15/04/2023
Are You Violating The RESA Law?
If you are engaging in the practice of real estate service for properties you do not own, and you are not a duly licensed and registered real estate professional, chances are, you are violating the RESA Law.
Real Estate Service Act: Sino sino ba ang pwedeng magbenta ng lupa? Ano ba ang Real Estate Broker? Appraiser? Consultant? Sino ang mga COLORUM? Alamin!
⚠️Sino ba ang pwedeng gumawa ng Real Estate Transaction gaya ng pagbebenta? Dapat ba lisensyado ang mga ito?
General Rule:
Lahat ng mga pagbebenta ng lupa at pagkuha ng commission or yung professional service fee ay entitled lamang sa mga LICENSED Real Estate Broker. Kung hindi ka lisenyado, o accredited, ay BAWAL KANG Magbenta yan ay naayon sa batas. SUBALIT, may mga exceptions ito:
👉Ikaw ang pwedeng magbenta ng Lupa, Mag advertise ng ibebentang lupa, mag promote sa social media ng ibebenta o binibentang lupa kung IKAW AY:
(Pursuant to Section 28 of RESA LAW)
✅ Ang Registered owner ng lupang binebenta mo, (except sa real estate developers)
✅ ikaw ay Receiver , trustee or assignee in bankruptcy or insolvency proceedings.
✅ May court order ka galing sa any court of justice
✅ Public Officers in their performance of their official duties and functions except government assessors and appraisers.
✅ Ikaw ay may SPA galing sa registered owner para magbenta, mortagage, mag lease or exchange or other similar contracts or real estate PERO it should be WITHOUT Requiring any form of compensation or remuneration.
Kahit ikaw ay abogado pa, engineer or architect, at hindi ka Licensed Real Estate Broker or Accredited Salesperson, ikaw ay BAWAL mag benta ng lupa kung hindi ka kasali sa mga exceptions na binigay ng batas. Kung ikaw ay magbenta pursuant sa SPA , ikaw ay bawal mag demand ng commission or bayad sayo. Hindi mo mapipilit ang may ari ng lupa na mag bigay sayo ng commission kung ikaw ay unlicensed or hindi accredited salesperson.
⚠️Can foreigners practice real estate services in the Philippines?
Generally, no. However, the law does state an exemption: foreign reciprocity. Section 24 of RA 9646 stipulates that foreigners are prohibited from the practice of real estate services in the Philippines, although it also says that this rule shall not apply if the country where the foreign applicant is from allows Filipinos in the real estate service industry to practice within its territory as its own citizens would.
⚠️ What does RA 9646 prohibit?
Section 29 prohibits the practice or the offer to practice real estate services or to offer yourself as a real estate service practitioner if you have not been licensed by the PRC (except those who are covered by the RESA Law’s exemption).
⚠️ THE AUTHORIZED PERSONS TO ACT IN THE REAL ESTATE CORPORATION SHOULD BE ALL LICENSED PROFESSIONALS.
Section 32. Corporate Practice of the Real Estate Service
(a) No partnership or corporation shall engage in the business of real estate service unless it is duly registered with the Securities and Exchange Commission (SEC), and the persons authorized to act for the partnership or corporation are all duly registered and licensed real estate brokers, appraisers or consultants, as the case may be. The partnership or corporation shall regularly submit a list of its real estate service practitioners to the Commission and to the SEC as part of its annual reportorial requirements.
There shall at least be one (1) licensed real estate broker for every twenty (20) accredited salespersons.
(b) Divisions or departments of partnerships and corporations engaged in marketing or selling any real estate development project in the regular course of business must be headed by full-time registered and licensed real estate brokers.
(c) Branch offices of real estate brokers, appraisers or consultants must be manned by a duly licensed real estate broker, appraiser or consultant as the case may be.
Ang pagiging Real Estate Broker, Real Estate Appraiser at Real Estate Consultant ay isang profession na regulated by the Professional Regulations Commission gaya ng ibang profession na pagiging doctor, engineer , architect at iba pa. Kelangan ng Lisensya upang maipractice ito.
Kung wala silang PRC ID as Real Estate Broker or Accredited Salesperson, yan ay iyong gabay na dapat maingat sa pag transact sa kanila.
Ang pagiging Real Estate Professional ay hindi lamang pagbebenta, ito ay isang profession.
