Republic Act No. 9646
AN ACT REGULATING THE PRACTICE OF REAL ESTATE
SERVICE IN THE PHILIPPINES, CREATING FOR THE PURPOSE A PROFESSIONAL REGULATORY
BOARD OF REAL ESTATE SERVICE, APPROPRIATING FUNDS THEREFOR AND FOR OTHER
PURPOSES
Section 1
Title
This Act shall be known as the "Real Estate Service Act of the
Philippines".
Section 2
Declaration of Policy
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.
Section 3
Definition of Terms
As used in this Act, the following terms shall mean:
(a) "Appraiser" also known as valuer,
refers to a person who conducts valuation/appraisal; specifically, one who
possesses the necessary qualifications, license, ability and experience to
execute or direct the valuation/appraisal of real property.
(b) "Assessor" refers to an official in
the local government unit, who performs appraisal and assessment of real
properties, including plants, equipment, and machineries, essentially for
taxation purposes. This definition also includes assistant assessors.
(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, agricultural,
institutional or recreational purposes, or any combination of such including,
but not limited to, tourist resorts, reclamation projects, building or housing
projects, whether for individual or condominium ownership, memorial parks and
others of similar nature.
(e) "Real estate developer" refers to any
natural or juridical person engaged in the business of developing real estate
development project for his/her or its own account and offering them for sale
or lease.
(f) "Real property" includes all the
rights, interests and benefits related to the ownership of real estate.
(g) "Real estate service practitioners" shall refer to
and consist of the following:
(1) Real estate consultant – a duly registered and
licensed -natural person who, for a professional fee, compensation or other
valuable consideration, offers or renders professional advice and judgment on:
(i) the acquisition, enhancement, preservation,
utilization or disposition of lands or improvements thereon; and
(ii) the conception, planning, management and development
of real estate projects.
(2) Real estate appraiser – a duly registered and
licensed natural person who, for a professional fee, compensation or other
valuable consideration, performs or renders, or offers to perform services in
estimating and arriving at an opinion of or acts as an expert on real estate values,
such services of which shall be finally rendered by the preparation of the
report in acceptable written form.
(3) Real estate assessor – a duly registered and
licensed natural person who works in a local government unit and performs
appraisal and assessment of real properties, including plants, equipment, and
machineries, essentially for taxation purposes.
(4) Real estate broker – 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.
(5) Real estate salesperson – a duly accredited natural
person who performs service for, and in behalf of. a real estate broker who is
registered and licensed by the Professional Regulatory Board of Real Estate
Service for or in expectation of a share in the commission, professional fee,
compensation or other valuable consideration.
Section 4
Creation and Composition of
the Board
There is hereby created a Professional Regulatory Board of Real Estate
Service, hereinafter referred to as the Board, under the supervision and
administrative control of the Professional Regulation Commission (PRC),
hereinafter referred to as the Commission, composed of a chairperson and four
(4) members who shall be appointed by the President of the Philippines from the
three (3) recommendees chosen by the Commission from a list of five (5)
nominees per position submitted by the accredited and integrated professional
organization of real estate service practitioners: Provided, That two (2) of
the members of the Board shall represent the government assessors and
appraisers.
The first Board shall be organized within six (6) months from the
effectivity of this Act.
