RESA in Action

04/12/2023

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Grounds for suspension and revocation of Certificate of Registration and Professional Identification Card

Section 19 of RESA law provides that, “the board may, after giving proper notice and hearing to the party concerned, revoke the certificate of registration and the professional identification card, or cancel the special/temporary permit of a real estate service practitioner, or suspend him/her from the practice of the profession on any of the following instances hereunder:

(a) Procurement of a certificate of registration and/or professional indentification card, or special/temporary permit by fraud or deceit;

(b) Allowing an unqualified person to advertise or to practice the profession by using one’s certificate of registration or professional identification card, or special/temporary permit;

(c) Unprofessional or unethical conduct;

(d) Malpractice or violation of any of the provisions of this Act, its implementing rules and regulations, and the Code of Ethics and Responsibilities for real estate service practitioners; and

(e) Engaging in the practice of the profession during the period of one’s suspension.”

04/12/2023

The RESA law was officially implemented last July 30, 2009, and it regulates the world of real estate, real estate service practitioners, and any real estate transaction. This overlooking and ruling goes from the penalties corresponding to violations of its provisions to the qualifications of those who may practice the profession. In order to address more raised concerns from the past, the law is also meant to prevent the practice of “colorum”. For those who have yet to be introduced to this Filipino slang word, colorum refers to the black market or to the unlicensed, unregistered, fake dealers and businesses. Unfortunately, there are so-called real estate brokers and property dealers who pretend to be real ones in order to get their hands on your hard-earned money and run away with it as well as to avoid paying taxes and proper commission rates. Sadly, this was a trend years back. Thankfully, there is such a thing called RESA law now which protects any individual from scams like these.

Like, react and share this post and page. Let us professionalize the real estate industry for the common good of all Filipino people.

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03/12/2023

Hello friends, kindly click the picture and pa-like/heart react po. Group project lang po. Pakilike na rin po ang page and share.

02/12/2023

Profile Cover Explained:

With the enactment of Republic Act No. 9646 otherwise known as the Real Estate Service Act of the Philippines or RESA, the law professionalize the real estate service practice and added a protection to real estate investors by equipping the practitioners with technical knowledge and reinforces good ethics to all professionals.

We wish to emphasize the very essence why Republic Act No. 9646 was created.

Section 2 of the law states that, “The State recognizes the vital role of real estate service practitioners in the social political, economic development and progress of the country by promoting the real estate market, stimulating economic activity and enhancing government income from real property-based transactions. Hence, it shall develop and nurture through proper and effective regulation and supervision a corps of technically competent, responsible and respected professional real estate service practitioners whose standards of practice and service shall be globally competitive and will promote the growth of the real estate industry.”

In other words, regulation of the real estate service practice is an additional source of revenue for the Government in the form of taxation. Not only that, with the proliferation of real estate developments across the nation, it is high time that the profession must be regulated in order to prevent real estate investments scam by creating a venue for complaints and determine liabilities for the practitioners.

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Like, react and share this post and page. Let us professionalize the real estate industry for the common good of all Filipino people.

29/11/2023

Like, react and share this post and page. Let us professionalize the real estate industry for the common good of all Filipino people.

29/11/2023