FINALS:

REAL ESTATE CONSULTATION

Module 1: Real Estate Consultation

Objectives:
- This module aims:
1. To discuss the responsibilities of real estate brokers; and
2. To expound on each responsibility.

Responsibilities of being a licensed real estate broker

A real estate broker is the person to contact when buying or selling a house in the Philippines. He
or she must be registered and licensed by the Professional Regulation Commission (PRC) to sell,
trade, or lease any real estate services, which include a house, an apartment complex unit, industrial
property, or commercial space. Earning commissions on the sale of such prospective assets is part
of the broker's income.
A broker's principal job in a real estate transaction is to represent the interests of the buyer or seller.
As a result, great bargaining skills are necessary.
Being a "double agent," or representing both the seller and the buyer, is likewise frowned upon by
Filipino real estate agents, who must act in the best interests of their customers.
Furthermore, many Filipinos may come across those claiming to be real estate salespeople. Even
though they lack PRC licenses, these persons may work under the supervision of a licensed real
estate agent. The salesperson frequently handles the day-to-day responsibilities of a real estate
transaction, such as home viewings, but they are not authorized to sign any formal documents
connected to the deal.
As a registered real estate broker, you will be allowed to market house and condominium
developments and may immediately begin your search for real estate businesses where you might
be interested in working.
Furthermore, because they are officially the boss of the real estate or brokerage business, the broker
is responsible for their agent's activities and excellent service. Both the broker and the agent must
conduct themselves properly with their clients and fellow real estate professionals. In this regard,
a licensed real estate professional should act in the best interests of the client.
Aside from real estate agents, real estate brokers can recruit other personnel such as a real estate
salesperson who oversees monitoring property listings, product development, site inspection, and
acquiring crucial paperwork from the selling or listing agent.
Real estate consulting jobs include appraisal and valuation, entitlement services, portfolio strategy,
enterprise M&S, workplace strategy, geographic footprint strategy, and site acquisition and
analysis, among other things. Professionals who work for real estate consulting firms usually have
expertise in a certain area of real estate and are contracted to undertake project-specific client
engagements.
Consultants often work for real estate consulting businesses, real estate advising firms, or as
independent contractors. Project engagements can be on-site or off-site, and can span anywhere
from one day to many years, depending on the project's scope and magnitude.
Consultants' responsibilities differ based on the firm, specialism, and project. For example, a
consultant engaged to do the year-end evaluation of a portfolio of real estate assets would be
responsible for completing the valuation process by the company's standards.

The needs of a consultant, including tasks and responsibilities, are heavily dependent on the
engagements the consultant is expected to do. Nonetheless, an advanced degree and/or specialized
skills are often required to acquire real estate consulting contracts. A Bachelor's degree and real
estate experience are required at the very least to enter the field of real estate consulting.

Keys to Success
Successful consultants are good at what they do, and as a result, their services are sought after by
real estate businesses (and, by extension, consulting firms). Individuals who want to work in this
field should concentrate on becoming experts in one specialized real estate specialty.
To become a real estate broker in the Philippines, there are several variables to consider. There is
also a market for Overseas Filipino Workers (OFWs) who have built professional marketing
houses and lots for sale in the Philippines to supplement their income. A broker's everyday tasks
include assisting with home viewings and updating online house listings.
Understanding the critical function that a properly qualified and certified real estate broker plays
in the market will assist you in choosing the ideal career path.
Real estate brokers are rewarded handsomely for their efforts. It's a wonderful offer for any agent
who is ready to face the challenges and hazards that come with the job.
To begin, you must first distinguish between a real estate agent and a broker. These two phrases
are so interchangeably used in real estate transactions that most people confuse them.
As a real estate broker in the Philippines, you will represent property buyers and sellers. As a real
estate agent, you will be handling talks between both sides as well as taking care of the
technicalities to ensure that all real estate transactions are completed appropriately.

Are brokers paid more than real estate agents?

One of the most often queries posed by prospective real estate professionals is, "How much do
brokers make compared to real estate agents?" In terms of commission, a real estate broker makes
more than a real estate agent. Real estate agents and brokers are both paid on a commission basis.
Because the agent works for a brokerage business, the broker who controls the firm frequently
receives a bigger portion of the property sale price.
A job in the Philippine real estate sector might be ideal for you. Real estate brokers have a
significant effect on the country's housing market since they choose which home brands and types
of houses for sale in the Philippines are the best options.

References:

One, Dillon. 2019. The Benefits of Having a Real Estate Consultant

The Role of Real Estate in the Modern Day
New York City, USA

https://www.adventuresincre.com/real-estate-consulting-
jobs/#:~:text=Successful%20consultants%20are%20good%20at,one%20specific%20real%20est
ate%20discipline.