One of the best things that have happened in real estate in recent memory is the rewards system to sellers (brokers and agents) as a result of the competition among players in property development.
Some five years back, real estate agents only get 5 percent (and some even lower) for every sale they make for a presold project. I can clearly recall as well where agents (in Butuan City) were compensated with one sack of rice for every house sold. Back then, sellers were, so to speak, at the mercy of developers. And I believe this was one of the main reasons why real estate selling was unpopular as a way of living.
But things have changed for the better now. In fact, the tables have turned on the side of real estate agents. Thanks to competition, and to the innovative minds of property developers in Cebu, real estate practice is now more rewarding and fun for those who would like to try realty agency as a business. But this would have not happened, if it were not for the strong advocacy and influence of the Philippine Allied Chamber of Real Estate Brokers and Licensed Salesmen (Philacre), a real estate organization also in Cebu, which forwarded a simple yet a win-win marketing philosophy where agents are handsomely compensated (in incentives and bonuses apart from commission) without hurting the bottomlines of developers.
Philacre president Anthony “Tonton” Leuterio, says “There is no other way to grow the industry but to synergize the marketing plan of developers and selling agencies in order to effectively promote and sell the project fast to our customers.”
At the outset, his idea was met with strong resistance especially by the heads of marketing of developers and even by colleagues in the business. They told me “It’s a pie in the sky to change the rules of the game much less convince their marketing to agree on something that has never been tried before. But I’m glad that developers in Cebu were open to the idea. The late Richard King was the first to embrace it telling me that it makes a lot of sense to him. I tossed this to other developers” remembers, Tonton.
Tonton also made a prediction four years ago that homegrown developers will lead and dominate property sales in Cebu in the next five years. It’s been four years now and pretty much of what he said has already come to pass. Primary Homes, Cebu Landmasters Inc, AppleOne Properties, Johndorf, Contempo Properties, Landtraders World Properties, Inc., are some of the most prominent names, just to name a few, in condominium development. They are relatively “newbies” and yet, have already made a footprint in residential-vertical projects besting veterans and renowned players from Luzon, in the business..
So much has changed in the lives of people, too. Tonton is also humbled by the fact that for his one very small idea, many have made their fortune in preselling projects.
“My realty is producing millionaires every month just by selling condos and houses. It’s because we have made real estate selling a respectable and gainful business for people who believe in this business. I don’t consider them as agents when they join my realty. They are actually my partners because they generate business for me and I reward them greatly also. I am the only realty firm in the country that’s willing to give up as much as 90% of my commission to my partner-agents. That’s why my realty is the fastest growing agency in the country because of my rewards system. “
Tonton’s company, Leuterio Realty and Brokerage, is not only popular for its grand slam sales performance for many developers, the firm is also popular internationally having been Highly Commended as Best Real Estate Consultancy in Asia and Best Residential Agent in the Philippines by the Philippine Property Awards and Asia Property Awards, respectively in 2013. His company was also recently accorded (and the only realty) as among the Most Promising in 2014 by Asia Pacific Entrepreneurship Awards along with big names in trade and industry.
Another feat that his realty has achieved is that he was able to deploy delegates to the National Association of Realtors Convention in the US. NAR is the biggest real estate organization in the world comprised of over 100,000 real estate practitioners from all over the world. Tonton holds the record of sending the biggest delegation to the said convention for two years now and is the only realty firm in the world (and proudly from Cebu) to have done so.
“I am inviting more people to join me because it’s more fun here and are generous with our commissions. We also give free trainings and use of our online marketing system for free.” Tonton holds orientation seminars every Monday, Wednesdays, Fridays, in his headquarters in Cebu. He tours around the country to conduct the same seminar to invite people to try real estate as a business.
For those who would like to try real estate as a business, you may send an SMS to 09336366565.