CVEA Intends to Standardise & Systemise Sales Agents Nationwide

• 10 June 2021
• Local News
• 1515 Views

Senior members of the Cambodian Valuers and Estate Agents Association (CVEA) are considering opening a university to train all real estate agents nationwide and also planning to integrate all agents into a single management system.

The proposal was made after the association discovered that the majority of investors do not trust Cambodia’s sales agents due to their lack of knowledge and proper management system. Thus, with the plan to standardise and systemise all agents, the CVEA is hoping to attract more and even bigger investment.

According to CVEA President Chrek Soknim, there are at least 40,000 real estate agents in Cambodia at the moment, only a small amount (estimated around 3,000) of whom are well-trained.

“The association is discussing with members to establish a college to train them all. We will try to speed up the process,” said Mr Soknum.

“Well-qualified agents is the key to success. They will not only be just salespersons, but also investment advisors to clients. They will create more trust, which later leads to long-term opportunities, ” he added.

Chairman of the Board of Directors of CVEA and CEO of Realtor 168 Co., Ltd Lim Socheat fully supported the college establishment proposal and added that merging all agents into a single management system would also be another market booster.

“Now, agents are not only well-qualified, but they also run around from one firm to another with no systemic record. This makes each firm and the market as a whole less efficient,” said Mr Socheat.

“Thus, we should create a system that lists all info such as experience, and the scope of works of all the agent and companies in it. The system will hopefully help increase investors’ confidence as they can easily access the agency information before making a deal,” he added.

He added that this system will also benefit all the firms as it is a platform to manage all agents, exchange opportunities, or cooperate on any projects to attract more and bigger investment.

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