This just some information which i wish to share

Overview
The Board of Valuers, Appraisers and Estate Agents Malaysia was set up in 1981 under the purview of the Ministry of Finance, Malaysia. The setup and operation of this Board is governed by the provision of Valuers, Appraisers and Estate Agents Act 1981. Its primary function is to regulate the Valuers, Appraisers and Estate Agents practising in Malaysia.




Functions
* To keep and maintain the Register of Valuers, Appraisers and Estate Agents, Probationary Valuers and Probationary Estate Agents and firms of Valuers, Appraisers and Estate Agents.
* To approve and reject applications for registration.
* To hold disciplinary proceedings.
* To conduct examinations.
* To prescribe Scale of Fees.
* To regulate the professional Conduct/Ethics of Valuers, Appraisers and Estate Agents.
* To award scholarships




The Board of Valuers, Appraisers and Estate Agents Malaysia
A-27-15 Level 27,
Menara UOA Bangsar,
No. 5 Jalan Bangsar Utama 1,
Bangsar,
59000 Kuala Lumpur.

Tel : 03-2288 8815/ 2288 8816/ 2288 8817
Fax : 03-22888819

Opening Hours
Monday-Thursday
8.00am - 5.00pm
Friday
8.00am - 12.15pm, 2.45pm - 5.00pm





The Functions of The Board are:
To keep and maintain the Register of Valuers, Appraisers and Estate Agents, Probationary Valuers and Probationary Estate Agents and firms of Valuers, Appraisers and Estate Agents.

* To approve and reject applications for registration.
* To hold disciplinary proceedings.
* To conduct examinations.
* To prescribe Scale of Fees.
* To regulate the professional Conduct/Ethics of Valuers, Appraisers and Estate Agents.
* To award scholarships



This post has been edited by hmchan911: Feb 10 2010, 10:46 PM

Role of Registered Valuers, Appraisers and Estate Agents
Valuers

Only a registered valuer can call himself a – "Valuer", "Land Economist", "Property Consultant" or "Property Manager". He can carry out the practices of valuation, property management or property consultancy. He is educated and trained in all areas of real estate use and development, and is registered only after passing the Test of Professional Competence set by the Board.

The valuation of real estate is needed for the following purpose:

* Financing and credit facilities
* Acquisition and disposal
* Taxation or other statutory purposes
* Investment or other corporate management activities
* Securitisation and other asset valuation purposes
* Market and feasibility studies

In the exercise of his professional practice, the registered valuer is bound by various guidelines and practice directions issued by the Board such as the Manual of Valuation Standards.

Appraisers

Appraisers are registered under Part V of the Act because of their long experience and earlier registration under the various Appraisers Acts. Appraisers can, and are allowed to, practise valuation and property management but unlike the Valuers they are restricted in practise by geographical areas and value.


Estate Agents

Only those who are registered under the Board can act as Estate Agents. They provide a service in buying, selling, leasing properties for clients so that, optimum returns can be achieved.
Property Management

Currently only a registered valuer can practice as a Property Manager. The property manager ensures that the owner gets the best returns of his property investment. He also ensures that the building is well maintained, the building services well looked after and all expenses paid. He is able to optimise usage and enhance the investment in property. He advises on lease renewals, selection of quality tenants and the appropriate tenant mix.





Number of Firms & Registred Members & Probationary Members (Active)
Firms
Firm Type

Firms
Valuer & Estate Agent (VE)
278
Valuers (V)
72
Appraisers & Estate Agent (AE)
10
Estate Agents (E)
898
Estate Agent & Property Management (EPM)
8
Property Management (PM)
33


Registered Members
Licence Type

Members
Registered Valuers (V)
640
Registered Appraisers (A)
18
Registered Estate Agents (E)
1545



Probationary Members
Licence Type

Members
Probationary Valuers (PV)
539
Probationary Estate Agents (PEA)
252

This post has been edited by hmchan911: Feb 10 2010, 10:48 PM

1.0 MVS 2006

The new Malaysian Valuation Standards comes with seventeen standards and two introductory chapters. The introductory chapter commences with definitions of terms and words used in the standards. This is to ensure that the terms are used correctly so as to minimise ambiguity.
The second introductory chapter is on general concepts and principles normally used in the valuation profession. Concepts are explained so that the valuer and other users of the standards are clear about the concepts and principles that are being used. Some of the concepts discussed are "Real Estate”, “Real Property”, “Price”, “Cost” , ”Highest and Best Use", "Utility" and “Market Value”. Certain of these concepts and principles are partly extracted from the International Valuation Standards.



1.1


The Valuation Standard One relates to the use of market value as a basis of valuation. The definition for this term is now acceptable in all countries that are members of the International Valuation Standards Committee. The definition which is adopted from the International Valuation Standard, is as follows:


* Market Value is the estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arm’s-length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently and without compulsion.
* This standard requires the use of market value as basis of valuation for all purposes unless specifically instructed to do otherwise.



1.2


The Valuation Standard Two addresses the circumstances when market value is not used as a basis of valuation. The standard required here is for the valuer to state the purpose and explain the basis used in the valuation distinguishing this valuation from market value. Besides that the standard also explains some of the more common bases of valuation other than market value. Some of these bases are Value in Use, Investment Worth, Insurable Value, Special Value and Forced Sale Value.



