Are you aiming for a suitable career path that will help you to sustain yourself? Or is there something you should aspire for to achieve your entrepreneurial goals? If that is the case, real estate might be the right career option for you.
In the Philippines, the real estate industry is presumably one of the most developing businesses. Following the country’s overall economic development, the Philippines real estate sector has seen exceptional growth. The demand for housing units continues to increase, and the industry is optimistic about achieving new milestones.
The real estate profession has been seen as medium in helping to stabilize the national economy. Consequently, with the economy expanding and companies seeking to recruit, this is unquestionably an opportunity for you to consider.
Below are 8 job prospects and paths that you can choose as a real estate professional:
1. Real Estate Broker (REB)
A real estate broker performs real estate negotiations and deals in sales. One needs to have a license honored by the Professional Regulation Commission (PRC) to practice this profession.
Each broker can accommodate up to 20 real estate agents/salespersons who can use his PRC license to sell properties.
Average Base Salary: ₱512,329 (PHP)/yr
Average Bonus: ₱100,468 (PHP)/yr
Entry Level Salary: ₱292,283 (PHP)
Senior Level Salary: ₱657,111 (PHP)
2. Real Estate Agent (REA)
The real estate agent works under the supervision of a licensed real estate broker. He sells properties using the license of his REB.
Recently, PRC has required REAs to become licensed real estate salespersons.
Depending on the role, sometimes REB and REA do the same function in assisting both sellers and buyers. They look at the business dynamics and give recommendations according to existing market needs. Assistance is provided to customers to look at various assets and select ones that suit their needs.
Average Base Salary: ₱355,743 (PHP)/yr
Average Bonus: ₱53,148 (PHP)/yr
Entry Level Salary: ₱209,156 (PHP) / yr
Senior Level Salary: ₱451,894 (PHP) / yr
3. Real estate leasing agent
While property owners seldom take the time to show new renters around a property before leasing it, a leasing agent is often hired to do this job for the landlord. If an applicant has been selected, the leasing agent reviews the screening criteria, qualifies the candidates, and processes the lease papers.
Average Base Salary: ₱298,708 (PHP)/yr
Average Bonus: ₱41,311 (PHP)/yr
Entry Level Salary: ₱177,462 (PHP) / yr
Senior Level Salary: ₱378,218 (PHP) / yr
4. Foreclosure Specialist
A foreclosure specialist handles all the paperwork and processes associated with the foreclosure of the property. They will evaluate the client’s financial information and cases for the immediate resale of the property. A deadline-conscious, well-organized, and with excellent communication skills are much needed in this profession.
Average Base Salary: ₱207,049 (PHP)/yr
Average Bonus: ₱4,141 (PHP)/yr
Entry Level Salary: ₱156,574 (PHP) /yr
Senior Level Salary: ₱252,176 (PHP) /yr
5. Commercial Leasing Manager
Commercial Leasing Manager oversees and controls the leasing marketing team’s operational functions in compliance with company policy and practices. Taking responsibility for all leasing functions might include evaluating and attempting to negotiate lease transactions and negotiations.
Average Base Salary: ₱673,948 (PHP)/yr
Average Bonus: ₱34,371 (PHP)/yr
Entry Level Salary: ₱479,225 (PHP) / yr
Senior Level Salary: ₱842,966 (PHP) / yr
6. Commercial Real Estate Manager
A commercial property manager’s functions include ensuring the buildings remain operational and overseeing the leasing of properties. Such workers usually have the additional responsibility of working with large shopping plazas, malls, or office buildings with multiple sections. He also oversees maintenance and repairs as well, as collecting rent for properties.
Average Base Salary: ₱403,964 (PHP)/yr
Average Bonus: ₱14,906 (PHP)/yr
Entry Level Salary: ₱296,366 (PHP) / yr
Senior Level Salary: ₱499,885 (PHP) / yr
7. Title Examiner
The title examiner helps ensure no further claims are attached to the previous landowner before transferring to a new owner. To ensure that the title is accurate, the title inspector conducts a thorough review of public records and prepares all necessary documentation.
Average Base Salary: ₱264,692 (PHP)/yr
Average Bonus: ₱5,506 (PHP)/yr
Entry Level Salary: ₱195,547 (PHP) / yr
Senior Level Salary:₱326,456 (PHP) / yr
8. Property Developer
Property developer obtains property and supervises residential or commercial development. Developers are accountable for implementing all applicable building regulations and other restrictions and acquiring the required building permits.
While property developers will buy land for new building projects or work with different buildings to rehabilitate and refurbish them, some will purchase land for new construction projects and work with existing structures to rehabilitate and renovate them. Once the project is finished, the developer resells the property.
Average Base Salary: ₱552,955 (PHP)/yr
Average Bonus: ₱25,547 (PHP)/yr
Entry Level Salary: ₱396,594 (PHP) / yr
Senior Level Salary: ₱689,927 (PHP) /yr
Instead of compromising for some form of job that won’t carry you closer to your long-term ambitions, you can chase after work what drives you closer to them. Real estate provides chances to see exactly how fast you will go with a good outlook and plenty of hard work.
Do not be scared to make the job change if you can function in this top-rated sector.
P.S. The salary rates above are based on a survey and study. Some companies can offer less or even more depending on one’s qualifications and the corresponding budget for each position. Moreover, for items 1,2, and 3, income can be unlimited for freelancers or self-employed individuals depending on their effort in selling and leasing properties.
Original article written by Diego Sarcaoga, REBPH Intern.