If you are a licensed real estate broker or an accredited real estate salesperson, you know definitely know how challenging and rewarding this profession can be. You have the opportunity to help people find their dream homes, negotiate the best deals, and earn a substantial income. However, you also face a lot of competition, market fluctuations, and client expectations.
While traditional roles in the industry such as real estate sales and leasing continue to be important, there are many other opportunities for real estate brokers and salespersons to explore. As real estate service practitioners, brokers, and salespersons should always be on the lookout for ways to improve their business and achieve long-term success. So, how can you stand out from the crowd and achieve lasting success in this industry?
We have to level up. For accredited real estate salespersons, the level up is to become licensed real estate brokers. For the latter, but not exclusive for them, here are some ways to level up and take advantage of the many opportunities in the Philippines real estate industry beyond sales and leasing:
1. Property management: Real estate brokers and salespersons can expand their services to include property management. Property management involves the day-to-day operations of a property, including maintenance, rent collection, and tenant relations. With the increasing number of properties in the Philippines, there is a growing demand for property management services.
2. Be a licensed Real Estate Consultant: Of course, if you have the relevant experience as a real estate broker, you can review and take the licensure examination to become a licensed real estate consultant so provide you can provide a full range of consulting services to clients. Consulting services may include market analysis, feasibility studies, and financial analysis. These services are especially valuable to clients who are up-and-coming, as well as, seasoned real estate investors and developers.
3. Real estate development: Real estate brokers and salespersons can also become involved in real estate development. Real estate development involves the planning and construction of new properties. Real estate brokers and salespersons can use their knowledge of the market to identify opportunities for development and connect investors with developers. Better still if real estate brokers and/or salespersons can themselves be real estate developers… so long as they know all the pertinent regulatory laws and their rules and regulations.
4. Real estate finance: Real estate brokers and salespersons can also become involved in real estate finance. Real estate finance involves the financing of real estate projects, including mortgages, loans, and other forms of financing. Real estate brokers and salespersons can use their knowledge of the market to connect investors with lenders and other sources of financing. Better still if real estate brokers and/or salespersons can themselves be “hard money” lenders for real estate developers and/or real estate investors.
5. Real estate education: Real estate brokers and salespersons can also become involved in real estate education. Real estate education entails the training and development of real estate professionals. Real estate brokers and salespersons can share their knowledge and expertise with others by teaching courses or providing mentorship. It is up to the practitioner if they want to apply for accreditation as a “Speaker/Lecturer for Real Estate Training and Seminars, Continuing Professional Development (CPD) and Career Progression and Specialization (CPS) Programs” with the PRC-PRBRES.
To conclude, real estate brokers and salespersons in the Philippines have many opportunities to expand their services beyond traditional roles in the industry such as real estate sales and leasing. By exploring opportunities in property management, real estate consulting, real estate development, real estate finance, and real estate education, real estate brokers and sales agents can level up and take advantage of the many opportunities in the Philippines’ real estate industry.
Of course, it takes a lot of planning, and saving up financial resources in order to take the next step and level up to a more profitable career for those real estate service practitioners who are willing to brave it and step out of their comfort zone.
Image source: https://www.leveluprealtors.com/ [I love this website and it is a source of inspiration for me as a licensed real estate broker.]
Atty. Jojo is a real estate attorney, an estate planning attorney, a licensed real estate broker, and a PRC-accredited Lecturer/ Speaker for Training Programs in Real Estate. He is a Chartered Trust and Estate Planning (CTEP®) professional who is committed to educating Filipinos about the value and importance of having an estate plan in their lives.