Section 5
Powers and Functions of the
Board
The Board is hereby vested the following powers and functions:
(a) Provide comprehensive policy guidelines for the
promotion and development of the real estate industry;
(b) Conduct licensure examinations for the practice of
the real estate service profession and prescribe the appropriate, syllabi of
the subjects for examination;
(c) Issue, suspend, revoke or reinstate, after due
notice and hearing, certificates of registration or professional identification
cards for the practice of real estate service;
(d) Maintain a comprehensive and updated register of
licensed real estate service professionals;
(e) Monitor the conditions affecting the practice of
real estate service and adopt such measures as may be proper for the
enhancement of the profession and/or the maintenance of high professional,
ethical and technical standards;
(f) Adopt a national Code of Ethics and Responsibilities
to be strictly observed by all licensed real estate service practitioners;
(g) Hear or investigate any violation of this Act, its
implementing rules and regulations, and the Code of Ethics and Responsibilities
for real estate service practitioners and issue subpoena and subpoena duces
tecum to secure the appearance of witnesses and the production of documents in
connection therewith;
(h) Safeguard and protect legitimate and licensed real
estate service practitioners and, in coordination with the accredited and
integrated professional organization of real estate service practitioners,
monitor all forms of advertisements, announcements, signboards, billboards,
pamphlets, brochures and others of similar nature concerning real estate and,
where necessary, exercise its quasi-judicial and administrative powers to
finally and completely eradicate the pernicious practices of unauthorized or
unlicensed individuals;
(i) Prescribe, in cooperation with the Commission on
Higher Education (CHED) or the concerned state university or college, the
essential requirements as to the curricula and facilities of schools, colleges
or universities seeking permission to open academic courses or already offering
such courses in real estate service, and to see to it that these requirements,
including the employment of qualified faculty members, are properly complied
with;
(j) Promulgate, administer and enforce rules and
regulations necessary in carrying out the provisions of this Act;
(k) Supervise and regulate the registration, licensure
and practice of real estate service in the Philippines;
(l) Assess and fix the rate of reasonable regulatory
fees;
(m)
Administer oaths and affirmations;
(n) Adopt an official seal of the Board;
(o) Evaluate periodically the status of real estate
service education and profession, and recommend and/or adopt measures to
upgrade and maintain its high standard;
(p) Prescribe guidelines and criteria for the Continuing
Professional Education (CPE) program for real estate service practitioners in
consultation with the accredited and integrated professional organization of
real estate service practitioners;
(q) Screen, issue and monitor permits to organizations
of real estate professionals in the conduct of seminars and accredit such
seminars pursuant to the CPE program, as well as the instructors or lecturers
therein, for the purpose of upgrading the quality and knowledge of the
profession;
(r) Monitor and supervise the activities of the
accredited and integrated professional organization and other associations of
real estate service practitioners; and
(s) Discharge such other powers, duties and functions as
the Commission may deem necessary to carry out the provisions of this Act.
The policies, resolutions and rules and regulations issued or
promulgated by the Board shall be subject to the review and approval by the
Commission. However, the Board's decisions, resolutions or orders which are not
interlocutory, rendered in an administrative case, shall be subject to review
by the Commission only on appeal.
Section 6
Qualifications of the Chairperson
and Members of the Board
The chairperson and the members of the Board shall, at the time of
their appointment, possess the following qualifications:
(a) A citizen and resident of the Philippines;
(b) A holder of a bachelor's degree related to real
estate;
(c) An active licensed practitioner of real estate
service for at least ten (10) years prior to his/her appointment;
(d) A bona fide member in good standing of the
accredited and integrated professional organization of real estate service
practitioners but not an officer or trustee at the time of his/her appointment;
(e) Neither be a member of the faculty of an institute,
school, college or university, nor have any pecuniary interest, direct or
indirect, in any institution or association where review classes or lectures in
preparation for the licensure examination are being offered or conducted; and
(f) Of good moral character, and must not have been
convicted by final judgment by a competent court of a criminal offense
involving moral turpitude.
Section 7
Term of Office
The chairperson and the members of the Board shall hold office for a
term of three (3) years from the date of their appointment and until their
successor/s shall have been appointed: Provided, That the members of the first
appointed Board shall hold office for the following terms: one (1) member as
chairperson, to serve for three (3) years; two (2) members, to serve for two
(2) years; and two (2) members, to serve for one (1) year.
The chairperson and the members of the Board may be reappointed for a
second term but in no case shall he/she serve continuously for more than six
(6) years. Any vacancy in the Board shall be filled for the unexpired portion
of the term of the member who vacated the position. On the constitution of the
first Board, the chairperson and the members of the Board shall automatically
be registered and issued certificates of registration and professional
identification cards. Each member of the Board shall take the proper oath of
office prior to the assumption of duty.
