Real estate bane continued by readers

My inbox was barraged with emails recently after our two columns last week.  I would like to take this chance to publish them to extend a bit further the discussion.

 Sir,

Your two columns titled “The bane in real estate agency practice” should serve as a wake up call to developers who only look after their own profit than the welfare of their agents. It remains a mystery to me why it takes a very long time for agents to receive their commission from the developers when we already have done our part. I hope all real estate groups would unite for the passage of the law you mentioned.

More power to your column!

Andrew Balansag

 Sir,

It’s difficult to trust developers nowadays. Even big developers do not keep their word. My experience with this big developer in 2009 is that they offered a very good incentive scheme to agents so that we would be motivated to sell their projects. In less than two months, all their inventories were sold but they gave only half of the incentives they promised. I did receive my incentives though but I have not received my full commission until now.

This developer is again inviting us to sell their project in SRP but sorry, we will not sell their projects anymore. Our brokerage has decided to ban this developer. What brokers and agents can do for now is to blacklist these developers who do not keep their word.  

 VF

 Chris,

Thank you for your column “The bane in real estate agency practice.”It gives us courage in the real estate practice that there are people who understand our plight. But I wished you also covered in your column selling properties for private persons. It is also very rampant nowadays where owners of properties do not give out full commission to their agent or broker even if they have signed a contract. Two years ago I sold an agricultural property in Cagayan de Oro. After the buyer has paid, the seller only gave me P10,000 out of my P85,000 net receivable commission from him. He promised me to pay the balance in a week but when I collected from him on the agreed day he was already avoiding me. I kept on following him up until he said straight to my face”just sue me.” I could not sue him as I did not have the money to hire a lawyer. I’m sure that there are brokers out there who went through the same experience but could not do anything since it is costly to get the matter to court.

Please let me know if there is a manifesto regarding the proposed law you cited in your column. I would like to help get signatures from our real estate organizations in Mindanao to support the said law. I would also be willing to send my suggestions to improve its provisions.

Thank you and more power to you and your column, Chris!

 Silverio P. Fulgoso

 Sir Chris,

Many developers are abusive because real estate organizations in Cebu do not mind about these problems. They only care about their seminars or real estate review centers. Brokers in Cebu also have this “kanya-kanya” attitude instead of uniting together to condemn developers that do not respect the profession. Let’s face it, there is an unhealthy rivalry that’s going on in the real estate practice in Cebu. The problems you mentioned will remain and the real estate agency protection law you proposed will not prosper if brokers and real estate organizations will not get their acts together.

 MAB

Send emails to [email protected]