Yes. BOVEAP is 100% owned by The Ministry of Finance (MOF) Malaysia
Do Negotiators need to be certified by BOVEAP?
Yes. All Negotiators need to attend 2 days Negotiators Certificationi Course under the any registered association by BOVEAP. Upon obtaining NCC Certification, the Negotiator need to registered under a Registered Estate Agency Firm.
What are the penalty by Law if it's a illegal Broker?
Any person who acts in contravention of section 22(c) commits an offence under Section 30(i) of the Act and is liable upon conviction to a fine not exceeding RM300,000 or imprisonment for a term not exceeding 3 years or both.
Is leasing Estate Agency License legal?
NO. Under the Malaysian Estate Agency Standards Edition, REA are illegal to lease their License to any person.
Is Registered Real Estate (REA) Firms allow to do multi level negotiator recruitment :
NO. BOVEAP do not permit to recruit any Negotiators is such manner. All REA Firms require to designate any Negotiators as follows :
Can Negotiator sign any correspondence letters under the REA firms?
NO. Negotiators are not allow to sign any letters.
How to be a Negotiator in REA firms?
All prospective Negotiators require to attend 2 days NCC course at any panel Associations. After obtaining NCC Certification, you need to submit to the REA firms to register you with BOVEAP. Upon approval by BOVEAP, the respective Negotiators are given a REN no. and RENTAG