BUYING A PROPERTY?
HOW TO HANDLE MULTIPLE REAL ESTATE BROKERS
By: Chona
Esguerra
In our last article, we discussed handling of
brokers for the sellers. This time let me share with you the guidelines for the
buyers. Please note that this was done in collaboration
with some veteran brokers who are reputable for being fair and just.
QUALIFY BROKERS.
Don’t just accept when somebody says they are a broker. Ask for their PRC ID or
get their PRC No. and full name and check them at the PRC website (www.prc.gov.ph). This is for your protection as PRC has their
full name, photos, address and number. Being PRC registered protects you should
there be a problem with the said broker later on. It is a law requirement that
brokers be licensed and registered with PRC as there are penalties involved
otherwise as mentioned in my earlier articles. Just remember a true licensed real estate
broker wouldn’t be offended or be defensive should they be asked for their PRC
ID. Should they claim to be under a certain broker, they should still have a
PRC ID as accredited agent. Otherwise, you are dealing with a colorum.
Heard stories of a buyer
trusting somebody who claims to be a broker. Since she is a first time home
buyer, she trusted this so called broker, gave the payment for a
property and never saw that person again. Buyer beware!
PROPERTY
SHOWN INSIDE. Accept the property listing only from
brokers who were able bring you inside the property. Viewing from outside is
not counted until they show the inside. Note who showed it first to avoid
duplication.
SAME
PROPERTY. If you saw the same property earlier
thru another broker, inform the current broker showing it. Do not give the
exact address to the broker what you saw earlier as a sign of respect to the
other broker who showed it first. Street Name will be fine if required to.
PROPERTY
ONLINE.
If you saw a particular property online from a broker, get it from the
online broker as they worked hard in posting this online. Make arrangement to
view. Ask the online broker to viber or
email you the front view of the house to make sure you won’t accept viewing of
the same property from another broker during tripping even if they brought you there
first. If there is no front photos shared, then that is the risk the online
broker has to take should another broker brought you inside the same property.
OFFER ON
THE PROPERTY. Only make the formal offer to the
broker who showed you the property first even if you decide to make an offer to
the property one year later. Give the broker the courtesy to ask if this
property is still available at such a price. Never go straight to the owner if
there are people who worked hard in showing you this property. Respect and
courtesy are important in this business as it gives good karma.
BROKER’S
TRUST. If a broker gives you their full trust
with regards to the name of the owner, contact number and full property
details, please return that trust by going back to that broker as a sign of
respect and courtesy.
MAKING PAYMENT - It is the broker’s job to do due
diligence on the property you are interested in before making payment. This means the broker has to get documents
from owner, verify it with the Register of Deeds and furnish you a copy. After
checking if the documents are in order, you can now proceed with the payment.
Do you want
a stress-free and smooth transaction for your property? Strictly practice these
guidelines and you will have a conflict free transaction. Whenever you are in a
situation and you don’t know what to do, always ask yourself what is the right
thing to do and you will get the correct one.
Just be honest.
CHONA
ESGUERRA is a licensed real estate
broker with vast experience in the field.
She is a member of PAREB – Muntinlupa Real Estate Board. A village
resident. Her email: chonae2004@yahoo.com