A lot of property owners and buyers tend to overlook the importance of hiring a Real Estate Broker to represent them. Though before we dig deeper into this, let me give you first a definition of our profession to give you a better understanding,
Real Estate Broker: a duly registered and licensed natural person who, for a professional fee, commission or other valuable consideration, act as an agent of a party in a real estate transaction to offer, advertise, solicit, list, promote, mediate, negotiate or effect the meeting of the minds on the sale, purchase, exchange, mortgage, lease, or other similar transactions on real estate or any interest therein.
As simple as it is, the definition doesn’t even give the full extent of the workload that brokers do for every client. For example, in sale transactions, we first accept a client to list or to purchase. Then we either list or search the property in which requires numerous hours and spending on our part without getting anything in return yet. Then we do a series of viewings of the property until the buyer is comfortable and secure in purchasing it. Once the contract is signed, then we get paid. If the sale tanks we don’t get anything from what we worked hard for.
Still some people still give this profession a tarnished image. In this world of real estate, there will always be those unlicensed people to blemish this. They will give the client a reason to be afraid and discredit the right professional people. Section 29 of Republic Act 9646 does say,
Prohibition Against the Unauthorized Practice of Real Estate Service – No person shall practice or offer to practice real estate service in the Philippines or offer himself/herself as real estate service practitioner, or use the title, word, letter, figure or any sign tending to convey the impression that one is a real estate service practitioner, or advertise or indicate in any manner whatsoever that one is qualified to practice the profession, or be appointed as real property appraiser or assessor in any national government entity or local government unit, unless he/she has satisfactorily passed the licensure examination given by the Board, except as otherwise provided in this Act, a holder of a valid certificate of registration, and professional identification card or a valid special/temporary permit duly issued to him/her by the Board and the Commission, and in the case of real estate brokers and private appraisers, they have paid the required bond as hereto provided.
My advice is to only deal with a licensed broker with every real estate transaction you have. You’ll see the big difference. As an independent brokerage firm, we are exposed to numerous clients and transactions and each one of them has their own distinct story. These people who have worked with a broker before adhere to the proper way of transacting in real estate. Some came from a world of regret previously dealing with a fly by night agent. Try to experience the service and if you haven’t, it’s worth every penny.
By: Peter Norrdell
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