To become a real estate broker in the Philippines, you first need to be licensed. In order to be competitive in the business, you need to be updated with the current laws, trends, and the buy and sell process; be visible online and offline; make sure your property listings are up-to-date; have dedication and integrity; develop cultural competence; and be sociable.
Becoming a licensed real estate broker is a challenge, but to be a competitive broker is even more challenging. What does a real estate broker do? How do you become a broker? Finally, How do you stand out in the very competitive real estate industry?
What is a real estate broker
A real estate broker is an individual or a firm that processes an offer, advertisement, list, promotion, mediation, and negotiation of real estate businesses such as sale, purchase, lease, exchange, and joint venture of real estate properties.
Brokers are professionals who have passed all qualifications required by law to manage various real estate transactions.
How do you become a broker
Not everyone can become a real estate broker in the Philippines. There are some requirements you need to comply with in order to become licensed.
To become a real estate broker, follow these updated steps:
- Submit an application to PRC (Professional Regulation Commission (PRC) with the following requirements:
- Degree in Bachelor of Science in Real Estate Management (BS REM) in an accredited school
- Certificate of Good Moral Character
- Completed application form.
- Take the Real estate broker exam once the application has been approved by the PRC.
- After successfully passing the exam, submit the following documents to PRC:
- BS REM diploma
- Original and photocopy Transcript of records -TOR (original and photocopy)
- Birth certificate or valid passport (original and photocopy)
- NSO Marriage Certificate for married women (original and photocopy)
- NBI clearance (original and photocopy)
- Community Tax Certificate (CTC or Cedula)
- 4 pieces passport-sized pictures (colored with full name tag)
How do you become a competitive real estate broker
In the lucrative real estate business, it is not enough to be a licensed real estate broker. You need to competitive in order to stand out and be preferred in your area. Here are some tips you can consider:
- Stay updated with the current laws, trends, and the buy and sell process. Being updated can help you serve your clients well. It can help you make the processing of any transaction smoother and easier. When satisfied with your service, your client can recommend you to other potential clients and come back to you for their future transactions.
- Be visible online and offline. Now that many people are actively online, make sure you are also present online. You can create social media accounts, post your listings in local marketplaces, and make a website to promote your business. However, do not forget that people to be also present offline. Make sure you attend local real estate gatherings and keep your calling card handy. You may also want to write for local magazines or newspapers regarding real estate concerns for publicity.
- Make sure your property listings are up-to-date. Stay ahead of the competition by always updating your property listing. Also, there is nothing more annoying for potential clients than finding your listing outdated.
- Have dedication and integrity. Integrity is a very critical virtue to have in the real estate business. Do not just work for the commission or pay. Remember to always serve your clients with dedication, honesty, transparency, appropriateness, and decorum so you can gain trust, credibility, and more satisfied clients.
- Develop cultural competence. This might be something new to you, but you need to be culturally intelligent in order to cope with the changing real estate industry. More foreigners and culturally diverse people are investing in the Philippines, which makes this a very important skill to develop. You may take cultural courses for young adults to develop cultural intelligence.
- Be sociable. People skills are as important as your knowledge and expertise in the real estate industry. As a broker, you need to be sociable since you are in a business that deals mostly with interacting with people.
With these tips, we hope you just don’t become a licensed real estate broker in the Philippines, but a competitive and successful one in the future.