Nothing is more rewarding when a customer is satisfied with the product of your company especially if you became its way for the successful purchase. However, marketing is not an easy task because of the persuasion and negotiation needed to be undergone to attract and gain customers. Surely, having a talent and passion for marketing puts you in good places and opens a new hustle in your life. Real estate is becoming a popular investment for the public especially for younger generations as there are a lot of properties to choose from. But acquiring the right property at the right price and location might be a taxing job for new investors. So, if you are thinking of a career shift with your love for marketing and interest on real estate, this might be the right guide for you. How to become a real estate broker or agent in the Philippines? But before that, it must be determined that there is a difference between an agent and a broker.
The Main Difference of Real Estate Agents and Real Estate Brokers
Like any profession, it is important that before becoming an agent or broker, you have a background on the real estate sector. However, qualifications for real estate agents are easier to attain than a broker. According to the Real Estate Services Act of the Philippines, real estate agents or salespersons are not required to take a licensure exam in comparison for real estate brokers who are mandated to be licensed before practicing the profession. Although, one cannot be an agent without a broker as these individuals work under the supervision of real estate brokerage firms which are established by brokers. Nonetheless, real estate brokers have more freedom compared to agents because of their license and years of education so one may choose to employ agents or run his brokerage firm on his own.
How to Become a Real Estate Agent in the Philippines and Its Limitations
Despite the benefits of being a licensed broker, it cannot be denied that being a real estate agent is a good career to take especially if you are unsure whether you will grow in the real estate field. Although it is not a licensed profession, there are certain qualifications set by the Professional Regulatory Commission (PRC) which must be met to get an accreditation and be a legal sales agent of real properties. Here are the criteria which must be complied:
- Must be a Filipino citizen
- Must have completed at least two years or 72 units in college
- Must be of good moral character and must not have been convicted with any crime involving moral turpitude; and
- Must have undergone training and seminars of at least twelve (12) credit units in real estate brokerage
Securing such accreditation is a must as this is a directive of the Real Estate Service Act of the Philippines. Without accreditation, you cannot legally transact or represent your broker in real estate transaction. Worse, you and the brokerage firm which employed will be penalized by the law in the absence of accreditation. Another limitation of becoming an agent is your non-entitlement to other incentives like negotiating your fees or commissions with the buyers or sellers for representing each party and making the transaction a success. But the real estate brokerage firm may give these lost incentives for a successful transaction. Basically, the real estate broker is your employer who gives you a fair and just compensation for every successful task you do.
How to Become a Real Estate Broker in the Philippines
Becoming a real estate broker opens you to new opportunities like running your own firm, establishing your connection for a more profitable real estate transaction and many more. But being one is not an easy task. There are several things to be undergone to become a licensed broker. Here is a guide on how to become real estate broker in the Philippines.
- Graduating under the bachelor’s degree in Real Estate Management
Acquiring a diploma under this college degree is mandated by the PRC if you plan to be a licensed broker. It encompasses the required fundamentals of becoming a real estate broker such as the related laws, ethics, and general practice of profession.
- Passing the Licensure Exam
After finishing your college degree, you need to prepare yourself for the licensure exam. This will test your knowledge and fundamentals of the profession. In this way, it will gauge your readiness on becoming a real estate broker. It is expected that you are equipped with good ethics and proper knowledge on real estate matters especially on its legal side in protection of the seller and customer’s interest.
- Oathtaking as a Licensed Real Estate Broker
Upon passing the licensure exam, successful examinees are required to register and sign in the Roster of Registered Professionals to start practicing your profession. By signing on this, you are expected to embody and practice the ethics and responsibilities of your chosen profession.
Why Choose to Start a Career in Real Estate Industry
Property investments age like gold. As time passes, property values skyrocket depending on various reasons like location and its nearby amenities. But one possible reason to start a career in real estate industry is the financial growth it offers. Normally, employees have a salary. Being a real estate agent or broker with connection to a real estate company gives you the same benefit. Aside from a stable salary or income, commissions are given for successful transactions. This gives you more room for your financial growth which opens you to investments or higher savings. Though, there will be times in which you will have a downward sales trend or maybe no sales at all. But never forget that for every transaction you close, it connects you to other potential customers or friends in the industry. Hence, your sales talk and building rapport do not go to waste as these give you endless possibilities because of the network you built which may provide you opportunities to maintain or grow your career.
Real Estate Investments are Easier Through Different Financing
Aside from knowing how to become a real estate agent or broker in the Philippines, knowing the current real estate condition in the Philippines may persuade you to risk and start a career in this sector. The Millennials are eager to succeed on their hustles to obtain a better life. One way to say that they have a more comfortable life is investing in real estate properties. They work hard and maximize the Pag-IBIG housing loans or even bank loans especially if affordable house and lot or condominiums are available. With the lenient payment terms, many are deciding whether to invest in properties. So, this is an opportunity for people who wants a career shift and has a heart for doing sales and negotiation with people. It may not be always a success but the commissions you will gain are promising enough especially with proper financial literacy. As the economy tries rise again from the severe impacts of pandemic, real estate industry starts to recover. This only entails that real estate purchases will start to increase in numbers. Along with the escalation of this industry, you might be the agent or broker needed as the rental demand increases. With the present industry trend, why not shoot a shot of turning your thoughts of “how to become a real estate agent in the Philippines” a reality?