H P F

-
7
C A T R
-

Real Estate Agent

"

~
Person Is acting on behalf of the owner Keller lessor and/or the buyer liessee in dealing with the business of selling 1 buying

fee
"
or renting of property for a

" "
" "
~

They are sometimes also known as the broker ( illegal ) .

middlemen

~
The practice of estate agents in Malaysia is
govern by the Valuation , Appraisers and Estate Agents Act 1981 which should also be read

"

together for
"
of Appraisers Estate
with the Guidelines Estate Agents issued by the Board Valuers , , Agents and
Property
Managers from time to time .

⑥ Gdp :
Valuers
, Appraisers and Estate Agents Act 1981

:
Board established under the Valuers , Appraisers and Estate Agents Act 1981

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:
A appoints ( engages firm for firm 's
person who a and is responsible the payment of the fees

in respect of the services rendered by the firm -

Act and Regulations

Valuers Appraisers and Estate Agents
1- Act 1981
,

2 .
Manual for Estate Agents

3- Manual for Valuer

4- National Land Code

5- Land
Acquisition Act

6- Uniform
Building Act by Law

7. Contract Law

8. Town and
Planning Act

9. Environmental Act

10 -

Housing Development Act

-
-

1- Person who have been in practise prior to 7.9.84 are admitted for the registration -

They have to also proof

that they have in the previous practice ,
carried out their responsibilities well and not subjected to any allegations or

claim .

2- Person who
qualifies the following conditions :

a -
at least 21
years

b .
No criminal record

C '

sit and examinations

pass

d of post
Complete 2 years
qualifying experience
'

e .
Pass an oral examination

3-
Registered valuer can also be automatically registered provided they apply for registration
facilities

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Advice on facilitating c

:
Functions
Facilitate the transaction of property or may
be involved in rant venture agreements .

to
pertaining property development v
L
vis terms of Advice lmaintenance
Negotiation on renovation

agreement Isak and purchase price

 E # A- BRIE # 22

Real Estate Agent Duties

of
According to Evans ( 2002 )
,
the duties a real estate agent include :

I -

Listing the Property

2 .

Selling the Property

3-
Showing the Property
4 .

Qualifying the Buyer

5 .

Negotiating the sale

6 .

Preparing Sale Contract and

Arranging Financial

7- Closing the Sale

the property
listing
An agreement estate firm that firm behalf of find
-

between home and real the will act the to and

a owner a on owners try

buyers for the property .

The must to commission to the agent who

brought the best buyer before close the deal
-

owner pay a
agree ,

Basically ,
estate agent designates a specific geographical area
,
sometimes called a farm in real estate slang .

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~
the rate of commission

~
Specifies about the house : number of bathrooms bedrooms ,
. . .

Listing
~

period
~
Estate agent should advise the seller in putting their selling price

screwing the property

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Show
~
the property to prospective buyers
~
real estate agent should spend time
investigating the house to learn about features that will appeal to the buyer
location architecture refurbishment and facilities
-

, ,

building materials facing feng Shui

-

car
porch , , ,

accessibility and nearby facilities including shopping complex schools ,

and transportation
-

zoning law tax rate 1

anything that could affect the property value .

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The inform availability of

°

agent should the public and other real estate firm about the the property
°
Agents tend to distribute the information to colleague in the same company for multi
listing

Advertising
°
newspaper magazines webpage
-

, ,

Open house for

viewing
-

the property
straining
first knowing features of
-

Have an interview with customer ,

what their needs -

Try to match their needs to the the

property
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TI p
-
Be there early ~
Prepare an information sheet Ipock
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~ know the property well ~
Answer the questions raised politely
after session
~ know the unique Selling Points ( USP ) ~
Arrange an
-

showing review
 Qualifying the property

afford
°

Although the buyers their interest to buy the property However there is
possibility that the buyer cannot to buy the
express .

,
a
property
°
The rule of thumb for real estate sales was that a person could afford to spend 33
-

l .
of his or her income for housing

Estate agent should

enquiry about of income saving accounts and other assets In how of loan the buyer might qualify for
source
, ,
.

determining much a .

