Property agents and property managers have been helping many lands the right deals according to their requirements. Whether someone is looking to buy, sell or rent a property, these real estate agents are always willing to extend a helping hand.
Getting registered with the board after sitting down for multiple exams is a dream come true for many estate agents. But to become a top real estate agent, especially in the city of Kuala Lumpur, one must possess an ample amount of experience. Understanding what services you are willing to provide is also necessary so you know which agencies to go for.
| What Is Real Estate Agency?
How Can I Become A Real Estate Agent In Malaysia? Is Real Estate Agent A Good Job In Malaysia? How Do Property Agents Earn In Malaysia? What Is A Real Estate Agency? Conclusion |
Real estate agents are famous for earning a hefty sum but there are various pros and cons attached to it. Most of them are not promised a basic promised salary each month but instead rely on a commission-based income. Having a strong sales history and being able to convince others is the key to earning a fair amount of income.
What Is Real Estate Agency?
Most of the property agents usually work in big corporations which function as Real Estate Agencies. These firms have clients who require services and assistance in terms of real estate matters. Whether it’s managing a property, selling it, buying it, or renting it, real estate agencies are trained to take responsibility for these tasks.
Real estate agents who are licensed by the institute of estate agents are legally allowed to work for these real estate agencies. Furthermore, a corporate real estate agency’s services also include representing and negotiating on your behalf. Some offer consultation as well and that includes bringing up fruitful deals to the clients.
How Can I Become A Real Estate Agent in Malaysia?
There’s a protocol one needs to follow if one aspires to become a real estate agent in Malaysia. The process can be slightly challenging at first but it’s worth the effort. The first step is to decide what kind of real estate agent you would like to be. Knowing your specialty is important.
Going through the requirement of becoming a real estate agent is necessary as well so you can plan your future accordingly. Along with being a Malaysian and having credits in SPM, one needs to be recognized by Jabatan Perkhidmatan Awam and The Board of Valuers, Appraisers, Estate Agents & Property Managers.
In order to get recognized, the candidates need to sit for examinations which are conducted in two parts. These consist of 6 courses that need to be passed so you can proceed to the next steps. Gaining the right amount of experience and sitting for an interview is equally as important.
Once you’ve gone through these procedures successfully and the board of valuers approves your evaluation, there is nothing else that should hold you back. Whether you’re looking forward to working independently or joining another estate agency, most opportunities are now open.
Is Real Estate Agent A Good Job in Malaysia?
Malaysia’s real estate industry has been booming for the longest time. During the covid-19 pandemic, it faced a severe setback but is also one of the fastest recovering industries right now. Due to the right demand for properties and the growing population around the country, estate agents and real estate agencies are always making money.
From the perspective of generating revenue, being a real estate agent is a good job in Malaysia. But there are some basic requirements before you can be a recognized estate agent. Estate agents and property managers need to be accepted by the institute of estate agents and the board of valuers.
If you’re passionate enough to sit for the exams, pass the application and become a licensed estate agent, it can prove to be a good job for you in Malaysia. Top firms in Kuala Lumpur and different cities are always on the hunt for talented estate agents.
How Do Property Agents Earn in Malaysia?
There are various ways through which one can earn as a property agent in Malaysia. This solely depends on the kind of job you’re interested in and what have proven to be your major strengths. If you’re looking to work independently as a real estate agent, here are a few ways to make that happen.
These agents don’t necessarily work for an agency but are a part of the institute of estate agents and property managers in Malaysia. In order to understand this better, one must know the different types of independent real estate agents which are present in Malaysia serving the industry in their own way.
Exclusive Agents
These types of agents tend to work on a contractual basis and are the only ones committed to selling or subletting your property. Signing them is a major agreement since whether they are responsible for selling or subletting your property, they still get to receive the commission.
These agents are quite remarkable at what they do and they tend to prioritize your needs. Making money as an exclusive agent in Malaysia can be quite rewarding since property prices are fairly high which leads to a higher commission. However, not many tend to hire an exclusive agent.
Sole Agents
Many in Malaysia prefer hiring Sole Agents since they will only receive the payment if their real estate services brought an interested party. Top real estate agents especially in Kuala Lumpur make a good amount of money through this practice.
Hiring a Sole Agent gives one flexibility while receiving the services of a professional. Most Sole Agents seem to be satisfied with their earnings since their commission on a transaction is about 3% as stated by the Malaysian Institute of Estate Agents.
Another method of earning money and making the right amount of commission is by working for a real estate agency. Top agencies like IQI Global Real Estate, Hartamas Real Estate, and others are always looking for talented agents to join the team. Here are a few top estate agencies around the Klang Valley through which agents can earn a handsome amount in Kuala Lumpur, Malaysia:
- IQI Global Real Estate As an agency that has spread its wings across the borders, IQI Global has a reputation for encouraging its team of estate agents and property managers. They have become a wonderful source of income for their talented and professional estate agents. They are currently based in Petaling Jaya and are an award-winning real estate firm of the year. Their team has almost 2,100 dedicated estate agents who are investment and property experts. As a rapidly expanding agency, they are truly giving agents the chance to earn more money in Malaysia and around the world.
- Hartamas Real Estate Hartamas Group has been in the real estate industry for more than two decades now. They’ve managed to establish themselves as a corporate real estate agency and offer a wide range of services including consultation, buying, selling, and renting various properties around Kuala Lumpur and other major places in the Klang Valley. In 2020 and various other years, they have been the real estate firm of the year. They value their talented team of real estate agents and compensate them well through commission and other benefits given they are a part of the Board of Valuers, Appraisers, Estate Agents, and Property Managers.
Conclusion
As a property agent in Malaysia, one has many opportunities at hand to make a fair amount of money. The ones who are enthusiastic and passionate enough even end up finding unique ways to make a strong passive income. If you’re looking to enter the industry, your ability to research and communicate can take you a long way indeed.
IQI is a leading real estate agency, with over 30,000 property professionals in 20 countries around the globe. Join us to become a changemaker in the real estate industry!
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