1)
Who are real estate agents?
Real Estate Agents are professionals who act as intermediaries between sellers and buyers of
real estate/properties. The estate agent assists buyers to source for properties and markets
properties for owners and earn a professional fee for each successful transaction he completes
be it property sales or rental. A registered estate agent is also able to own and operate a real
estate agency and recruit negotiators to work under him.
In Malaysia, Real Estate Agents must be registered with the government. The first step to being
registered is to study for the Diploma course offered by Good Institute. Find out more by referring
to this link.
2)
How do I become a Real Estate Agent?
Firstly, you need to register for the Estate Agents Examinations set by the Malaysian government.
You must obtain a pass in all 12 subjects of the exam. Upon passing the estate agent's examination, you need to register as
a probationary estate agent and pass the Test of Professional Competence. You will receive your real estate license upon
completing these steps.
Good Institute currently provides the best preparation course for the real estate license with the
top student in the entire Malaysia for the last 10 years from us. Call us now at 03-5880 5052 / 017 222 5991 to find out more.
Please refer to this link for more information.
3)
Why do I need an Estate Agency License?
The law requires every Real Estate Agency to be run by Registered Estate Agents. Each estate
agent may recruit 50 negotiators to work under their supervision. The Estate Agency License
also increases confidence of clients. It is a recognition by the Board that the individual's
knowledge and skills have reached a professional level. License holders may setup their own
agencies and receive full compensation for their own transactions too. Individuals who wish to
practice without a license may join a real estate agency as a real estate negotiator. They
however will be required to pay a significant portion of their professional fees to the agency. They
are also not allowed to recruit personnel. Call us now at 03-5880 5052 / 017 222 5991 to find out more.
4)
How long does it take to complete this course?
The Diploma in Estate Agency takes 2 years to complete as there are 2 parts
to complete in which each part is completed in 1 year. Good Institute provides the preparation course
of the Diploma in Estate Agency in a simple and structured way. The top student in Malaysia for the past
10 years have been Good Institute students.
5)
Who awards this Diploma in Estate Agency?
The Diploma in Estate Agency which enables students to qualify for the real estate
license is awarded by the Malaysian government. The exam is also conducted by the same Malaysian government
body.
Good Institute provides a preparation course for students to excel in these Malaysian
government real estate exams by providing lectures, tutorials, past year question and answer where available and
study materials. The top student in the entire Malaysia for the past 10 years have been students at Good Institute.
6)
Why should I enrol with Good Institute?
Our Real Estate Diploma course is developed by lecturers and industry practitioners with an
average of 25 years experience. Students benefit from the practical advice and knowledge
shared by the industry experts.
Candidates are also assured of our high quality materials and lectures which are not able
to be found elsewhere. As a testament of our quality, the top student in the entire Malaysia for the past 10 years have
been Good Institute students.
Good Institute provides a flexible schedule for both part time and full time students, where
lectures are available at any time for students via online learning and there are also tutorials and revision classes which
are available both physically at our centre and online for students to ask lecturer questions and get study tips too.
Students are thus able to enjoy the high quality learning experience at their own convenience
making it very suitable for working professionals and anyone else who have busy lives.
Always invest in the best for yourself!
Call us now at 03-5880 5052 / 017 222 5991 to find out more.
7)
When is the deadline for your course intake?
Good Institute has intakes all year round with majority of students joining us in February, June,
August and December. It is recommended to sign up as early as possible so that you get the most preparation for the exam and get
your license in the shortest time possible.
8)
Can I study for this course Part Time?
Yes, you can study the real estate license course / Diploma in Estate agency course on a part-time
basis. Students can attend classes online. Our lectures and tutorials are available online and all the online material are
accessible anytime. Students can plan the time to access their lessons and learn at anytime based on their own schedule. Good
Institute also has tutorial sessions where students can ask questions to lecturers and get study tips from them which are available
both online and in person at our centre.
