Are you looking to renew your REN Tag as a real estate professional in Malaysia? Let us walk you through how to do this in a stress free way.
Your REN Tag must be renewed every year, and you’ll need to meet certain criteria to do so. Renewal of your REN Tag ensures compliance with government regulations, allowing you to carry out your real estate activities without any hurdle. While the renewal process may seem stressful, especially when you’re busy building your business and negotiating with clients, there’s no need to worry. With proper planning and clear understanding of the process, you can make it smooth and minimise the time it takes away from your professional activities.
This article will outline the best practices for REN Tag renewal 2024 so you can keep practising real estate without stressing about your eligibility.
Understanding REN Tag renewal
REN Tag is a government issued identification tag containing all your information including your name, photo, IC number, REN number, firm name, firm registration number, quick response code (QR), and security features. You probably wear it at all times while conducting real estate business. REN tag renewal is a legal and professional requirement for realtors in Malaysia.
From a legal perspective, renewing your REN Tag ensures compliance with the standards and regulations set by BOVAEA. This compliance verifies that you adhere to ethical practices and possess the necessary qualifications to engage with customers. It also confirms that you have completed mandatory training and professional development, which are essential to maintaining your licence.
Professionally, renewing the REN Tag demonstrates your commitment to continuous professional development (CPD) and adherence to industry standards. It reassures real estate clients and employers that you are up-to-date with the latest market trends, legal requirements, and best practices.
Failing to renew your REN Tag means you will be legally unable to practise real estate in Malaysia. It may also result in fines, suspension of your licence, or other disciplinary actions by the Board of Valuers, Appraisers, Estate Agents and Property Managers (BOVAEA), also known as LPPEH. These penalties can have significant financial and reputational impact.
How to renew your REN tag
You’ll have to go through several steps to renew your REN tag. It includes training, documentation, and payment of application fees. However, it’s not complicated if you approach it with sufficient planning and understanding. Here’s a step-by-step process for REN tag renewal in 2024:
Step 1: Complete the CPD training
Attending CPD training is mandatory for all real estate professionals and agents in Malaysia looking to renew their REN Tag. CPD programs keep you updated on the latest legal updates, industry trends, and best practices.
The first step is to complete your CPD training through BOVAEA-approved training providers. This accreditation ensures your training is recognised and counts towards your REN Tag renewal. Check the official BOVAEA website for a list of recognised CPD courses and providers before enrolling in a course. Keep in mind that there may also be mandatory minimum hours of attendance required.
Make sure you plan for your CPD course early in the year to avoid last-minute rush. Many real estate professionals make the mistake of attempting to complete their training just before the renewal deadline. It will definitely lead to overbooked sessions and unnecessary stress. Therefore, try to complete your CPD training at least a few months before the deadline.
Step 2: Prepare your documents
Once you complete your CPD training, you will need to gather the necessary documents necessary for renewal. These typically include:
- A copy of the CPD completion certificate
- Your current REN Tag
- A valid identification document (e.g. MyKad)
- Employment or engagement letter from the real estate firm you are associated with
Ensure all your documents are accurate and up-to-date. Submission of an incorrect document or a document with missing information can delay the renewal process.
Step 3: Check eligibility and registration
It’s important to confirm that you meet all eligibility criteria for renewal before submitting your application for REN Tag renewal. Among a few other requirements, you should complete the required CPD hours and be currently employed or engaged with a registered real estate firm to be eligible for the renewal of your REN Tag.
Check your participant list to ensure you are correctly registered for the CPD program. The list is usually posted online by the training provider or on the LPPEH website.
Step 5: Submit your application and pay fees
Once you’ve completed your CPD training and gathered all necessary documents, it’s time to submit your renewal application to BOVAEA.
You’ll need to pay a renewal fee to renew your REN Tag. It’s currently RM200, which you can pay online or through designated banks. Keep a receipt or proof of payment as it might be required during the application process.
In the next step, fill out the application form, or any other form, needed to complete the application process and attach all required documents.
