ADB hires Agosto as Consultant

ADB-logo-1543342036The Asian Development Bank has recruited AB Agosto as a Consultant Housing Market Specialist. The objective of the consultancy is to assist ADB in developing a framework to expand credit availability to the socialised and economic housing segments in the Philippines.

The Innovative Housing Project which is part of the support to the Association of Southeast Asian Nation Economic Community. It started last April 15, 2019 and will end in June 30, 2019.

ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members—48 from the region.

Agosto speaks in Iloilo

“You should know the relation of selling and ethics. The former will provide you the livelihood that is well-rewarded, the latter will separate the chaff from the grain.”

Gus Agosto lectures in Iloilo to equip practitioners with the knowledge on the fundamentals of real estate and the role of ethics in the profession.  It was held in Regatta Hotel, Iloilo and hosted by the Iloilo City Real Estate Board.

Agosto has been teaching and lecturing real estate both in the academe and in the profession. With almost 100 participants in the seminar, the discussions were lively and based on actual experiences of the participants.

Besides Iloilo, the seminar participants came from different provinces in Panay Island. It includes participants from Aklan, Antique and Capiz.

 

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Industrial Warehouse Appraisal in Cavite

FCIEAA Appraisal recently just appraised an industrial warehouse building in First Cavite Industrial Estate, Dasmarinas, Cavite. The property was constructed in 1978 and is 100% owner-occupied. The property totals 13,240 square meters and is situated on a 18,206 square meters site. The property features 18′ clear heights, grade-level loading doors and 10% office finish. This commercial real estate appraisal was conducted for market value purposes and will help the on-going real estate transaction.

The FIRST CAVITE INDUSTRIAL ESTATE ASSOCIATION, INC. is 154.5 hectares. “Industrial Subdivision” built to service all basic needs of any manufacturing concern of the light-to-medium scale industry.

Situated in Langkaan, City of Dasmariñas, the estate currently has 148 companies operate in the zone.

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In other related development, AA Appraisal was hired to appraised a 2-storey commercial arcade property in Tandang Sora, Quezon City. The property was built in 2010 and contains a total of 24 units. This commercial real estate appraisal was conducted for a law firm based in Ortigas, Mandaluyong City.

Professor Gus Agosto Speaks in Ateneo Grad School of Business

Image result for ateneo mba regisProf. Gus Agosto from AA Appraisal & Consultancy gave insight on the Investing Highlights in Cebu Real Estate Market at the Ateneo de Manila-Graduate School of Business, Cebu City Campus.

“Real Estate investing is not only vibrant in Cebu but also has a new tool to look on in the next two years. The different segments and geographical location of properties have been surging in the last ten years.” The opening of Mactan Cebu International Airport Terminal II, and the influx of tourist created a bigger demand for hotels and other hospitality enterprises. The retail sector have been unstoppable on building malls and community retail. The industrial sector expanded with the entry of more and more locator in the Export Processing Zones.”

“The next two years will be shaped by the current infrastructure programs unleashed by the present administration. The opening of Cebu-Cordova Bridge in 2021, New Container Port Terminal in Consolacion Cebu and the continuing renovation and expansion of routes of the Mactan Cebu International Airport,” Agosto explained.

AA Appraisal & Consultancy – as a comprehensive real estate services firm not only provides expertise in real estate investment and appraisal but also act as a specialised research firm for property projects.

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Professor Gus Agosto stressing the market situation and real estate investment in Cebu.

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Professor Gus Agosto receiving a certificate of appreciation and token from the MBA-Regis Students of the Ateneo de Manila Graduate School.

 

Big turnout at Complex property valuation seminar in Cebu

Appraiser Agosto, lectures on Complex Property Valuation-Valuation Masterclass II. The seminar workshop, held in Castlepeak Hotel in Cebu City,  was organized by PAREB Cebu Real Estate Board.

The seminar participants reached to more than 80 real estate practitioners, including real estate appraiser and brokers not only from Cebu but also from Negros, Cagayan de Oro and Leyte.”I was stunned by the turnout of participants”, Gus told the organizers of the seminar. “It just showed that practitioners values the seminar”.

In the 2-day lecture, participants learned from different case studies actual application of solving appraisal problems using discounted cash flow method, opportunity cost, replacement value and market studies on township development.

“Thank you for sharing your expertise on us”, one of the participant shared in the lecture room. “Very knowledgeable in the topics discussed”, another participant shared.

The valuation masterclass is a project of PAREB Academy for its members. Its objective is to raise the level of PAREB Appraiser-members professional practice through seminars, workshop and provide linkages through appraiser’s directory.

