Monday, May 27, 2019

Impact of Republic Act 9649 or RESA Law in Real Estate Industry


REBAP Greenhills Chapter is the host chapter of this event

Recently we were invited on the 1st National General Membership Meeting at Real Estate Brokers Association of the Philippines in Le Pavillion, Pasay City last 9th of April 2009. We were honored and privileged to have Professional Regulation Board of Real Estate Services (PRBRES) Chairperson Dr. Pilar Torres-Banaag in person on the updates on the practice of Republic Act 9646 or Real Estate Service Act of 2009 also known as RESA. 

Dr. Banaag stance was to educate people on the this law which is already 10 years in effect with the effectivity of the Implementing Rules and Regulations (IRR) back in 10th of July 2010 (see link) on our first organizational event for 2019.



This is a warning to all practitioner who are not licensed or not even accredited as real estate salesperson here in the Philippines. At this time there were are number of people already filed with cases with PRC Legal offices and a task force anti-colorum initiated by the stakeholder real estate organizations and individuals have also spearheaded this momentous task of cleaning and policing the profession.


In hindsight, these real estate organization like Real Estate Brokers Association of the Philippines (REBAP), Philippine Real Estate Board (PAREB), Philippine Association of Real Estate Consultants & Specialist (PARCS) are here to adhere to the ethical standards and moral practice of real estate in the Philippines with the vision of professionalizing the real estate practice through seminars and training accredited and approved by the PRC - PRBRES. 


 

The bottomline of the policing  of these organizations is to establish standards, promote sound business practice in this industry and lessen the unlicensed practitioners from practicing the profession by providing them alternatives in becoming accredited real estate salespersons by the Professional Regulation Commission (PRC).


TESDA and PAREB teamed up in establishing 

Recent developments happening around the industry through  Philippine Association of Real Estate Board (PAREB)  initiated a proposal for a standard curriculum for prospective real estate salesperson who have not completed at least second year of college requirement for their accreditation in the Professional Regulations Commission - Professional Board of Real Estate Services (PRC - PRBRES). The proposed curriculum is therefore a good example in streamlining and legitimizing the profession against unscrupulous person who have tarnished the profession in the past decades.

This initiative will serve its purpose of legitimizing the hundreds to thousands of practitioner who are illegally practicing the profession without license or involved in real estate scam that proliferated in the number of years.

However, there is no meeting of the minds yet with agency tasked to oversee this initiative from Technical Education and Skills Development Authority (TESDA), Commission on Higher Education (CHED) and Professional Regulations Commission - Professional Regulatory Board  in Real Estate Service (PRC-PRBRES)

About the Writer


CRB Benedict Baluyut is a professional real estate broker, real estate appraiser and associate of C. F. Baluyut Realty. He is currently the Vice President for External Affairs, Real Estate Brokers Association of the Philippines, Inc. (REBAP) - Pampanga Chapter. You can get in touch with him at https://www.cfbaluyutrealty.com.



Related Post:


Caveat Emptor: Is Your Real Estate Professional a Licensed / Accredited Practitioner? 
Republic Act 9646: The Real Estate Service Act of 2009
The 1st Real Estate Salesperson Training Seminar to be held in City of San Fernando, Pampanga by REBAP Pampanga Chapter!

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