Why Do You Need a Licensed Real Estate Broker?

licensed real estate broker in the philippinesAs a first time homebuyer, purchasing your very own property can be tricky. Finding all the information you need before getting a deal is crucial and takes so much effort to make it work.

Before we dig on that matter, let us define first the real estate broker. Take note we are talking about a registered real estate broker.

According to RA No. 9646 Section 3, real estate broker is a duly registered and licensed natural person who, for a professional fee, commission or other valuable consideration, acts 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 joint venture, or other similar transactions on real estate or any interest therein.

A real estate broker is armed with legal requirements such as: passing the government examination for brokers, NBI clearance, surety bond, and secures necessary certificates. Furthermore, he/she undergoes Continuing Professional Education, and is properly guided by Code of Ethics, as required by the Professional Regulation Commission (PRC).

Under the law, real estate salespersons shall be under direct supervision and accountability of a real estate broker. As such, they cannot by themselves be signatories to a written agreement involving a real estate transaction unless the real estate broker who has direct supervision and accountability over them is also a signatory thereto. (Source: IRR of Republic Act 9646)

There are lots of creepy incidents that homebuyers are being deceived, misled, or swindled by fraud real estate agents. To protect your investment and your future, make sure you are dealing with a licensed and registered real estate broker.

Enough with the definition, here are the reasons why you need a real estate broker.

  • Save you time and makes buying a property simple as possible
  • Provide prospective clients with all the information (pricing, sales prices, technical specifications of model units, and etc).
  • Helping buyers find the best home suited to their budget and lifestyle
  • Schedule a free tripping to clients to show the actual unit along with the features and amenities of the community.
  • Handles volume of paperwork as part of the closing process on behalf of clients.

 

 

[Photo credit: Philip Taylor PT]

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