1.3


The Valuation Standard Three outlines the standards expected when preparing valuation reports for financial reporting. Areas covered involved the understanding of the requirements of the Malaysian Accounting Standards and that of the Securities Commission and Bursa Malaysia (formerly Kuala Lumpur Stock Exchange) when valuing properties. Fair value when determined is similar to market value.


1.4


The Valuation Standard Four sets out the standards required when valuing properties as collaterals for lending to financial institutions. When valuing for project lending, Valuers are encouraged to incorporate recommendations that lending institutions should carry our feasibility studies prior to approval.


1.5


The Valuation Standard Five deals with the standards of a valuer and his qualifications. The standards require that a valuer must possess the necessary qualification and possess the necessary experience, competency and expertise in the area of work that he has undertaken to perform. The circumstances under which an independent valuer operate are also outlined.


1.6


Valuation Standard Six discusses the condition of engaging a valuer. Amongst the requirements are the purpose of the valuation and intended use of the valuation, the date of the valuation, the interest, basis of valuation, assumptions to be made, the fees payable and the limits or exclusion of liability to other parties.


1.7


Valuation Standard Seven discusses the various purposes of valuation and the basis of valuation for each purpose. The common purposes are for lending, fire insurance, financial reporting, sale and purchase, submission to the Security Commission purposes and for compulsory acquisition.


1.8


Valuation Standard Eight deliberates the standards required for a proper inspection and referencing of property and neighbourhood. It also encompasses the management of data for a valuation can be done.


1.9


Valuation Standard Nine lays down the standards required in a valuation report. Valuation report must contain adequate information to allow those who need and rely upon the report to fully understand the data, rationale, analyses and conclusions. It must also state any assumptions and limiting conditions upon which the valuation is based.


1.10


Valuation Standard Ten sets out the standards for preparing revaluation reports of an interest in property which are essentially carried out in situations where a previous valuation has been done by the same firm within a period of 5 years.


1.11


Valuation Standard Eleven explains the standards pertaining to certain limited cases where a detailed report may not be essential in communicating an opinion of value to the client. Such instances include situations where a previous valuation has been done by the Firm and a financial institution which has loaned funds on the collateral security of the property now requires an update of the value for the sole purpose of assessing the adequacy or otherwise of the collateral security.


1.12


Valuation Standard Twelve deliberates on the various methods of valuation that are used by valuers amongst which are the Comparative Method, Investment Method, Residual Method, Cost Method and the Profits Method


1.13


Valuation Standard Thirteen considers the use of assumption in valuations. All such assumptions must be clearly spelt out in bold and capital letters in the Terms of Reference, Opinion of Value, and Other Appropriate Sections of the report. In almost all cases a "as is" valuation must also be made. The report should note the inappropriateness of the valuation being used for financing facilities unless appropriate professional advice has been sought.


1.14


Valuation Standard Fourteen spells out the standards for the valuation of plant and machinery. In most instances the basis of valuation is market value. Items to be valued must be properly inventoried, inspected and adequately described.


1.15


Valuation Standard Fifteen states that all standards issued by the Securities Commission must be strictly adhered to.


1.16


Valuation Standard Sixteen sets out that “Guidelines on Asset Valuations” issued by the Director General Of Insurance, Central Bank must be strictly adhered to.


1.17


Valuation Standard Seventeen sets out the standard limiting conditions under which the report is prepared. Any other limiting conditions must be agreed with he client and spelt out in the report.

This post has been edited by hmchan911: Feb 10 2010, 10:49 PM

General Code of Conduct and Ethics for Registered Valuers, Appraisers and Estate Agents

* Every registered valuer or appraiser or estate agent are duty bound to render service to his client with absolute fidelity, and to practise his profession with devotion to the high ideals of integrity, honour and courtesy, loyalty to his country, and also to conduct business in the spirit of fairness and goodwill to his fellow professionals in the real estate industry.

* A registered valuer or appraiser who acts as an estate agent to a transaction should not subsequently value the same property for the same purchaser.

* All valuation reports must follow the format and guidelines issued by the Board from time to time.

* No registered valuer, appraiser or estate agent shall, directly or indirectly, allow or agree to allow participation by any person or company, other than a registered valuer, appraiser or estate agent in the profits of his professional work.

* It is a duty of a registered estate agent to protect the public against fraud, misrepresentation and unethical practises in respect to all real estate transactions.

* A registered valuer, appraiser and estate agent must inform his client of the nature of any business connection , interest or other affiliations he may have in connection with the service to the client.

* A registered estate agent shall not accept fees from more that one client in any one transaction.

* A registered estate agent shall not act for one party to a transaction while another registered estate agent from the same firm or related or affiliated firm, is acting for the other party to the same transaction except with the knowledge and consent of the parties concerned.

* A registered estate agent’s name and signature must appear on all proposals, reports and other documentation prepared by him indicating his status as a registered estate agent.

* A registered valuer’s, appraiser’s and estate agent’s branch offices shall be headed by a resident registered valuer or appraiser or estate agent.






