Challenges of Real Estate will be Solved through C Estates
The “Real Estate Technology Revolution” that took place last March 12, 2019 at the Social House, Riverfront Drive, Circuit Makati, Philippines was indeed an eye opener to those real estate professionals and investors alike who attended the event.
Mr. Jay Bonn Agbulos, a highly notable real estate sales person who made a total of 2.7 Billion Pesos worth of properties sold in 2018 and now the C Estates Inc Senior Sales and Marketing Manager highlighted the characteristics of the C Estates platform and how it can help the real estate market.
Mr. Agbulos has pointed out the five major challenges of real estate business which are the following:
1. High Transaction Cost — Where every step you do to check and verify the authenticity of a document entails payments and fees which are ridiculously high.
2. Risk of Fraud — This mostly happens on the secondary market where a property that has been sold initially is being offered for resale to another buyer.
3. Property Ownership Based in Jurisdiction — This talks about the 60/40 rule on the Philippine condominium sale where 60% of the total condominium tower must be Filipino owned while only 40% can be sold to foreigners, and this limits the foreign buyers in investing more in Philippine real estate.
4. Slow & Complicated Process of Transactions — This is not new and everybody knows that even verifying a single item in the tax department or in the land registry will take days or even weeks for you to finish; not to mention the painstaking process of payments and lots of paperworks while your property is still under the developer.
5. Liquidity — Not doubting that real estate is the most stable asset in the world and investing in such is a good decision, selling and liquidating your asset is not that easy because of the obvious reasons mentioned previously.
And with these being said, it is just fitting for everyone to face the reality that only the adaptation of technology can unlock the fortune that remains to be on lock-down by conventionality.
Empowered with the new era of technological advancement, Mr. Agbulos presented the true purpose why C Estates Inc was born. It is a real estate company that knows the reality behind the traditional real estate transactions and is projected to break the barriers that will make the Trillion Dollar industry a liquid market which was before an impossible thing to do. Indeed real estate will now be easy for everyone with C Estates.
