Realty By JM

Salt and Light of Philippine Realty

Brokers Should Dress Like Piolo Pascual

I have been with too many Real Estate Brokers who present property wearing just jeans or shorts. No wonder we are not treated like professionals in this country. We don’t get respect because most of us don’t clothe ourselves respectably.

It’s time for a change!

In this article, Piolo Pascual, considered one of the best dressed in his industry, imparts a simple advise on dressing. It may be impossible to look like him, but at least we can dress respectable like him. Casual, but elegant can work in most of our viewings.

Even if we don’t close the sale, at least we gain some respect if we dress well.

Please click here for the article.

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

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, , , , , , , ,

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?

Filed under: Real Estate Broker, Title Transfer, , , , , , , ,

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 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

Filed under: PRC, , , , , , ,

Registering for PRC License Without Exams

You knew I took the road less traveled if you read my previous blog.  If not, it’s not the end of the world.  You can still read my previous blog entitled: “Out of PRC in 30 Minutes” by just clicking HERE.

Now this blog is about you beating my record of 30 minutes filing in the Professional Regulation Commission.  It is possible.  You see…  When I filed for PRC License without Exams, I encountered some stumbling blocks that caused delay.  It is my hope that you don’t go through those stumbling blocks.  May this help you and be your guide to a smooth and easy filing.

Before anything else, make sure that all documents you need to submit are in order.  These steps are useless when you don’t have the proper documents at hand.  Preparing before any battle is of utmost importance.  Click HERE to view the list of requirements.  Additional requirement… bring paste!  Or, you can be a freeloader and ask paste from the people who bought there.

So, are your requirements in order?  Did you make copies already?  When all of these are ready, you are now prepared to go to PRC.  First step I recommend is that, upon entering the government agency’s premises look for their customer service center.  PRC’s customer service can be found near the entrance, ground floor of course.  Who knows, maybe these steps are passé the time you read this.  I want you to be diligent and double check.  Be reminded, I am no expert and can only narrate what I’ve gone through.

Second step: go to 2nd building, entrance is near the cashiers (windows 33-36).  Show and submit all your documents at the 3rd floor of the said building, first window you see.  A young clerk will check all your requirements and staple them all together.  She’ll give you another small cardboard form to fill up.

Third step: go to the 2nd floor of the same building and look for their legal department office where you will dish out 100 pesos for notarization.

Fourth step: go out of that building and proceed to ground floor, window H of the 1st building near the entrance.  They will verify that you passed the exams.  At this point, I do hope you passed the exams!

Fifth step: Metered stamping, also near the entrance / ground floor.  You’ll be charged 21 pesos for this.

Sixth step: Cashier or Windows 33-36.  Window 36 are for the senior citizens and pregnant.  So, if you are young and male, you can only fall in line here when you have a bulging abdomen. Hehehe…  You’ll pay 900 pesos.  Up to this point you already spent 1,021.00 bucks.  And you are not yet sure if you’ll be issued a PRC License.

And lastly, go back to the first window on the 3rd floor where you first showed everything.  They will collect all your documents and give you a claim stub.

I hope this helps…  By the way, on your way out, I recommend you get your Oath form at the customer service counter.  You’ll need this form the next time you visit PRC.

Filed under: PRC, , , , , , ,

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, , , , , , , , ,

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