This post has been edited by hmchan911: Feb 10 2010, 10:50 PM

SEVENTH SCHEDULE (RULE 48)
A. VALUATION
1. Fees payable by the Land Administrator under the Land Acquisition Act for Valuation reports.

From (RM)


To (RM)


Fees (RM)

1


50,000


1,500

50,001


500,000


2,500

500,001


1,000,000


3,500

For awards greater than RM1,000,000 the fee shall be a minimum of RM 3,500 plus the fee based on the following rate:

From (RM)


To (RM)


Rate (%)

1,000,001


2,000,000


6/25%

2,000,001


7,000,000


5/25%

7,000,001


15,000,000


3/20%

15,000,001


50,000,000


3/50%

> 50,000,000





6/250%

The fees payable shall be based on the amount awarded by the District Land Administrator. It shall be payable upon the submission by the person claiming compensation based upon a valuation report prepared by a registered valuer or appraiser in accordance with the guidelines issued by the Board for the valuation report. It does not include disbursements nor fees/disbursements for work done in preparation for negotiations and court attendance.
2. Fee for capital valuation for submission to Securities Commission, the Central Bank of Malaysia and plant and machinery valuation services.

3/8 % on the first RM 100,000

3/10 % on the residue up to RM 2 million

1/4 % on the residue up to RM 7 million

3/16 % on the residue up to RM 15 million

3/20 % on the residue up to RM 50 million

1/10% on the residue up to RM200 million

1/15% on the residue up to RM500 million

1/20% on the residue over RM500 million

Minimum Fee : As above, subject to a minimum fee of RM 2,000 per property.
3. Fee for other capital valuation/rating valuation services based on an “Improved Value” basis.

1/4 % on the first RM 100,000

1/5 % on the residue up to RM 2 million

1/6 % on the residue up to RM 7 million

1/8 % on the residue up to RM 15 million

1/10 % on the residue up to RM 50 million

1/15% on the residue up RM200 million

1/20% on the residue up to RM500 million

1/25% on the residue over RM500 million

Minimum Fee : As above, subject to a minimum fee of RM 400 per property.
4. Fee for rental and rating valuation services.

7 % on the first RM 6,000 of annual rental

4 % on the next RM 12,000 of annual rental

3 % on the next RM 24,000 of annual rental

2.5 % on the next RM 120,000 of annual rental

1.5 % on the next RM 838,000 of annual rental

1 % on the residue over RM 1,000,000 of annual rental


Minimum Fee : As above, subject to a minimum fee of RM 400 per property.
5. Fee for mass valuation services for local authorities.

RM 45 per holding for the first 30,000 holdings

RM 40 per holding for the next 20,000 holdings

RM 35 per holding for the balance


The above fee is inclusive of all costs, except for the additional claims for attendance at objection meetings and judicial hearings.



5A. Fees for update valuation

For all update valuations carried out under the Malaysian Valuation Standards published by the Board, the fees payable shall be at a minimum of 15% of the appropriate scale of fees or RM400 per property, whichever is higher.



5B. Fees for revaluations

For revaluations carried out under the Malaysian Valuation Standards published by the Board, the fee payable shall be a minimum of 30% of the appropriate scale of fees or RM400 per property, whichever is higher.
5C. Fees for Retrospective Valuations

Fees up to ten times the scale fees may be charged, depending on negotiations with the client.

However, such valuations shall not apply to land acquisition valuations.

Such valuations must be retrospective to at least 5 years from the current date.
6. Additional Claims.

In addition to the fees stated in (1) to (5C) claims may be made for :

1. The cost of printing, plans, copies of documents, lithography travelling and other expenses actually incurred;

2. A fee of RM 150 per hour or RM 800 per working day of 8 hours for negotiations, attendance at meetings with solicitors, consultants or authorities;

3. A fee of RM 200 per hour or RM 1000 per working day of 8 hours for giving evidence before judicial bodies;

4. Additional fees can be charged to the client for additional works done in preparation for negotiations and court attendance.

Note :

1. The fees stated in items 6(2) and 6(3) are chargeable for actual appearance at meetings or before judicial bodies. In the case of postponements, adjournments, etc, (where less than 24 hours notice is given) a minimum fee of RM 400 is chargeable if the meeting or judicial appearance is in the same town/city as the location of the practice and a minimum fee of RM 800 is chargeable if the meeting or judicial appearance is outside the location of the practice.

2. The claims and fees stated in item 6(1) to 6(4) with respect to land acquisition valuations shall not be claimed against the land administrator.
B. PROPERTY MANAGEMENT

An annual fee based on:

5.0% of the gross annual rent on the first RM30,000

3.0% of the gross annual rent on the residue up to RM 100,000

2.0% of the gross annual rent on the residue over RM 100,000


* The fee is applicable to each holding. The expression ‘holding’ as used here has the same meaning as defined in Section 2 of the Local Government Act 1976.

The expression ‘gross annual rent’ means the rents reserved or deemed to be reserved by the lease or lettings plus any incidental receipts collected or accounted for or both in the course of management.

