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There's a very informative exchange ongoing in Google Groups'  Yangon Expat Connection about real estate agents. Suggest you request membership.

Thank you. I will do.

Hi,

Yes, I have heard a lot of so called horror stories but its never happened to me.
I have arranged for many of my clients to get good accommodations in Yangon.  Never got a complaint until the blackouts started a month ago.
Maybe because I use some of the best agents and tell them exactly what I want.  And I speak the lingo pretty well.

Regards,

Moe

Is there anything like a controlling Real Estate Board, or an  organization where agents need to register or need to qualify in order to obtain a license?
Or is it anyone who is a fast talker can name himself a real estate agent.

ZTRules ,

I am not able to recommand right now .The properties in Myanmar are bubbling up .I guess two to three years .You  should wait until bubbles burst.I am monitoring properties too .I could share you some information .Contact to me envirocareer@gmail.com

TinHtun Aung (Frank)

When my friend came to Myanmar a few years ago, he rented an apartment in a very crammed area for $250 a month, which was pretty expensive for the given "quality." I asked him why he had done so which he replied in a depressed tone: "The house agent persuaded me that it's getting hotter and the apartment has two air conditions and a refrigerator. Before I think "Not bad," he added, "Except that there's no electricity 12 hours a day...usually at night." What a joke!