For added convenience to our students, Good Institute also has a suggested timetable which is provided
to students to ensure that your studies are on track and you are able to complete your studies on schedule and yet do not miss important
dates such as revision classes and tutorial sessions with lecturers.
Our course is available to students from across Malaysia and around the world who want to get the
Malaysian real estate license. Call us now at 03-5880 5052 / 017 222 5991 to find out more about how this works.
9)
When will I receive my Diploma Certificate?
Candidates receive their Diploma in Estate Agency certificate upon passing all the 12 subjects ie
after the completion of both Part 1 and Part 2. A convocation ceremony is held by the Malaysian government each year for this award
ceremony. The Top Scorer in Malaysia for the examination will be awarded with a special prize at the same convocation ceremony and
the Top Scorer for the past 10 years consecutively have been Good Institute students.
10)
What do you provide when I sign up for your Real Estate License Diploma course?
We provide you the best lectures, tutorials concise study materials inclusive of textbooks, past year
question and answer and past year exam analysis. Should you have any questions after lecture or want more study tips from the lecturer,
you may also attend tutorial sessions which are available both online and in person at our centre. You are also able to access more
learning material on our e-library online portal. Revision classes are also available before the exams to recap all the knowledge learned
and prepare well for the exams.
All this help ensures that you are fully prepared for the diploma exams set by the Malaysian government in
order for you to get your real estate license.
11)
What subjects are covered in this real estate course?
There are a total of 12 subjects to complete the course. They are split into Part 1 and Part 2.
The 6 subjects in Part 1 are Principles of Accounting, Introduction to Law, Principle of
Economics, Property Taxation, Principles and Practices of Marketing, and Building Technology 1.
The 6 subjects in Part 2 are Land Economics, Estate Agency Law (Professional Practice),
Principles of Valuation, Laws Relating to Property, Real Estate Agency Practice, and Building
Technology 2.
All these subjects are essential for every real estate practitioner to know and they are also
very practical knowledge that can be used daily by a real estate practitioner and will impress your clients. The subject
content are all prepared in-house by our experienced lecturers which have taught the Top Scorer in Malaysia for these exams
and are not available elsewhere. Besides that, our material are also constantly updated to cater for the constant changes
in the property laws in Malaysia as well as the real estate trends that are ever changing. Therefore, our students can rest
assure that they are well prepared for the examinations and also for keeping themselves up to date with the latest property
knowledge for their daily practice.
12)
What is this crash course or revision class that I hear my friends talking about?
The crash course or revision class is a special preparation program we provide to all of our
students which are held before the examination to provide full revision to students. Lecturers will provide helpful tips and
go through frequently asked questions. These classes are extremely valued by our past students and have helped them to do well
in their exams and even become the top scorer in Malaysia for the past 10 years.
13)
What are the entry requirements for the real estate license diploma examination?
The Malaysian government real estate board has stated that the minimum entry requirements are:
- Persons 17 years old and above
- Pass in Bahasa Malaysia at SPM level or equivalent
- 5 passes in SPM or equivalent qualification
- 3 credits with at least one of the credit subjects in Mathematics, Science, Accounts or Commerce.
- Candidates with other qualifications may also check with Good Institute so that we can assist to check with the Board on whether you can use that certificate as entry requirement.
14)
How do I pass the Estate Agent Examinations (Diploma in Estate Agency)?
The passing mark for each subject paper is 50%. Good Institute will prepare you well for
these real estate examinations. You will need to pass all six Part 1 subjects before proceeding to take Part 2 subjects.
One you have passed the six Part 2 subjects, you are deemed to have passed the Estate Agent examinations and will be
awarded a diploma in estate agency which will used to obtain a real estate license.
15)
When are the exams held?
Exams are held once a year generally during the month of August or September each year. The government shall set the exam dates each year and the exact date shall only be announced between one to two months before the examinations by the government.
16)
How are the exams conducted?