Minimum fee : As above subject to a minimum fee of RM50 per month.
ADDITIONAL CLAIMS

In addition to the above, claims may be made for-

1. The cost of printing, plans, copies of documents, lithography, travelling and other expenses actually incurred;

2. A fee of RM 150 per hour or RM 800 per working day of 8 hours for negotiations, attendance at meetings with solicitors, consultants or authorities;

3. A fee of RM 200 per hour or RM 1,000 per working day of 8 hours for giving evidence before judicial bodies.

Note :

The fees stated in items (2) and (3) are chargeable for actual appearance at meetings or before judicial bodies. In the case of postponements, adjournments, etc. (where less than 24 hours notice is given), a minimum fee of RM 400 is chargeable if the meeting or judicial appearance is in the same town/city as the location of the practice and a minimum of RM 800 is chargeable if the meeting or judicial appearance is outside the location of the practice.
C. ESTATE AGENCY

1. Sale or Purchase

(a) Land and Buildings

Maximum fee of 3%

(b) Fees for other services such as joint venture, sale of company, property swaps, etc.

Maximum fee of 3%


© Chattels including Plant and Machinery

10 % of the proceeds

Minimum fee : As above, subject to a minimum fee shall be RM1,000 per property.

The above scale applies to any sale or purchase by way of private treaty, tender or any other mode of disposal or acquisition.

For Sale and Marketing of projects by registered estate agents, the fees are to be agreed between the estate agent and the client.

The above scale of fees shall not apply to the sale of foreign properties in Malaysia or sale of Malaysian properties in foreign countries.

2. Lettings

Duration of Tenancy


Maximum (Fee equivalent too)

Up to 3 years


1.25 months gross rental

Exceeding 3 years up to 4 years


1.50 months gross rental

Exceeding 4 years up to 5 years


1.75 months gross rental

Exceeding 5 years


1.75 months gross rental

Exceeding 5 years
(without option for renewal)


1.75 months gross rental

Exceeding 5 years
(with option for renewal)


1.75 months gross rental plus 0.25 months rental for every additional year


Minimum fee : As above subject to a minimum fee of 1 month rental.

For tenancies less than one year, the fee may be calculated on a pro rata basis. The above scale shall not apply to serviced offices or apartments or any other premises of a similar nature.

3. Rent Reviews - 50 % of the fees chargeable under lettings

4. Additional Claims

In addition to the fees stated in items 1 to 3, claims may be made for:

(a) the cost of printing, plans, copies of documents, lithography, travelling (only where the distance between the estate agent’s office and the property is more than 40 km) and other expenses actually incurred;

(b) the cost of media advertisements, signboards, brochures and other promotional material.

Note : The above additional claims may not be incurred by the registered estate agent without the prior concurrence of the client.



This post has been edited by hmchan911: Feb 10 2010, 10:51 PM

Qualifications Recognised by The Board as on 14 October 2009
! Please take note !
All twinning programmes with foreign institutions / universities will
need to be accredited by the Board.
For further information, please refer to the Board.
A. FOR REGISTRATION AS A VALUERS
ACADEMIC QUALIFICATIONS
A Pass in the final examination of the following:
MALAYSIA

A) University Technology Malaysia (UTM)

1. Bachelor of Surveying (Property Management)

2. Bachelor of Science (Property Management)

3. Bachelor of Science (Real Estate Management)


B) University Technology Mara (UiTM) [Formerly known as a Institute Technology Mara-ITM]

1. Advanced Diploma in Estate Management

2. Bachelor of Estate Management

C) University Malaya (UM)

1. Bachelor of Estate Management

D) Kolej Universiti Teknologi Tun Hussein Onn (KUITHO)

1. Bachelor of Real Estate

SINGAPORE

A) The National University of Singapore [Formerly University of Singapore]

1. Bachelor of Science (Estate Management)

2. Bachelor of Science (Real Estate)

CANADA

A) University of British Columbia

1. Diploma in Urban Land Economics


AUSTRALIA

A) RMIT University [Formerly known as Royal Melbourne Institute of Technology]

1. Diploma in Valuation

2. Bachelor of Business (Property)

3. Bachelor of Business Property (Valuation Option)

4. Bachelor of Applied Science (Valuation)

5. Bachelor of Applied Science (Property) on condition the candidate obtain passes in Statutory Valuation, Urban Valuation, Rural Valuation and Advanced Valuation.

B) University of South Australia [Formerly South Australian Institute of Technology]

1. Bachelor of Applied Science in Property Resource Management (Valuation)

* Candidates are required to take the following subject:

2nd Year

1. Building Constuction and Services
2. Valuation 1
3. Valuation Field Work 1
3rd Year

1. Property Development
2. Valuation 2
3. Valuation Field Work 2
4. Property Law 3

2. Bachelor of Business (Property)

* Candidates are required to take subjects that will qualify them for professional membership of Australian Property Institute

C) Curtin University of Technology [Formerly known as Western Australia Institute of Technology]

1. Bachelor of Business (Valuation and Land Administration)

2. Bachelor of Business (Valuation and Land Economy)

3. Bachelor of Commerce (Property)

D) University of Western Sydney, Hawkesbury [Formerly known as Hawkesbury Agricultural College]

1. Bachelor of Business (Land Economy - Valuation Specialisation)

* Candidates are required to take the following subject:

