Vital guide for buyer agents

QUESTION: Sir John, who are the first people your contact when you are looking for properties to meet the demand of buyer?

ANSWER: Contact the four major Banks that holds huge investory of foreclosed properties. Combined listing of BPI, Metrobank, BDO, PNB is around 10,000 properties. With banks, buyers can go DIRECT, and referral fee is straighforward without any additional layer, and I don't have to go through the hassle of checking out if the property or owner really exists. The last that I check-out is the classified ads because there are many non-exiting properties advertised in internet, classified ads, and clandestine MLS, advertised by some desperate Brokers who just want to capture buyers.

PROCEDURE: Always be ready with the Buyer Registration Forms of the four banks. The moment the buyer confirms that he/she wants your assistance (may license ka man or wala), let him sign kaagad the Form and transmit it to the banks, put your name and address as the Referral Agent. Kapag merong mag-fit na property, kocontakin ka naman ng bank to assist them with the buyer on the additional paperwork.

QUESTION: do you have to do a "salestalk" or any function of a Broker or Salesperson?

ANSWER: Kapag Referral Agent ka, hindi mo kailangan magpaka-salesperson or magpaka-broker. Hindi mo nga kailangan ng license eh. You can be anyone, with or without nowledge in real estate. The bank have Salespersons and Brokers who will take care of those things for you.

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