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Report estate agents who cheat, public told | PETALING JAYA: The Malaysian Institute of Estate Agents wants the public to report on members who collect commissions from both the buyer and seller or those who do not return deposits.
Its president, Stephen Tew, said that the institute had been getting a lot of complaints on such malpractices by estate agents.
He added that very often, bogus agents cheated their clients by collecting commissions from both parties.
''They cannot do this and they must introduce the owners if the buyers want to meet them. Inform us of those who take money in advance and refuse to return it.
''If those who cheat or short-change are our members, (this means) they have contravened the code of ethics and we will suspend or expel them.
''If they are not registered agents, we can help lodge reports with the Board of Valuers, Appraisers and Estate Agents or the police and bring them to book,'' he said to a query by a participant at a talk on A Career in Real Estate at the Menara Star here on Saturday.
Tew said there were many agents sub-leasing their authority to practice to unlicensed negotiators and brokers.
''Do not pawn your licence to bogus agents who camouflage their illegal activities. We are working closely with the police and the board in pulling up these people.
''In view of the slowdown in transactions, I urge the smaller agents to merge with others and avoid dishonest practices,'' he added.
Source : The Star 30/12/2002 |
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