FAQs | PhilHome Philippines Real Estate – Buy and Sell Property Online Most asked questions.
What is Philippines Real Estate Broker?
Philippines Real Estate Broker Must obtain the following:
- Obtain A Bachelor of Science Degree in Real Estate Management
- Register with the Professional Regulation Commission (PRC)
- Take and Pass the Real Estate Licensure Examinations
- Register with the House Land Use Regulatory Board (HLURB)
- Find Companies and Prepare the Necessary Documents
- Broker can start their own Real Estate Broker Firm and hire Real Estate Agents below him that are connected to his License.
What is a Philippines Real Estate Agent?
The Real Estate Agent must possess these qualifications:
- Filipino citizen;
- Must have completed at least two (2) years or 72 units of college education;
- 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.
What is the difference between a Real Estate Broker and a Real Estate Sales Agent?
FAQs | PhilHome Philippines Real Estate – Buy and Sell Property Online – Under the Implementing Rules and Regulations of the Real Estate Service Act of the Philippines (RESA; Republic Act 9646), real estate service practitioners include Real Estate Salespersons, who are “duly accredited natural persons who perform service for, and in behalf of a real estate broker who is registered and licensed by the Professional Regulatory Board of Real Estate Service (PRB-RES) for or in expectation of a share in the commission, professional fee, compensation or other valuable consideration. The Real Estate Agent MUST work for a broker to sell ANY Real Estate in the Philippines. Real estate agent operating without a Broker is against the law. Operating with out certification is also against the law.
What is the standard commission asked by a Broker?
The standard commission for a Broker is 5%. Split between a Broker and a certified agent can vary but usually 3% Broker – 2% Agent. There is also referral fees that is given to people that bring a buyer to the broker but this may vary among Brokers. See PhilHome Referral Program
Can I list my House in PhilHome? What will it cost me? and what will PhilHome do for me?
Anyone can list their property in PhilHome. Simply contact us and tell us you wish to list your house. The cost to list is absolutely FREE! The Seller needs only to fill out a authority to sell form. Then, the Broker will come to your property to gather information, take property pictures and do a complete video walk Through. PhilHome will create a page for your property in PhilHome.com, announce in PhilHome Facebook and launch your video in Youtube. PhilHome will also advertise your property for FREE in other real estate sites in the Philippines.
What is the difference between signing up with PhilHome “EXCLUSIVELY” or “NON EXCLUSIVELY”?
Non-Exclusively means that PhilHome has a signed authority to sell with the standard 5% commission but other brokers can sell the property too. PhilHome will make a page for your property in PhilHome.com, post in PhilHome Facebook and post your video in our youtube.
Exclusively means that PhilHome has a signed authority to sell with the standard 5% commission but no other broker can sell the property. However, if another broker brings a buyer, PhilHome is entitled to 2.5% commission. PhilHome will make a page for your property in PhilHome.com, post in PhilHome Facebook and post your video in our youtube. PhilHome will advertise your property in many real estate sites for FREE and blog about your property on PhilHome News page and on Phihome Facebook. PhilHome will use its patent marketing strategies on promoting your property everywhere. This will increase your odds of selling your property drastically. Coverage is everything! PhilHome is willing to invest in selling your house for EXCLUSIVITY!
How do I know what my house is worth? What price do I sell my property?
Our Brokers are familiar with area prices and can evaluate the worth of your house so that you can achieve maximum value for your property. PhilHome will help in structuring your asking price.
How do I prevent people from seeing my house that are just dreaming or looking but are not buyers?
PhilHome shoots a walk through video of your house showing every aspect of your property. When a client inquires, Philhome immediately sends the walk through video of the sellers house to the buyer to determine the interest of the buyer. If after the buyer sees the video and still wants to see the house means that this is a “MOTIIVATED” buyer. If the buyer does not like the house after viewing the video just saves the seller from time being wasted in showing a house that a buyer is not interested in purchasing.
When buying a new home, what upgrades should we go for? What holds the most value? Do we upgrade the lot? Pick more square meters in the house? Add an extra bedroom?, etc.
A lot depends on why you are buying the house. Are you buying it mostly as a home or mostly as an investment? There is a difference.
For the most part, upgrades are high-profit items for builders. They aren’t designed to enhance the value of the house, but make you happier with the house you do buy.
If you are looking at your home as an investment, then you buy from the smaller to medium size in the tract and spend only a minimal amount on upgrades. If you are looking at your purchase as a home, then you select upgrades that will enhance your quality of living.
I have to make a choice between an updated home in an older neighborhood or a newer home in a more modern neighborhood. The home in the older neighborhood has almost everything I want and is much larger, but which makes the most sense as an investment?
If your goal is to buy a home for it’s resale value and the one you are thinking of buying in the older neighborhood is at the upper end of values for that neighborhood, then it may not be the wisest choice. If it is similar or lower in price to the others, then there should be no problem, because pricing should be considered in relation to the local neighborhood and not compared to homes in other neighborhoods (for the most part)
Plus, is it a neighborhood on the decline, or are others going to be fixing things up, too, so that it is a neighborhood that is improving? It could turn out to be a very good deal as long as you don’t “overpay” because of the recent improvements.
Remember that you also buy a home for it’s value to you as a “home,” and that is something else you should consider. Which neighborhood would you AND your family feel most comfortable in?
I have a family friend who is a Realtor. I like her and she is a help but she gives me one price to sell my home for and I think it is too low. So I called another agent who suggested a price more in line with my expectations. Who do I choose?
You might want to consult a couple more Realtors on the market value of your home. Most of the estimates should be in the same ballpark.
It could be that your friend is being more honest with you about the value of your home and the other Realtor gave you a higher number because he already knew you expected it. This is called “Buying a Listing” .
Or it could simply be that your friend is a good friend, but not that great of a real estate agent.
Mixing business and friendships is always risky to the friendship. On the other hand, if your friend is truly competent and was providing wise advice, she may be offended if you ignore the advice and choose another agent.
Why should I use a real estate salesperson?
A real estate salesperson is more than just a “sales person.” They act on your behalf as your agent, providing you with advice and guidance and doing a job – helping you buy or sell a home. PhilHome Broker will make sure that all your legal aspects of selling your home are legal and correct. PhilHome Broker will take care of all the paperwork’s, contracts and dealings with Philippines Government Agencies. While it is true they get paid for what they do, so do other professions that provide advice, guidance, and have a service to sell –such as Certified Public Accountants and Attorneys.
The Internet has opened up a world of information that wasn’t previously available to homebuyers and seller. The data on listings available for sale is almost current – but not quite. There are times when you need the most current information about what has sold or is for sale, and the only way to get that is with an broker.
If you’re selling a home, you gain access to the most buyers by being listed in the Multiple Listing Service. Only a licensed real estate agent who is a member of your local MLS can get you listed there – which then gets you automatically listed on some of the major real estate web sites. If you’re buying or selling a home, the MLS is your agent’s best tool.
However, the role of an agent has changed in the last couple of years. In the past, agents were the only way home buyers and sellers could access information. Now agents are evolving. Because today’s home buyers and sellers are so much better informed than in the past, expertise and ability are becoming more important.
However, in the Philippines there are scammers, false paperwork, incompetent Brokers and sales agents, unclean titles, Tax decs only and many other pitfalls that a broker can help when selling your house. PhilHome Broker will help you and work for you every step of the way!
FAQs | PhilHome Philippines Real Estate – Buy and Sell Property Online – Contact us today to list your property
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