10 weeks of two hour duration each week. There will be two subjects done each week on Saturdays from 1400 hours to 1630 hours.

Venue is Resource Centre, Institution of Surveyors Malaysia,

Registration and classes are currently on-going. Those interested please contact me.

Mani Usilappan
tel 012 2999 822
email muarm@yahoo.com