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20190318 (Mon) Differences between MEAS 2014 & MEAS 2018, Standard 2.

20190318 (Mon)

Differences between MEAS 2014 & MEAS 2018, Standard 2.

Go here to read the actual Standard 2 MEAS 2018.

Standard 2 – RENs involved a major revamp. This is because Amended* 2017 VAEP Act, 1981 included for the first time the below subsection: 

S.22C (2) (d) a negotiator may assist the registered estate agent in estate agency practice. 

Additions:

2.1.2 The Term “Negotiator” is to include Real Estate Negotiators and Probationers (PEA).

2.1.5 Negotiator may be called in to CIC (Disciplinary Action).

2.1.6 The right to refuse/cancel/suspend registration of REN by Board.

2.2.1.3 Tenancy administration being added to one of the roles of Negotiator.

2.2.2.3.3 Foreigner (REN/PEA/REA) should have work permit before engagement (as amended VAEP Act, 1981 s.22D (5) removed)

2.2.3.8 with regards to Rule 97 – that agents should not mislead other agents’ client. 

Generally, the MEAS 2018 Standard 2 subdivided various roles and functions, dos and don’ts of Negotiator into 3 subsections for better presentation:  

a) Negotiator’s roles:

2.2.1 about 4 roles – assist, list, tenancy admin & conclude transactions 

b) Estate Agent’s roles in managing his RENs:

2.2.2 many duties and roles of REA with emphasis on maintaining register and organization of the RENs, Tags and procedures of REN moving from one agency to another. 

c) Dos and Don’ts of REN:

2.2.3 cannot sign legal documents, simply put signages, misrepresent facts, need to disclose interest, etc.

Added 2.2.3.8 that Negotiators shall avoid anything that may tend to mislead a party not represented by them – client of other firms. 

Responsibility of REA over RENs:

2.2.4 REA remains responsible – in disciplinary action by Board, however Negotiator may be called in to attend the Complaint Investigation Committee (CIC) inquiries (2.1.5). 

*See amendment 2017 at

http://justletak.blogspot.com/2018/03/amendment-to-vaea-act-1981.html

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