Section 8
Compensation and Allowances
of the Chairperson and Members of the Board
The chairperson and the members of the Board shall receive compensation
and allowances comparable to the compensation and allowances received by the
chairman and the members of existing professional regulatory boards under the
Commission, as provided for in the General Appropriations Act.
Section 9
Removal of the Chairperson
and Members of the Board
The chairperson or any member of the Board may be suspended or removed
by the President of the Philippines, upon the recommendation of the Commission,
for neglect of duty; abuse of power; oppression; incompetence; unprofessional,
unethical, immoral or dishonorable conduct; commission or toleration of
irregularities in the conduct of examination or tampering of the grades
therein, or for any final judgment or conviction of any criminal offense
involving moral turpitude.
Section 10
Supervision of the Board,
Custodian of its Records, Secretariat and Support Services
The Board shall be under the general supervision and administrative
control of the Commission. All records of the Board, including applications for
examination, examination papers and results, minutes of deliberations,
administrative and other investigative cases involving real estate service
practitioners, shall be kept by the Commission. The Commission shall designate
the secretary of the Board and shall provide the secretariat and other support
services to implement the provisions of this Act subject to the usual
government accounting and auditing rules and regulations.
Section 11
Annual Report
The Board shall, at the close of each calendar year, submit an annual
report to the Commission, giving a detailed account of its proceedings and
accomplishments during the year and recommending measures to be adopted with
the end-in-view of upgrading and improving the conditions affecting the
practice of real estate service in the Philippines.
Section 12
Licensure Examination
Every applicant seeking to be registered and licensed as a real estate
service practitioner, except a real estate salesperson, shall undergo an
examination as provided for in this Act. Examinations for the practice of real
estate service in the Philippines shall be given by the Board at least once
every year in such places and dates as the Commission may designate.
Section 13
Scope of Examination
An examination shall be given to the licensure applicants for real
estate brokers, real estate appraisers and real estate consultants which shall
include, but not limited to, the following:
(a) For real estate consultants – fundamentals
of real estate consulting; standards and ethics; consulting tools and
techniques, which include project feasibility study and investment measurement
tools; real estate finance and economics; real estate consulting and investment
analyses; consulting for specific engagement, which includes consulting for
commercial, industrial, recreation and resort and hotel properties, and
consulting for government and corporate and financial institutions; land
management system and real property laws; and any other related subjects as may
be determined by the Board;
(b) For real estate appraisers – fundamentals
of real estate principles and practices; standards and ethics; theories and
principles in appraisal; human and physical geography; methodology of appraisal
approaches; valuation procedures and research; appraisal of machinery and
equipment; practical appraisal mathematics; appraisal report writing; real
estate finance and economics; case studies; land management system and real
property laws; and any other related subjects as may be determined by the
Board; and
(c) For real estate brokers – fundamentals of property
ownership; code of ethics and responsibilities; legal requirements for real
estate service practice; real estate brokerage practice; subdivision
development; condominium concept; real estate finance and economics; basic
principles of ecology; urban and rural land use; planning, development and
zoning; legal aspect of sale, mortgage and lease; documentation and
registration; real property laws; and any other related subjects as may be
determined by the Board.
To conform with technological and modern developments, the Board may
recluster, rearrange, modify, add to, or exclude any of the foregoing subjects
as may be necessary.
Section 14
Qualification of Applicants
for Examinations
In order to be admitted to the licensure examination for real estate
service, a candidate shall, at the time of filing his/her application,
establish to the satisfaction of the Board that he/she possesses the following
qualifications:
(a) A citizen of the Philippines;
(b) A holder of a relevant bachelor's degree from a
state university or college, or other educational institution duly recognized
by the CHED: Provided, That as soon as a course leading to a Bachelor's degree
in Real Estate Service is implemented by the CHED, the Board shall make this
course a requirement for taking the "licensure examination; and
(c) Of good moral character, and must not have been
convicted of any crime involving moral turpitude: Provided, That an applicant
for the licensure examination for real estate consultants must show proof that
he/she has at least ten (10) years experience as a licensed real estate broker
or an assessor, or as a bank or institutional appraiser or an employed person
performing real property valuation, or at least five (5) years experience as a
licensed real estate appraiser.
