STARTING A NEW ESTATE AGENCY LIKE IN UK, !!!

[Clermont]

9 hours ago, jasken said:

I'm here in Cavite and can't find one estate agent,  all the online sites are not up to date, driven by greed and infested with self employed agents.

Jasken, what you have said is half true, most properties are indented to the bank and a good percentage are under repossession orders. I have looked into both repossessed houses and for sale houses. Now the average PI doesn't advertise his house for sale, overseas workers that have settled in other countries tend too, but they manley keep the place as a retirement nest egg with a family member arrangement.

Now to get listings, YOU WON'T, the market is controlled by agents, some shonky and some on the border line, then there are others that sell by word of mouth, this is a common practise over there, even in Cavite and surrounding Barangays. I've looked at quite a few and if you are not up to speed on the tenancy laws you can be held liable if a squatter is inhabiting the house you have just sold.

I could write a whole lot more, but it would bore you, just be patient and read a few topics that have been posted on this site before you rush in. Google " Reposed houses for sale in the PI's", before you do anything and you'll see what your up against, very good information on there.

Selling or listing houses don't work over their the same as it does back home. 

[Rooster]

3 hours ago, Jollygoodfellow said:

Here's one in Cebu run by a Brit and wife. Since you already made your mind up I am not sure of the purpose of this topic 

 

 

Hidden Agenda, exploit free marketing/advertising for his "existing" real estate business.  

[Jollygoodfellow]

11 hours ago, jasken said:

Filipino with the right qualifications and go for a partnership 50/50

Have you studied the laws on business ownership? 

[LUFCinMakati]

I know quite a few large and small agents from events like Cheese Club, BCCP etc. CBRE have more than 3000 staff here and many of the new builds are handled by builders such as Rockwell Corp and Ayala Land, that's not a target market in my view. 

My family have a business on the other side of the world, not UK and my advise would be:

- Get a real estate licence before you start

- Keep your overheads low

- Invest in website, social media etc

- Join relevant professional bodies and clubs

- Keep at least 6 months worth of money in the bank, we keep 2 years, as its a very inconsistent income stream

- Be prepared for dealing with unethical sellers / owners and buyers / tenants and make sure you have a very good lawyer 

- First 2-3 years will be hard and less your exceptionally lucky

- You need a car and a driver, sitting in Manila traffic you need to be updating things, replying to emails and getting new business 

The above sounds negative and there is money to be made, my family have been in business for several decades, survived typhoons etc. 

Edited October 8, 2018 by LUFCinMakati

[fillipino_wannabe]

I was under the impression most high street based estate agents in the UK were struggling with the overheads as everything is just through rightmove now.
I think a website would be a better idea, Lamudi or whatever it's called sucks.

[mariaanna1218]

Well for one, you could make use of Google search engine and find a variety of places to look into. Say, start with phrases like "house and lot for sale" + "chosen location" from there a list of prospective places will be brought back to you thus enabling you to have knowledge of possible shelters.