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.
Real Estate Sales persons are not part of this celebration please try to check their definition. its so degrading and humiliating.
ReplyDeleteThis Act is an over-kill for the real estate practitioners. So many laws are there already that protect the buying public.
ReplyDeleteHow about the protection of the Brokers from Developers/Sellers that does not pay commission? Is there any law that will protect us too? The Civil code of course but the process is too far fetch, can we wait ten years or more for the resolution of the case.
Many Filipinos who are licensed real estate practitioners and working/living abroad will be losing their licenses or cannot register for their licenses because of no CPE under this RESA Law. Can the PRB-RES or Board come up with a fair ruling on their situations before July 30, 2011? Can they provide access to seminars for them abroad or online? If not, could they defer this requirement for sometime and be registered for now pending this requirement?
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