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Tuesday, June 24, 2008

MIEA calls for more estate agents on board

KUALA LUMPUR: The Malaysian Institute of Estate Agents (MIEA) wants the board of valuers, appraisers and estate agents to have more estate agents to “truly” reflect this group's contribution.

MIEA president K. Soma Sundram said it was disheartening that MIEA had only two members on the board.

K. Soma Sundram

“We will be writing to the board on this issue soon. We in MIEA do not want to see that policy repeated in the registration of negotiators.

“This subject is close to our heart and almost every estate agent I have met feels that the negotiators are the pride of estate agents and should be their custodians,” he said at the MIEA annual dinner here recently.

He said MIEA had made significant contributions to the property sector. “Gone are the days when we were not even considered players in the industry.

“It is time MIEA is consulted and invited for meetings and discussions (with the Government) which may include pre-Budget meetings.”

He added that MIEA was prepared to submit suggestions to the Customs Department on service tax collection.

On the registration of negotiators, he said the exercise should be done by MIEA, adding that this was gaining momentum and attracting interest at all levels.

“Some see it as a great opportunity to make money through the registration; some are fearful that this exercise will create an imbalance in the control of the fraternity, while some pessimists believe it is a waste of time,” he said.

He said MIEA should not be sidelined in this issue because only MIEA represented the estate agency profession and practice. Moreover, it had implemented this programme for the last 10 years with over 2,000 negotiators.

“It is our view that we don’t need to reinvent this particular wheel. I must agree that there is room to improve this registration,” he added.

On commissions payable to negotiators, he said half the agents wanted a 70% ceiling while the other half wanted an open plan.

“We will soon submit our proposal to the board and hope it will act on the suggestions swiftly.”

At the dinner, he officially launched the MIEA ‘UNITY 500’ campaign to attract 500 members.

By The Star (by S.C.Cheah)

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