It was an honor and privilege to be invited by a prestigious and one of the top appraisers company in the land to join their team in appraising property in Metro Manila.
Truly it adds value to my appraisal skills and in running an appraisal company.
Great experience.
Appraiser Planner
Gus Agosto attended the Forum with visiting professors Dr. John Leung from City University of Hongkong and Dr. Brian To from Singapore Management University as speakers. Dr. Leung discussed the topic “Entrepreneurship is Service”, while Dr. Brian To share the topic “Managing Yourself”.
Both professors were distinguished and successful on their own field. Dr. Leung is currently the Director of Executive MBA program, and an Associate Professor of Marketing at City University of Hong Kong. While Dr. Brian To is a Senior Practice Professor of Strategy and Leadership and Senior Wharton Fellow of University of Pennsylvania.
“The more I learn, the more I realize that there are more things I need to learn and discover”, Appraiser Planner Gus said. Gus is also a faculty member of the University of San Carlos.
The forum, organized by the School of Business and Economics, was held last August 24, 2015 in University of San Carlos Downtown Campus. “The pace of innovation in business are now moving fast, and I want to learn more to provide my clients of top of the line solutions”, Gus ended.
By: Gus Agosto, EnP, REA, REB
President, PAREB-Cebu South Real Estate Board
(Speech delivered at PAREB-CEREB General Membership Meeting Held in City Sports Club Cebu, on July 30, 2015)
Good evening President Sammy Lao, Officers, Past Presidents, new members and guest.
Thank you for inviting me to speak on the Importance of Environmental Planning for Real Estate Practitioners. I will try first to discuss the basics of Environmental Planning. Then second, the historical role of PAREB on promoting the call for Land and its highest and best use and for its widest distribution. Lastly, I will end with a brief on the encyclical Laudatu Si of his emininence Pope Francis.
Environmental Planning
Fellow practitioners, today we are experiencing many problems such as flooding, heavy traffic, squatters, skyrocketing cost of prime commodities, unemployment and more. Without a feasible and long term solution, these problems will worsens as population grows exponentially year after year.
The solution lies on planning ahead, while solving short term problems at present. We should promote long-term and broad thinking. Here comes the importance of Environmental Planning. It is a discipline that deals with the study of the built environment, population, economy, infrastructures and the whole environment.
Real Estate practitioners’ keen understanding of zoning, infrastructure, resource allocation, transportation, traffic schemes, waste management will lay the foundation for efficient, environmental and equitable real-estate developments in the future, and in short term serve better our clients.
With knowledge on climate change, we can help in climate change adaptation and disaster risk reduction. Cebu City including Mactan Island is vulnerable to warmer sea temperature, extreme rain fall, river flow and flooding, ocean acidification, rise of sea levels, intense tropical cyclones, high climate variability, all of which are exposure of climate change scenarios.
Furthermore, Cebu City still has no land use plan. Our last Comprehensive Land Use Plan was in 1996 and until now, there is no land use plan yet. Based on Japan International Cooperation Agency, Metro Cebu’s population is expected to double from 2.5 million to 5 million by 2050 (1.2 M 1990). What does it mean for us? The City could not pass a zoning ordinance that will become a basis for regulations and will direct which structures or establishments should rise where.
PAREB Tradition
We in PAREB have a tradition in upholding the the physical environment, highest and best use of our land and ownership of widest distribution. We know the importance of Land Economics, where land is the basic component in real estate.
We studied land use, natural resources, urban and rural settlements, housing and all other factors that affect land as a limited resource. In economics, we studied how to allocate scarce resources for good use. Land, whose supply is finite, needs more attention and study, as to its BEST USE and worthy to live.
The livability of a city translates to higher real estate value and attracts more investors, both local and international. We should also help and support our fellow countrymen in achieving economic upliftment. In solving massive homelessness, massive unemployment should need to be addressed. Thus economic development should be pushed.
As real estate practitioner, our involvements in these issues were long overdue. We should start now and be involved in short and long term planning of our cities, province and regions.
Care for Our Home
I wish to end my speech with thoughts from Pope Francis Encyclical Laudato Si which means “Praised Be To You,”. Laudatu Si calls for care of our common home, the Planet Earth.
