Realty By JM

Salt and Light of Philippine Realty

Father’s Day Greetings

Happy Father’s Day!

In the spirit of the occasion, let me share one of my favorite lines/advice/truth about realty in a movie. Can you guess which movie this dialogue comes from? The scene where Kevin Spacey (the name of the character he plays would be no fun!) converses with his lover about what his father told him. Here’s the dialogue:

 

Kevin Spacey: Kitty, what did my father used to say to me?

Kitty: You’re losing your hair.

KS: Before that.

Kitty: Get out.

KS: He said: You can print money, manufacture diamonds, and people are a dime a dozen, but they’ll always need land. It’s the one thing they’re not making any more of.

 Image not the actual scene. Just a clue 🙂

 

Did you get it? Like, +1, or what have you if you got it; Share to a friend if you need help, or familiar but needs a little reminding.

What advice/life lesson did your Dad remind or impart to you about the Realty profession, land acquisition & development, maintenance & management?

Have a good day!

 

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When was the last time you’ve been swindled? (last part)

Being swindled, regardless of the amount of moolah, was never or will ever be a great experience.  I know, I know.  I should’ve listened to my mentors.  I’d like to think, however, that I am a better real estate broker because of the experience.  Kinda like being an automobile driver.  You really can’t say you’re a better driver unless you have your first bump.  To those who never made the mistake, good for you.  Maybe I’m just terrible at following instructions.

If you have been reading my previous posts, it is not difficult to pin point when the mistake occurred.  It was a mistake from the start.  Not identifying from the start who I was dealing with was just foolish.  I assumed I was dealing with the owner.  I should’ve known better.  It’s a simple question to ask: “Are you the owner?”  Would’ve sufficed.

Also, I assumed that the building is so old that no one, including me, will opt to live in that unit.  Wrong!  “Never judge others”, Mathew once said (http://www.gospel.com/bookmarks/Judge-Bible-Matthew-7-1-5/8699).  In our profession, it is not our lot to say if they’ll like a property or not.  It is our duty to just present what we have and pray that they like it.  No buts.  I should’ve just known my role and shut my mouth and ended the negative thought.

So, NEVER ASSUME!

At first, I was so angry with that old licensed broker.  I really wanted to destroy her ’20 year’ career.  But, I don’t see any good in doing it.  I pity her because she may really need the money and decided to swindle a newbie like me.  It was my first ‘burn’ in the profession and I hope it won’t happen again after paying for tuition.

What’s your story?  When was the last time you’ve been swindled?

Jonas Montemayor

Real Estate Broker

PRC License #: 0007396

503-8070 / 0905-311-0120

RealtyByJM@gmail.com

http://www.RealtyByJM.wordpress.com

Filed under: Real Estate Broker, Real Estate Lesson, , , , , , , ,

When was the last time you’ve been swindled? (part one)

For me, the answer to this question is recently.

Here’s the story:

Some time last week, around 10 a.m., I got a phone call from a person who I assumed to be a unit owner.  She told me about a condo unit in Ortigas Center that has been vacant for a long time.  Then, she asked if I have client looking for that kind of unit.  I told her, I’ll keep the information in mind for I don’t have a client for her at the moment.  So, we hung the phone.  Said to myself that the unit was in an old building and chances are, it was no good.

Surprisingly, after two hours, a client called and was looking for a condo unit in Ortigas Center.  It was an perfect match with the unit above.  So, I called the ‘unit owner’ and arranged a viewing of the unit.  The viewing was set on a Saturday afternoon.

Saturday afternoon came and I have a dilemma.  Problem was I cannot be at the viewing for I have to be somewhere with my wife.  I tried to call my cousin asking her to represent me and show the unit.  She was not available at the time so I had to look for an alternative.  I began to rationalize and said to myself: “Chances are, my client will not like the unit for it was in an old building with dark halls… I wouldn’t live in that condo so, why would others live in it?”

To be continued…

Jonas Montemayor

Real Estate Broker

PRC License #: 0007396

503-8070 / 0905-311-0120

RealtyByJM@gmail.com

www.RealtyByJM.wordpress.com

Affiliation:

Philippine Association of Real Estate Boards

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What’s your most gratifying realty transaction?