The exams are paper based and conducted physically in designated exam centres in Malaysia. There are exam centres located in Klang Valley, Penang, Johor Bahru, Sabah and Sarawak.
17)
What language are the exams conducted in?
The exam paper shall be in two (2) languages ie English and Malay. Students are allowed to answer the questions in either English or Malay. Good Institute’s classes and materials are all in English. Therefore, most of Good Institute students answer the exam questions in English.
18)
What is the passing mark for the exam?
The passing mark for the exam is 50% and students are not required to answer all questions in the exam. There are question choices for each paper and students may choose questions they are more confident in answering. Get study tips from Good Institute lecturers on how to choose questions to answer in the exam and how to answer exam questions in the best way for you to pass your exam and even to become the next top scorer in Malaysia for the real estate exams.
19)
Is it easy for students to pass all 6 subjects in 1 seating?
Yes and No.
It is easy for students to pass all 6 subjects in 1 seating if the student studies using the right method and the right materials. Good Institute has simplified the materials, prepared all the materials which are tried and tested to enable students to pass the exams easily, all delivered with effective lecturers. Many Good Institute students pass all 6 subjects in one seating and all the no 1 top student in Malaysia for the past 8 years are Good Institute students.
However, it is not easy for students to pass all 6 subjects in one seating if they do not attend classes or do not use a proper method and materials to study for the course. This may result in some people who may think that the course is not easy to pass.
Good Institute is the best place to help you to to pass easily and maybe be the next top scorer in Malaysia.
20)
When is the right time to start taking this course? Is now the right time?
The real estate license can help you to earn a steady monthly income, have more flexible time and even become a future real estate millionaire. The opportunity to open up your own real estate agency and be an estate agency boss is also an option for you. The first step to getting the real estate license is to first obtain your Diploma in Estate Agency (Part 1 + Part 2 qualification). Therefore, the sooner you complete your qualification the sooner you can be registered and get your real estate to generate more income for yourself.
Don’t forget that your 2 year probation period which requires you to get real experience in real estate can only commence after you get the Diploma in Estate Agency. Therefore, for those who are looking to start practicing as a real estate negotiator (REN) can consider starting this course early so that all your work experience can be taken into account and you may get your license earlier.
In addition to gaining the license at the end, after completing the course and even while studying the course, you can wow your clients with your extra knowledge on real estate and that extra advantage compared to the other RENs in the market will enable you to close more deals.
So, the sooner you start the better it is for you so that you can gain the benefits of the license sooner. No matter if you are a newbie to real estate or an experienced professional, the knowledge gained will help you in your real estate career for a lifetime. As an added bonus, having the coveted license will also bring you additional monetary benefits for you.
21)
Who is this course suitable for?
This course is suitable for everyone above the age of 17 years old who wants to be in the real estate industry and get the real estate license. The real estate license enables you to open up your own real estate agency or simply to enjoy a comfortable recurring monthly income. Those who are above the age of 17 years old are eligible to sit for the exams. However, you need to be above 21 years old to be a Registered Estate Agent ie license holder. Those who are 17 years old may take the exams first and be registered as a Registered Estate Agent when they are 21 years old.
Good Institute has students across all ages from 17 years old up to students who are in their 60s. As can be seen from our top scorers, they are all of different ages, gender, educational background and work experience. Be it young or old, anyone can pass the exams and even be a top scorer.
22)
What does it mean to be a Top Scorer for the Board exams? (Diploma in Estate Agency – Part 1 + Part 2)
The top scorer award is given to one person per year by the government of Malaysia (ie the Board) as a recognition for being the person who scores the highest marks in both the Part 1 and Part 2 exams. This award is awarded during the annual graduation ceremony held once a year. This special award is an honour for the student receiving it as it is a recognition of his / her achievement of being the best in that year’s cohort across Malaysia. A special certificate and plaque is normally awarded to this student by the Board. Good Institute also celebrates together with the top students who have all come from us in the past 10 years and these students will receive a prize from Good Institute for their achievement.
