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You may be eligible to receive compensation if you (1) sold a home during the Eligible Date Range; (2) listed the home on a multiple listing service anywhere in the United States; and (3) paid a commission to a real estate agent or broker in connection with the sale of the home.
The Real Estate Service Act (RA 9646) sets forth several crucial provisions that define the practice of real estate service in the Philippines, the regulatory body overseeing the industry, and the licensing and registration requirements for professionals.
(c) “Real estate” refers to the land and all those items which are attached to the land. It is the physical, tangible entity, together with all the additions or improvements on, above or below the ground. (d) “Real estate development project” means the development of land for residential, commercial, industrial,
- What Are The Qualifications Required Under Ra 9646?
- Does Passing The Licensure Exam Automatically Lead to Registration?
- Who Is Exempted from The Application of The Law?
- Can Foreigners Practice Real Estate Services in The Philippines?
- Can My License Be Suspended Or Revoked?
- What Does Ra 9646 prohibit?
- What Are The Penalties For Violating Ra 9646?
- Who Regulates and Implements The Resa Law?
All applicants must be Filipino citizens, although the law, in this case, does not distinguish between natural-born and naturalized Filipino citizens. In addition, they must have a college degree (or at least 2 years of college education for salespersons) and have not been convicted of any crime. In addition to the above-mentioned requirements, con...
The PRC may deny your application for the real estate service profession, even if you have passed the licensure exam. The three most common grounds are the following: First, if you have been convicted by a court of law of any criminal offense. Second, if you, upon investigation by the PRC, have been found guilty of immoral or dishonorable conduct. ...
Section 28 of the RESA Law stipulates that the following are exempted from the application of its provisions. First are owners of real property (or private owners), as they are not required to have a license in order to sell their own property. However, this does not include real estate developers, because they are regulated by the Housing and Land...
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 servic...
The PRC may revoke your certificate of registration and professional ID for a number of reasons. First, if you got your license through fraud or deceit. Second, if you allow an unqualified person to advertise or practice the profession using your own certificate, ID card, or permit. Third, if you engage in unprofessional or unethical conduct. Fourt...
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).
Section 39 stipulates that any violation of the RESA Law, including violations of its Implementing Rules and Regulations, shall be penalized with a fine of not less than Php100,000 or imprisonment of not less than 2 years, or both. If the offender happens to be unlicensed, the aforementioned penalty is doubled (Php200,000 and/or 4 years’ imprisonme...
The Professional Regulatory Board of Real Estate Service was created under the administrative control and supervision of the Professional Regulatory Commission (PRC) to regulate and implement RA 9646 for the real estate practitioners covered by the law. The board is vested with functions and powers to: 1. Conduct licensure exams; 2. Provide compreh...
No 9646, all existing and new positions in the local and national governments, whether career, permanent, temporary or contractual, primarily requiring the services of a real estate service practitioner, shall be filled only by registered and licensed real estate service practitioners.
Jun 1, 2022 · Through Republic Act No. 9646 (RA 9646), the state 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 ...
Sep 9, 2023 · RA 9646 promotes consumer protection by requiring real estate professionals to provide accurate and truthful information to clients. It also establishes a mechanism for consumers to file complaints and seek redress in case of any issues with the services they receive.
