1. Why do valuers have different in terms in value when it comes to my property?
Valuation is a highly technical field with three main approaches governed by the Malaysia Valuation Standards. Due to distinct approaches and techniques, resulting valuations can, in rare cases, differ. All registered valuers are fully qualified and have successfully passed the Test of Professional Competence—an exceedingly challenging examination and assessment in Malaysia. In the majority of cases, discrepancies are limited to less than 10% within the industry.

2. Is valuation “Art” and Science that is subjective? How can I be assured of the value provided by valuation firms?

Valuers are property experts trained in the realm of valuation and real estate, encompassing over 30-40 acts of parliament. These acts span diverse areas such as property development, RPGT, assessments, Stamp Duties, compulsory acquisitions, corporate valuations, agency (sale, tenancy & leasing), market feasibility studies, investments, research, and consultancy, as well as property management and consultancy.

All registered valuers undergo rigorous training and assessment to obtain licensing in the field of valuation. They must not only comprehend and apply the pertinent acts, laws, and regulations, but also possess the technical skills in valuation, capitalization, and statistics required to appraise income streams, assess market evidence, and determine property value. Market values must be grounded in accurate evidence rather than arbitrary conjecture. Hence, property valuation is objective and adheres to the Standards established by the Board of Valuers.

All registered valuers are trained and proficient in participating in court proceedings, even though some specialize in this area. At Malaysia Valuers, our specialization lies in corporate and litigation valuations.

3. Can I buy and sell properties on behalf of someone without a license?

No. Recent legislative amendments to Act 242 (Part VIII, Section 30) states that any person who acts as an estate agent whether the primary or principal object of his business is estate agency or impersonates a registered estate agent is regarded as committing an offence and is liable on conviction to a fine not exceeding RM300,000 or to imprisonment for a term not exceeding 3 years or both and shall be liable to a further penalty of RM1,000 for each day during the continuance of such offence.

4. What happens if the person I am dealing with doesn’t have a license or registered with BOVEA?

Then he is an illegal broker. He is not authorised and as such stop dealing with him. Report him to the police immediately with full information. You can choose NOT TO PAY the illegal broker anything and the illegal broker will not be able to recover any fee in Court. When in doubt, contact the principal of the firm immediately and do not simply pay your deposit to any party who is not registered with the Board of Valuers, Appraisers & Estate Agents Malaysia. For more information, visit the Malaysian Institute of Estate Agents website here.