As the outlook on the Philippine real estate industry is bright and will continue to be in the next 10 years, it is no wonder why people are flocking to be real estate brokers, agents, and dealers.
Real estate brokers and agents help clients buy, sell, lease out, or rent properties. As a licensed real estate broker, you receive payment, a sales commission, for successfully providing a match to your clients’ needs. Real estate owners pay you to find buyers. When a sale is finalized, you get your commission – sales commissions can range up to millions.
Here are 5 reasons why the real estate broker is considered a high-end profession:
1. Not only a profession but also a businessYou can get into this line of work both as a career and as a business. By becoming a real estate broker, you virtually start your own business. The good news is that this business has a very low cost – the cost of your license exam that is administered by the Professional Regulatory Commission. Brokers are given licenses because you will be managing sales agents under you.
2. You manage your own timeAs most real estate brokers are self-employed or independent contractors, it means you are your own boss, but setting your own daily schedules does not mean you have more me time. More often than not, you will be working long and irregular hours. But the upside is that you will be working for yourself as you keep developing your client base and devising ways to market their properties.
3. You determine your earningsThere are no limits on your real estate business. Controlling how your business will grow is all up to you. Aside from your motivation to succeed, coupled with good business skills and an effective marketing plan, it’s all in your hands. And with the right attitude, a strong work ethic, you can be well rewarded. When you hit the proverbial jackpot, in a single transaction, you can earn millions.
As a broker, having agents under you also means you get a share on their sales commission. With more agents under you, there is more earning potential.
4. The greater exposure, the betterAs you will always be looking for ways to re-brand yourself reminding people that you are the real estate broker they should be tapping when they’re thinking of real estate, you will be meeting and mingling people from all walks of life. Knowing and being known is critical. You will be creating opportunities for you and your team and you will be rubbing elbows with the in-crowd as most real estate owners or those keen on buying are a sophisticated and discerning lot. Working on premium luxury projects means interacting with people who are working at an extremely high-level market.
5. Earn while building RelationshipsAnother fun part is that your audience needs to associate your face and your business together. People will work with you because they trust you. In real estate, you are constantly building relationships. In closing that deal, and eventually getting that sales and commission, your reputation in the community is at work.
The way you keep up with your network greatly impacts your potential income. It is vital to follow up with recent customers, know how they are settling in. Send out emails, personalized notes and birthday cards. Use Facebook to maintain relationships. Dropping a note to old clients and asking how they are doing is a quiet gesture that would only take a minute or two, but can pay huge dividends in the long run. Each contact you make is valuable. When you lose a contact, you lose your prospects, potential leads, and potential customers.
Source: This article is contributed by Lecel, a Hoppler broker.