5 Things To Look For In Your Agent
- Dana Bulaon
- Aug 24, 2017
- 3 min read
It is inevitable that homeowners, especially those that are based overseas, will eventually deal with agents one way or another so it is important to know who to trust. Being both an agent and homeowner myself, if I do choose to hire an agent for my property in the future, these would be what I will look out for.
#1: WELL DOCUMENTED AND PRESENTED
You will notice that professional agents have complete documents available at your disposal and that their documents (especially the Contract of Lease and Authority to Lease) are not vague but are comprehensive enough to cover everything.
You will also notice emblems of their success which could be in the form of what they wear, drive, where they live, etc.
#2: ASKS ALL THE RIGHT QUESTIONS
Being asked relevant questions you might have not even been asked about or thought about is a good indicator that your agent is thorough.
You might feel at first that the questions may be irrelevant or not yet important to think about at that moment but the reason that everything is asked in that first step of the process is so that agents won't need to keep bothering you for small questions later on. Sometimes, opportunities are lost while waiting for feedback as some prospective tenants cannot wait too long for an answer.
Professional agents will ask for ownership documents (such as Title or Certificate of Unit Ownership) and valid IDs of the registered owners as proof of ownership. This is done to verify if the person they are talking to and signing the documents can legally enter the Contract of Lease and Authority to Lease.
If other owners are involved and only one person is signing the documents, a Special Power of Attorney or Lease Authorization is expected not only by the professional agent but also by the notary when the Contract of Lease gets notarized. Sadly, not plenty of agents practice this in the Philippines, so you can just imagine the surprise of of owners who find out that their property is rented out without their consent.
#3: QUALIFIES TENANTS
A professional agent should be able to at least let you know the lease period, move in date, number of occupants, parking and pet requirements as well as budget of prospective tenants before viewing.
For owners who personally come to show their properties, this is crucial so that they have an idea if what they are going for is worth it or not.
Professional agents should be able to submit to you an Application to Lease indicating the tenant’s personal information, employment and occupancy history, as well as certificate of employment or Alien Certificate of Registration if applicable and available, to help you make informed decisions when accepting tenants. This helps a lot for owners who did not get to personally met the potential tenants before making a decision.
#4: EXPERIENCED AND AWARE OF MARKET RATES
Agents who have already successfully leased out more than five properties in your building or area will be able to help you make informed decisions about pricing your property.
They will be able to tell you whether your property is overpriced or at what price will rent your property faster.
#5: HAS AND WONT HESITATE TO GIVE YOU IDENTIFICATION
Individuals who have their own License (PRC ID) are more valuable to homeowners than individuals operating under a real estate agency or using another individual’s License (PRC ID) because Licensed agents are more vigilant when it comes to their real estate transactions to protect their own license.
This bodes well for homeowners as Licensed agents will do everything they can to avoid conflicts with both landlords and tenants.
I hope that you found this helpful! :)
ABOUT DANA BULAON:
I'm a PRC licensed Real Estate Broker who has been selling, renting and buying properties since 2012. I was formerly a multi-awarded International Sales Manager from Century Properties, an International Sales and Marketing manager for a 5-star hotel residences in Boracay, and RE/MAX professional. I am now operating independently under my own license. (more)
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