It is the first encyclical to focus primarily on creation care, the Christian idea that God gave humans the earth to cultivate, not conquer. In this encyclical the Pope called us to hold and raise the banner of intergenerational responsibility. He poses a challenging question “What kind of world do we want to leave to those who come after us, to children who are now growing up?”
My fellow practitioners, the answer to that question lies on each and every one of us.
Maayong gabii sa tanan.
I have a client who asked me if I am using the same appraisal report format in my practice. I quickly replied no. Why? Real estate properties have different appraised values depending on how you intend to use the appraisal. For instance, valuation for insurance may be very different than the value in the market, estate tax, property resale, or insurance. Other assigned uses include investment, liquidation, price confirmation, equitable distribution, loan collateral, retrospective value and many more.
Qualified and educated appraisers understand the many different types of values, assigned uses, and market condition in an specific area. He or she works with client to choose the proper type of value so that they can use the appraisal correctly and effectively.
Whenever there’s a question about the value of your property, there’s also a risk involved. It may be the risk of selling too low, or of paying too much: the risk of being under or over insured; the risk of not getting your fair share in a division of property; the risk of incurring tax penalties or being audited when calculating estate taxes.
A professional appraiser helps you manage these and other such risks by providing a written opinion of value upon which you can base your financial decisions. Rather than being just an “educated guess”, the professional appraiser’s value conclusions are based upon prescribed methods of valuation, research and report writing.
Bankers, investors, insurers, brokers, trustees, lawyers, judges, government agencies – ALL are dependent upon the knowledge and expertise of the appraisers, and so are you. Too often and too late, people find out that the appraisals they have are inaccurate or misleading, resulting not only in greater risk to themselves, but also a waste of millions out of their pocket.
No two properties are alike, no two appraisals are alike.
Gus Agosto has just passed the Philippine Regulation Commission (PRC) Licensure Examination for Env
ironmental Planner. He is one of the 178 successful, out of 357 examinees. The examination was given last June 9 & 10, 2015.
“It was the toughest examination I ever had”, Gus told his friends and relatives. “Now I can help more in protecting our environment and play an active role in planning issues”, he further said.
Republic Act 10587 stated that “Environmental Planning is also known as urban and regional planning, city planning, town and country planning, and/or human settlements planning.”
Under the said law, the scope of practice of the profession includes providing technical consultation, rendering of technical advice, plan preparation, capacity building and monitoring and evaluation of implementation. Also, preparation of feasibility studies, environmental assessments and institutional, administrative or legal systems. They can also serve as expert witness, resource person, lecturer, juror or arbitrator in hearings, competitions, exhibitions and other public fora.
“Being an Environmental Planner is a big task and a great challenge. It happens when the biggest issues hounding our land were environment and urbanization. I will contribute in planning for the betterment of our people and the next generation”, Gus ended.
PACIFIC PLAZA TOWER
SERENDRA
Appraisal of condominium units in two of the biggest development in the The Fort is a new milestone in our Service Area.
Appraiser Gus Agosto has just rendered appraisal services to the University of the Philippines, Cebu Campus. “It is an honor to be awarded a contract and appraised properties of a prestigious institution like U.P.”, Appraiser Gus Agosto shared.
“Government institutions and agencies are good market for real estate appraisers. Appraisers can explore and participate in government bidding and contracts.” he further said. Last year, he was also part of an appraisal team that provided appraisal services to the Cebu Appraisal Technical Committee on Zonal Valuation of the Bureau of Internal Revenue (BIR).
To succeed, Appraisers should have working knowledge of the Republic Act 9184 or the Government Procurement Act. Every branch or agency of the government through the head of a procurement entity forms a bids and awards committee (BAC) to conduct competitive and transparent purchases by means of public bidding. There are also alternative ways government can make purchases like limited source bidding, direct contracting, negotiated procurement and shopping,
“In winning a government contract, offering the lowest price is not the key. It is knowledge, appraisal experience and excellence in appraisal that matters,” Appraiser Gus ended.
Real Appraisal 