20181023 Is consulting for developer legitimate? Part 1

20181023 (Tue)

Is consulting (project sales) for developer legitimate? Part 1.

Recently, as developers in West Malaysia are unable to clear their excess stock, they appoint third party sales consultants to do selling throughout Malaysia. Many came over to East Malaysia, and you can see roadshows everywhere.

In the old days, “Real Estate Agency Consultant” is not a specific “Title” that is restricted in its use. Now, with the amendment to VAEP Act, 1981 (Amendment 2017) this is included in S.22C(1)(a):

Practise or carry on business or take up employment under any name, style or title containing the words “Estate Agent”, “House Agent”, “Property Agent”, “Land Agent”, “House Broker”, “Real Estate Agency Consultant” or the equivalent thereto, in any language or bearing any other word whatsoever in any language which may reasonably be construed to imply that he is a registered estate agent or that he is engaged in estate agency practice or business;

So, you will see that most of the independent marketing agents of the developer will have to carry title like “Sales Representative” or “Sales & Marketing Executive”. You will not likely see “Real Estate Consultant” or “Property Consultant”.

This is to avoid being questioned by the intention of performing “estate agency practice”, in a matter of representing a developer (but not employed by developer) to hold out to public for a commission or fee in selling, buying, letting or leasing a real estate property, without a proper license under VAEP Act, 1981.

Tomorrow we continue discussion on this case.

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