°
Also consider about the debts such as car loans and past credit history

°
Another factor that influence someone loan is the size of down payment
get a

L
l
? K s
negotiating the sauce L

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Adequate Preparation
-
Good verbal communication skills

Active Listener Problem

analysis
- -

preparation ,
>
t.info sharing
, 3.Bargaining ,
>
finalizing Deal
.
-

High EQ -
Be flexible

preparing sale contract

~
the real estate agent may prepare sales contract

~
the contract will setting out the terms for sale for both
parties to sign
-

~
After signing the contract
,
the buyer will deposit a small amount of percentage of the purchase price ( earnest deposit )

The will final

~
agent keep the money in a trust account until the sale is and turn it over to the seller

If
buyers default the usually deposit
contract the seller is to
keep the
~
the on permitted
-

erasing the sale

Even if the buyer locates

financing
-

seller and buyer sign the contract and the

The transfer of the is not complete until the sale is closed

property

Buyer *
from
settlement statement shows the sales the buyer minus credits unpaid estate taxes / utility bills
'

price due real

-

any
-

" " er
*
Amount of that the seller will
finally receive once the expenses of the sale have been subtracted from
lawyer 's fee for
money preparing

the transfer deed the cost of checking title and the real estate agent 's commission on the sale -

, ,
 CHAPTER 5
i.
moon
.

tf format
*
Check out the office checking out the

*
location office out the Activity
good check the checking types of
-

* website what
-

the
* are

talk to seniors , talk to

parking
-
-

ample your the Agents services that the company

~
Attractive provide :
buyers office ,

listing office etc

THINGS YOU NEED TO KNOW

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pneumaticity

Commission 2. The
company always looking for a
person who poses the following criteria :

split
Gregariousness
•

Analytical
°

mind

Training °
A
good listener
°

Holding a
good listing

Programme •
A spark
plug
•
Mature

Expenses that
°
Honest

the company will

°
Presenter

pay for you

Decision
%qBqMg 'T
°

Maker

2% While the of
time

flexible
is

hour
manny MTyRULE2
allure a
working initially drives
* *

many to real estate however it can be easy to fall into a time

$
,
µ
wasting habit

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Generally of
°

tasks that successful estate

speaking there 's
real time
,
are several high -
level consume a
majority the agent

marketing
~

-
leads

~
Online

-
Training and education

~
Paperwork and administration

~
Follow -

up

Volunteering
~
 C. H A. P -
.
TE R- -
.
6 .

bead and generate

-
gemmate money

Lead generation is a
marketing term that refers to the creation or
generation of prospective consumer interest or

What is Lead ?
business
inquiry into a
products or services .

for for
-

can be generated variety purposes

-
list
building ,
e -
newsletter list
acquisition or
winning customers .

define indication of potential

as
opportunity
-

an

Commission

closing Background
| Tr S eTaTs t eTsp ro to s t a r
Advertising
} Get close
I@ sTrTaTs t eTe e
to the
p ro to s t a r
wealthy group
}
-

converting listing offer

_ooTgToTgggese¥
to

gsdTgtg_zese¥
or

Open House Look for unwanted

l o o s e -f i t t i n g l o o s e -f i t t i n g

Referral
( old calling
| o d T tTo t eT Tdfo o tste p s
( blink calls )
} Develop
1 g d S eTaT-t f T 3
lifetime
footstool
customer

Lead
( lose
| o d S tT T-T Ta e
friends
pastorates
and relatives
}
LAMMING -

Houses don't give you listings ; People give them to you

How to get Leads from a

Geographical Farm ?

Neighborhoods can be too small or too large for efficient farming

establish listing •
Leads seldom call up and
say
:
"

Hey ,
come get a
listing
"

Why agent ?
•

should people select you as their

°
What makes you their agent ?

Reasons I '

People love like

or
you Being love trust
-
.
means that people to do
right by them
you

~
You should have integrity and always stand
up
what you believe

Reasons 2 !
Appear to be successful ~
When people list their house they are entrusting you
with
probably their most valuable asset

they are looking to produce satisfying result

Reasons 3 : Available ~
Many listing and offer have been lost to someone else because the agent simply wasn't available

to be sensitive
Loyalty tends
~
time

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different of for refusing listing agreement
Buyer have four types sign purchase
or
and seller usually reasons to a

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relevant knowledge

You following pricing Forms

-

at least in the
•
from the in areas :
knowledgeable
-

need to be get-go

Financing and
Legal -

Giving the seller advice on

preparing the property for sale
 *
CHAPTER 7¥
-
b

knowing your buyers

2x
T
Many of agents don't have for them
view how the general public regards
/
those
.

P of keeping buyer 's flighty

↳
Other reasons buyer will fib to you
-

High pressure technique

- Commitment to other agent -

Never complain about all behind the scenes work do

you

Unsure about themselves

Always buyers of
- -

remind expertise in real estate

your

Outperform competitors
-

your

Never mad at buyers

-

get

-
Be responsive

getting buyer and fetter to sign

All the terms including price and financing must be in

writing

Both parties must the agreement

sign same

If there deal
is difference in the terms between what buyer and seller signs , then there is no

Most of the time ,

buyers . . .

