Mastering the Balancing Act: A Guide to Part-Time Real Estate Brokerage Success in the Philippines

“The effort to work a small deal versus the bigger one is about the same. Focus your mindset on fewer, bigger, and better deals.”

– Atty. Ernesto C. Perez II, CTEP^TM Real Estate Attorney & Licensed Real Estate Broker

By Realttorney^®

I was an attorney first then a licensed real estate broker second. In terms of the practice in real estate service, I am more well-versed in the documentation side of the real estate transaction. My wife, who is also a licensed real estate broker, is the one who has experienced closing real estate sales transactions.

It is safe to say that my wife and I are part-time real estate brokers. Why? Because real estate brokerage is not our main source of income. Unlike the hundreds of licensed real estate brokers who actively practice the profession as their bread-and-butter income source. They are the backbone of this industry. Kudos to them.

And, in the dynamic landscape of the Philippine real estate industry, the role of a licensed real estate broker is pivotal. However, many licensed professionals find themselves constrained by the commitments of a full-time job in another field.

Balancing two professions is undeniably challenging but not insurmountable. This article aims to provide insightful pointers on how a licensed real estate broker can successfully work part-time in the Philippines, especially when juggling a full-time role in another profession.

Before delving into strategies, it’s imperative to address the regulatory framework governing real estate brokerage in the Philippines. If one wishes to be a part-time real estate broker in the Philippines, he or she should have an unexpired license. Hence, if your license is expired, then you cannot legally practice your part-time profession.

Even as a part-time real estate broker, adherence to ethical standards and regulatory compliance should never be compromised. Maintaining a deep understanding of the Real Estate Service Act (RESA) of 2009 and Resolution No. 39, Series of 2019 (Code of Ethics) ensures that brokers operate within legal parameters, thereby safeguarding their reputation and their level of professionalism.

Here are 5 important insights that will guide a part-time real estate broker to be successful in his or her second or third chosen profession.

Time Management and Prioritization

Effective time management is the linchpin of part-time real estate brokerage if success is the goal. Given that you have a full-time commitment to another profession, delineating clear boundaries and allocating specific hours for real estate activities is essential.

1. Set Clear Boundaries: Designate certain days or hours exclusively for real estate tasks. One or two days a week would be ideal. And, two to three hours a week could provide enough spark to keep your interest in this profession.

2. Leverage Technology: Utilize scheduling tools (Google or Apple Calendar), and communication platforms to streamline and automate your processes. Create systems that will assist you in getting your tasks done at the least amount of time necessary. There are various productivity and note-taking web applications to help you plan and organize your activities under a single platform.

3. Delegate When Necessary: Consider hiring or partnering with assistants for tasks that don’t require your direct involvement. If you have a personal assistant, who works with you on your full-time profession then it is best that you inform him or her of the “extra” work that he or she will perform for you as a licensed real estate broker. The best practice is if you close a transaction then your assistant gets rewarded for the valuable assistance extended to you.

Niche Specialization

One of the most effective strategies for part-time brokers is to specialize in a particular niche within the real estate market. The Professional Regulatory Board for Real Estate Service (PRBRES) has announced that they are encouraging all licensed real estate brokers to specialize in three major areas.

First, is General Brokerage, Titling, and Documentation. Second, is Residential Project Selling. And lastly, Foreclosed Properties. Despite these three areas of specialization, there are still several niches that you can focus your attention on. These could range from residential properties in specific locations to commercial real estate or even niche markets like farm lot developments and agricultural real estate, industrial development projects, or memorial lot projects.

Never be a jack of all trades and be a master of none. Pick a niche to specialize in. Specializing allows you to:

1. Build Expertise: Deep dive into market trends, pricing strategies, and client preferences within your chosen niche. Your expertise will allow you to do fewer, better but bigger valued deals. Be the go-to broker in your chosen field of specialization.

2. Network Efficiently: Focus your networking efforts on industry events, seminars, and groups relevant to your specialization. It makes sense to focus your time and energy on a particular segment of the real estate industry. If you focus enough time and effort on a particular segment then you will be recognized as a thought leader for that chosen segment of yours.

