Real Estate Service Coach

Expanded RESA or Separate Laws for Developers and Dealers

2012-02-11T00:02:00.000-08:00

My proposal is either separate laws for developers and dealers OR an expanded RESA to cover the developers and dealers.Basahin nyo yang RESA Sec 28A "(A) Any person, natural or juridical, who shall directly perform by himself/herself the acts mentioned in Section 3 hereof with reference to his/her or its own property, except real estate developers;".Kulang yan actually eh, merong kulang dyan.

MO 39

2012-01-29T08:06:00.000-08:00

Looking back at M.O. 39 of DTI -- the predecessor of RA 9646.Republic of the PhilippinesDEPARTMENT OF TRADE AND INDUSTRYBureau of Trade Regulation and Consumer Protection MINISTRY ORDER NO. 39 SUBJECT: RULES AND REGULATIONS GOVERNING THE LICENSING AND SUPERVISION OF REAL ESTATE SALESMEN, BROKERS, APPRAISERS AND CONSULTANTS AND REALTY SERVICE ORGANIZATIONS. Pursuant to the

Policy on Quack Agents

2012-01-26T23:16:00.000-08:00

QUACK AGENT - this is my new word for this week. You can use this to ridicule another agent (for some reason) at your most convenience. For example, you can print a large tarpaulin that says, "WISE BUYERS AVOID QUACK AGENTS".Always remember the rule of survival in the real estate market. Eye for and eye. Tooth for a tooth. Always follow your instinct. The code was made in the past to level the

VAT Exemption Threshold

2012-01-23T04:50:00.000-08:00

Effective 01 January 2012, BIR rules Increased Threshold for VAT ExemptionThe BIR has released Revenue Regulations (RR) No. 16-2011 dated October 27, 2011 which increased the threshold amounts for VAT on the sale of residential lots and house and lots, the lease of residential units, and the threshold amount for the sale of goods and services subject to VAT.Effective January 1, 2012, the sale of

Rltr. Petalcorin vs. MERALCO

2012-01-19T17:45:00.001-08:00

Maganda nga design ng bahay or commercial building mo, ganito naman harapan. Bullyhin natin etong MERALCO. Rltr. JPetalcorin et.al. vs. MERALCO. Sino gusto sumali sa et.al.? Isama na natin ang PLDT.Si SPIDERMAN daw ang may kagagawan nyan. PALUSOT!Darating ang araw useless na yang mga ilaw ng MERALCO, madilim na kahit saan ka mag-punta, dahil na-puno na ng mga ganyang loose cables and wires ang

PhilRES is in the Wrong Side of History

2012-01-17T17:05:00.000-08:00

IS IPORESP LEGAL?SEVILLA QUESTION? What is this IPORESP? Is IPORESP legal?ANSWER: IPORESP is legal because (1) it is formed primarily as peoples initiative to comply with the genuine integration mandate of RA 9646, (2) the RA 9646 allows RESPs to join Association, and (3) the Phil Constitution guarantees the Right to Assembly. Baka lasing ka lang. Perhaps you would like think over your question

IPORESP is Good for the Associations

2012-01-11T20:03:00.000-08:00

IPORESP NOT CHARGING MEM-FEE IS GOOD FOR THE ASSOCIATIONSQuestion: Sir John, is it good for the Associations if IPORESP will charge membership fees? How can IPORESP help the Associations?Answer? IPORESP does not charge membership fee to members. One of the reasons behind it is we assume that members don't want to pay duplicate fees to the IPORESP and to their Association. Kung merong P1,000

Invitation! REALTER-BIR Jointly Organized Trainor's Traning on Professional Tax

2012-01-09T22:14:00.000-08:00

BIR TRAINORS TRAINING FOR FREEADVANCE INVITATIONJohn Remollo PetalcorinIn line with my commitment to support the Professional Taxation program of PNoy Administration, there will be a BIR-REALTER JOINT SEMINAR titled "TAXATION FOR REAL ESTATE SERVICE PRACTITIONERS". This is a Trainor's Training. The finishers will get a Certificate that will give you credential to conduct an echo training on said

Basis of Good Standing

2012-01-09T21:35:00.000-08:00

Ibang klase ang PhilRES. Kung mag BAYAD, GOOD standing ka. Pag hindi mag bayad, BAD standing ka? PERA ang basehan ng pagiging good and bad ng isang RESP. Ibang klase etong PhilRES, parang extortion syndicate na eto. Garapata talaga. Kinilabutan ako. Hehehehe.Let me teach a little about IPORESP By-Laws. Ang basis po ng GOOD Standing sa IPORESP ay Disciplinary Status. Pag currently on suspension or

Will I file candidacy in AIPO?

