Yesterday, 30 July 2017, should have been devoted for family and rest. It was the last day of a 2-day continuing professional development (CPD) seminar required by PRC for real estate professionals. Some other professionals like me will complain and whine about having to go through the seminars, giving it time and spending a few thousand pesos.
By law, real estate professionals are required to gain credit units until renewal time of the license. It is the same thing for other professions like doctors, lawyers architects etc. For real estate practitioners, 45 credit units, in three year’s time, is the magic number. I also happen to be a Certified Public Accountant (CPA) and the magic number is 120 credit units in three years. Wheeeww!
It should be nothing to complain about. I enjoy attending the seminars and spend a few hours and money. When I was reviewing my certificate of attendance, I have already accumulated, to-date, a total of 44 credit units for real estate. When I join the REBAP convention by the end of the year, I will have a total of 64! I am also attending the PICPA convention through which I can gain 80 credit units as explained by PICPA. So I will just need 40 by renewal time in August 2018.
Going back to the real estate (RE) seminar yesterday, the lecturer was Dr. Evangeline M. De Jesus. The topic was all about skills and competencies of an RE practitioner. It initially appeared to be a basic subject but I enjoyed the exercise part towards the end of the session where all participants will prepare their respective business plans. We were required to submit what we have written so I had to take a picture of what I had written as I took it so seriously.
I will just need to re-write here for me to remember. I did it not for the sake of submitting but rather, I owe it to myself.
Here it is:
Goal – Set up a sustainable general brokerage realty team.
I have recognized the fact that working alone in real estate is really a tough job! You can’t do it alone. That is why the law R.A.9646 or RESA specified that only real estate brokers can have maximum of 20 salespersons.
The idea is all about leveraging on other people’s time and effort to be able to deliver a good service to clients. Once the broker is successful at building the team and is like a well-oiled perpetual machinery, everything will just become like a passive income.
1. Focus on at least 20 direct property listings of at least Php20M each.
2. Clinch a sale with at least Php2M of broker’s fees within 3 months.
3. On month 3 get an office space, hire a secretary cum bookkeeper and 2 assistants who can do all around jobs as assisting clients, doing online postings and other items that will be achieving the overall goal of sustainability.
4. On month 6, slowly build a team to do project selling and define their focus.
It seems easier said than done. But can reasonably be done. This is better and easier than doing the software/IT business.
1. Advertise solicitation for direct listings meeting the criteria.
2. Secure necessary documents, pre-qualify and classify the properties.
3. Update ALL online postings.
4. Share listings with brokers wherever and whenever.
Whatever it takes, just go around these simple things! This will be for now and in the future a review of what has been written will be done compare it with actual. So my 3 months will start in August 2017 and end October 2017.