23)
How many RENs (Real Estate Negotiator) can a REA (Registered Estate Agent) hire?
One registered estate agent (REA) can employ up to 50 RENs (Real Estate Negotiator). Should an real estate agency have more than 50 RENs, there shall be more Registered Estate Agents (REA) working in the real estate agency. Therefore, large estate agencies generally have multiple Registered Estate Agents working there.
24)
What will I be learning or what knowledge will I gain in taking these classes?
You will be learning all these and more in Good Institute classes:
- Real estate investment evaluation and selection
- How to sell property and how to rent property
- Real estate tips from real estate industry experts including real estate agents, property lawyers and valuers
- How to open and run an estate agency
- How to do marketing for real estate and how to keep your customers coming back to you
- Construction and maintenance of buildings
- How property and land taxes work in Malaysia and how you can save money on taxes
- What strata property owners should know about the Strata Titles Act
- How valuers value properties
- How does the property market and its various price mechanisms work
- The economics of development and redevelopment of property
- Factors affecting rental prices and capital values of property
- Practical case studies about issues relating to real estate
All this practical knowledge are very helpful for applying in your real estate career, real estate investment decision in addition to being useful for you to pass your examinations to get your real estate license.
25)
What can I do with the Diploma in Estate Agency (Part 1 + Part 2) awarded by the Malaysian government (Board)?
The Diploma in Estate Agency which is awarded by the Board upon successful completion of the Part 2 exams is a pre-requisite for the person to be registered as a Probationary Estate Agent (PEA) and a Task of Professional Competence (TPC) candidate.
Besides that, upon completion of the course and even while learning you’ll gain so much knowledge that will help you in your real estate career and even property investment journey.
Lastly, the knowledge gained is also helpful for you to complete the test of professional competence and Board interview which will enable you to be a real estate license holder in future.
26)
What is a Probationary Estate Agent (PEA), probation period and Test of Professional Competence (TPC)?
In order to become a Registered Estate Agent (REA) ie Real Estate License Holder, the person needs to complete a 2 year probation period and complete the Test of Professional Competence (TPC). The test of professional competence contains the 2 year work diary which logs down the real estate work experience of the probationary estate agent during the 2 years. Besides that, there are also 2 tasks, a record of experience and also the Board interview to complete before being registered as a Registered Estate Agent (REA) ie obtaining your real estate license.
The 2 years work experience is relatively easier as compared to completing the Diploma in Estate Agency (Part 1 + Part 2 exams) as most of the content required for you to complete your TPC (test of professional competence) is covered during your Part 2 lessons. However, Good Institute also has a short online course for the TPC which you can sign up for which will give you a head start in preparing for it.
27)
How do I obtain my real estate license to become a registered estate agent in Malaysia?
Upon passing the Board interview, the TPC (test of professional competence) candidate shall be deemed to have passed the test of professional competence and is eligible to be registered as a Registered Estate Agent (REA) ie real estate license holder. The person can then submit the registration form together with the necessary documentation and fee payment and become a Registered Estate Agent ie real estate license holder.
The Registered Estate Agent ie real estate license holder can then enjoy all the benefits such as being able to open your own agency, recruit negotiators (REN) to work and earn money for the agency or alternatively enjoy a monthly stable income as a Registered Estate Agent license holder.
28)
What do real estate negotiators (REN) and registered estate agents (REA) do?
Both Real Estate Negotiator (REN) and Registered Estate Agent (REA) are professionals that provide real estate agency services to clients to list and market properties for sale or to let.
29)
What is the difference between a REN and a REA?
Some people are confused between the terms REN and REA and may even think that they are the same. The terms REN, REA or even negotiator, property agent and estate agent are also often use interchangeably making it more confusing.
However, there is a difference between the terms REN and REA. Although both are involved in the real estate industry and may have some overlapping roles, they are actually different roles between the two.
