Kuala Lumpur, October 23: Over 700 members of the real estate fraternity gathered at the Majestic Hotel in Kuala Lumpur to celebrate the resilience and professionalism of 31 individuals and firms at the National Real Estate Awards. Organised by the Malaysian Institute of Estate Agents (MIEA), the annual awards recognize the highest standards of excellence and were presented by Deputy Finance Minister, YB Dato' Lee Chee Leong.

YB Dato' Lee Chee Leong said "Practitioners shall uphold the tenets of professionalism, code of conduct and safeguard the interest of the public. Their role is more than just selling and letting on behalf of their clients”. The real estate industry recorded total transacted values of RM34.52 billion in the first quarter of 2017 compared to RM31.98 billion for the first quarter of 2016.

"Real estate practitioners have played a significant role in this which has contributed towards the country's economy”, Leong added.

This year, the Real Estate Agent of the Year award recipient was Ms YY Lau of JLL Property Services (Malaysia) Sdn Bhd and the winner for the Real Estate Firm of the Year went to Hartamas Real Estate (M) Sdn Bhd. Meanwhile, the Lifetime Achievement Award was presented to Mr Raymond Tang King Seng from Uptown Realtors for his longstanding contributions to the industry. A new award was also introduced and given out this year - the MIEA Chief Executive Officer Award, which went to Reapfield Group founder and president Mr David Ong.

Property Hub (Sabah) Sdn Bhd brought home the Real Estate Firm of the Year (State) award. From a rookie negotiator to being the most hardworking negotiator in Sabah, Joel Low, from Property Hub (Sabah) Sdn Bhd saw himself winning the State REN of the Year and Rookie REN of the Year awards respectively.

The mantle of MIEA president was also officially passed from Mr Erick Y.T. Kho to Hartamas Real Estate Group's Managing Director Mr Eric Lim from 2017 to 2019. Moving forward under his leadership, Lim said he will continue to raise the standards and professionalism of the real estate industry through education and training in order to serve clients better and provide greater confidence in the marketplace.

"Real estate is a pillar of the national economy. Our consistent growth has allowed the real estate market to flourish albeit slower lately. Our government's liberal policies have also attracted the interest of regional and global investors to Malaysia which ultimately benefits our fellow practitioners.

"I appeal to all fellow members and practitioners to uphold the high standard and good ethics of our profession in order to gain the confidence and trust of the public and property investors" said Lim.

A long-standing issue, the recent amendments on the Valuers, Appraisers and Estate Agents Act 1981 (Act 242) has now included the provision for the police to take action against illegal brokers. The Board of Valuers, Appraisers and Estate Agents (BOVAEA), which comes under the ambit of the Ministry of Finance, is also working closely with other agencies such as MCMC and various local councils to eradicate illegal brokers in the country.

Guests included association Presidents and invited real estate association counterparts from Australia, Cambodia, Hong Kong, Myanmar, Singapore and Thailand.