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How to start-up a realty office Many Brokers requested me to conduct a personalized tutorial on how to set-up an office in compliance to Section 33 of the Philippine Republic Act 9646. I have become too busy I can no longer accommodate to coordinate a lecture schedule.

To remedy my shortcomings and in the interest of public service, I have instead decided to publish this Blog containing a checklist of setting up a private real estate broker's office. This is my documentation based on experience. This article will have two parts. The second part or continuation is entitled Tax Guide for Real Estate Professionals .

Any Broker who is into independent private practice must have an office (principal place of business). Any brokerage office must have a licensed broker. Remember, business transactions can be done anywhere, but all broker must have an office address where customers and government authorities can find just in case they will check the existence, business registration, facilities, and files of the real estate broker.

The initial set-up cost of a fully equipped office is around P300T-P500T. The operating cost is around P250T a year plus salaries expense. You can earn more than these usual costs if you have efficient marketing machinery. It is also important that you support the advocacy for strict implementation of RA 9646 so we can have level playing field among the professional players in the real estate service sector. To ensure that your office will become prosperous, another advocacy that you also have to support is our Platform for AIPORESP.

Elements inside a Broker's Office

Lastly, you have to build your own reputation by deciding as to what type of real estate agent would you want to be! Your choices are:

For Info: Membership to the Integrated Professional Organization of Real Estate Service Practitioners (IPORESP) is AUTOMATIC and FREE for all real estate service agent, salesperson, broker, appraiser, assessor, or consultant in the Philippines. It does not matter whether you have an organization or none, you can join IPORESP. All you have to do is complete the online IPORESP Integration Form in the IPORESP website -- it only takes 2 minutes to compete the form. The photo below is my official place of business. My sole proprietorship company name is REIBS.COM Real Estate iNformation and Broker Services. My business name is registered with DTI and I have my own official receipt. This picture is a day in a life of an Exclusive Buyer Agent (EBA) in the Philippines. As an EBA, I don't have problem with finding buyers. My problem is finding properties that match the specification of buyers, that is why I send out communication to a broader audience to request for proposals from sellers. Office work involves conducting due diligence on proposals before presenting the clean ones to the ready Buyer. HIGHLY RECOMMENDED cross reference: I blogged a discussion on Place of Business of salespersons and brokers at http://petalcorin.blogspot.com/2011/05/q-about-salespersons-and-brokers.html
BLOG AUTHOR: Rltr. John R. Petalcorin BLOG DATE: 10/14/2009 LABELS: Business Tips


