THE Chamber of Real Estate & Builders Inc. seeks to amend certain provisions in the Real Estate Service Act which it views as deleterious to real estate practitioners.
The Real Estate Service Act (RESA) or R.A. 9646 was enacted into law in 2009 with the aim of professionalizing the practice of real estate in the Philippines.
Under the law, the licensing and regulation of real estate brokers, appraisers, assessors and consultants as well as the registration of agents or salespersons were transferred to the Professional Regulation Commission (PRC) from the Department of Trade and Industry (DTI).
In a statement, CREBA national president Charlie Gorayeb said the general objectives of the RESA law are clear. However, there are some provisions that are less acceptable.
“The title and objectives of the law are clear and specific. Surprisingly, the subsequent provisions extend beyond regulation of the real estate service practice,” Gorayeb said.
“Even developers are now being regulated against selling their own projects.”
Gorayeb was referring to Section 28 of the law, which states that provisions of the law and its rules and regulations shall not apply to any person, natural or juridical, who shall directly perform by himself the acts of a real estate service practitioner with reference to his or its own property, “except real estate developers.”
“The prohibition for developers to sell their own properties is counter-productive and puts landowners at a very disadvantageous position,” Gorayeb said.
Meanwhile, CREBA national chairman Noel Toti Cariño assailed the discriminatory scholastic requirements for real estate salespersons before they can get accredited and registered by the Professional Regulatory Board of Real Estate Service (PRB-RES).
He noted that this would hugely affect the thousands of individuals who are earning a decent living from legitimately offering real estate before RESA came into law.
“We will be depriving these poor individuals the chance to partake in the economic benefits of real estate. Many of them have been there working for so long, and then they will be suddenly cut off because they cannot qualify for registration,” Cariño stressed.
To remedy this, CREBA suggests reducing the academic requirements for salespersons, provided that they undergo formal training or are certified to possess the ample experience by the licensed broker supervising them.
Similarly, the group also aims to remove the policy limiting the supervision of only 20 salespersons per licensed broker.
“There is no necessity for such limit as any broker will only handle as many salespersons under his supervision as he can manage because the burden and responsibility for the acts of such salespersons bears upon his shoulders, and his own license,” CREBA said.
Similarly, Gorayeb also pointed out Sec. 34 of the law which has, for many years, sowed division and confusion among stakeholders on the matter of the “accredited and integrated professional organization” and its intended nature.
“The group also bats for a clear statement clarifying that the requirement for real estate brokers to register under the Housing and Land Use Regulatory Board (HLURB) by virtue of Presidential Decree 957 promulgated in 1975 has been superseded by RESA as an effect of the takeover of the PRC on all licensed real estate professionals,” CREBA said.
To strengthen its move to amend the said provisions, CREBA will be holding a forum to educate the industry on its proposed revisions.
Resource speakers will be Rodolfo Valencia, former chairman of the committee on housing in the House of Representatives and Dr. Eduardo Ong, chairman of the Professional Regulatory Board for Real Estate Service (PRB-RES).
The forum will take place on March 18, 2016, Friday at the Metropolitan Club from 2 p.m. to 5 p.m.