Rural Valuation (Val 274)
Land Surveying
Advanced Valuation Technique (Val 275)
Building System (BLD 373)
Statutory Valuation (URB 383)

Candidates are required to choose 3 other subject among the following:

Conveyancing (LAW)
Rural Land Utilisation (RUR 391)
Litigation (LAW 377)
Agency Management Practice (BUS 366)
Agency Marketing Practice (BUS 365)
Project Management (BUS 342)
Building System (BID 373)
Project Rights and Compensation

2. Bachelor of Commerce (Property Economics)

With the following electives:

Property Portfolio & Asset Management
Compulsory Acquisition and Litigation
Property Finance and Tax
Building and Facilities and Management
Valuation of Special Premises
Commercial Property Management
Investments
Building 2

E) University of Queensland

1. Bachelor of Business (Property Studies) [Formerly know Bachelor of Business in Real Property Valuation & Administration – 1982]

2. Bachelor of Business Management (Real Estate & Development)
* Passed property/valuation electives required for full Professional Accreditation with Australian Property Institute (API)

F) University of Technology Sydney

1. Bachelor of Property Economics

G) University Of Melbourne

1. Bachelor of Planning & Design/Bachelor of Property And Construction
(Passed the property stream subjects) - 13 May 2008

NEW ZEALAND
A) Lincoln University [Formerly known as Lincoln College]

1. Bachelor of Commerce (Valuation and Property Management)

B) Massey University

1. Bachelor of Business Studies (Valuation Major)

* Candidates are required to take the following subject:
1st Year

Financial Management
Introductory Computing
Business Law
Introductory Statistics
Introductory Macro-economics
Introductory Micro-economics
2nd Year

Fundamentals of Business Organisations
Administration Process
Real Estate Valuation & Management
Applied Valuation I
Agricultural & Horticultural Production
Systems (A) & (B)
Building Technology I
3rd Year

Management Accounting
Property Management & Development
Land Economics
Advanced Valuation
Applied Valuation II
Introduction to Regional Planning
Building Technology II
Valuation Law

2. Bachelor of Business Studies (Property Management Major)

* Candidates are required to take the following subject:
1st Year

Fundamentals of Accounts System
Fundamentals of Business Organisation
Introductory Business Computing
Introductory Statistics
Business Economics
Administratives and Behavorial Processes
Introductory Accounting and Financing
Business Law
2nd Year

Fundamentals of Marketing
Management Accounting
Real Estate Valuation & Management
Law of Professional and Commercial Liabilities
Contemporary and Future Management Theory
Computer In Business
Law of Property
3rd Year

Property Management and Development
Advanced Valuation
Building Technology
Planning
Business and Administrative Policy
Research Methods in Business

3. Bachelor of Business Studies (Valuation & Property Management)



C) University of Auckland

1. Bachelor of Property Administration

2. Bachelor of Property

* Candidates are required to take the following subject:

1. Property 311 : Valuation 3
2. Property 343 : Advanced Construction
3. Property 372 : Applied Valuation Project


UNITED KINGDOM


A) The City University, London, United Kingdom

1. Bachelor of Science in Property Valuation and Management

* The Board recognises this degree only for those graduating from 1986 onwards.

2. Bachelor of Science in Property

* The Board recognises this degree only for those who passed the final in and after 1986.

3. Bachelor of Science in Property Valuation & Finance

B) University of Northumbria of Newcastle [Formerly known as Newcastle Polytechnic]

1. Bachelor of Science (Hons) in Estate Management [Formerly known as B.Sc (C.N.A.A)]

2. Bachelor of Science (Hons) in General Practice Surveying [Formerly known as B.Sc (C.N.A.A)]

3. Bachelor of Science (Hons) in Urban Property Surveying


C) University of The West of England Bristol [Formerly known as Bristol Polytechnic]

1. Bachelor of Science (Hons) in Valuation and Estate Management [Formerly known as B.Sc (C.N.A.A)]

2. Diploma in Land Administration

3. Bachelor of Science in Property Management & Investment

4. Bachelor of Science in Business (Property)

D) University of Staffordshire [formerly Staffordshire Polytechnic/Stoke on Trent Cauldon College of Further Education]

1. Diploma in Valuation Surveying

2. Bachelor of Science in Valuation Surveying

3. Bachelor of Science (Hons) in Property with Business Studies (March 1998)

E) Dublin College of Technology

1. Diploma in Environmental Economics

2. Diploma in Property Economics


F) Heriot-Watt University

1. Bachelor of Science in Estate Management

G) Kingston University [Formerly known as Kingston Polytechnic]

1. Diploma in Estate Management

2. Bachelor of Science in Urban Estate Management

H) De Montfort University [Formerly known as Leicester Polytechnic]

1. Bachelor of Science (Hons) in Estate Management [Formerly known as B.Sc (C.N.A.A)]

2. Diploma in Surveying (Estate Management)

3. Bachelor of Science in Land Management

4. Bachelor of Science (Property and Business)



I) Liverpool John Moore University [Formerly known as The Liverpool Polytechnic]

1. Diploma in Estate Management

2. Bachelor of Science (Hons) in Estate Management [Formerly known as B.Sc in (C.N.A.A)]

3. Bachelor of Science in Urban Estate Management [Formerly known as B.Sc in (C.N.A.A)]



J) University of East London [Formerly known as North East London Polytechnic]

