Local real estate players told to brace for ASEAN

CEBU, Philippines – While the bullish real estate sector gives more opportunities to Filipino real estate brokers and agents in the country, the free-mobility concept under the integrated ASEAN economy has, on the other hand, poses a threat to local players.

Because of this, Certified International Property (CIP) specialist and Land Asia Realty Development Corporation chairman Ricardo N. Inting is bent on establishing an educational and training arm to equip Filipino real estate brokers and agents to step up to global standards.

Inting, who has been practicing real estate brokerage in the United States, recently came home to Cebu to personally manage his 23 year old brokerage firm, noting that local real estate marketers and sellers should be updated, and trained well, more so, that the entry of foreign real estate brokerage experts and specialists are expected come into the country.

"We would like to create a division in our company for proper educational education enhancement of the agents. They should be empowered to become globally competitive," said Inting.

For Land Asia network alone, the company registered 8,000 property agents around the country.

Inting said the changes brought in by the ASEAN integration is something that should be well countered by the local players. "Everybody is now looking at the Philippines," including the foreign real estate marketers and promoters.

Part of the modules that will be developed by the Land Asia Institute will teach agents on effective condominium selling; general brokerage, online marketing and social media penetration, personality development, leadership and management, among others.

This will also open opportunities for agents to get specialized skills, such as "Condominium Specialist" certification, among others.

Inting, who was the first Filipino certified international property specialist in the United States given in 2005, is bringing his expertise in Cebu to elevate the professionalism of real estate agents in the country.

As of this point, he said the country’s real estate brokers, including agents, are yet to be equipped in order to be competitive.

"The market is lucrative, but we have to guard it," said Inting. In fact, he added there are a lot of brokers who are, as early as now, already out of business because they can’t compete globally.

"Foreign brokers are entering the Philippines," he reiterated.

Based on Professional Regulatory Commission (PRC) record, there are over 30 thousand registered brokers in the Philippines, four thousand are licensed and registered up-raiser.

Inting has the license to open up an institute, being an accredited real estate brokerage lecturer and speaker of the PRC.

In a separate earlier interview with Philippine Association of Real Estate Board (PAREB) past president Dr. Tomasito Z. Academia, he said  the organization is also preparing to penetrate the ASEAN by opening up chapters especially in Thailand, Vietnam and Malaysia.

Academia said that Filipinos working and residing within the ASEAN will be able to get their license without having to go home, and promote and sell properties abroad.

Academia, who is a professor in Real Estate Management for both graduate and under-graduate studies in University of San Carlos and University of San Jose-Recoletos, said that although the government to government agreement on this matter has yet to be formalized, the private sector players in the real estate brokerage sector in the Philippines is getting ahead in establishing its foundation within the ASEAN bloc.  (FREEMAN)