New Beginnings for MIEA
Mary Yu Yen Tshin discussed with us her goals and ideas for her term as the new branch chairman for Malaysian Institute of Estate Agents, Sabah.
On a warm, sunny Monday morning I sat down with Malaysian Institute of Estate Agents (MIEA) new Sabah Branch Chairman, Mary Yu Yen Tshin over coffee at local Ampersand Specialty Coffee & Co-Workplace, to explore her ideas for the future of MIEA Sabah.
Yu is a real estate veteran after being in the business for 30 years. She has watched MIEA grow for the past 18 years.
Realty has also become a family affair as both Yu's husband and daughter are in the business.
From agent to Treasurer and now, as of July 2019, the proud new chairman, taking Victor Wong Tay Kow's place (MIEA Sabah's immediate past chairman who also joined us briefly for coffee).
What does the new committee hope to improve for the real estate industry?
Integrity. Yu looks to continue promoting and emphasizing good morals of practitioners in MIEA and keeping them updated with the latest industry regulations. This is how you know MIEA agents are trustworthy and qualified professionals.
What new ideas will the new committee introduce during the new term (2019-2021)?
Plans are in the works for more casual networking forums for local practitioners to share wisdom, connect and learn from one another, says Yu.
The new committee is also working to organise seminars in collaboration with property-related professionals.
How does MIEA stay relevant to it's members? What values do agents get for joining MIEA?
MIEA strives to enrich their agents and negotiators with knowledge by conducting regular workshops.
With ever-changing trends, rules and regulations, MIEA is currently running classes every 2 months to ensure everyone is equipped with up to date market information.
MIEA also encourages their members to act professionally, prudently, ethically and with good discipline and integrity.
If MIEA had three wishes,
what would they wish for?
Yu said the three wishes would be...
- To have agents that choose characters over profit
- To see more young real estate professionals
- To see consistency and low turnover rate of negotiators in the market
How does MIEA deal with illegal
brokers and agents?
Although this issues it is not as prevalent as it was in the past, these illegal activities are still not hard to come by in Sabah, Malaysia and it is challenging to control.
To combat this issue, MIEA works hard to educate the public on the benefits of working with registered negotiators.
Their role in curbing this matter is also to raise awareness and encourage local brokers to get themselves registered.
Will the agency profession ever be replaced by technology?
In the marketing aspect, many positive impacts have been made with the help of advanced technology.
However as the real estate agency profession requires high levels of integrity and negotiation skills, Yu believes the public will continue to sought out personal customer service.
She says that unlike banking services, real estate agents provide professional consultation service throughout the process of selling property.
Therefore Yu believes it is hardly likely to see technology totally replace the profession. Instead she thinks she should learn from the younger generation how to make use of technology in the estate profession.
How has the market performed since the beginning of 2019? Is the market sentiment generally positive or negative?
In general, Yu says the Malaysian Property Market is still under a recovery stage. The continuation of the "wait-and-see" sentiment and buyers difficulty in securing housing loans contributes to the slow market.
The rise of Real Property Gains Tax (RPGT) affects the secondary property market sentiment as well.
In her humble opinion, the market is simply undergoing a phase where buyers and sellers are gaining confidence levels to anticipate the property market during the recovery stage.
Office Bearer Nominations
Branch Chairman: Mary Yu Yen Tshin (OM0723)
Chairman Elect: Lai Len Fang @ Rose Lai (OM599)
Secretary: Belinda Chong Yie Thing (OM1148)
Treasurer: Goh Mee Chin @ Sharon Goh (OM1070)
Committee: Tai Shun Hien, Henry (OM297)
Committee: Wong Fui Nang, Terry (PEAM00085)
Committee: Wong Tze Hui, Stephennie (OM1158)
Committee: Lor Miaw Ting, Jessie (OM1195)
Special thanks to Ampersand Specialty Coffee & Co-Workplace for the location, Aznan Johary for the photography and Mary Yu Yen Tshin and Victor Wong Tay Kow for attending the interview.