Many agents sell real estate as a form of "profit-sure" investment. This is a big anomaly, not only in many countries where real estate is a proven speculative investment, but more so in Philippines.
Most of the buyers who were convinced to buy real estae, specially condominium units in Metro Manila for the purpose of "investment" realized later on that owning it is more of a liability than investment because of sure Assoc Dues and Utility Bills. Tenants are difficult to find. All Real Estate Developers treat the unit owner as "competitors" after sales -- not only in selling aspect but also in leasing.
Worse scenario is when the buyer is caught unaware that some Developers insert a provision in the Master Deed that the owner can only sell the unit in the future exclusively back to the Developer at a price originally bought. Unprotected buyer scenario normally happens when they get into real estate buying without guidance of an Exclusive Buyer Agent (EBA).
If real estate service professionals (RESP) continue selling real estate as a form of INVESTMENT, I think we should be regulated by Securities and Exchange Commission (SEC) like the stock market. Full disclosure to investment customers is vital in fair and honest investment marketing. RESPs should also be taught on the fundamental and technical skills in speculative real estate investment analysis.
If there is anything else important that I forgot to include in this article, or if you experienced a real estate transaction that is anomalous, scam, fraudulent scheme that you want me to document and expose for others to be warned, or if you want to donate to the war chest of real estate consumer rights advocacy, please feel free to email me at JohnPetalcorin@Gmail.Com. If you want to comment about this article, there is a provision for this purpose that you can find below.
Thank you so much for visiting my site. May God Bless You!