1. Diploma in General Surveying

2. Bachelor of Science (Hons) in Land Management [Formerly known as B.Sc (C.N.A.A)]

3. Bachelor of Science (Hons) in Land Administration

K) Oxford Brookes University [Formerly known as Oxford Polytechnic, Headington]

1. Diploma in Estate Management

2. Bachelor of Science (Hons) in Estate Management

3. Bachelor of Science in Real Estate Management



L) University of Paisley [Formerly known as Paisley College of Technology]

1. Bachelor of Science (Hons) in Land Economics [Formerly known as B.Sc (C.N.A.A)]

2. Diploma in Land Economics



M) University of Westminster [Formerly known as The Polytechnic of Central London and Regent Polytechnic]

1. Diploma in Urban Estate Management

2. Bachelor of Science (Hons) in Urban Estate Management [Formerly known as B.Sc (C.N.A.A)]



N) South Bank University [Formerly known as Polytechnic of the South Bank @ Brixton School of Building]

1. Bachelor of Science (Hons) in Estate Management [Formerly known as B.Sc (C.N.A.A)]


O) University of Portsmouth [Formerly known as Portsmouth Polytechnic]

1. Bachelor of Science (Hons) in Urban Land Administration [Formerly known as B.Sc (C.N.A.A)]

2. Diploma in General Surveying

3. Bachelor of Science (Hons) in Real Estate Management [Formerly known as B.Sc (Hons) in Land Management)

* Course content remain the same.


P) Sheffield Hallam University [Formerly known as Sheffield City Polytechnic]

1. Bachelor of Science (Hons) Ordinary Degree in Urban Economic

2. Diploma in Estate and General Surveying

3. Bachelor of Science (Hons) Urban Land Economics

4. Bachelor of Science (Hons) Business Property Management

5. Bachelor of Science (Hons) Residential Development and Agency

6. Bachelor of Science (Hons) Property Development


Q) University of Greenwich [Formerly known as Thames Polytechnic @ Hammersmith School of Act and Building]

1. Bachelor of Science (Hons) in Estate Management [Formerly known as B.Sc (C.N.A.A)]

2. Diploma in Estate Management


R) Nottingham Trent University [Formerly known as Trent Polytechnic]

1. Bachelor of Science (Hons) in Urban Estate Surveying [Formerly known as B.Sc (C.N.A.A)]

2. Bachelor of Science in Estate Surveying

3. Bachelor of Science (Hons) in Real Estate Management

S) University of Aberdeen (Scotland)

1. Bachelor of Land Economy

2. Post Graduate Diploma in Land Economy

T) University of Reading [College of Estate Management]

1. Bachelor of Science in Estate Management (Valuation Option)

2. Bachelor of Science in Land Management (Valuation Specialisation)

3. Bachelor of Science in Land Management (Investment & Finance)

4. Bachelor of Science in Land Management (Valuation & Property Management)

5. Master of Philosophy in Land Management

6. Master of Science in Urban Land Appraisal

* This degree is recognised subject to candidates taking the Board’s Final examination (all papers)


U) University of Glamorgan [Formerly known as Wales Polytechnic @ Glamorgan Polytechnic]

1. College Associateship in Urban Estate Management

2. Bachelor of Science (Hons) in Urban Estate Management [Formerly known as B.Sc (C.N.A.A)]. Now known as B.Sc (Estate Management Surveying)


V) University of Central England in Birmingham [Formerly known as Birmingham Polytechnic]

1. Diploma in Estate Management

2. Bachelor of Science in Estate Management

W) College of Estate Management

1. Diploma in Surveying (General Practice)

X) University of Ulster

1. Bachelor of Science (Hons) In Estate Management

Y) University of Luton

1. Bachelor of Science in Estate Management (Graduating in 1997 only)


PROFESSIONAL QUALIFICATIONS
MALAYSIA

A) Institution of Surveyors (Malaysia)

1. Diploma of the Institution of Surveyors, Malaysia (General Practice)

2. Diploma of the Institution of Surveyors, Malaysia (Property Consultancy and Valuation Surveying) - [PCVS]

AUSTRALIA

A) Australia Property Institute (API) [Formerly Australia Institute of Valuers]

1. Diploma of Australia Institute of Valuers

2. Diploma of Australia Property Institute

NEW ZEALAND

A) New Zealand Institute of Valuers

1. Diploma of New Zealand Institute of Valuers

UNITED KINGDOM

A) Royal Institution of Chartered Surveyors (RICS)

1. Diploma of the Royal Institution of Chartered Surveyors (General Practice)

B) The Incorporated Society of Valuers and Auctioneers

1. Diploma of the Incorporated Society of Valuers and Auctioneers (General Practice Division) - (1982) Syllabus


B. FOR REGISTRATION AS AN ESTATE AGENTS
ACADEMIC QUALIFICATIONS

1. All the academic qualifications recognised by the Board for registration as valuers.

2. Other academic qualifications:
MALAYSIA

A) University Technology Mara (UiTM)

1. Diploma in Estate Management (1995 onwards)

B) University Technology Malaysia (UTM)

