Realty By JM

Salt and Light of Philippine Realty

Why Look For A Mentor?

I got my broker’s license sometime in June 2009. Back then, I have no idea what a real estate broker does. All I know is that I can sell. I assured myself: “if I can sell insurance (which is like selling thin air), I can sell anything.” So, I attended a seminar conducted by Pasay-Makati Realty Board (for their new corporate AVP, click here). It was a seminar intended for realty newbies. I think it was called: “So you’re a broker, now what?” Seriously, I can’t remember what the seminar was called.

After the said seminar for realty newbies, I realized that selling is only 20% (probably less) of a broker’s duty. I thought to myself: “What did I get myself into? I am actually not qualified for this post.” So, what do you do when you have a problem you don’t know how to solve? We seek counsel from people wiser than us. In this case, realty mentors.

If you don’t believe me, take the Bible’s advice:

Plans go wrong for lack of advice; many advisers bring success. –Proverbs 15:22”, or “Walk with the wise and become wise; associate with fools and get in trouble. –Proverbs 13:20”, or “The wise are mightier than the strong, and those with knowledge grow stronger and stronger. So don’t go to war without wise guidance; victory depends on having many advisers. –Proverbs 24:5-6”

I still have a ‘lot’ to learn from the realty industry. I also acknowledge that there are always people better than me. Thank you, Mentor Phil C. for always taking time to share your wisdom. I am also very grateful to all masters of the realty practice from PMRB who shared their thoughts with me.

Filed under: Pasay Makati Realty Board, Real Estate Broker, Real Estate Salespersons, , , , , , , , , , , ,

Last Chance?

To those who are interested to be a Real Estate Broker, the Pasay-Makati Realtors Board will host a seminar exactly for you.  They say this is the last time PRC will allow this procedure.

Be reminded that attending this review is not enough.  They are only giving away 24 CEP credits and college graduates needs atleast 120 CEP credits.  Don’t despair.  There will be more reviews like this before the PRC exam on March 2011.

I am attending this because I feel I need new ideas on real estate.  So, brokers, especially batchmates of CRESAR69 how about attending?  CEP Credits may be needed soon.  I say, mag-ipon na kayo.

Filed under: Real Estate Broker, Real Estate Salespersons, , , , , ,

IRR of RESA Law Published

The Professional Regulatory Board of Real Estate Service (PRBRES) / The “Board”, under the Professional Regulation Commission (PRC) / The “Commission” published the much anticipated and heavily talked about Implementing Rules and Regulations of Republic Act No. 9646, Known as The “Real Estate Service Act of The Philippines”.

After reading Realtor Mentor M. Bocaling’s facebook shoutout: ”

To all Real Estate Service Practitioners, the IMPLEMENTING RULES AND REGULATIONS (IRR) of R.A. 9646 is suppose to be out today at the Daily Inquirer and Star. Please grab your copy and go over the IRR.”

I immediately ran out and got myself a copy.

Rule.1.Sec.2 states: …and enhancing government income from real property-based transactions…  After reading this, my initial reaction was: “Oh no!  Does this mean more taxes for me?”

Then I reached: Rule.2.Sec.5.(h) PRBRES to safeguard and protect legitimate and licensed Real Estate Practitioners (RESPRAC) and completely eradicate the pernicious practices of unauthorized or unlicensed individuals;  My take: “I sure do hope so… I pay taxes to hopefully help the government clean the industry.  I’m happy to pay the government because ultimately they are there to protect me and my trade.  So, I encourage other RESPRACs to diligently and honestly do the same.”

What do you think dear brothers and sisters of the trade?  Are you willing to pay more taxes diligently and honestly to help our country and ultimately ourselves?


Filed under: LAW, Real Estate Broker, Real Estate Salespersons, RESA IRR, , , , , , , , ,

Career Growth and Flexibility: Reason to Sell Real Estate

What property do you want to sell?  Are you more inclined to sell or promote commercial, industrial or residential properties?  Do you want to go into selling, leasing, purchasing, exchanging, or mortgaging of real property?  Condominiums, house and lots, raw land, warehouses, buildings, residential resorts, etc…  This list can go on and on…  Bottomline is due all these options, real estate practioners are flexible.  Should you decide residential realty is not for you, you can opt for the other types.

I classify real estate salespersons as self-employed.  Their career growth is really up to them and will never be dependent on some employer.  After three to five years, salespersons should have their own brokerage or business.  Career growth in this context is more like a career change.  If you are currently a real estate salesperson, have you decided when you will make the transition from self-employment to business owner?

But for now, ask yourself this question: “What type of property do I want to sell?  What area or demographic would you want to focus on?”  Kindly post your comments below.

Filed under: Real Estate Salespersons, ,

Public Contact: A Reason to Sell Real Estate

I’ve been selling insurance for more than a decade while my family has been in the same industry for almost 3 decades.  If there is one thing I’ve learned in the selling business, it is this:  “It is not enough to say that you like people.”   Being able to understand and work with others are more important traits than simply liking people.

You see, we are in the business of building relationships.  People will only purchase anything from you once they trust you.  You can even sell your clients anything as long as they believe in you.  As long as they believe that you will serve them better than anyone else in the industry.

Do you feel some sense of accomplishment when you solve other people’s problem?  Are you always excited to meet, and serve, new and different people constantly or daily?  If you answered yes to this questions, you may be a natural born salesperson.  How would you like to earn your first million in realty?

Filed under: Real Estate Salespersons, ,

Perks of A Real Estate Broker

What are the “Perks” of the title Real Estate Broker?  I ask this because I hear some realty Salespersons earning more than their Brokers.  In addition, a Salesperson has less problems because all they need to do is to look for clients and sell, sell, and sell.  On the other hand, Brokers need to think about their Salespersons, their training, the office, management and acquisition of listings, marketing, planning and advertising.

Realty Brokerage is tough business, but why does one want to be called a Real Estate Broker?  What are the less obvious “perks” of the title Realtor?  Based on experience, what common perks do you receive as a Realtor?

Filed under: Real Estate Broker, Real Estate Salespersons, , ,

Limited Supervision: A Reson to Sell Real Estate

Are you like me?  The type who prefers to work freely, with nobody constantly breathing at the back of your neck?  If you answered yes, good for you then.  But, be careful.  This preference comes with a very high price.  You need to be extremely disciplined and responsible because this freedom is and can be easily abused.

Wise and creative use of time, however, will make you succeed in your real estate career.  You should have time to do marketing, advertising, networking, presentations, product / competitor studies, and correspondences.  How you will do all these without burning out or going insane is all up to, after the proper guidance of your broker of course.  

In real property selling, your broker will not be able to supervise you all the time.  He is responsible for training you though.  After that, most of the time, you are on your own.  Hower, this doesn’t mean you are allowed to slack off.  He will still keep track of your production. 

Ask yourself this question:  Am I responsible and disciplined enough to work as a real estate salesperson?  If you honestly say yes, then give me a call.

Filed under: Real Estate Salespersons, Uncategorized, ,

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