FAQs – Acknowledging Registration of Clients

FAQ pr 2

REGISTRATION OF CLIENTS :

What is the proper way of “Acknowledging” Registration of Clients ?

This has been an issue with several property owners / administrators / banks and even ourselves when we were selling our property sometime ago.  It has been a standard procedure for some experienced brokers / agents / sales person to register their “Client” immediately upon getting a certain property even without showing the property.

The proper and ethical way of acknowledging which broker / agent / sales person to “HONOR”, is to prioritize the “ONE WHICH SHOWS THE PROPERTY FIRST” and “HAS A SIGNED ACKNOWLEDGMENT”  from the Client that they’ve viewed the property from the “BROKER / AGENT, SALES PERSON.

This simply eliminates any doubt on WHO and WHICH broker / agent / sales person TO ACKNOWLEDGE.

Lately, due to the volatile pricing in the real estate market, it has been a necessity by DEVELOPERS / INVESTORS to ask the “broker” to get an AUTHORITY TO SELL from the property owner to avoid any sudden changes in the status of the property such as pull out or increase in price.

Take note the RESA Law mandates that “ONLY LICENSED BROKERS” are allowed by the law to transact Real Estate deals, other than that, we call these people “COLLORUM Brokers / Agents and pretty soon ( hopefully sooner than later ), the RESA Law will be implemented which would penalized not only these unlicensed or more known as “COLORUM” Brokers / Agents but Property Owners themselves for dealing with them.   I’ve used agents and sales person on my terminology on the assumption that both are under a Licensed Broker and have been given the required sales person license.

Hope this helps and clarifies this important matter to avoid any unnecessary misunderstanding.

Have a great day and wishing all a nice weekend.

robert

Robert G. Sarmiento Properties
Professional Affiliation :
Real Estate Broker’s Association of the Philippines
President, Greenhills Chapter 2008-2009
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