ONE of the most important components of both buying and selling properties and/or a house is dealing with a real estate broker and/or a real estate agent. A real estate broker or an agent makes the transaction process easier since it is responsible for a number of different processes.
The real estate broker with its real estate sales persons are instrumental in making either the selling process or buying process efficient and smooth, as they will guide you throughout the process in the best of their abilities.
But how legit is legit? How legit are the listings on housing sites? How would the people know if the property they would like to buy is really for sale? How would they able to spot a fake real estate broker or a real estate agent?
Engineer Arnold Opsimar, a licensed real estate broker, appraiser and consultant; and unit head of the Appraisal and Investigation Unit of the Metrobank-Davao, said people should know that a real estate profession is composed of a real estate broker, a real estate appraiser and a real estate consultant.
"Now, if we're going to talk about real estate agents or what we called the real estate sales persons, one must understand that these are the people who practiced buying and selling properties without a license. But every agents should be working with a licensed broker," Opsimar said.
As a client, Opsimar said, one must have to look for a licensed real estate broker. He added that if the client is dealing with a sales person, s/he can asked the latter whether s/he is working with a licensed broker and asked for further details and supporting documents.
"If for some reason the client is hesitant to ask for the details and supporting documents, he or she could go anytime to the Professional Regulation Commission (PRC) or visit their website just to inquire whether the name of the real estate broker or the practitioner is on their list," Opsimar said.
Opsimar said a client would determine a professional real estate broker and an accredited real estate sales person when the latter presents his or her identification (ID) card, credentials and other supporting documents that proves legality, during their first transaction.
Aside from the credentials and supporting documents, Opsimar said, a client will able to spot a fake real estate broker and real estate sales person if he or she asks you first to fill out an application before you even see the property. He added that such move is a red flag.
Other than that, one would know if it is a fake real estate broker and real estate sales person, if they are unable to meet in person because they go on travels all the time, if the numbers do not add up, if there is a sense of urgency, and the photos they are presenting look fishy.
For those who are looking to buy properties, Opsimar said, a professional real estate broker and its real estate agent is responsible and is given the impression of the type of home that their clients are interested in.
"A real estate agent will provide you with listings of available homes that fit your criteria. And a real estate broker is responsible for setting up house showings and will provide a fair and balanced assessment of the house based on their extensive real estate knowledge," Opsimar said.
Opsimar said the role of a professional real estate broker in the real estate process is to create a stress-free environment for their client.