The real estate broker today, is faced with several challenges and issues. These are the pains of a rewarding career and profession. It is a service that I love doing. I find it so fulfilling and the gains are much more than just material benefits, income or profits. Several times, the real estate broker finds joy in friendships made; relations that grows in time , and even more often than not; gets ” involved” or “part-off” some of the most personal situations of the buyer or seller. This is true especially in the Philippines, whereby we are usually personable, caring, and serving “above the call of duty”.
One of the Acronyms we can use to guide us to professional prestige in Real Estate Brokerage is S.U.C.E.S.S. – these letters mean the ff:
This is the very essence of our profession. An intrinsic mindset of going out of one’s way to answer and supply the needs of a client. A sense of service demands from one to forget oneself and be available to help the clients. In the real estate profession, clients tend to be very demanding, and one must learn how to balance in serving the needs of a client without neglecting family life and other personal needs, like rest, recreation and sports. This will lead us to the next requirement which is Unity.
Unity is oneness in what one thinks, feels, says and acts. Unity of life requires consistency of moral principles, virtues, and one’s actions. In real estate brokerage, one needs to “walk-the-talk”. It is a requirement and prerequisite for having integrity, responsibility and Honesty. However, this requires a strong sense of commitment.
Commitment, like unity of life, demands from the real estate broker to give his/her full attention in the practice of real estate brokerage. Commitment is to stay focus in one’s vision and mission in life. Commitment is rooted on truth; it is the “palabra de honor”; it is doing what one’s says and delivering to the client one’s promises. It is fulfilling once Oath. All these can be the reason to be happy, cheerful and brings joy in life. This can be achieve only if a professional is committed to one’s tasks and clients expectations.
There is no true virtue without cheerfulness. This is the best way to attract clients and live a happy life. A simple smile can bringing confidence and friendship in our work. We shall be making our service attractive to others, because ‘God loves a cheerful giver’. We are professionals but also ordinary people, with hearts that ” overflow with the joy that comes when we set out to fulfill, with the constant help of grace, the will of the Father” ( Saint Josemaria Escriva) … ” “Christians don’t see themselves as victims, underrated, or restricted in their behavior. They walk head on high, because they are men and children of God” Therefore, a real estate broker needs To be cheerful. Smiling at the right moment, makes a good impression. The client, if happy with your quality work, will give you , more referrals and sales.
A professional needs to aspire to have a good reputation. To be of outstanding prestige, and strives to be better than the best. It is contrary to mediocrity and laziness; rather a successful real estate broker always looks for better ways and means to be perfect in one’s profession and this requires a good sense of order and use of time.
S- Schedule and Use of Time
Time is the most important resource that a real estate broker has. It is more valuable than money. Because to lose time or to “kill” time is lost. One that looses time , may never recovered it, while lost money can be recovered after a loss. Since time is a precious commodity, it is good to budget it. Using time well requires schedule to have a balanced life and allocate proper time for personal needs such as sleep, exercise, meals with the Family and rest. Time spent with the family is essential for a happy and harmonious life. However, we have to face the reality that our clients demand time, and time used well will give us best results as they say, “it’s not just working hard but working smart” – with a sense of responsibility. We need to use time well, because we never know when it will end.. or, when its ” time over”.
S- Social Responsibility
A real estate broker must avoid at all means, bad habits that could destroy one’s good name or reputation. One of the means to build up personal responsibility, is to serve others. One needs to avoid falling into pride, greed, hedonism and a materialistic mentality. To Stuggle against vices, is to get out from one’s self indulgence, but rather think, and do charitable acts for the needs of the less fortunate. Having social responsibility means, to be just, fair and to share one’s time, wealth and resources to the poor, sick, persons with disabilities, marginalized and the homeless. Real estate brokers who know how to share often are blessed and gain more from giving.
On the other hand, Dr. Kirby Salvador, in her outstanding SUCCESS in Real Estate Brokerage, shares with us her own acronym, that of WRECK.
