Tips on How to Succeed as New Real Estate Agents
7 March 2023With the fast-paced trends in search engine optimization and continuous efforts to upgrade our economy, digital marketers and real estate property consultants are now considered some of the most promising careers to take this 2023. However, pursuing these career paths can be taxing and time-consuming. It requires a degree, years of experience, as well as certifications for you to compete and succeed in these paths. But if you still want to pursue the real estate career path without taking the winding road then being a real estate agent first might do the trick.
Real Estate Agents: Job Description and License Requirements
Real estate agent helps clients buy, rent, and sell properties like a house and lot in the Philippines. They advise clients on market conditions, conduct walkthroughs, and help with buying, selling, and leasing their property as an investment.
Real Estate Agent vs Real Estate Broker
A licensed agent is a professional who helps clients purchase and sell real estate properties. When a deal is completed, the agent receives a commission, and the agent may represent both the buyer and the seller. Nevertheless, a real estate broker does the same job as an agent, except that they are licensed to work independently, open a real estate business, and recruit real estate agents. Brokers are paid on commission, but they also get a small percentage of the commissions of the agents who work for them.
Ways to Become a Licensed Real Estate Agent
There are several seminars that are held by real estate firms or developers for those who want to acquire a real estate license. A law signed in 2009 called Republic Act No. 9646, also called the Real Estate Service Act (RESA), aims to professionalize the real estate service industry in the country. As well as "enhancing government income" through taxation, this act ensures that all practitioners are registered and licensed. So if you're interested to be a licensed salesperson, you must meet the following requirements:
1. The first step is to find a licensed real estate broker. It is a legal requirement that a real estate agent must transact only with the guidance of at the minimum one licensed real estate broker. Make sure that you find an active real estate brokerage or a licensed broker that you can trust and that provides great opportunity, support, and training.
2. Next is to attend a real estate seminar. Here, you will gain a wide variety of topics and learning opportunities that will help you gain valuable insight into the real estate industry. You will receive a form that needs to be filled out and signed by your broker. For each seminar you attend, you can also earn a certificate and you must earn at least 12 hours of continuing professional development or CPD.
3. Lastly, go to Philippine Regulatory Commission (PRC) to get an ID. Here are the requirements you'll need.
- NSO Birth Certificate (original and 1 photocopy)
- Marriage certificate for a married female person (original and 1 photocopy)
- Transcript of Records that has a label for PRC Licensed (original and notarized)
- NBI clearance (valid and original)
- Certificate of 12 CPD units on real estate brokerage (original and notarized)
Aside from submitting all the listed requirements, you will also need to pay fees ranging from Php 800 to Php 2,000.
How Top Real Estate Agents Close a Deal
Now that you know all of the prerequisites for being a new real estate agent, this part will now help you become one of the best real estate agents among the many agents in your area. Here are some tips on how to close a deal like a top real estate agent and ace your competitors.
1. The Yes or Yes Technique
Give your potential buyers multiple options to choose from when presenting an offer during negotiations. This gives them a sense of control over the process, despite the fact that all of their options ultimately lead to the same result. This method keeps clients satisfied and empowered, even though their options are actually limited by your parameters.
2. The "Limited Time Only" Push
Some home buyers need a gentle prod to finalize their decisions and putting a time limit on your offer can give them exactly that. It creates a sense of urgency thus convincing the buyer that they must act quickly or risk losing out. Use the current real estate market to your advantage, such as reporting falling home prices or rising interest rates as incentives to act quickly.
3. A Time to Think
Assess and if you think the earlier advice won't work on your potential buyers, don't push it. If they are hesitant to sign the contract, ease the pressure a little to give them time to think. Giving them a short period of time to think about the deal before making a decision build trust and makes you appear generous in granting them this extra time. But keep in mind that you need to be clear about the time you're giving so they will still feel motivated to make a decision.
4. Justify Your Offer
Be open and honest with your clients about all of the finer points of the deal to give them a clear picture of what they're investing in and to establish trust. By fully disclosing all information about the buying process and the deal, you will come across as sincere and professional. Tell the buyer about all of the costs, the condition of the property, and so on, to give them the impression that they have the upper hand. By putting the ball in the buyer's court, they will be motivated to follow your expert advice and believe that your offer is genuine.
Lumina Homes is Recruiting Real Estate Agents!
Lumina Homes is in need of great real estate agents with skills in sales and marketing. We are recruiting talented real estate agents that can uphold our value proposition, promote our company brand, and celebrate our company culture. It is a full-time job with high demand and expectations so we prefer younger agents who are creative and eager to learn rather than passive job seekers who jump to other companies due to the smallest issues. We are looking for prospective agents who will not only sell our affordable house and lot but those with a strong sense of commitment, skills in networking, knowledge of the niche, and expertise in creating a good relationship with our new clients.
Successful agents who will pass our real estate recruiting process will get to enjoy awesome benefits and commission structures as well as attend networking events to meet other real estate agents and market leaders.
Ready to market our affordable house and lot for sale in your location? We start recruiting agents real soon so check out new announcements and our whole recruitment process on our website and official social media accounts. New agents and experienced agents are encouraged to apply.
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