Cops bust cooperative conducting real estate agency business illegally

2020-03-14

KUALA LUMPUR: The Malaysian Institute of Estate Agents (MIEA) has thanked the police and the Board of Valuers, Appraisers, Estate Agents and Property Managers (Boveap) for a recent raid on the premises of a cooperative allegedly conducting real estate agency business illegally.

MIEA president Lim Boon Ping said this form of “natural justice” action had been long overdue.

The institute looked forward to Boveap taking stringent measures as there were thousands of such illegal real estate agents and businesses across the country.

“There are also project marketing firms and individuals acting as illegal brokers in land sales.

“Some brokers use yellow signs on lampposts and some do rental transactions in the name of providing insurance premiums.

“It is a big move by the police commercial crime division to act against these illegals.”

The institute said action can be taken against them under Section 30 and Section 30A of the Valuers, Appraisers, Estate Agents and Property Managers Act.

MIEA has launched its own public awareness campaign called #MYREALAGENT to educate the public on the dangers of using illegal brokers.

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