1. Diploma in Valuation (2000 onwards)

2. Bachelor of Science (Land Administration and Development)

C) Imperia Institute of Technology

1. Diploma in Estate Management

AUSTRALIA

A) Moorabin College of Technical and Further Education, Victoria

1. Advance Certificate Course in Estate Agency

PROFESSIONAL QUALIFICATIONS

1. All the professional qualifications recognised by the Board for registration as valuers.

2. Board of Valuers, Appraisers and Estate Agents

(a) Certificate in Estate Agency

(b) Diploma in Estate Agency

3. Institution of Surveyors (Malaysia)

a) General Practice Intermediate Examination

b) Property Consultancy and Valuation Surveying Intermediate Examination



TEST OF PROFESSIONAL COMPETENCE RECOGNISED BY THE BOARD
A. FOR REGISTRATION AS A VALUERS
MALAYSIA

A) Board of Valuers, Appraisers & Estate Agents

1. Test of Professional Competence

B) Institution of Surveyors Malaysia

1. Test of Professional Competence for General Practice Surveying

2. Test of Professional Competence for Property Consultancy and Valuation Surveying

B. FOR REGISTRATION AS AN ESTATE AGENTS
MALAYSIA

A) Board of Valuers, Appraisers & Estate Agents

1. Test of Professional Competence

B) Institution of Surveyors Malaysia

1. Test of Professional Competence for General Practice Surveying

2. Test of Professional Competence for Property Consultancy and Valuation Surveying


This post has been edited by hmchan911: Feb 10 2010, 10:52 PM

Firm


Q:


What are the procedures on registration as a firm?

A:


To comply with the following :




* to do a name search;
* to complete Form N;
* to enclose a sample letterhead of the firm;
* to enclose letter of Resignation (where necessary);
* to enclose a particular Agreement for a Partnership;
* to enclose Form 49, 24, M & A for a Body Corporate.






Q:


Can the Registrant open two (2) different firms at the same times?

A:


No.






Q:


What are the procedures to terminate the existing firm?

A:


The principal or partners or Directors have to submit Form V and advertise the cessation of their firm in the local newspaper and forward it to the Board.






Q:


What are the procedures to change address of the firm?

A:


You are required to submit Form T together with the requisite fee of RM250.00.






Q:


When is the last date for submitting of renewal of the firm?

A:


The last date for submission of renewal is 31 December of that year. An extension will be granted till 31 March the following year.






Q:


What are the documents to be submitted for renewal of a firm?

A:


The following documents would request for renewal of the firm :


* a complete Form P;
* the requisite fee of RM50.00 (sole-proprietorship) and RM75.00 (partnership & body corporate);
* the audited accounts;
* the Professional Indemnity Insurance;





Renewal Of Authority To Practice


Q:


When is the due date for the renewal of Authority to Practice?

A:


Renewal begins from 1 October to 31 March of the year of practice






Q:


What are the documents required to include in the renewal form?

A:


The following documents are a mandatory :




* Certificate of CPD attendance;
* renewal fee;
* a declaration affirms that the applicant is not a bankrupt.






Q:


Is there any exemption granted from CPD requirements?

A:


Registrant above 60 years of age or who have surrendered the Authority to Practice is fully exempted. Partial exemption is granted to Registrant who have attained age of 55 years. Computation for new registrants would on a pro-rated basis.






Q:


The renewal fee for each category?

A:


* Valuer - RM200.00
* Estate Agent - RM200.00
* Appraiser (without restriction) - RM150.00
* Appraiser (with restriction) - RM100.00






Q:


How does one apply for reinstatement of the Authority to Practice?

A:


The Registrant must submit Form F together with reinstatement fee of RM400.00.






Q:


How does one surrender one's Practicing Certificate?

A:


The Registrant must write in officially to the Board enclosing the original certificate (Borang G or Borang I).






Q:


What are the procedures to comply in the event the Registrant losses his Practising Certificate?

A:


Registrant have to lodge a police report and thereafter complete Form E and forward both the documents together with a payment of RM100.00


Continuous Professinal Development (CPD)


Q:


Is there any publication on CPD rules issued by the Board?

A:


Yes. The rules and guidelines for Continuous Professional Development and its cost is RM5.00.






Q:


Would the Board advise Registrants on the latest CPD programmes?

A:


The Registrants may enquire from the Board.






Q:


Can any one organize a CPD Talk?

A:


Yes.






Q:


What are the procedures?

A:


The CPD provider has to complete a CPD organizer's form enclosing the following :




* fee of RM50.00 (per event);
* summary of the speaker's details;
* the detail of programme outline;
* a copy of the brochure.






Q:


How long does the Board take to approve an application?

A:


Within two (2) weeks from the date of such a request.






Q:


What are the organizers obligations?

A:


* to forward the paper presented in both soft and hard copy;
* to forward attendance list.
* to allocate one or two seats to the Board in the event it needs to assess the said programme.


Written Estate Agents Examination Part I & Part II


Q


What are the procedures to become an estate agent?

A.


One is required to pass both Part I & Part II of the estate agent's exam and the TPC before one becomes eligible to be registered as an estate agent.

Q


When is the date of examination?

A.