After submitting your application, you may want to follow up to ensure it is processed. This can help you address any potential issues promptly and avoid delays.
Here are some tips to make your REN renewal process smooth
- Understand the process: Make sure you know the process and exactly what you need for renewal.
- Plan early: Prepare for your REN Tag renewal several months in advance. You’ll have enough time to complete CPD requirements, gather necessary documents, and address any issues that may arise. Schedule all key dates and deadlines where it’s convenient for you (for example on your calendar app or physical calendar). Create target dates for when to complete CPD training, submit renewal documents, and pay any fees. This helps you avoid the last-minute rush.
- Stay updated: Regularly visit the official BOVAEA website to keep up with the latest information. It’s important to get updated on any changes to the renewal process, CPD requirements, and accredited training providers.
- Verify training provider’s accreditation: Before enrolling, make sure the CPD course you’re attending is provided by accredited institutions. It’s crucial that your training is recognised for renewal purposes.
- Book your courses early: Popular CPD courses can fill up quickly. It gets tighter during the end of the year. Booking your courses early comes with so much flexibility that you won’t need to worry, even if you need to reschedule.
- Organise documents accurately: Keep a record of both the physical and digital copies of all your important documents, including CPD certificates, renewal applications, and payment receipts. Doing so will allow you to quickly access any information during the renewal process.
- Double-check submissions: Before submitting your renewal application, ensure all documents are complete and accurate.
Here are common pitfalls to avoid when renewing your REN Tag
Overlooking deadlines
As you may already know, the CPD training and renewal process have specific deadlines. Missing them will make your REN Tag invalid and disrupt your ability to legally operate as a real estate professional.
You can avoid it by:
- Beginning the renewal process early.
- Setting reminders. You may use digital calendars or apps to remind you of the deadlines for CPD training and renewal submissions.
- Regularly checking the official BOVAEA (or LPPEH) websites for updates on deadlines and requirements.
Documenting incorrectly or insufficiently
Submitting incomplete or incorrect documents will delay your REN Tag renewal process. In worse cases, you may even need to repeat some steps.
Here’s how to avoid it:
- Carefully review the list of required documents and ensure all the forms are correctly filled out before submitting.
- Keep both physical and digital copies of all your documents so they are well organised and easily accessible.
- Ask CPD training providers or relevant authorities for any requirement you’re unsure about.
Not completing CPD requirements
It’s important to note that simply attending CPD sessions doesn’t mean you’ve fulfilled all the requirements. You’ll also need to pass assessments and complete mandatory hours. If not, this can lead to incomplete training status.
Here’s how to avoid it:
- Ensure you know all the requirements for completing your CPD training. Know the number of hours, types of activities, and assessments you need to pass. If you’re unsure, you can typically request this information from the real estate agency you’re affiliated with.
- Participate actively so that you don’t just meet all requirements for certification but also gain valuable professional knowledge.
Not being aware of CPD training provider accreditation
CPD training from non-accredited providers is not officially recognized. Such CPD sessions do not receive the necessary credit required for renewal, and as a result, your REN Tag will not be renewed.
You can avoid it by:
- Always verifying that the CPD training provider is accredited by BOVAEA. You can find this information on official websites.
- Referring to official lists of accredited providers published on regulatory body websites.
Conclusion
If you’re finding it difficult to allocate time for the REN Tag renewal process without it taking a toll on your work, consider making your operations more efficient. Many realtors spend a substantial amount of time and effort managing repetitive outreach and follow-up tasks, and using multiple platforms for their sales processes.
A CRM can streamline your sales process and significantly improve sales. While doing so, it will also free up a substantial amount of time that you would otherwise spend managing customers and entering data. If you prefer managing your sales process on the go from your mobile device, look no further than Privyr.
Privyr is a mobile-first CRM designed for realtors to run their entire sales from wherever they are. It integrates with major lead sources like Facebook Lead Ads, and helps automates most of your repetitive tasks, freeing up your time so you can allocate more time to important activities, like renewing your REN Tag
