Considering to have a career in the real estate industry or planning to buy a home? Know who you want to be or who you’ll be dealing with during this journey. Let’s understand one of the most common jargons used in real estate – the agent vs. the broker.
Jargons in Real Estate
You may have always heard the term agent or broker whenever real estate is the topic of a conversation. However, just because a word might sound familiar or we hear it often doesn’t mean we truly know its definition and significance. And that’s okay. Not all people have the time to do some research about the things they’re not mostly involved in or have little significance in what they do. But when it comes to home buying or even buying anything that has a big value, it’s important to know the true definition of the words used so that we cannot be easily swayed by unfamiliar, yet beautiful sounding words.
In real estate, there are so many words we always hear and one of those is brokers or real estate agents. You might have already wondered in the past but today, let us define who they are and what they do.
What is a Real Estate Agent?
Real estate sales professionals, commonly known as agents are the ones people think of whenever buying a property is involved.
Real estate agents are professionals who help people in buying, selling and renting a property. Connecting buyers and sellers, real estate agents are known for facilitating a sale of a real estate property. They conduct client meetings, open houses, and pretty much other activities that takes part in selling a property.
Agents make money through a commission or a percentage of the property’s selling price once a sale is closed. Commission rates depend on the firm where agents are employed. If you’re planning a career in sales, starting as a real estate agent is a great experience. With hefty commissions, you also have the ability to work like a boss since a sales career often enables flexible working hours.
What is a Real Estate Broker
Real estate brokers are people who took their education further and achieved a career beyond the agent level. Quite similar to real estate agents, brokers also facilitate the sales of properties. Brokers could work for either the buyer or seller.
When working for a buyer, a broker is expected to find the perfect property for the client. And when working for the seller, a broker is also in charge of determining market values and assist other processes that could be more than just the buying and selling.
Brokers has a different license than agents. This license is the very reason why they have more freedom than common real estate people. Because unlike real estate agents who works for a company, a broker can work independently and even start a brokerage firm.
Real estate brokers earn by earning a commission through a sale made by themselves of by the sale of agents under them.
How to Become a Real Estate Professional the Philippines?
Being part of the real estate industry is not as easy as it seems. To become a real estate broker, there are pre-requisites that are required by law.
- Get a Degree in Real Estate Management
- Apply for a Certification at the Professional Regulation Commission
- Take and Pass the Real Estate Licensure Exam
- Be a Real Estate Broker
On the other hand, to become a real estate agent, one should be accredited by PRC even without taking a licensure exam. But you must’ve at least undergone trainings and seminars of at least twelve credit units from a real estate brokerage or firm.
A Career in Real Estate
Now that you’ve known the difference of a broker and an agent, are you finally considering to become one? Not only it is a great opportunity but working in sales, in general is financially rewarding. If you’re good at communicating with people, working with others, and negotiating, might as well begin a career in sales.
Working as a sales professional is challenging yet it will enable you to develop some skills that could take you further in life. Real estate selling is hard work since your income would depend on the sale you’ve closed but you also have the option to work in your own terms and set your own hours.
Why Choose to Work with a Professional?
Although there are differences between a real estate agent and a broker, when it comes to buying or selling a real estate property, it’s still best to work with a professional. Working with someone who knows the ins and outs of the industry could help you avoid problems, and save money. If you’re lucky enough to have a great relationship with whoever you’re working with, you might just hear some amazing tips that could enhance your knowledge as a property owner or buyer.
Acquiring your first home could be quite challenging due to multiple factors that needs to be considered. One of which is budget. Fortunately, there are affordable housing options in the market. So if you’re looking for either a condominium or house and lot, know that there is a choice you can have without breaking the bank.
Bria Homes, one of the leading affordable housing brands in the Philippines continues to grow and create developments around the country. The continuous expansion compelled the need for more real estate professionals that could help buyers find their dream home that is also within their budget.
Bria Homes has over fifty projects nationwide ranging from bungalow house and lots to walk-up condominiums. Placed strategically all over the Philippines, homeowners can enjoy the convenience of living in cities where job opportunities and economic growth is present. Consequently, Bria Homes’ properties poses great investment opportunities to homeowners for the long term.
Visit the official Bria Homes website and Facebook page and you might just find the right home or career for you!