2012-01-09T21:31:00.000-08:00

SAGOT SA AGAM-AGAMBalita ko, may iba't-ibang agam-agam kung ano ang plano ko kung papano mabigyan ng bread and butter ang mga members ng IPORESP. Marami din nag-tatanong kung pwede ba raw ako tumakbo sa AIPO. Hindi ko masasagot lahat nyan pa-isa-isa. Pero pwede kayo mag-tanong sa mga na meet ko ng personal kasi sa saglit ng aming pag-uusap ay nakwento ko sa kanila ang nilalaman ng aking isip

Signal on IPORESP-PAREB Consolidation

2012-01-09T21:27:00.000-08:00

If IPORESP and PAREB will officially merge today, it can represent more or less 50% of the RESPs and is already a satisfactory genuine integration.PHILRES can never satisfy the integration if it is alone, or even if either PAREB or IPORESP will join them. Only the CONSOLIDATION of IPORESP and PAREB can satisfy the requirement for Genuine Integration.Assuming IPORESP and PAREB will consolidate, we

Royalty to Realter is Tax Deductable

2012-01-09T21:23:00.000-08:00

ROYALTY PAID BY REAL ESTATE PRACTITONERS TO RLTR®/REALTER℠ AND P500 AIPO ANNUAL MEMBERSHIP FEE ARE INCOME TAX DEDUCTABLE ITEMS. There shall be allowable as deduction from the gross income all the ordinary and necessary expenses paid or incurred during the taxable year, which includes:Salaries, Wages and other employee's benefits.Fringe benefits.SSS, GSIS, Medicare, HDMF and other

Possible Bread and Butter of Licensed Real Estate Practitioners

2012-01-09T21:15:00.000-08:00

I have impending deal with BIR. Kung matutuloy ang plano, baka mag one week stay-in workshop kami ng BIR sa isang resort just to plan the BIR-Capture of the RESPs and to train me so that REIBS/REALTER will become a Model Real Estate Firm in terms of tax-paying. Magiging accredited Professional Tax training-provider din ang REALTER.Meron akong hinihingi sa BIR. Meron na akong mga talking points na

Non-Licensed Real Estate Practitioners will Stay

2012-01-09T21:12:00.000-08:00

Ang Pwede lang makasali sa commission sharing structure ay PRC licensed Brokers and Salespersons lang. Yung iba, pwede pa rin gumawa ng sub-function sa entire Sales Workload, at ang magbabayad sa kanila ay ang Broker.Halimbawa ako Broker, pwede ako mag-bayad ng serbisyo ng Flier Girl sa halagang P500 kada araw sa labas. Pag merong interested buyer, pasasamahan ko ng Salesperson ko at papupuntahin

Financial Accounting and Tax Guide for Real Estate Professionals - Individuals and Firms

2012-01-07T22:22:00.000-08:00

FINANCIAL ACCOUNTING AND TAX GUIDE FOR PROFESSIONALS - INDIVIDUALS AND FIRMS. Magiging part eto ng IMPORTANT/MUST/MANDATORY/IMMEDIATE/URGENT CPE. This serves as my signal and blessing to the CPE Providers, alam nyo na ang inyong gagawin. Eight (8) hours ang estimate ko nito, pwede na sa P800 (hindi kasali ang food) na fee kasi calculation na ginagamit ko ay P100/hour.http://www.blogger.com/img/

The Relevance of Professional Tax Receipt (PTR)

2012-01-07T06:39:00.000-08:00

According to BIR, a licensed professional can only become LEGALLY PRACTICING the profession if he/she has a Professional Tax Receipt (PTR). The PTR is the proof that a professional broker or appraiser is PRACTICING the profession for the specific year. PTR is the ultimate basis to prove number of years in practice in relation to a person's applications to qualify for license exam for Broker,

