Logo of Phnom Penh Post newspaper Phnom Penh Post - Equipping property agents with professional licenses

Equipping property agents with professional licenses

The building of the Ministry of Economy and Finance, which has pledged to crack down on illegitimate real estate agents operating in the Kingdom.
The building of the Ministry of Economy and Finance, which has pledged to crack down on illegitimate real estate agents operating in the Kingdom. Moeun Nhean

Equipping property agents with professional licenses

For those interested in a career as a real estate agent, Century 21 Cambodia, in collaboration with the University of Economics and Finance, will spearhead a training course that has the Ministry of Economy and Finance’s (MEF) stamp of approval.

Grace Rachnivong, director of Century 21 Cambodia, informed Post Property late last week that the training course, set to begin at the end of this month, would focus on honing real estate agents’ skills in order for them to be recognised and granted a license from the MEF.

The license would only be granted following 36 hours of intensive lessons with highly experienced Cambodian real estate experts and foreign mentors in the property field.

After passing the test, participants would receive a legal license from the ministry before being able to take up their official role as agents in the industry.

Content image - Phnom Penh Post
Grace Rachnivong. Photo supplied

“Even if graduates complete their training in schools and finish their [respective] majors, they won’t do well in this field if they haven’t been taught specific skills – that’s why it’s necessary for them to receive proper training and get a legal license,” Rachnivong emphasised.

Commenting on who can qualify for this course, she said candidates need to have passed the Year 12 national exam, while university graduates and heads of firms are also welcome.

Rachnivong said the training course was only a stepping stone towards legitimising the practice of real estate in the Kingdom.

In the near term, the MEF will make it mandatory for all real estate agents to possess a legal practising license before being able to act as an agent.

According to Rachnivong, the training program will encapsulate the legal aspect of the practice, the legal procedures of a binding contract as well as a real estate agent’s code of conduct.

Kuy Vat, CEO of Century 21 Cambodia, said teaching the skills in this industry is the fundamental aspect in improving the industry.

“There used to be a similar initiative in the past, but the quality of the training course was questionable,” he said.

“Now we’ve established a training course that is organised and clear.”

Vat emphasised that the training course would be taught by experienced professionals, enabling the participants to enhance their skill set, which would assist them in transferring that knowledge over to the demands of real-life, industry situations.

He continued, “When real estate agents are competent, they will become more confident, and this will attract more investors to invest in this industry.”

Mey Vann, director of the financial industry department at the Ministry of Economy and Finance, said training and up-skilling the country’s human resources would bring about wide-ranging benefits across all facets of the property sector.


  • Government hits back at threats to pull EBA, suspend UN seat

    The spokesman for the ruling Cambodian People’s Party (CPP) has said the government is in no way concerned after the European Parliament gave it three months to reverse what it called the “systematic repression of the political opposition”. Ignoring the ultimatum could mean facing

  • Chinese influx pushing locals, Westerners out of Preah Sihanouk

    Some within the Kingdom’s tourism industry have speculated that the recent influx of Chinese visitors may hinder domestic tourism as the price of accommodations in the coastal city of Sihanoukville continues to rise. Preah Sihanouk province, which has become a hotbed for Chinese investment

  • Sar Kheng: Sokha requested security

    Interior Minister Sar Kheng on Sunday revealed the story behind the transfer of former opposition party leader Kem Sokha from Trapaing Phlong prison in Tbong Khmum province to his house in the capital. Speaking at the ruling Cambodian People’s Party (CPP) headquarters in Prey

  • ‘Dire consequences’ from sanctions, warns AmCham

    American businesspeople in Cambodia have warned that any sanction against the Kingdom would have “dire consequences” that could push Cambodia even further into the arms of China. In a letter to US senators and representatives dated Monday, the American Chamber of Commerce Cambodia (AmCham) said