Hi Folks,
In just three days time, Year 2007 will be leaving us behind - hopefully, with sweet memories - and a brand new year will be arriving with new hopes, God willing.
But one of the earliest dampener for the New Year could well be new price hikes for fuels (petrol, diesel and LPG): the lower middle and lower income groups will, in my view, be quite hard hit because any steep hikes in fuel prices is likely to bring about a multitude of price hikes across a broad range of consumer items - many of which were already on the rise by 30% this year....hmmmm
That may also explain why many were so easily persuaded to join the recent spates of street demo - something by the thousands not so possible previously whatever the persuasions...
Tighter control on inflationary pressure and more economic measures to increase per capita real incomes across the board will be the sure way, in my view, to neutralise any extremist groups trying to fish in troubled waters...Just my 2 sen's worth.
Anyway, the new year 2008 will certainly bring us new hopes as well as challenges.
Hope that it will not be very hard on marketing people like you and I who need to travel quite a bit to fish for our marketing incomes...
For the new year resolutions, perhaps we can consider the possibility of new sources of income such as via Internet business:
1) if interested to know more about the whats, the whys and the hows of Internet business, there are structured posts in this blog: http://MoneyMakingViaInternet.blogspot.com; and,
2) when you are ready to launch an Internet business, visit:
a) http://GT-ibiz.com/domainname/ to grab a good domain name real cheap;
b) http://GT-ibiz.com/webhosting/ to grab a good hosting package;
c) http://www.GT-ibiz.com for all the web tools you need for Internet business.
3) when you have made enough money, check out http://www.eOneBay.com/ for all the great gifts you may want to send for various occasions and special reasons!
The links to all the abovementioned blogs and web sites can be clicked on the left of this blog.
May God bless us all in this New Year.
Cheers,
Douglas GT Tan
Friday, December 28, 2007
Friday, December 14, 2007
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
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
Thursday, December 13, 2007
How to check whether you are dealing with lawful estate agents or their assistants (aka Negotiators)?
Hi Folks,
The Board of Valuers, Appraisers & Estate Agents Malaysia has now make it easy and possible for members of public to check through its official web site whether the person you are dealing with is a lawful real estate agent or a Negotiator employed by a registered estate agency firm.
How to check, you may ask?
Just go to the Board's official website and enter any of the following in the relevant search boxes at the site's homepage:
1) the firm's name or its E No. - to check if the firm is a registered estate agency;
2) the agent's name or the person's E No. - to check if he is indeed a registered estate agent;
3) the probationary estate agent's name or E No. - to check if he is indeed a probationary estate agent (meaning those who have passed the written exams and are now en-route to the final Test of Professional Competence);
4) the Negotiator's name - to check whether he is in the lists of Negotiators which all registered estate agency firms have to furnish to the Board on half yearly basis by end of June and December or within one month (or, is it within 7 days? Will check on Circular 2/2006) upon any changes - new recruitment, resignation, dismissal and the likes - in their employment register of Negotiators.
So members of public whenever you want to check whether you are dealing with the lawful party, just click: here!
Cheers,
Douglas GT Tan
The Board of Valuers, Appraisers & Estate Agents Malaysia has now make it easy and possible for members of public to check through its official web site whether the person you are dealing with is a lawful real estate agent or a Negotiator employed by a registered estate agency firm.
How to check, you may ask?
Just go to the Board's official website and enter any of the following in the relevant search boxes at the site's homepage:
1) the firm's name or its E No. - to check if the firm is a registered estate agency;
2) the agent's name or the person's E No. - to check if he is indeed a registered estate agent;
3) the probationary estate agent's name or E No. - to check if he is indeed a probationary estate agent (meaning those who have passed the written exams and are now en-route to the final Test of Professional Competence);
4) the Negotiator's name - to check whether he is in the lists of Negotiators which all registered estate agency firms have to furnish to the Board on half yearly basis by end of June and December or within one month (or, is it within 7 days? Will check on Circular 2/2006) upon any changes - new recruitment, resignation, dismissal and the likes - in their employment register of Negotiators.
So members of public whenever you want to check whether you are dealing with the lawful party, just click: here!
Cheers,
Douglas GT Tan
Tuesday, December 4, 2007
Further Protection of Public Interests by Malaysian Estate Agency Standards 1999
The Malaysian Estate Agency Standards (MEAS) which came into force on 1 Sept 1999 - to further regulate the practice of estate agency in Malaysia under power given to the Board of VAEA under sec 10(g) of the VAE Act 1981 - provides further protection of public interests through its various standards - one of which known as Standard 9 is about the employment of assistants (known as the "Negotiators") of the registered estate agents.
