RESA Law - Real Estate Service Act
AN ACT REGULATING THE PRACTICE OF REAL ESTATE SERVICE IN THE PHILIPPINES, CREATING FOR THE PURPOSE A PROFESSIONAL REGULATORY BOARD OF REAL ESTATE SERVICE, APPROPRIATING FUNDS THEREFOR AND FOR OTHER PURPOSES
Wednesday, December 29, 2010
Monday, November 15, 2010
Attention: Real Estate Consultants/Appraisers/Brokers the 1st Batch of registrant without Examination approved by PRC has been released!!!
Congratulations to all those Real Estate Consultants, Appraisers and Brokers that has been approved by the Professional Regulatory Commission. The first batch that has been approved last October 2010 has already been released in public last November 8, 2010 in the PRC website and was also published at Manila Bulletin last November 10, 2010.
It states that 10 Real Estate Consultants, 33 Real Estate Appraisers and 531 Real Estate Brokers applicants were approved for registration without examination by the Examination Committee for Real Estate Service in Manila
The members of the Board of Real Estate Broker are Dr. Eduardo G. Ong, Chairman; Hon. Bansan C. Choa, Hon. Ramon C.F. Cuervo III, Hon. Florencio C. Dino II and Hon. Rafael M. Fajardo , Members.
Registration for the issuance of Professional Identification Card (ID) and Certificate of Registration will start on Tuesday, November 9, 2010 but not later than November 19, 2010. Those who will register are required to bring the following: duly accomplished Oath Form or Panunumpa ng Propesyonal, current Community Tax Certificate (cedula), 2 pieces passport size picture (colored with white background and complete name tag), 1 piece 1x1 picture (colored with white background and complete name tag), 2 sets of metered documentary stamps, and 1 short brown envelope with name and profession; and to pay the Initial Registration Fee of P600 and Annual Registration Fee of P450 for 2010-2013. Registrants are required to personally register and sign in the Roster of Registered Professionals.
The oath taking ceremony will be held before the Board on Monday, November 29, 2010, at 1:00 clock in the afternoon at the Fiesta Pavillion, Manila Hotel, One Rizal Park, Roxas Boulevard, Manila.
Selling of oath taking tickets will be from November 9, 2010 until November 26, 2010 only.
For those who have not yet applied for their licensed, submit your application now and be the next batch to be included in the newly professionalized world of Real Estate in the Philippines
Saturday, October 2, 2010
A look at the RESA Law
Philippine Star
October 1, 2010
By: Atty. Manuel M. Serrano
MANILA, Philippines - Throughout the country real estate developers are up in arms over certain provisions of R.A. 9646, also known as the “Real Estate Service Act of the Philippines” (RESA), which regulates the practice of real estate service in the Philippines, creating for the purpose a Professional Regulatory Board of Real Estate Service (PRBRES) and its subsequent funding.
Much of the protestations stem from Sections 28 (a) and 29 of the RESA Law, which prohibit real estate developers from practicing real estate service in the country. To many developers the practice of real estate service, which includes offering, advertising, soliciting, listing, promoting, negotiating and selling of real estate is not only an integral part of their business but an inherent right. Having invested millions in the development of their projects developers have much to lose in the business and it is only fitting that they provide not only quality products but quality real estate service as well.
More important is the fact that real estate developers have acquired, through years of practice and experience, greater knowledge, expertise, vision and professionalism in providing real estate service. For developers to go to brokers and middlemen, most of whom are in their employ anyway, is illogical, to say the least. Because developers, whether natural or juridical, place greater premium on giving quality service compared with brokers and middlemen whose major interest is to earn as high a commission as possible. That is why developers should be included in the exemption and not be subjected to licensing and registration the law now requires.
From a legal standpoint, the spirit on which the law was premised appears shaky and at best, unconstitutional, because the prohibition is not germane to the subject matter of the RESA Law. First, it is one thing to regulate the practice of real estate, which the law mandates, and it is quite another thing to prohibit developers from engaging in the practice of real estate service in connection with their own properties. The latter is not embraced by the former. This is obviously a violation of Section 26 (1) of Article VI of the Philippine Constitution which states that “every bill passed by the Congress shall embrace only one subject which shall be expressed in the title thereof.”
The prohibition against real estate developers from engaging in real estate service is an unreasonable and unlawful deprivation of their property rights, in violation of Section 1, Article III of the Constitution, which holds, among others, that “no person shall be deprived of life, liberty or property without due process of law.” It also impinges on their right to dispose of their property under Article 428 of the Civil Code.
