Are you thinking of buying or selling a home? Are you looking for a trusted professional to help guide you through the process? If so, then a real estate agent is your best bet! In this blog post, we will explore the benefits of working with a real estate agent and provide tips on how to find the right one for your needs.
What is a Real Estate Agent?
A real estate agent is a licensed professional who helps buyers and sellers navigate the real estate market. They help clients find properties that meet their needs, negotiate contracts and provide guidance throughout the buying or selling process. Agents are knowledgeable about local markets and laws, ensuring clients receive the best advice when deciding to buy or sell a property. If you’re looking to purchase or sell a home, working with a real estate agent can be invaluable in helping you make informed decisions while avoiding any potential pitfalls.
What Does a Real Estate Agent Do?
A real estate agent is a licensed professional who helps people buy, sell, and rent properties. Agents guide market conditions and assist in negotiations to ensure their clients get the best deal possible. They also work to create promotional material to help market a property. Real estate agents are usually paid on commission, so they are vested in helping their clients succeed. An experienced real estate agent can be an invaluable asset when buying or selling a home.
How To Be a Real Estate Agent in The Philippines
Being a real estate agent in the Philippines is a great way to make money and help people find their dream homes. To become an agent, there are specific steps you must take.
First, you must be a Filipino citizen and have undergone training and seminars of at least 12 credit units in real estate brokerage. Must have completed at least two (2) years or 72 units of the college.
Must be of good moral character and not have been convicted of any crime involving moral turpitude; Must have undergone training and seminars of at least twelve (12) credit units in real estate brokerage.
- Original and Photocopy of NSO Certificate of Live Birth / Birth Certificate
- Original and Photocopy of NSO Marriage Certificate / Contract (For married females only)
- Original and Notarized Certificate of Educational Attainment on the Completion of at least two (2) years of college
- Original NBI Clearance
- Original and Notarized Certification of twelve (12) credit units on Real Estate Brokerage. (The Board released a memo on February 18, 2019, declaring that aspiring Real Estate Salespersons should attend a Real Estate Brokerage seminar for 12 hours as an entry requirement to be an Accredited Salesperson.
- Aside from this, all interested parties aspiring to be accredited Real Estate Salespersons must take a 12-unit/ 12-hour Real Estate Brokerage seminar with an Accredited Real Estate Brokerage Training Provider.)
- Photocopy of Broker’s PRC License with three signatures (the supervising Real Estate Broker’s PRC ID validity must not be less than six months upon application of salesperson’s application or renewal)
- Photocopy of Community Tax / Cedula
- Duly accomplished application form.
- Passport size photo on white background, with name tag below showing the complete name.
- Government Issued ID and any valid ID
Steps in filing application for accreditation as real estate agents or salesperson
1. Fill out the application form and required documents for pre-evaluation to the Application Division (4th Floor Annex Building) at the PRC Central Office and regional offices processing counters.
2. Go to the Legal Division (2nd Floor, Main Bldg) for notarization.
3. Proceed to the cashier for payment of the fee of P450.00 (Ground Floor, Main Building) at the Central Office or Cashier’s Window at the Regional Offices.
4. Proceed to the Customer Service Center for the documentary stamp. (Ground Floor, Annex Building) / designated counter at the Regional Offices.
5. Submit duly accomplished application form and requirements to the Application Division (4th Floor Annex Building) / designated counter at the Regional Offices.
6. Verify the status of the application at the PRC website: prc.gov.ph (news & event)
By following these steps, anyone can become a successful real estate agent in the Philippines Real Estate Industry!
How Much Do Real Estate Agents Make?
Real estate agents can make a great living helping people buy and sell properties. The amount they earn varies greatly depending on the number of transactions they complete and the property’s sale price. On average, real estate agents make between 4% and 6% of a property’s sale price in commission, which is typically divided between the brokerage and the agent. According to the U.S. Bureau of Labor Statistics, the median income for real estate agents and brokers was $48,770 annually in 2021. Agents who work 40 to 50 hours per week can expect to make around $113,054 on average, according to our survey data from 2022. Additionally, depending on the total value of the property, real estate agents can earn up to PhP 26,297 per transaction before beginning any new career. Therefore, if you’re considering becoming a real estate agent, it’s essential to understand how much you could earn before leaping!