REA stands for registered estate agent and REN on the other hand stands for real estate negotiator. Both are registered under the Board and both can assist clients to transact real estate deals. Here are a few key differences between the REA and the REN.
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All negotiators need to work under a registered estate agent
Only registered estate agents can set up an estate agency and recruit negotiators to work under them. Negotiators on the other hand must work for a registered estate agency and under the supervision of a registered estate agent ie a license holder. Upon closing a real estate / property transaction, negotiators only get a portion of the commission paid whereas the rest will go to the registered estate agent and company. The registered estate agent can choose to close their own property transactions and can get up to 100% of the total commission.
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Quick start vs Specialized Knowledge
Negotiators (REN) can enter the lucrative business of real estate with just the minimum of 2 days training whereas Estate agents (REA) are required to undergo a more specialized training ie the diploma course. This diploma covers 12 subjects ranging from estate agency laws and practice, property law, valuation, building technology and more trains the estate agent in all key areas of real estate. The specialized knowledge and experience gained is invaluable and is a great asset to a real estate agent in his dealings with his clients.
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Starting Your Own Business
One of the key differences between agents and negotiators is the fact that agents can start their own business. Negotiators (REN) will always be working under an agent/agency, whereas agents (REA) can set up their own estate agency which gives the estate agent the ability to earn much more than the RENs. Estate agency owners also have much more flexibility to set his own schedule and do not need to be bound by any targets set by the estate agency.
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Earning Passive Income
Another advantage that comes with being an registered estate agent is that REAs can gain a passive income from each successful transaction completed by negotiators working under them. This way, agents (REA) can focus on building up the business.
The real estate license is invaluable giving the registered estate agent (REA) access to earning a more stable and lucrative real estate business which can leverage on the strength and ability of others versus an unstable real estate business which depend solely self-work like the real estate negotiator who also needs to always be working full time under the supervision of a REA.
30)
What are the reasons to be a Registered Estate Agent?
There are many reasons to be a registered estate agent. Some of the reasons include:
No university/college degree required
It is not necessary to earn a costly degree in order to become a real estate agent. Real estate education is cost effective and can be studied part time from the convenience of your own home.
Be your own boss
Real estate agents have flexible hours and they have the freedom to decide for themselves how to manage their time and priorities. You can work from home, set your own goals, and reap the rewards of your successes. With this level of autonomy, you have greater flexibility and a better work-life balance.
You decide your own income
You are not restricted to how much you earn per hour. You can earn as much as you want depending on your dedication and hard work. Since it's your own trade, your main limitations are how well you begin and grow your business.
You're an expert
As you learn from the subjects taught in our course, you will develop both general and specific know-how of real estate and will become knowledgeable. Clients will turn to you for market advice and you will be able to steer them in the right direction. Real estate agents take great pride in their expertise and ability to impart the knowledge.
You get to meet new people
Networking is a key factor in being successful and making more money. A profession in real estate allows you to be sociable, make new connections, and learn about individuals from various walks of life.
You never stop learning
The exciting element is the potential to continue learning and growing as your career progresses. The real estate industry is constantly changing. You can adapt to the industry, adopt new technology, and acquire new skills to succeed and stand out from the crowd.
Start Your own business
As a real estate agent you get to set up your own estate agency which enables you to earn much more than a mere negotiator and also the ability to be much more flexible and not be bound by targets set by the estate agency which negotiators are normally bound by.
Earn Passive Income
Another advantage that comes with being an registered estate agent is that REAs can gain a passive income from each successful transaction completed by negotiators working under them. This way, agents (REA) can focus on building up the business. The real estate license is invaluable giving the registered estate agent (REA) access to earning a more stable and lucrative real estate business which can leverage on the strength and ability of others versus an unstable real estate business which depend solely self-work like the real estate negotiator who also needs to always be working full time under the supervision of a REA.
With the numerous advantages to being a registered estate agent, it is definitely a no brainer why you should get your own real estate license by first signing up with Good Institute today!