" " " "

, "
, ,
,

" "
"

. .
,

Want the house , but don't afraid

i .

have enough buyer 's The buyers

,

The credit is a problem are to make move

The buyers cash
'

want to low ball the sellers :

Aren't
: :

:
sure about the property :
. .
.
. .
.

"
"

.
.

-
learn whether the buyer 's credit is a

identify buyer 's financing ability either directly from the buyers
buyer about current problem
-

best houses educate the

agent may summarize the
-
-

from mortgage broker

figure
or a
out how much the buyer
market trend
-

and them to view again

bring realistically need after
securing a

mortgage
-

try to understand what they like and

dislike

survive in a preparing -
downturn

Even The Market is Down o

.

People transferred from one workplace to another

°
Still new born babies , people move I
upgrade house

People get married and divorce

°
Student graduate and start their career

How to survive in a
property downturn

or>
Have a sales and
marketing niche

as
Never stop learning
•>
Dare to experiment

•>
Invest

" "

There's no l team as

Have sales and marketing niche

Market makes it
attractive means that
you sell
property in a
way that
appealing
-

your

Never stop learning

Changes is the only consent
-

Dare to experiment

Try to work closely with them

The only still for in down perhaps investor
.

who looking property market ,

.
-

one a

"

There
"

is no l team

Apply the benefits of working as a team rather than flying solo

Lawyer -
one that does real estate deals

Insurance agent -
find one that understand land contract ,
landlords etc

" "

Contractor -
will give you free estimates and knows how to cut corners in the right places

with investors
Banker -
one that is savvy ,
creative and experienced

Partner -
in case need it for money or experience

his wing
Mentor -
Someone who will guide and growth you under
 '*
CHAPTER 8¥:*:* .

STAGES OF BUYING AND SELLING PROPERTY

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enanthate B
pure stage ⑦

The pre contract -

and contract
stage
The registration The stage include :

stage

Off OB D -

property identification
Post contract
stage Investment potential evaluation

thrumming
-

OFACONTRACT -

financing liability
-
Will consider the general property market overview ,
identification of potential or suitable property tentative
,

= value
°
to constitute assessment of price and
an
agreement between two or more parties
Agreement
,

=
there must be an offer 1 proposal and acceptance .
-

financing eligibility

-
detailed property investment investigations
=
which party pays to buy the promise or act
Consideration the price
0 one
inspection of the property
of other
'

Promise
'

between two
-
physical
= an agreement parties
-

the terms of purchase

-

negotiation
and agreement on

=
should have exact terms and no vague provisions
the agreement
Certainty
.

on a vital matter
=

marketers types of payment

= o
the parties must be competent to contract and follows Standard

capacity
=

EARNEST DEPOSIT -

Normal practice is 2 -1 .
( earnest deposit )

BOOKING FEE -

more applicable to a purchaser proceeding to buy a house from a

housing

developer as opposed to to a private individual

10 l of the purchase
'

price
-
-

sale arise purchase -

agreement
past KONTAKT stage
~
When both have the terms and condition of the Sale Purchase agreement
parties agreed on and

( restrictions solicitor
Description locality conditions investigated by
~
, , , encumbrances

~ Purchase price , deposit . mode of payment LODGING A PRIVATE CAVEAT

~
Issue document of title , copy of SPA
Purchaser 's solicitor duty to private caveat
lodge
-
a

~
Existing encumbrances -

A caveat -
to prevent any further transactions in property

from subject to restrictions

~ Free all encumbrances and not

COMPLETION CONTRACT
the 'cftkhtk0N
key Stay -

purchaser 's solicitor 's duty is to make another search before final payment is

made
The purchaser obtains the legal title of the property and at the same

time , acquires an indefeasible title under section 340 of NLC VALUATION

SNP and transfer
Before the transfer is submitted to the Registry
-

forwarded Valuation office for adjudication of the property for

On registration ,
his name is endorsed on the title as the registered proprietor . document to

Gains Tax
purposes of payment of stamp duty and capital

MEMORANDUM OF TRANSFER ( MOT)

The of the NLC must be strictly adhered to
procedural requirements
-
-
 ( IIHTEI , 5
22A -

Registration of Estate Agents

1) Every be entitled to Part of to the satisfaction that

person shall have his name entered under 111 the
Register upon making application Board and
proving to its

a) He has attained the age of 21

years and is of sound mind
, good character and has not been convicted of any offence involving fraud or dishonesty or moral turpitude during the five

immediately proceeding the date of his application

years
.

b) not an undercharged bankrupt

c) satisfied of
the requirements section 2213 .

d) made a declaration in the form and manner prescribed by the Board

e) Has paid the fees prescribed by the Board

f) He is not under
suspension from valuation or estate agency practise nor has his name been cancelled from the Register .

2213 -
Estate Agency Practice