Not anyone can any how be engaged by the REAs as their Negotiators - this is clearly to ensure the public is served by Negotiators who can be held accountable for their actions and conducts and not by those on loose attachments or who "work" for unregistered persons on "loan" licences from sleeping REAs who can clearly "fly by night" when necessary.
Standards 9 requires Negotiators to work full-time and not part-time (Std 9.2.3), always under the direction and supervision of the REAs (who therefore are not allowed to be "sleeping")(Std 9.2.1) and not to operate independently (9.2.2) nor to sign any formal estate agency letter or document nor advertise on behalf of the REAs (Std 9.2.17)...
To ensure that Negotiators are full-timers, Std 9.2.12 and the Circular 1/2000 on it requires the Negotiators to be paid monthly salaries (with EPF contributions as stipulated in another Circular)...
To ensure that the Negotiators are not from the "licence-leasing" firms who are traditionally paid high commission (70% or more) with no salary, Std 9.2.12 imposes a 40% ceiling on commission payable to a Negotiator from any deal assisted/handled by him/her...
You see, if a Negotiator gets 70% or more, chances are the REA would not want to spend time and effort (not to mention money too) supervising and training them for the remaining 20% to 30% of the commission in return.
Negotiators on high % commission are mostly on loose attachment or working for licence-leasing firms where the REA concerned would not sign any formal document using his/her official name, official designation and signature for the reasons already given in the preceding post - to disclaim responsibility if there is a civil suit or investigations for offences.
To ensure effective supervision, direction and training, Std 9 further imposes the max number of Negotiators who may worked under a REA to 20 at any one time (Std 9.2.14).
Signs of Negotiators who work on "loose attachment" to or for "licence-leasing" firms are these:
# they are not paid the compulsory monthly salary and the EPF contributions thereon;
# they are on high % commission payout;
# their firms have more than 20 Negotiators per REA;
# their formal documents are not signed under the official name, official designation or signature of any REA in the firm;
# the address on the letterhead of their document may not be the registered address of the REA firm as at that time - of course, when there are fees to be claimed, they will then register or change to the correct business address.
Deal only with bona fide REAs, REA firms and Negotiators - say NO to any practice by "Loose Attachment" or "Licence Leasing"!
Cheers,
Douglas, GT TANHALIM
P/s: Compliance with the Standards 1999 by the REAs is required under Rule 110 of the VAE Rule 1986.
Not anyone can any how be engaged by the REAs as their Negotiators - this is clearly to ensure the public is served by Negotiators who can be held accountable for their actions and conducts and not by those on loose attachments or who "work" for unregistered persons on "loan" licences from sleeping REAs who can clearly "fly by night" when necessary.
Standards 9 requires Negotiators to work full-time and not part-time (Std 9.2.3), always under the direction and supervision of the REAs (who therefore are not allowed to be "sleeping")(Std 9.2.1) and not to operate independently (9.2.2) nor to sign any formal estate agency letter or document nor advertise on behalf of the REAs (Std 9.2.17)...
To ensure that Negotiators are full-timers, Std 9.2.12 and the Circular 1/2000 on it requires the Negotiators to be paid monthly salaries (with EPF contributions as stipulated in another Circular)...
To ensure that the Negotiators are not from the "licence-leasing" firms who are traditionally paid high commission (70% or more) with no salary, Std 9.2.12 imposes a 40% ceiling on commission payable to a Negotiator from any deal assisted/handled by him/her...
You see, if a Negotiator gets 70% or more, chances are the REA would not want to spend time and effort (not to mention money too) supervising and training them for the remaining 20% to 30% of the commission in return.
Negotiators on high % commission are mostly on loose attachment or working for licence-leasing firms where the REA concerned would not sign any formal document using his/her official name, official designation and signature for the reasons already given in the preceding post - to disclaim responsibility if there is a civil suit or investigations for offences.
To ensure effective supervision, direction and training, Std 9 further imposes the max number of Negotiators who may worked under a REA to 20 at any one time (Std 9.2.14).
Signs of Negotiators who work on "loose attachment" to or for "licence-leasing" firms are these:
# they are not paid the compulsory monthly salary and the EPF contributions thereon;
# they are on high % commission payout;
# their firms have more than 20 Negotiators per REA;
# their formal documents are not signed under the official name, official designation or signature of any REA in the firm;
# the address on the letterhead of their document may not be the registered address of the REA firm as at that time - of course, when there are fees to be claimed, they will then register or change to the correct business address.
Deal only with bona fide REAs, REA firms and Negotiators - say NO to any practice by "Loose Attachment" or "Licence Leasing"!
Cheers,
Douglas, GT TANHALIM
P/s: Compliance with the Standards 1999 by the REAs is required under Rule 110 of the VAE Rule 1986.
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