What Professional Fees Can Estate Agents, Property Managers & Valuers Charge Under the Law in Malaysia?

Hi Folks,

Under the normal law of commerce and contract, there is wide if not absolute freedom to contract for both parties to a transaction - that is, to negotiate and agree on all matters and issues pertaining to that transaction including the price.

However, once a business practice becomes a professional practice by law, there will be legal stipulations governing the conduct of what is now a professional practice including the amount of professional fees that may be charged as a matter of public interest.

On professional fees that may be charged, there are usually: a maximum ceiling and a minimum ceiling. Charging professional fees above the prescribed maximum ceiling amounts to the offence of over-charging; whereas, charging below the minimum amount amount to an unethical conduct of under-cutting fellow professionals.

Go to the official web site of the Board of Valuers, Appraisers & Estate Agents Malaysia (just click on the link given) if you want to know what professional fees are chargeable by registered estate agents, property managers and estate agents!

Don't be overcharged! Neither should you under-pay a Registered Estate Agents!

Cheers,

Douglas GT Tan