Appraiser Gus Agosto has conducted lectures already in different areas of the country. Hosted by different local board, he traveled Iloilo City, Dipolog City, Cagayan de Oro, Pasig, Caloocan, Lucena, Puerto Princesa, Baguio, and other areas.

 

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NHA hold Real Estate Seminar

National_Housing_Authority_(NHA).svgNational Housing Authority’s (NHA) Estate Management Department, in coordination with the University of San Carlos Center for Continuing Education and Enterprise Development (CEED) conducted a seminar on Real Estate Management. It was held in the Law Building of the University of San Carlos in Cebu City.

Prof. Gus Agosto, faculty of Real Estate Management discussed topics on Cebu Property Market: Updates and Trends and Real Estate Valuation. The Seminar was attended by participants from the NHA’s Estate Management Department.

“I am glad our main government agency that provide housing to our people is providing seminars for the development of their employees,”  Appraiser Gus Agosto said. “The participants were well versed in the disposition and provision of housing projects to the people.”

NHA was tasked to develop and implement a comprehensive and integrated housing program which shall embrace, among others, housing development and resettlement, sources and scheme of financing, and delineation of government and private sector participation.

Meanwhile, Center for Continuing Education and Enterprise Development (CEED) offer public and in-house training courses to make businesses competitive and sustainable, research for new theories and knowledge, and consultancy services to the industry, government, academe, and non-profit organisations.

 

 

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Letter to the editor on Valuation Profession

Dear Editor,

This is in response to the article of Mr. Ramon Clarete  published on 6 January 2019 on Property Valuation Service: Are we losing competitiveness?

I thank Mr. Ramon Clarete for his interest in our work and for the stimulating comments which highlights our profession and offer a broader perspective. I am certainly in agreement with the writer  on the role of property valuation to economies in weathering crisis.  However, I was appalled on some points of his letter and allow me to comment. His assertion on the maturity of the real estate appraisal profession; quality of service and the valuation standards are quiet disturbing.

Real estate appraisal in the country is in its infancy stage, as a profession. Even though it started in 1961 but it was considered as a trade rather than a profession. However, on July 2009, the passage into law of the Republic Act 9646 or the Real Estate Service Act of the Philippines (RESA), real estate appraisal has been recognized as a profession and strengthened.

Mr. Clarete pointed his pen on the 90% of the appraisers. He consistently mixes the know-how in real estate practice and the quality of service. However, Mr. Clarete misses the point.  The number of appraisers might triple in number, but the question is do the opportunities to practice the profession also tripled?

 

To practice the profession, appraisers have been subjected to different barriers that only few can endure. Take for example the government projects under President Duterte, the Department of Public Works and Highways required appraisers to have an accreditation with the Bangko Sentral ng Pilipinas to qualify in a bidding.  BSP has its own criteria in evaluating of appraisers outlined in their guidelines “BSP Acceptable Appraisal Companies for Ocular Inspection and Appraisal of Real Estate Properties”. To be part of the list, the appraiser or the appraisal company must comply with certain criteria to be accredited. One of which is the setting of company net worth to P 4 Million; and the other one is the setting of ten (10) years’ experience in real estate appraisal business as a requirement to manage and sign the appraisal report.

Securities and Exchange Commission, Energy Regulatory Commission other government agencies and even commercial banks have their own guidelines and requirement. It is not surprising that only 11 companies, as of December 31, 2017, were accredited by the Securities and Exchange Commission, and 22 under the BSP.

In the broader context, these accreditation requirements and non-implementation of certain provision of Real Estate Service Act have a multiplier effect to appraisal practice. Negating the appraisers of the opportunity to participate in government projects and practice their profession. And it has been 10 years now.

On the International Standards.  Mr. Clarete should never forget that the International Valuation Standards was adopted and prescribed as the reference standards in the country only on October 2009, by prescribing the Philippine Valuation Standards. It is only since then that the country laid down the foundation, through education and training, in developing the capability of property appraisers in the country to be at par with other countries. Thus, appraisers now are attending international seminars and conferences to learn best practices of other countries and also share our situation and experiences. In an increasingly globalised world, the consistency and compatibility of standards across jurisdictions is an important issue

The valuation practice and standards in the appraisal are intertwined. Theories will remain a theory if it will not be applied. Provide the appraisers with the venue to practice their profession, and they will surely rise to a new and higher level of professional practice.

We should endeavour in helping real estate appraisers to developed and fulfil its role in the economy, society and our people and be globally competitive in professional practice and standards. #

 

Read here:

https://www.bworldonline.com/letter-to-the-editor/?fbclid=IwAR0roGpyewKd7A_rTR4e89ToWgzjV9RR10TLElEADUCzLXCJr5DhMpUrWQw