3. Maximize ROI: With targeted marketing and a specialized client base, you can achieve higher returns on your time and investment. If you will not be able to focus 100% on real estate, then if you do work on a deal make it worth your while.

Collaborative and Synergistic Partnerships

Collaboration can be a game-changer for part-time real estate brokers. By forging strategic partnerships with full-time brokers or real estate agencies, you can tap into their resources, listings, and client base. Just make sure that the partnership you are entering into is synergistic for both parties involved. It must be the right fit.

This can be done through the following:

1. Referral Agreements: Establish referral agreements where you can refer clients to other brokers in exchange for a commission split or a referral fee. There is no hard-and-fast rule about this. Just make sure that when you request for a commission split then you will contribute more effort to the transaction than just merely referring a prospective buyer or seller outside your chosen niche.

2. Team Up for Listings: Partner with other brokers to co-list properties, thereby expanding your reach without overextending yourself. We suggest that the real properties that will be co-listed belong to the category of your chosen niche but outside your area of operation. As a part-time real estate broker it is best to concentrate on a specific area of operation or concern like the CALABARZON area, or different regions in the Philippines.

3. Shared Resources: Utilize shared office spaces, administrative support, and marketing resources to enhance your part-time operations. This is how you create leverage in your part-time profession. But be smart about this. Study sharing resources assiduously. If not, this can be a drain on your financial resources.

Continuous Learning and Professional Development

The real estate landscape is ever-evolving, influenced by economic factors, regulatory changes, and technological advancements. As a part-time real estate broker, investing in continuous learning is non-negotiable. Moreover, our Code of Ethics requires us to be life-long learners.

As part-timers, you should commit to the following:

1. Attend Seminars and Workshops: Stay abreast of industry trends, legal updates, and best practices by attending PRC-accredited continuing professional development (CPD) seminars.

2. Engage in Online Courses: Leverage online platforms offering courses on real estate brokerage, property valuation, and market analysis, even though they are not accredited CPD seminars. There are a few experts in real estate who are not accredited by the PRC to teach real estate topics. But this should not stop you from enrolling in said courses to increase your knowledge base.

3. Join Professional Organizations: Become a member of reputable real estate organizations like the Real Estate Brokers Association of the Philippines (REBAP) to access resources, networking opportunities, and mentorship programs of some chapters like the REBAP Metro Tagaytay Chapter.

Marketing and Branding

Finally, building a robust personal brand is crucial for part-time brokers to establish credibility and attract clients. But this matter goes hand in hand with effective time management and prioritization of activities.

The part-time real estate broker must first and foremost have a simple marking plan to set clear goals on how to deploy various marketing strategies available with the help of the latest technology like ChatGPT. Effective marketing strategies include:

1. Content Marketing: The part-time real estate broker can share insights, market analyses, and tips through his or her blogs, videos, or podcasts. Think about creating a YouTube channel even as a part-timer. This could be a potent avenue for engagement and establishing yourself as a niche player in your segment.

2. Social Media Presence: Maintain an active presence on professional platforms like LinkedIn, Facebook, Instagram and/or TikTok. For starters, post once a week on all these social media applications. Then when you get a hang of things, you may want to increase the frequency of your posts from 2 to 5 posts three or four times a week. Finally, when your time allows it, you may want to create ads in each social media application to reach more potential clients within your niche.

3. Client Testimonials: Showcase testimonials from satisfied clients to build trust and credibility. Even as a part-time real estate broker, this strategy will work because it gives social validation on what type of professional you are to work with and the level of service you provide.

In conclusion, navigating the realm of part-time real estate brokerage in the Philippines necessitates a strategic approach encompassing time management skills, niche specialization, collaborative partnerships, continuous learning, and effective marketing. By implementing these pointers, licensed real estate brokers can not only successfully balance a part-time brokerage role with a full-time profession but also thrive in the competitive Philippine real estate landscape.

Tell me, what is your full-time profession? And is this article a valuable resource for you in the upcoming year? Let us have a conversation.

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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 committed to helping new and veteran real estate service practitioners be well-informed of the latest laws, rules, regulations, and information relevant to the real estate service sector.