Mine was a surprise. It did not come from a big transaction which most realty newbie dream of. It did not even come from a very small sale. Believe it or not, it came from ‘not’ closing a sale. Without adieu, here’s what happened…

Sometime in the 2nd week of January 2011, I got a call from Jose Cuervo (not his real name). He’s an American calling fromHawaii looking at my online ad of a 2 bedroom, residential condominium unit in Ortigas center. He did not waste time and said: “I’m visitingManila next week and would like to view this unit.” To cut the long story short, we set the appointment and met on January 19, 2011. That day, I showed him two units. After two days, we met again and saw three more units handled by our MLS co-brokers. Like I said earlier, this isn’t a successful close.

Four months after, I got a call from the same guy asking questions about the title transfer process in thePhilippines. In the middle of our conversation, he asked if I can assist with the transfer process and how much would it cost him if I provide that kind of service. Since I have no experience on the matter, I said I’ll think about it. After exchanging a number of email correspondences, I finally agreed to accept the job.

I’m not disclosing what I earned because I am more gratified with his reason for contacting me and hiring my services as a real estate broker.  The feeling of being sought after, or being treated as a professional / expert, for me, is just priceless. So, what’s your story?

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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, , , , , , , , , , , ,

Examination Preparation (Part 2)

By now I hope you have started to pray, study, join a study group, and sleep early.  Here are some more suggestions on how to prepare for the Real Estate Broker’s Exams.  Did you miss my previous entry?  Click here

Exercise.  A healthy mind starts with a healthy body.  Agree?  Well, you should.  You don’t want to have all those aching pains distracting you during your exams now, do you?  So, you better keep yourself fit.  Try yoga, meditation and deep breathing exercises.  Even a simple 30 minute brisk walk per day can do wonders. 

Eat Veggies.  If you want to be like the Prophet Daniel, who is ten times wiser than anyone during his time, you’ll have to watch what you eat.  Don’t over eat as well.  Please find time to read Daniel 1.  Oily foods will just make you sleepy and sluggish.  Have faith and take Daniel’s 10 day diet test.

Drink Water.  This is in line with my previous suggestion.  For 10 days drink water only.  You want your brain well hydrated when you take the exam.  Choose alkaline water and it will help bring your body into its natural alkaline state.  To read more about the health benefits of alkaline water, please click here.

To all the people who asked me for this one, here it is…  I hope all these will help you just like it helped me.  If you follow all these I can guarantee that you will be in a better disposition than most examinees.  And on the day of the exams, remember: “Don’t worry about anything; instead, pray about everything.  Tell God what you need, and thank him for all he has done.  Then you will experience God’s peace, which exceeds anything we can understand.  His peace will guard your hearts and minds as you live in Christ Jesus.” (Philippians 4:6-7)

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Examination Preparation (Part 1)

You don’t believe in luck, do you?  Here’s a list of what you can do to prepare for the Real Estate Broker’s exam.

Pray.  Never underestimate the power of prayer.  You need to pray more especially when you are having trouble finding time to study or having difficulty retaining what you learned.  Be humble and share your hardships with God. (1 Peter 5:6-7)  In addition, if you are starting to worry and negative thoughts are starting to enter your mind.  Pray. (Philippians 4:6-9) 

Study.  You really can’t pass this exam without studying.  Why not devote your first waking hours to study?  Try waking up before 5 a.m. and study without disruption.  Also, this is to train you to wake up early for the exams.  Remember your exams will be in the morning and you want to be there early.

Join a Study Group.  You want to check and discuss if what you know is correct.  An ideal study group is a small one, about 5 members.  I believe studying with peers is better than coffee.  For me, studying alone is boring.  When you’re with a group, you can at least chit chat during breaks and rest from the monotony of reading.

Sleep and never stay up late.  All the studying in the world can’t help you if your brain is tired.  The Taoist believes that the each hour you sleep before 12 midnight counts as two hours.  They also suggest that you sleep before 10 p.m.  So, even if you wake up at 4 a.m. you still have a complete 8 hour rest.

To be continued…

Please click here for part two

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