The involvement of private valuers in property management, the Malaysian experience

• Published in: Proceedings of the 2nd International Postgraduate Conference on Infrastructure and Environment, IPCIE 2010
• Main Author: Arif M.Z.; Ghani R.; Mohd T.
• Format: Conference paper
• Language: English
• Published: 2010
• Online Access: https://www.scopus.com/inward/record.uri?eid=2-s2.0-84886714119&partnerID=40&md5=e497a8a50a81b0635f3d11d5883000f9

The developments of landed properties in Malaysia have increased the demand for Property Managers. Thus with the introduction of newer and modem building technology, has changed the roles and functions of property managers. Practicing property management in difference countries are subjected to the local rules and regulations. These are to ensure only proficient property managers are allow to practice property management. In Malaysia property managers are required to register with The Malaysia Board of Valuer and Estate Agent. However protest frequently emerges in the mass media, focusing on safety and poor performance of the property management services. Since 2003 there are tussle between the licensed and unlicensed property manager in managing the local properties, both claims they are the better property manager. This created tension in the profession. This paper will uncover how far the involvement of the licensed property manager in property market. A survey on 244 Malaysia property consultant companies was conducted to find out the involvement of private valuer managing property in Malaysia. The construct are developed from the literature review and also through structured interview with a group of valuer practising property management. Prior to distributing, the questionnaires are referred to subject matter expert (SME) to validate the construct. The SME consist of a member of each association/bodies such as, the Institution of Surveyor Malaysia (ISM), Valuation and Property Services Department, Ministry of Finance Malaysia (JPPEH) and the Association of valuers, property managers, estate agents and property consultant in private practice Malaysia (PEPS). The respondents are required to give feedback on the critical factors needed by them in order to be successful in property management on Spoint liker scale. Other than that the writer tries to uncover the current problem face by the licence property managers. The analysis showed that only 43% of the private valuer practice property management and the main problem which distract them from practising are due to fussy behaviour the owner/tenant/occupier. The two main factors needed for property manager to excel in the profession are knowledge in property management, openness and willingness to discuss at all level. The findings will be rank by mean score for easier identification. We hope these findings will assist the Malaysia property managers to be more prepared with the essential knowledge, skills and abilities in property management.