Wise Spender , Responsible , Ethical , Competent , Knowledgeable (WRECK)
By: Dr. Kirby Salvador
WRECK means destruction, but for me it means Wise spender, Responsible, Ethical, Competent and Knowledgeable. A formula I personally use as my key to SUCCESS as a Real Estate Service Practitioner. I hope it works for others too.
Be a wise spender. Create a Budgeting Plan, look for good deals. Management of one’s money is the most essential factor in every adult’s life. Do you have an” Emergency Fund” for yourself or for your family?
Do not live beyond your means. Identify your needs and differentiate them from what you want. Go for Quality and Durability. Stick to your budget and spending limit. Plan ahead. Make a list to avoid last minute decisions because you end up spending more. Implement willpower and discipline to keep you on top of your finances.
As a licensed Real Estate Broker, I know what and where to Invest. I do not rely on other people. I observe, research / make the necessary due diligence and gut feel.
Responsibility is to have an obligation towards others in society. For every word we utter, for every action we make, we are and should be responsible. Its quality of working life, a character wherein one acts without Guidance or Supervision yet he is accountable and answerable for his behavior.
We have the so called Continuous Education Program (CPE). I strongly commend that we put emphasis on subjects related to our practice that will enhance our skills and to be globally competitive. Do not waste your time on contest like “Popular Lady Realtor ” wherein your basis of winning is whoever gets to sell the most number of raffle tickets will be proclaimed winner. The criteria should depend on her performances related to sales, broker-client relationship and co-practitioners. We are professionals so we have to act and be like one.
For every property we offer to our prospective buyer, make sure you have an Authority to Sell. I have personally encountered a lot of offers from co-brokers who have No Authority to Sell and works with a group of all colorum sales agents. Worst of all was this brokers, will post pictures of properties of sellers on Facebook without permission and Authority to Sell.
I called his attention, and his response to me was he is not aware that one should have an Authority to Sell, before offering to clients. Shocking isn’t it? He wasted 20k for his CPE review but did not learn the need for an Authority to Sell. Due to his Ignorance, and if I may say, stupidity. I wrote PRBRES , Chairman Eduardo Ong regarding this matter.
Another unforgettable and unforgivable experience I had was with a young male Chinese broker who works in a real estate company. He sent via email the details of a property that he is selling and only to find out that he is not direct nor has he seen the property. His full description of the property for sale, was make believe.
Ethics is also known as Moral Integrity. This involves doing right and the practice of virtues. It is a choice between good and evil. Sad to say, a large percentage of our brokers are unethical. A personal friend of mine, who happens to be a developer has his own network of real estate brokers with issues of moral integrity. On a recorded video, he saw his lady broker engaged in immoral acts with a foreign client after receiving the down payment of a condominium unit she sold.
There are brokers, who go to the extent of printing fake receipts, also, re-offering properties that were sold, forging signatures of seller to be able to collect down payment in behalf of a co-owner and seller. These are all facts that I have personally experienced. Please take note.
Competent, are we sufficiently qualified? Capable? Efficient? When we are competent we earn the trust and confidence of our clients. Some co-brokers of mine say that I am meticulous, and yes, because it is a matter of principle.
Knowledgeable, we have to be acquainted, experienced and conversant. This can be achieved through reading, attending seminars, accumulation of facts, information and skills. I pay special attention to taxation. Are you aware that taxes can make or break a sale? In fact, it is now a major factor to consider in every real estate transaction.
So much have been said and shared, above all, we should not forget to Pray for Guidance and Wisdom in our everyday life. Thank you.
The end of the day, the bottom line, whether it is SUCCESS or WRECK, real estate broker, to have professional prestige and a fulfilled and meaningful life needs to uphold the Code of Ethics and practice the standards of one’s profession in an exemplary way, in this way, we can be globally competitive and acceptable with international standards, able and ready for the ASEAN Integration.