REIBS.COM Homepage

By: John Odonnell R. Petalcorin
Consumer Advocate, Exclusive Buyer Agent,
Non-profit Educator

Five Types of Real Estate Agents
Agents play a big role in real estate transactions. If you are a seller, your agent will present the property in the best manner so it will be sold at the best price. If you are a buyer, your agent will help you in research to find a wide array of choices and will assist you in negotiation so you can buy the property at the lowest possible price... Whether you are a buyer or a seller, if you go into the market ring without representation, you will most likely end up defeated... Therefore, I strongly suggest, be represented by an agent of your choice... [read more]

Exclusive Buyer Agent
This article will describe in detail one particular type of real estate agent, which is, the Exclusive Buyer Agent or EBA. I will discuss how to distinguish an EBA, who are the clients of EBAs, who needs EBAs, why do buyers need representation, what an EBA does for a buyer, who pays the agents, how EBAs are paid, when should buyers consult with an EBA, and where do EBAs get listing information... A Buyer Agent is also known as Independent Shopping Assistant, or Price Bargaining Assistant, Purchasing Professional, Consumer Representative, Buyer Advocate, and Property Finder... An Exclusive Buyer Agent (EBA) is a buyer agent who is not tied up to any seller or real estate developer, therefore free from any conflict of interest. An EBA is a professional real estate agent who renders 100% loyalty representation services on the buyer side... The word "exclusive" refers to his "entire career", which means that an EBA is an agent who has made a decision and choice to represent buyers only and never sellers in his entire career... [read more]

* Negative Impact if Developers will be Exempt in the Coverage of RA 9646
* Online Petition to Include the Developers in the IRR of RA 9646
* RA 9646 - Real Estate Service Act of the Philippines (full text)
* RA 9646 Advantages the In-House Real Estate Agents of Developers
* RA 9646 Compliant Restructuring Plan for In-House Units of Developers
* RA 9646 Eradicates the Unlicensed Real Estate Agents
* RA 9646 Professionalization of Real Estate Services means Upgrade of Quality Standard
* RA 9646 Provides Security of Tenure to Real Estate Agents
* RA 9646 Provides Training to Unlicensed Real Estate Practitioners
* Treachery of the PRB-RES on Draft IRR of RA 9646

Anomalies, Fraud, Scams, Schemes in Real Estate Transactions
This is an expose' of anomalies, fraudulent schemes, and scams in the Philippine real estate sector. The issues that I will describe here are: (1) Information Brokerage versus Brokerage Service, (2) Colorum Agent Pretending as Property Owner or Dealer, (3) Buy&Sell Cut and Paste Anomaly, (4) Advertising a Lead versus Advertising a Property, (5) Colorums with Special Power of Attorney Anomaly, (6) Counterfeit/Fake Land Title Documents (the worst of all scams), and (7) Hidden Charges Concealed Behind Net Listing Offers ... [read more]

My Ultimate Guide for BUYERS
Your easy initial task as a prospective buyer is to come up with three most important filtering information: (1)Prefered location, (2) Budget limitation, and (3) Type of Agent... Without wasting your time, let me tell you straight to the point that I know what you have and what you want as a buyer... What you have is a huge amount of money you are about to spend for real estate. Now, listen, at least five percent (5%) of that money will go to the pocket of the real estate agent whether you like it or not, whether you will notice it or not. Now, get a piece of paper and write down how much that 5% of your budget; then realize that you deserve service and loyalty from an agent in that amount... What you want are : (1) wide array of choices, (2) no after-sales regretable discoveries, (3) best value for your money, (4) best financing options. I will give you four straight answers on how I plan to meet these four wants... [read more]