RP’s real estate brokers beef up info campaign on RESA Law

October 27, 2010

DAVAO CITY — The Real Estate Brokers Association of the Philippines (REBAP) Davao chapter has beefed up its campaign on the Republic Act 9646 or the Real Estate Services Act (RESA) of the Philippines to guide both the public and the brokers better understanding of the amendments of the law. REBAP Davao chapter vice president Winstone V. Pulido said they welcome the law as it will continually professional their sector.

He said with the number of unlicensed brokers operating in the island, RBAP do not have way to monitor the activities of some of these sellers.

The new law is beneficial to the buying public of transacting as they will be shielded from transacting to unregistered brokers that led overpricing of the property and engage in unethical practices.

He said the government has been taking serious steps to provide protection for property buyers and they see this as a good step for them to be encouraged to invest more in Philippine real estate.

The law states that a licensed broker is allowed to have under him only 20 sellers but the practice before the approval of the new law was many real estate projects had only one or two registered brokers with 200 to 300 sellers.

He said with RESA, the practice of real estate broker will now be regulated even as he said that a broker before he or she will be allowed to take the real estate brokers examination for licensing need to acquire 24 units under the continuing education program (CEP) and this arrangement will be honored for the 2011 examinations.

By 2012, prospective examinees need to comply 120 units under the CEP, he said.

The legitimate practitioners of brokering as a business are subjected to fees and taxes while a good number of “fly-by-night” brokers that would number to about 2,500 in Davao City alone escape government regulations and payment of taxes and fees, he said.

“And this would some up to millions of losses of government in the form of taxes as most unlicensed brokers charge 5 percent commission,” he said.

The RESA Law is in support to professionalize and regulate the practice of real estate in the country through the development of technically competent, trained and accountable real estate practitioners.

The law defines that real estate broker is a duly registered and licensed natural person who, for a professional fee, commission or other valuable consideration, acts as an agent of a party in a real estate transaction to offer, advertise, solicit, list, promote, mediate, negotiate or effect the meeting of the minds on the sale, purchase, exchange, mortgage, lease or joint venture, or other similar transactions on real estate or any interest therein.

Pulido said the REBAP supports the information dissemination campaign of the Professional Regulation Commission (PRC) and the Bureau of Internal Revenue (BIR) to reach out to as many brokers to have themselves get licensed and legalized their profession.

Pulido said although this will be a huge task ahead, the passage of the RESA Law is a good start to professionalize their sector and at the same time protect the interest of the public from unscrupulous agents.

With the real estate industry in Davao City hitting a positive growth, he said, a lot of real estate development is opening up in the city especially that there is a demand for houses here from the neighboring regions wanting to locate here.

Meanwhile, he said brokers who will attend the First Mindanao Real Estate and Housing Conference in Davao City scheduled on Oct. 5 to 6 will earn units and credited under as allowed by PRC. (PNA)
LDV/PDDB/lvp

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DILG urges Mindanao officials to support first real estate, housing conference in Davao City

October 1, 2010

Sept. 29 (PNA) — The Department of Interior and Local Government (DILG) is urging Mindanao officials to support the holding of the First Mindanao Real Estate and Housing Conference in Davao City on October 5 to 6 at the SM City Event Center.

Chamber of Real Estate & Builders’ Associations, Inc. (CREBA) Davao Chapter president Carlos Vargas said DILG Secretary Jesse M. Robredo encourages the island’s chief executives to participate in this activity.

Vargas said Robredo issued Memorandum Circular No. 2010-102 addressed to provincial governors, city mayors, municipal mayors, DILG regional directors of Regions IX, X, XI, XII and CARAGA to participate in this activity as it will highlight best practices in green development, community-based alternative sources of energy and green financing.

The CREBA-sponsored conference is co-hosted by DILG and the Environment Management Bureau XI with the theme “Challenges of Global Warming on the Real Estate Industry.

Green Development our contribution to our future”. He said main speaker of the conference is Dr. Michael E. Nunez, CREBA vice president for Green Technology and Sustainable Development who will discuss New Approaches to Green Technology and Sustainability in Real Estate.

Other topics include Best Practices in Green Technology where Alsons Development Corp., Uraya Land, and Kisan Lu Devt. Corporation as presentor for “Green Developer”, Adtel Inc. Member Lopez Group of Companies as presentor for “Energy Provider” while Engr. Nazario Cacayan, executive director YAMOG Inc. as presentor for “Community Based Renewable Energy Development (Micro Hydro, Solar Power, etc.)” and B. Brillo L. Reynes, DBP-Senior Vice President for “Green Financing for Developers and Local Government Units”.

Secretary General Nestor Borromeo of the Housing and Urban Development Coordinating Council (HUDCC) is invited to brief stakeholders of the agency’s priority plans and programs to be followed with a roundtable discussions on housing concerns with the government’s shelter agencies namely Housing and Land Use Regulatory Board, Pag-IBIG Fund, Socialized Housing Finance Corporation, National Housing Authority, Land Registration Authority and Environment Management Bureau.

Also invited is Davao City Mayor Sara Duterte-Carpio who will deliver a message. The manifesto for housing concerns will also be presented by CREABA to the mayor.

Davao City planning officer Roberto P. Alabado III will brief the participants of the city’s planning of Sustainable Residential Communities.

The other topics are “Basic PINOY Green Bldg. Technology” to be discussed by Jesus B. Pring, Jr., chief executive officer of AGTECHPIN, Inc., Products and Services for the Real Estate Industry and local government units (LGUs) by Simonette C. Ngosiok, SME Community Consultant PLDT SME-Nationa Vis-Min Operations, New Software for Real Estate Application by Cecille Sibayan, ABM Computech Enterprises, Inc.

The chairman of the Professional Regulatory Board of Real Estate Services Eduardo G. Ong will discuss Republic Act 9646 or the Real Estate Service Act of the Philippines. (PNA) LAP/Digna D. Banzon