Professional Regulatory Board of Real Estate Services Introduced
Last March 26, 2010, the new board members and the chairman of the Soon-to-be-formed Professional Regulatory Board of Real Estate Services were just inducted. This simply means that in near time, the law which requires all Real Estate practitioners and salesmen to have a Professional License (Republic Act 9646, or now more commonly referred to as the Real Estate Service Act or RESA), will soon take effect. All Real Estate Brokers will have to comply with this Real Estate Service Act, whether they like it or not…
It’s about time that the Professional Regulatory Commission (PRC) included Real Estate Agents to the same group which includes lawyers, doctors, architects, and other professionals alike. These people are very well-respected in society because their skills and abilities are considered to be very rare and useful to us. It’s about time that people treated us Real Estate Agents in the same way: as Professionals who are highly-regarded because we offer services which take time to develop, and which cannot be done by the ordinary person.
I say this because we real estate brokers are sometimes abused and maltreated by property sellers and buyers alike. Some sellers compromise their agents’ commission just so they can squeeze out additional profits, and some buyers ask for rebates from agent’s commissions to squeeze out additional discounts. Clearly, these practices are immoral, and the Professionalization of Philippine Real Estate Practitioners will help reduce and even eliminate these unethical practices.
I myself have been victim to such, and most of my colleagues will sympathize with me. We are quite frustrated with the way some people have been maltreating us Real Estate Agents. Of course, I cannot blame these people because there are some Real Estate Brokers who are indeed unprofessional and are headaches to deal with. Therefore, all people concerned should be very happy that this RESA law is finally being implemented – because all Philippine Real Estate buyers, sellers and brokers alike would all benefit greatly from this upgraded standard for real estate trasnactions.
More power to the Professional Regulatory Board of Real Estate Services , and Happy Easter to everyone! May God be with us all 
*Credits to the Philippine Star Article written by Roger Garcia last March 26, 2010 for this Post
Tags: professional regulatory board of, Real Estate Service Act, Republic Act 9646, RESA
This was a greate article , thanks for information.
Your welcome
Thanks for the info. However, I have a question. I’m not exactly an agent. I’m more of a sales rep. Do I still need to get a license? Thanks. Reply via e-mail.
Eventually… Yes you have to, especially when the Board enforces this law and creates an Enforcing Body to make all of us comply
Thank you very much for your timely response. I guess I may have to get ready for the application.
It would be helpful if you can write an article about how to get a license, what are the steps or procedures, the fees, and how long would it take. Thanks again.
For now the board has suspended applications for getting a Real Estate Broker’s license. They will be coming up with new rules soon, so just stay tuned…
It will probably involve a licensure exam and submitting some ID’s and some fees
Hi Admin, please help me. I’ve been selling for a developer here abroad. The developer accused me of bad politics which is not true. They dont want to release my commissions. What can i do? Any suggestions will be highly appreciated. Salamat!
The developer is based in the Philippines. We are selling their properties here abroad for OFWs. Im sure there are laws that protect agents about this kind of treatment from developers. Thank you.
do we have any law protecting agents and brokers against developers who doesnt give their commissions?
Im not sure, but there should be one… Let’s try asking around
It’s about time that we have this law. I believe the implementing rules for the RESA law have already been published?
Where may I ask? Any link you have? Youinput is highly appreciated by all of us…
The RESA rules can be downloaded from here: http://www.foreclosurephilippines.com/2010/07/resa-irr-full-text-published.html . I searched the PRC site for the original copy, but couldn’t find it. Certain forms for real estate brokers, etc., however, are available on the PRC site.
this is a great guide.. as real estate business is so big.. there should be more guideline and law to protect real estate agent..
AGREE pare
to protect us, and to protect our clients also…
Great. Very informative, helping us to know about laws protecting real estate agent.
Thanks
Its about time that we brokers get our fair share for our hardwork dba?
hi, i have read about the PRC Licensure Exam Requirements per documents to be submitted:
1. Original and photocopy of Birth Certificate or Certificate of Live Birth (NSO) and / or valid Philippine passport, or any other proof of citizenship,
2. Original and photocopy of transcript of records and / or diploma with scanned picture,
3. Original and photocopy of notarized certification by employer of his/her years of experience or pre-requisite. Certificate of Registration (COR) and / or Professional Identification Card (PIC) or DTI license (for real estate consultants),
4. Original and photocopy of NBI clearance,
5. Original and photocopy of duly notarized accredited seminar and / or training certificate,
6. Community tax certificate,
7. Four (4) colored passport size pictures with white background and complete nametag and other documents in accordance with the requirements of this provision.
My question is for requirement #3, are the items enumerated in #3 only required for examinees of real estate consultants? Meaning, #3 is not required for those who will be taking the exam for examinees real estate brokers?
“Original and photocopy of notarized certification by employer of his/her years of experience or pre-requisite. Certificate of Registration (COR) and / or Professional Identification Card (PIC) or DTI license (for real estate consultants)”
also, when is the next exam after the 27th of march?
thank you very much in advance
Thank you for the information
Im afraid your questions can be answered by PRC. Try going to their website or calling their hotline
good day! we would like to ask for a more detailed requirements on taking the real estate exam and its examination schedule. Last March 22, 2011. We were given by the prc a temporary sched this coming may 29, 2011. However, as to requirements (other than the standard requirements set forth by the prc) was still not cleared since they did not receive any from pbres. Thanks for the time.
You should ask them about that
Im just another broker like you
Great information. I have been in the business for quite a while. My enthusiast in real estate is brought about by my sister who is a licensed broker. Its about time that brokers and agents get their fair share for their hard work. Mahirap din naman mag mall and site manning.
Yes pinagdaanan ko rin yan, tama ka mahirap nga
Thanks for the comment!