Pardon our couple’s pictures 🙂 It’s the first photo that got into my mind when I thought of the word “Partnership” and “Real Estate Broker”.
You see, my husband and I founded Brick and Click Realty and Development Corp in May 2011. Our partnership as a couple, our partnership with our Sales and Office team, and our partnership with our Clients keep the company moving for the past 5 years. (that’s me explaining our photo, LOLz)
Lets now go to what I really want to talk about — Why Partner with Real Estate Broker if you want to Sell or Lease out Your Property? Or perhaps, same as if you want to buy or rent a property.
Real Estate Brokers are licensed professionals. In the Philippines, the are board exam passers, and they carry their PRC certificate. Like other licensed professionals — Engineers, Doctors, Dentists, Teachers, and more — they studied, took exams, and continually complies to all legal requirements from PRC and HLURB.
It is everyone’s personal freedom to “self medicate” when sick, or “self study” or construct something without asking help from a doctor, teacher, or engineer. Same concept goes if you have a property that you want to sell, buy, rent, or offer for rent.
Your Real Estate Broker will take care of marketing, promoting, presenting, negotiating, and paper works. We will either find a buyer or tenant for your property, or find a property that will fit your requirements, budget, and other personal preferences in consideration of the current Philippine Real Estate Market in mind. I call my self, “The Match-Maker” — matching homes and families.
Broker’s Professional Fee, or what we commonly know as Broker’s Commission.
PROPERTY SALE. Don’t be afraid of including additional amount on your property’s value for Broker’s Professional Fee, that should be part of your “Selling Price”. In the Philippines, we are given 5% sales commission as standard. This is how your property’s Gross Selling Price should look like:
Gross Selling Price = Property Value + Capital Gains Tax + Broker’s Commission + Miscellaneous Expense
Miscellaneous expense could include Care Taker’s salary, electric and water bill while property is in the market, personal marketing expenses, etc.
Another way to go about it is to just ask for a Fixed Property Value, or Net Selling Price. Meaning, the Broker will just add the Taxes and Commission on your asking price. For example, a client will just tell me “Jenny, I just want 2.5M from this property, net (Net Selling Price). Bahala ka na sa commission and taxes”. So from your Net Selling Price, we’ll add the broker’s commission, taxes, and miscellaneous.
PROPERTY LEASING. If you want a broker to manage your Rental Property, our standard professional fee is 1 Month for 1 year lease contract. If the lease contract is less than one year, we compute it as 1/12.
What should I do if I want a Real Estate Broker to sell my property?
First of all, verify if you’re really talking to a LICENSED Real Estate Professional. We have a PRC ID that should always be handy. Although in some cases, like in our company, I have Sales and Office staff who represents the company on my behalf. We operate our brokerage team under my license, that will also do.
What I love about working with a team is that, we can optimize our skills, our time, and our potential. I say, synergy is still best.
Exclusive VS Non-Exclusive Broker
Your property can be listed with several brokers or with just one. Its up to you what you want. You can talk to many brokers and offer your your property as Non-Exclusive listing, or choose one Exclusive Broker. I know some Real Estate Companies require Exclusive contract. The broker or broker company wants the exclusive right to sell your property. If clients are interested with your property, they have to talk to your exclusive broker.
Authority to Sell
It is best to put agreements on black and white. Once you and your broker agreed to “offer to sell” your property, you or your broker can prepare, sign, and notarize the Authority to Sell Agreement. Some details that you should not miss there are your complete name and address, marital status, citizenship, exclusive or non-exclusive agreement, and duration of the authority which is normally 1 year.
Authority to Lease
Just like an authority to sell, the Authority to Lease Contract is the written agreement where you state that you allow a particular broker to offer your property for rent. Oh, and if you trust your broker, better if you leave a copy of the keys of your unit to her/him.
Are you looking for a Real Estate Broker?
We can help you! You can email us at firstname.lastname@example.org or you can call or text us with the following numbers:
Partner with a Real Estate Broker. Develop trust, friendship, and relationship. We are farrrrr more than just “the guys giving flyers on malls”, and we’re not even greedy with commission. We practice our profession and we work our a**es the best way we know how. I guarantee you, there’s much about the industry that we share to learn 🙂 Again, trust, friendship, relationship 🙂
Your Real Estate Broker, Signing off 🙂
~ Jenny Trinidad-Carlos