SENATE BILL No. 1362... RESA Spirit Circumvention?

SB No. 1362

Updates On Real Estate Taxation

Tax Forum with Real Estate Practitioners 

ANC On The Money: Investing In Properties

(video from youtube)
"Buy real estate when you have covered your basic needs and you have extra cash set aside." Carl Dy
ANC ON THE MONEY

Quick Guide to your PAREB MLS

QUICK  GUIDE  TO  YOUR  MLS

Serving Members 24/7

WHAT IS MLS?

MLS  stands for Multiple Listing Service, sometimes called Multiple Listings System known worldwide.  PAREB-MLS is being handled by the MLS Committee of the Philippine Association of Real Estate Boards, (PAREB) Inc. Members post and exchange listings among its members through the MLSPAREB E-GROUP.  PAREB Members posts listings for properties for sale or lease and/or clients property  requirements-equally sharing Professional Fees on successful closings.

HAVE  YOUR  OWN WEBSITE VIA RPMLX.COM?  

PAREB  MLS also uses an online system-RPMLX.com our website which houses our real estate portal. RPMLX.COM contains basic information on a properties for sale or lease. Sign up and get your own website where  you can upload information and pictures about you and about your listings. (New Pareb Mls website:  www.parebmls.com )

MLS  RULES  AND  GUIDELINES:

PAREB MLS has its own set of RULES which the members must follow to ensure a fair, equitable and peaceful  sale of real estate amongst its members.

WHO OWNS THE MLS?

PAREB owns PAREB MLS which is a member based service and is part of the benefits of PAREB members through membership in local boards, it is administered and operated by its MLS COMMITTEE.

BENEFITS  OF  USING  MLS  SEARCH FOR LISTING

MLS moves our listing faster by matching listings posted in the MLS.  The SEARCH engine in our MLS database makes this possible.  

WHO MAY POST LISTING TO THE MLS?

All Pareb members in good standing may post listing on the MLS. Members who post listings on MLS  agree to abide with all the MLS rules and code of  ethics.

HOW  WILL  MLS  WIN CLIENT  LOYALTY?

Posting your listings on MLS means members will immediately   receive your listing  on their email as soon as it is posted. Your listings will be seen by 814 other members from different local boards who can help you find a buyer/ tenant for  your listed a property or  help you find a property  for your wanted to buy/lease listings. With so many members you can sell your property faster and your client will stick with you for providing good service.

WHAT CAN YOU POST IN THE MLS?

Only  direct listing for  Sale/Rent/Joint Ventures may be posted in our  MLS.  Wanted to but/lease properties may also be listed but must also be from DIRECT BUYER/CLIENTS. Listing Broker must verify  titles of the subject  properties for sale and venture, minimum.

COMMISSION

The Professional Fee must be  5%  or at least  3% of the Selling Price. For properties for rent it should be minimum of one (1) month per year. PF for subsequent year/s may vary.

WHAT ARE  THE BASIC GUIDELINES FOR POSTING OF PROPERTIES IN MLS?

A listing broker must have personally  seen and inspected the said property. Submitted data must be true and correct to the best of his knowledge and ability. A written AUTHORITY  TO SELL/LEASE must be available upon demand.

CAN YOU SHARE LISTINGS POSTED ON THE MLS?

NO.  PAREBMLS is a private E-GROUP. Only MLS  Members can view its content, emails and archives of messages and information. You must secure permission from the listing broker to share listings with non-members.

WHAT DETAILS OF THE LISTING BROKER MUST BE INCLUDED?

All messages must bear at the very minimum, the name of the member, his local board affiliation, and contact info. Location, Price, Professional fees must also included. Without these info, it will not be approved by the moderators.  

HOW DO I PUT THE ABOVE INFORMATION EACH TIME I SEND AN EMAIL?

You may set your “signature”  in your email so that this becomes authomathic .  To assist you with your signature, the MLS Committee have its members assist you during the CONGRESS. You may also refer to suggestions made by our our “PAREB TECHIES” in earlier e-mails in the e-group. Type “SIGNATURE” in the Search box and look  for postings on this topics.

HOW DO I ORGANIZE  MY LISTINGS:

Listing of properties individually will benefit you more if you organize postings or put them in “folders’ according to category as some REALTORS do. For example you may file them as ‘For Sale’ House and Lot, etc. You may always refer to these folders in proper Category as your need arise.

USE OF CATEGORY FOR LISTING PROPERTIES IS ENCOURAGE:

Members are encourage to use categories selected by the MLS Committee to maximize the listing placed on MLS. Here are some :

FS –  For Sale

FL -   For Lease

WTB – Wanted To Buy

WTL – Wanted to lease

THSE – Townhouse

HL – House and Lot

VL – Vacant Lot

  

IF YOU WANT TO LOOK FOR A SPECIFIC PROPERTY LISTED TO THE MLS  E-GROUP, HOW DO I FIND IT IN MY E-MAIL?  

If you currently a member of the e-group, you may type the name of property, or property type in the “search box” and through ‘search result’ you may find property you are looking for.

WHAT DO YOU DO WHEN YOU GET A REPLY TO YOUR  POSTINGS?

When someone calls you regarding your listing, it becomes your obligation to reply to the Realtor . As a courtesy  to your fellow Brokers, you must  acknowledge the email/text regarding your listing promptly. Always make it a habit to check your  “BULK”or “Spam” folder. Sometimes replies to your emails land in there.

WHAT IS THE SHARING OF PROFESSIONAL FEE TO THE MLS?

In our MLS sharing is always split 50/50 by the listing Broker and the Selling Broker. In case there is a REFERRAL, the referral fee which is 10-20%  may be shared by the selling and Listing Brokers  but only if there is prior  agreement among the parties. The other party who is being requested to share in REFERRAL FEE has no obligation to participate in sharing such fee, in which case the referral fee will have to be borne by the member whose who was referred the buyer/client/listing.

  

IN CASE OF OPEN LISITNG, IS IT  ALRIGHT FOR SELLING BROKER WHO PREVIOUSLY BROUGHT IN A PROSPECTIVE BUYER (but the transaction did not materialize or otherwise)to solicit his own Authority to Sell/Lease from property owner?

A  listing broker may not go directly  to the OWNER  even if the transaction did not materialize. He/She must go through the other Broker who introduced him to the property.

WHAT IF  THE SELLING BROKER FINDS OUT AFTER BEING INTRODUCED OF THE PROEPRTY THAT HE “KNOWS  “   the property owner through some personal circumstances ( a friend of a friend, sister of a client, etc.) is it alright to solicit an AUTHORITY TO SELL/RENT for himself and close the sale on his own?

Even if the selling Broker is a friend , relative, etc of the owner, our CODE OF TETHICS prohibits him/her from getting the listing from owner/client of the listing broker.

CAN WE POST COMPLAINTS IN THE MLS E-GROUP?

The MLS Committee through the recommendation of the Moderators and the local MLS President and/or Chairman where errant member who does not follow the mls2005 rules as set forth.  (Courtesy of  Pareb Mls)