The RESA Law simply puts developers at the mercy of brokers and middlemen who from the start had no participation in the development and conceptualization of the properties they will be servicing. Thus CREBA is urging the Professional Regulatory Commission to suspend the aforementioned provisions in the RESA which prevent developers from practicing real estate service on their own or as an alternative, exempt real estate developers from the licensing and registration requirements.
(Atty. Serrano is the chairman of the Chamber of Real Estate and Builders Associations Inc. or CREBA)
Philippine Star
October 1, 2010
By: Atty. Manuel M. Serrano
Friday, August 6, 2010
PAREB-PASIG REALTORS BOARD INC. CONTINUING PROFESSIONAL EDUCATION SEMINAR
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For more information, please contact: Manny Florendo-0917.830.7742Olive Ramos-871.6678 Pepe Galvez-0918.925.2637 Raffy Salaveria-211.5754 Diana Delos Reyes-0917.791.1008 | ||||||
Please forward to your Friends and Associates in Real Estate. Thank You. | ||||||
Saturday, July 24, 2010
REPUBLIC ACT 9646 OR THE REAL ESTATE SERVICE ACT OF THE PHILIPPINES IMPLEMENTING RULES AND REGULATION HAD BEEN PUBLISHED TODAY JULY 24, 2010
The much awaited Implementing Rules and Regulations of R.A. 9646 or otherwise known as The Real Estate Service Act of 2009 was published today, July 24, 2010 Saturday in the Philippine Daily Inquirer Classified Adds Section and in Philippine Star Metro Section. After the 15 days of publication, the RESA Law will take effect.
The IRR were all signed by the Professional Regulatory Board of Real Estate Service (PRBRES) and of the Professional Regulatory Commission (PRC).
Congratulations to all Real Estate Consultants, Appraiser, Assessor, Brokers, Sales person and to the Regulatory Board headed by Hon. Chairman Eduardo G. Ong and to its 4 honorable members. August 7, 2010 will be the start of the new Real Estate Industry in the Philippines.
Thursday, July 8, 2010
Real estate board holds hearings to finalize new law
Manila Bulletin
July 5, 2010
The Professional Regulatory Board of Real Estate Service (PRB-RES) has called on real estate brokers, appraisers, assessors and other affected sectors of the Real Estate Service Act (R.A. 9646) to submit their comments on the new law’s proposed Implementing Rules and Regulations (IRR) that is being finalized for implementation by July.
Read more: http://mls-philippines.com/index.php?page=Articles&id=85
Manila Bulletin
July 5, 2010
July 5, 2010
The Professional Regulatory Board of Real Estate Service (PRB-RES) has called on real estate brokers, appraisers, assessors and other affected sectors of the Real Estate Service Act (R.A. 9646) to submit their comments on the new law’s proposed Implementing Rules and Regulations (IRR) that is being finalized for implementation by July.
Read more: http://mls-philippines.com/index.php?page=Articles&id=85
Manila Bulletin
July 5, 2010
Saturday, July 3, 2010
Board sets hearing on RESA rules
Philippine Star
July 2, 2010
Philippine Star
July 2, 2010
July 2, 2010
MANILA, Philippines - The Professional Regulatory Board of Real Estate Service (PRB-RES) has called on real estate brokers, appraisers, assessors and other affected sectors of the Real Estate Service Act ( R.A. 9646) to submit their comments on the new law’s proposed Implementing Rules and Regulations (IRR) that is being finalized for implementation by July next month.
Dr. Eduardo. G. Ong, PRB-RES chairman, said during a public hearing at the First North Luzon Regional Real Estate & Housing Conference of the Chamber of Real Estate & Builders’ Associations, Inc. (CREBA) held on June 11 in Urdaneta City, Pangasinan.
The North Luzon consultation on the RESA IRR was organized by regional vice-president for North Luzon, Phil B. Delfino and hosted by the CREBA-Pangasinan Chapter led by Engr. Leo Sy.
Other speakers in the CREBA conference, aside Dr. Ong, were Chairman Nestor Mangio of the Clark International Airport Corporation, Regional Director Teresita V. Galacgac of the Housing & Land Use Regulatory Board, Director Rodolfo B. M. Bueno of the Department of Agrarian Reform, Land Registration Authority Manager for Land Information One Stop-Shop Engr. Emilio S. Pugongan, Region 1 Environmental Management Bureau Director Joel Salvador and Assistant Chief Cecilia Campos of the Bureau of Internal Revenue’s (BIR) Large Taxpayers’ Division.
Philippine Star
July 2, 2010
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