My Proposed Revision of Taxation on Real Estate Brokers

2012-01-07T06:36:00.000-08:00

Customarily, real estate brokers don't charge professional fees for each step of services rendered other than the end commission of a successful sale. For most brokers, successful sale only happens once in a blue moon, and for some, there are year periods when they neither get professional fees nor make a sale at all. This means we have no frequent transactions that require a pad of official

BOOK: The Procurement Game Plan

2012-01-03T14:10:00.000-08:00

Here is an email below from Charles Dominick, author of The Procurement Game Plan. This can be a good reference material for Buyer Agents and Exclusive Buyer Agents.Dear John,Have you wanted to learn and implement procurement best practices but struggled to find a resource that makes it easy for you to do so?You are not alone. But you are in luck!Today, my co-author, Dr. Soheila Lunney, and I

Independent Broker Accreditation with Developers

2011-12-31T20:55:00.000-08:00

QUESTION: Sir John, kanino po ba kami magpa-accredit as Independent Broker, sa Developer or sa Marketing Company ng Developer?ANSWER: Depende sayo. Pag sa Developer ka DIRECT, ang commission at stake dyan eh between 8-12 percent. Kung magkano commission ng Marketing Subsidiary Company ng Developer, ganun din sayo as Independent Broker. Ang disadvantage ng naka direct ka eh wala kang marketing

Difference Between Developer and Maketing Company

2011-12-29T17:32:00.000-08:00

QUESTION: Sir John, what is the difference between a Developer and a Marketing Company?ANSWER: Developr builds projects and sells it for a profit price to a Marketing Company. The Marketing Company in turn sells it to the consumers/buyers at a higher price to earn OVERPRICE and pay commission to its agents. Example DMCI Inc. is a Developer/BUILDER. DMCI Homes Inc. is the exclusive Marketing

Brokers have Exclusive Power to Register and Supervise Salespesons

2011-12-29T16:46:00.000-08:00

QUESTION: Sir John, bakit po kahit walang Broker endorsement ang Ahente ng developer eh pwede siya maka-register as Salesperson sa PRC?ANSWER: It is because the PRB-RES who is sitting now DON'T KNOW HOW TO READ simple english of the RA 9646. In short GRAVE STUPIDITY. Broker lang ang pwede mag supervise, register, and terminate the services of a Salesperson. Salespersons cannot work for, under the

BIR: Who are Professionals?

2011-12-25T21:43:00.001-08:00

WHO ARE PROFESSIONALS?By: Bureau of Internal RevenueProfessionals, refer to an individual or a group of individuals who are engaged in thepractice of profession or calling, WITH or WITHOUT LICENSE from a regulatory board or body. Professionals include but are not limited to lawyers, CPAs, doctors of medicine, architects, engineers, doctors of veterinary science, dentists, professional

How to Satisfy the Official Receipt Requirement of BIR

2011-12-22T00:08:00.000-08:00

QUESTION: Sir John, I am a Broker. I have authority to sell a private and individually-owned house and lot. I found a buyer and am closing the sale tomorrow. The seller requires that Official Receipt for my commission. My problem is, I have no Official Receipt. What will I do?ANSWER: You find a Broker who has Official Receipt. You let him close the sale but you pay your partner Broker all

Where to get Non-Generic CPE

2011-12-21T20:58:00.000-08:00

QUESTION: Sir John, where can I have CPE where I can get good value for my money? I hote those generic topics and usual faces in the real estate sector who just brag about their own selves and market their own business the entire day.ANSWER: Good question. Try visiting your nearest university or college. Universities and Colleges are CHED-Accredited Institutions. They normally have SHORT COURSES

REALTOR Trademark Registration in IPOPHIL May be Revoked under RESA Law

2011-12-17T04:08:00.000-08:00

FOREIGN RECIPROCITY PROVISIONQUESTION: Sir John, I've read your blog about foreign real estate service practitioners operating in Philippines. You mentioned reciprocity? What is it?ANSWER: Reciprocity provision is the Section 24 of the Real Estate Service Act (RESA Law of 2009). It says, "FOREIGN RECIPROCITY- No foreign real estate service practitioner shall be admitted to the licensure