30% more brokers in Central Visayas

PROOF that the property sector in Central Visayas remains robust is the increasing number of real estate brokers and sales persons in the region, which grew by 30 percent year-on-year.

Data sourced from the Housing and Land Use Regulatory Board Central Visayas Region (HLURB CVR) show that there were 2,316 brokers and salespersons registered, as of Dec. 15, compared to last year’s 1,770.

HLURB CVR Director Francis Ordeniza, whose office covers both Central and Eastern Visayas, said the real estate practice in the region remains upbeat mainly due to the opportunities that the real estate industry presents to them.

For or condominiums alone, there were 3,829 new units from 20 projects granted a license to sell (LTS) by the HLURB this year.

The new inventory presents selling opportunities for brokers and real estate agents.

On top of that, HLURB granted LTS to 38 subdivision projects, this year which will be building an additional 7,563 houses.

A real estate broker is a person licensed to negotiate and arrange real estate transactions, including the writing of contracts for listing and purchasing homes, land and commercial properties.

A broker, who is licensed both with the Professional Regulatory Commission (PRC) and HLURB, is also authorized to hire real estate agents to work under the brokers’ supervision.

The Cebu Real Estate Boards Inc. (CEREB) has repeatedly urged the buying public to deal only with licensed real estate professionals.

Transacting with unlicensed ones would make it difficult for buyers to demand responsibility from fly-by-night agents, especially when purchase transcations encounter problems.