On 17 July, 2024, BOVAEP came out again with the removal of RV, REA, RPM, Firms and Probationers for year 2024. The previous exercise to clean the register was done in 2021 May, see here, and 2022 Aug, see here.
This round the total RV, REA and RPM removed are as below:
RV = 23, REA = 58, RPM = 137; see below the lists with their names and registration numbers cut-out.
The List of RV removed are as below - this number is few = 0.8% (active valuers 18 Jul, 2024 = 2,955) as most of them are senior in age and could have passed away, their registration number are V0XXX, only 2 having V1XXX numbers.
The list of REA removed are below - this number is 1.4% (active REA as of 18 Jul, 2024 = 4,262) as most of them are senior in age - 38/58 = 65% are E0XXX which were those who qualified without examination in the amendment to the Act 242 in 1984.
The list of RPM removed are below - this number is staggering 137! However, we do NOT have a total figure of PMs in search.lppeh.gov.my. Hence, we cannot tell what percentage is this on the total PMs (BOVAEP needs to repair the search function to include PMs).
Earlier on, there was another wave of removal of PMs - Aug, 2022 - 264 of them. See here.
How about the removal of PV and PEA?
There are 344 PEAs (13.5% of Total PEA 2,548 as of 18 July, 2024) and 162 PVs (10.3% of Total PV 1,572 as of 18 July, 2024) removed from the register. See below their registration numbers - PEA3XXX and PV2XXX are in high numbers.
PEA are in high numbers: 170 of them are having number below PEA3XXX - which means the remaining 174 of total 344 removed - are having number running beyond PEA3XXX (the recent graduates). This is 50% of the total removed!
The interpretation of this is that more and more recent PEAs are not interested in the job/training and probably have left the industry.
WHAT could it be the REASONS?
The possible reason is the high number of PEAs (86% of whole Malaysia PEAs) are in Klang Valley because of the accessibility of colleges offering this course. Many of them who paid the money for this courses graduated with ease might NOT be in the job of estate agency practice. They might have better opportunity elsewhere instead of competing with the RENs in the same category. Notwithstanding, there might have given up the long queue for Test of Professional Competency and the difficulty to kais pagi makan pagi, kais petang makan petang in the job as a Probationer (which is similar to a REN).
Outstation PEAs we do NOT have a figure to study the pattern unless we dissect the individual PEA by search of the states he belongs to. Will update when that could be analyzed in more detail.
PV are smaller in numbers:
How about FIRMS?
See the notification 15/2024 on Removal of Firms.
Below are the firms being removed in this notification 2024.
Some of these firms are branches of mega firms. They were probably left with no registrants and a few were probably result of mergers and acquisitions of other firms - which made them redundant, thus being removed from the register.
Hope that the above analysis would help readers to understand the landscape of RV, REA, RPM, PV and PEA in Malaysia for 2024.
Admin
18 Jul, 2024