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Malaysia - Property Search
Real Estate Agents
To operate as a business selling services or goods within Malaysia, service providers have to have certain licenses which are renewed annually. Without a license to sell, agents could find themselves in a whole heap of trouble.
Estate agents have to have a license to sell property and you should ensure they have exactly this. This is a professional service and ranks up there with accountants and lawyers. They also need a Sales and Marketing license as they are providing a service to sellers as well as buyers and as they are handling financial transactions they have to be licensed to undertake such transactions. To become an estate agent in Malaysia there is a series of eleven exams to take and all eleven have to be passed to qualify as an estate agent. As an estate agent, people who work for an estate agency do not need an individual license if employed by a licensed agency.
It is common to use a buyer’s agent in Malaysia and combine this with an international lawyer to handle the conveyance. Agents can recommend a handling lawyer if you request them to do so. With a licensed agent, you are being sold a service and you will receive guidance and advice on the whole process.
Other Places Who Advertise Property for Sale
House selling and buying within Malaysia is liberal and free and there are many advertising venues where houses are listed as available to purchase. Newspapers, monthly property magazines and online sites are all popular places to look for property to buy.
If you’re looking to purchase from outside of Malaysia, you will find details available on the internet of companies who specialize in the advertising of property in the country. These are simple to find and using search terms as “Property for sale in Malaysia” will throw up the most popular choices of overseas property specialists. Companies who you will recognize and of a national version will likely have an international property arm.
Malaysian newspapers are online and they are mostly available in English. The country’s national newspaper is The Star - www.thestar.com.my and here is a good source to look for property to buy in Malaysia. There is an excellent ‘classified’ section in which you can search for property.
Organizations for Foreign Property Buyers
There are many organizations for foreign property buyers and the list is non-exhaustive. It is common that many people join expats forums where you’ll find a minefield of advice from those expats who are living in the country. They are usually the people who have the ‘underground’ advice and they’ll be delighted to impart their knowledge of their own experiences. They’ll tell you the common pitfalls and help you through the process.
It’s advisable to use a Malaysia specific forum so that you can have a poke around and truly find out what is going on. This forum is free to join and the website explains in detail, life in Malaysia.
This website is designed for women and compromises of mainly women. This is another plethora of information that is put together by women expats but there is a whole amount that relates to families. Here you will gain the best ways to search for property and again, they’ll likely have been at the fact-finding point you’re at now.
This link is the biggest company which advertises online for Malaysian property seekers. You can refine your search by area, price and size and you can register your interest from overseas or within Malaysia. The website is in English and all staff speak English and you can ask for pictures and engage directly with staff.
With Malaysia being a property haven for foreign investors, there is no shortage of information and guidance online. You can book an appointment prior to leaving for Malaysia and you can get organized to begin your property search before you step foot on the plane.