EP04: Real Estate Broker vs Salesperson—Understanding the Differences

We all know that Brokers help people make one of the most important decisions in their lives—finding their ideal home. Brokers help them from locating a suitable property to negotiating on their behalf & finding the best mortgage rate. Ultimately, they are an invaluable asset to those looking to purchase a home. If this is your passion, Brokerage might be the field for you just like our host, Juvy, who spent 11 years in the industry as one.

In our final episode of featuring different kinds of Real Estate practitioners, find out the qualifications, scope of work & responsibilities of a Real Estate Broker. Juvy also discusses the roles & limitations of Salespersons and how it is different from Brokers. Tune in to this episode to learn more.

What you’ll learn in just 12 minutes from today’s episode:
– Learn the definition of Real Estate Broker & Salesperson as defined in R.A. 9646
– Qualifications for Real Estate Brokers & Salespersons: Education, Experience, Standards of Practice and Ethics, & Necessary background
– Know the Real Estate objectives that Brokers & Salespersons solve & provide expert insights about.

Topics Covered:
01:22 – Juvy shares about the profession she has the most experience with
02:40 – What is a Real Estate Broker?
01:58 – What is a Real Estate Salesperson?
03:22 – Legal qualifications for becoming a Philippine Real Estate Broker
04:05 – Requirements before a Salesperson can lawfully engage in Real Estate Services?
04:41 – Services Real Estate Brokers provide
07:47 – Limitations of Salespersons
09:58 – Penalties for Violating the rules & regulations of the Service Act
11:04 – Juvy shares a caveat & the importance of knowing the Service Act

“Kailangan maging maingat ang mga Real Estate Brokers sa pagpili ng kanilang 20 Salesperson na kanilang isu-supervise” — Juvy Garcia

“Napaka importante na malaman natin ang Service Act na ito...para hindi tayo ma-mislead kung ano ang dapat o karapatan natin bilang Real Estate Investor, buyer, and also as a public” — Juvy Garcia

“Buyers be aware. Alamin natin ang batas, ‘yun ang importante.” — Juvy Garcia

“When you invest, you are buying a day that you don’t have to work.” — Aya Laraya

Resources Mentioned:
Real Estate Service Act 2009, R.A. no. 9646
https://lawphil.net/statutes/repacts/ra2009/ra_9646_2009.html

Connect with Juvy Garcia
Email: [email protected]Facebook Page: https://www.facebook.com/TheFilipinoRealtorPodcastLinkedIn: https://www.linkedin.com/in/juvy-garcia-0aa679241/