Professional Real Estate Street-level Search (PRESS)

Professional Real Estate Street-Level Search

As a seasoned broker, I attest that the listings being advertised in classified ads, internet, and clandestine multiple listings are not sufficient to find the best or ideal property that the client is looking for. Street-level Search is still the best way to find it.

In the past, if we (brokers) can't find a listing in the internet that fits the demand of the client, we normally just forego the client. As we become seasoned, we realize that service must go beyond the convenience of the computers. To meet the demand of the Clients, I developed this customized search service for entities (individuals persons or companies) who are looking for residential, commercial space for rent, and industrial spaces to buy or lease in Metro Manila. The workload of this service involves actual search on the street level. Below is the workflow and output of the services:

1. Client sets an appointment for a meeting in the office of the broker by email.

2. Client will be assisted by Broker in writing the desired specifications (type of building, budget, floor area, facade, frontage, parking area, foot traffic, utilities, amenities, etc.) of the property to search for. A map will be used for the client to identify the area he/she want the search to cover. The Client will sign an authorization that will allow the broker to send an Intend to Buy/Lease to possible properties that will be found.

3. Broker deploys the Field Researcher (spotter) on motorbike to check the search area and look for properties that more or less qualify the specification of Client. The Spotter will take pictures of the property,  take down descriptive notes, and will hand over the Broker's Letter of Intent to Buy/Lease to the owner, manager, administrator, or c/o the security guard of the property on site. Owners or Agents of the spotted properties are given instruction to respond to the broker with an Offer to Sell/Lease.

4. The broker will send (by door-to-door courier) the individual Property Folder of the offers to the Client.

5. The Client may get the optional service of the broker to negotiate the acquisition/lease, or may deal directly with the Offerer.


Field Research Service Fee (payment goes to the Field Researcher to be deployed by the Broker)- P2,000 per day which can already cover both sides of around ten to fifteen kilometer road(s)/street(s), or P2,000 per 2-4 Square Kilometer Search Range in areas with high concentration of streets. Additional reasonable fee will be charged to cover the actual operations cost for searches outside Metro Manila.

Initial Contact, solicitation of offers, and Property Folder Preparation (paid to the broker) - P2,000 per Folder.

Negotiation of acquisition or lease (optional service of the Broker) - 5% of the Total Acquisition Price (for Buying) or amount equivalent ot One Month Rent (for Leasing). This fee may be negotiated and agreed by and between the three parties (Broker-Buyer-Seller or Broker-Lessor-Lessee) as already part of the Total Contract Price, just like a broker’s Commission.

Rltr. John R. Petalcorin
Real Estate Broker Lic# 0010105
1504 Cityland Vitocruz Tower 2
#720 P. Ocampo Street, Malate, Manila PH
Cellphone: 0921-7172040 / Email: JohnPetalcorin@Gmail.Com


dennis richard said...

Nice article as for me. It would be great to read more concerning that topic. Thnx for sharing this info.Real Estate Agent Australia

Virtual Office Manila said...

Bookmarked! If we are going to look for real estates, we will contact you. Great job!

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HcoRealEstate said...
This comment has been removed by the author.
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