Usually in June or July depending on the availability of halls.

Q


What are the fees involved?

A.


RM50.00 processing and RM50.00 per subject.

Q


What are the minimum entry requirements?

A.


Candidate must possess an SPM/MCE with not less than 5 subject passes of which at least 3 shall be credit level passes and at least 1 of the credit level passes shall be Mathematics or Science or Accounts or Commerce, or Any other higher qualifications recognized by Jabatan Perkhidmatan Awam (03-8885 3365/60/61) or Lembaga Akreditasi Negara (03-7968 7002/57/33)

Q


Can I apply for exemptions?

A.


Yes, if the diploma or degree is recognized by the Board.

Q


What are the recognized diplomas / degrees?




Please refer to our website at www.lppeh.gov.my which displays the entire list.

Q


Can I self study?

A.


Yes, you may.

Q


When does it open for registration?

A.


2 nd January until 2 nd May every year.

Q


How many subjects are there in both Part I & Part II?

A.


Each part consists of 6 subjects.

Q


Can one take only a few subject and not all 6 subjects?




Yes, may take one or two subjects provided all 6 subjects shall be complete within 3 years

Q


Where can I get the registration form?

A.


At the Board's office.

Q
Would I be exempted from the Estate Agent's Written Examination on a subject to subject basis?

A.


No. Exemption will only be given for Parts.



Test of Professional Competence (Valuer)


Q


Where do I get the application forms for registration as PV/PEA?

A


At the Board's Reception, Plaza Sentral.

Q


When and how many times are the TPC for Valuers interviews conducted?

A


6 times a year, in the months of February, April, June, August, October and December.

Q


When is the deadline for submission of Task & interview forms?

A


By the 15 of the proceeding month.

Q


When do I submit the Work Diary/Log Book?

A


Immediately after completing the 1st year recording to submit to the examiner. Similarly to submit after completing the 2nd year of recording.

Q


How do I apply for Partial Exemption under the 10 years ruling?

A


Complete the TPC (V) 3/98 form enclosing RM100.00 and submit together with 4 copies of bound Record of Experience and Appendix C attached on all copies.

Q


What are the charges for Registration as PV?

A


RM100.00 for Registration Fee (Form A1) and RM50.00 to Register for TPC (Form TPC (V) 1/98).

Q


Which degrees are recognized?

A


Our website at www.lppeh.gov.my contains the full list.

Q


What are the operating hours of the Board?

A


8.00 a.m. to 5.00 p.m.

Q


How does one inform the Board on the change of employer.

A


Complete TPC (V) 2/98 Form and send it to the Board.


Test of Professional Competence (Estate Agent)


Q


What are the procedures involved in TPC?

A.


After passing Part I & Part II of the estate agent's examination, a candidate shall register as a probationary estate agent and undergo 2 years post-qualifying practical training and experience in Malaysia under a registered estate agent and thereafter may attend the Professional Interview (Test of Professional Competence).

Q


Where can I get the application forms?

A.


At the Board's office. The form to be completed is Form B1 and TPC EA 1/96.

Q


What are the fees payable for registration?

A.


RM100.00 for registration (Form B1) and RM50.00 for processing (TPC EA 1/96).

Q


Can I apply for exemption from undergoing 2 year practical training?

A.


Yes, you may, provided you have undergone post qualifying practical experience in real estate for a period of not less than 10 years and are required to submit Form TPC EA 2/96 with RM100.00 together with your Record of Experience (4 copies) with Appendix B.

Q


When and how many times are the TPC Interviews conducted?

A


6 times a year, the months are February, April, June, August, October and December.

Q


When is the deadline for submission of interview forms & Tasks?

A.


TPC EA 4/96 & fees of RM200.00 should be submitted 1 month before the date of the TPC Interview (i.e. by 15 th of the month).

Q


When to submit the Work Diary?

A.


After completing the 1 st year of recording a candidate is required to submit to the Board and similar procedure to be adopted after recording 2 nd year work diary. (If the candidate possess a diploma or degree which is recognized by the Board, 1st of 6 months recording to submit to the Board and subsequent submission will be after the completion of the 2nd of the 6 months of recording).

Q


The procedure when I change the employer / principal?

A.


To complete TPC EA 3/96 and send to the Board together with a photocopy of the appointment letter from the new employer.

Q


Where can I get the guidelines for TPC?

A.


At the Board's office.


Estate Agent FAQ


Q


When is an Estate Agent's fee due?

A.


Upon the signing of the sale & Purchase in case of a purchase and upon signing the tenancy agreement in a tenancy.

This post has been edited by hmchan911: Feb 10 2010, 10:56 PM

Role of Negotiators
Negotiators

Negotiators are salespersons who are not given explicit recognition in the Act or Rules but are informally recognized by the Board as assistants engaged by estate agents in their practice of estate agency under their immediate direction and supervision. Hence, negotiators are not authorised to act independently of the estate agency firm and when in doubt members of the public are advised to check with the Board or the estate agency firm concerned. Negotiators can only work for one estate agent at any one time and on a full time basis only.














Number of Negotiators (Active)
Negotiators
Members
Negotiators
5812

This post has been edited by hmchan911: Feb 10 2010, 10:57 PM

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