KUALA LUMPUR (Oct 14): The Malaysian Institute of Estate Agents (MIEA) has awarded EdgeProp.my editor-in-chief and managing director Au Foong Yee and Impetus Alliance Advisors Sdn Bhd managing director and chief executive director Datuk Seri Michael Yam the MIEA Honorary Member Award during the MIEA National Real Estate Awards (NREA) gala dinner on Saturday night, 14 October.
Previously, only 11 recipients had been given the award in the institute's 41-year history. MIEA's honorary membership awards had first rolled out in the 1980s.
Au said EdgeProp.my shares the vision of the institute and is committed to working hand-in-hand with MIEA to improve the technical know-how and professionalism of its members.
"I believe that raising the bar on the effectiveness of MIEA members is crucial to ensure that they stay relevant and ahead of the game.
"We are witnessing a rapidly changing landscape which demands the embrace of new and creative ways to reach out to both clients and prospective clients.
"Towards this end, the EdgeProp.my team looks forward to working even closer with MIEA and its members in the days ahead" she said.
Meanwhile, Yam, who is also the immediate past president of the Real Estate and Housing Developers' Association Malaysia, said he was honoured and delighted to be accorded this recognition by MIEA, noting that the multiplier effect of the institute's role cannot be underestimated.
"MIEA members not only enable the disposal of new builds but also create a healthy and vibrant secondary market for resale and rental. They help facilitate secondary transactions and match the expectation and pricing between the sellers and buyers.
"Without the active intermediary service provided by MIEA, the sale of new builds would have been more volatile if there is no secondary market activity. Secondary market transaction now accounts for almost two-thirds of the total annual residential transaction value of about RM140 billion.
"Hence, as a developer, it is indeed an honour to be recognised and acknowledged by such an esteemed and significant institution in the property industry" he said.