A real estate agent or real estate negotiator is a qualified individual who coordinates real estate dealings by connecting buyers and sellers and representing them in discussions. The capability to close a deal determines how much money a real estate agent or negotiator makes because commissions, which are often a percentage of the property’s sales price, make up the majority of their compensation. When becoming a real estate agent or real estate negotiator, there will be an abundance of benefits to look forward to and the benefits are definitely attractive. There are a few things you would need to acquire before becoming a real estate agent or real estate negotiator in Malaysia. There is also a distinct difference between a real estate agent and a real estate negotiator that you can find out below! But before that, here are some jargons you should get used to.
- REA: Real Estate Agent (Property Agents)
- REN: Real Estate Negotiator
- PEA: Probationary Estate Agent
- BOVAEAP: Board of Valuers, Appraisers, Estate Agents and Property Managers (of Malaysia)
- TPC: Test of Professional Competence
Should You Be REA or REN?
Real Estate Negotiator (REN)
Real estate negotiator is a person who works for a licensed estate agent. Although they are qualified to practise, they are not registered with the Board. To be hired by the real estate firm, they must meet the following criteria. They are required to participate in a two-day real estate training, and they will receive a certificate of completion. With the certification, people can look for work with a real estate company under a “Contract of Service” or “Contract for Service.” The real estate company will subsequently submit an application to the BOVAEA for the REN Tag. A REN number will be certified, assigned, and given a tag by BOVAEA. Only then will the REN be eligible to work for the company as a seller, landlord, buyer, or tenant representative during the sale and marketing of real estate. This is a shorter route of working in the real estate industry.
Real Estate Agent (REA)
The objective before becoming a real estate agent in Malaysia is to complete your Test of Professional Competence (TPC). The test will qualify you to register as an REA and grant you the E number (E XXXX) that will permit you to practise. Only after a year or two of practical instruction is the TPC (Test of Professional Competence) available (among other things). It consists of both the physical and writing work you must accomplish over the course of one or two years. That would include an oral “Professional Interview” at the conclusion of those two years.
Compared to becoming a real estate negotiator, a real estate agent is much more complex as you would have to take multiple exams, courses, and this would be a longer route to becoming part of the real estate industry. If you are really interested in working in the real estate industry, plan your path now. Decide which suits you the best. Once you have completed your necessary certifications and requirements, you’re good to go!
Prepare for the Lifestyle of a Real Estate Negotiator
Different jobs have different lifestyles, just like real estate negotiators, you would have different factors to consider. The variety of each day’s events is one of the best things about being a real estate agent in Malaysia. Agents interact with new people, visit new locations, and adapt to the fluctuating demands of clients and sellers, which frequently necessitates making last-minute changes. Your job would require you to shift places from time to time and your work hours are not set in stone but rather flexible. You would also have to consider acquiring certain soft skills such as communication, confidence, decision-making, understanding, and most definitely negotiation skills.
Choosing the Right Real Estate Agency
With so many real estate agencies in Malaysia, finding out which is the best choice for you could be difficult. Here are some of the main factors to simplify your search when applying for an agency.1. Training and Guidance
Find an agency that provides training sessions and proper guidance on how to be a successful real estate negotiator in Malaysia. Regardless of how self-assured you are, you will still require assistance as you learn the ropes in your new line of work. Some organisations provide official mentorship and coaching programmes on a variety of topics, including sales, techniques, and morals. Make sure the company you select will offer you the assistance you require to succeed.
2. High & Fast Commission
Be sure that your real estate agency is able to provide high commissions for all the hard work you will be putting yourself into. Regarding income shares and payment systems, real estate offices can vary greatly. Prior to choosing a real estate agent, it’s critical to take into account all of these expenses.
3. Great Working Environment
Having a supportive and positive team is necessary for every workplace and in the property industry. You would need to have a good support system to be more motivated and learn better from other real estate negotiators in Malaysia. With a positive environment, you would be able to grow and learn better from your colleagues in this competitive industry.
4. Rewards and Benefits
By receiving rewards and benefits every now and then, you would feel much more accomplished for all the efforts you have put into your work. Simple rewards for the number of successful clients you had over the year and your rapid growth in performance definitely shows how much you are appreciated.
If you’re looking for an agency that provides you with all of the above, look no further. Join iMazing today and be our next iMazer by dropping us a message here!
Reference:
- https://www.iproperty.com.my/guides/how-to-become-property-agent-real-estate-agent-malaysia-56416
- https://www.propertyguru.com.my/property-guides/what-is-the-difference-ren-and-rea-15930