All applications for examination shall be filed with the Board which
shall assess and approve said applications and issue to the qualified examinees
the corresponding permits to take such examination.
Section 15
Ratings in the Examination
In order that a candidate may be deemed to have successfully passed the
examination, he/she must have obtained an average of at least seventy-five
percent (75%) in all subjects, with no rating below fifty percent (50%) in any
subject.
Section 16
Release of the Results of
Examination
The results of the licensure examination shall be released by the Board
within ten (10) days from the last day of the examination.
Section 17
Issuance of the Certificate
of Registration and Professional Identification Card
A certificate of registration shall be issued to examinees who pass the
licensure examination for real estate service subject to payment of fees
prescribed by the Commission. The certificate of registration shall bear the
signature of the chairperson of the Commission and the chairperson and the
members of the Board, stamped with the official seal of the Commission,
indicating that the person named therein is entitled to practice the profession
with all the benefits and privileges appurtenant thereto. This certificate of
registration shall remain in full force and effect until revoked or suspended
in accordance with this Act.
A professional identification card bearing the registration number,
date of issuance and expiry date, duly signed by the chairperson of the
Commission, shall likewise be issued to every registrant upon payment of the
required fees. The professional identification card shall be renewed every
three (3) years and upon satisfying the requirements of the Board such as, but
not limited to, attendance in the CPE program.
Section 18
Refusal to Register
The Board shall not register and issue a certificate of registration to
any successful examinee who has been convicted by a court of competent
jurisdiction of any criminal offense involving moral turpitude or has been
found guilty of immoral or dishonorable conduct after investigation by the
Board, or has been found to be psychologically unfit.
Section 19
Revocation or Suspension of
the Certificate of Registration and the Professional Identification Card or
Cancellation of Special/Temporary Permit
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 identification 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.
Section 20
Registration without
Examination
Upon application and payment of the required fees, the following shall
be registered, and shall be issued by the Board and the Commission a
certificate of registration and a professional identification card without
taking the prescribed examination:
(a)
Those who, on the date of the effectivity of this
Act, are already licensed as real estate brokers, real estate appraisers or
real estate consultants by the Department of Trade and Industry (DTI) by virtue
of Ministry Order No. 39, as amended: Provided, That they are in active
practice as real estate brokers, real estate appraisers and real estate
consultants, and have undertaken relevant CPE to the satisfaction of the Board;
(b)
Assessors and appraisers who, on the date of the
effectivity of this Act, hold permanent appointments and are performing actual
appraisal and assessment functions for the last five (5) years, have passed the
Real Property Assessing Officer (RPAO) examination conducted and administered
by the Civil Service Commission (CSC) in coordination with the Department of
Finance (DOF), and have undertaken relevant CPE to the satisfaction of the
Board; and
(c)
Assessors and appraisers who, on the date of the
effectivity of this Act, hold permanent appointments and have at least ten (10)
years actual experience in real property appraisal or assessment and have
completed at least one hundred twenty (120) hours of accredited training on
real property appraisal conducted by national or international appraisal
organizations or institutions/entities recognized by the Board and relevant CPE
to the satisfaction of the Board.
Those falling under categories (b) and (c) shall register with the
Board after they shall have complied with the requirements for registration as
real estate appraisers: Provided, That those seeking to be licensed to a new
credential level shall be required to take the pertinent licensure examination.
Those so exempt under the aforementioned categories shall file their
application within two (2) years from the effectivity of this Act: Provided, that
the renewal of the professional identification card is subject to the
provisions of Section 17 hereof.
Section 21
Reinstatement, Reissuance or
Replacement of Certificate of Registration, Professional Identification Card
and Special/Temporary Permit
The Board may, after the expiration of two (2) years from the date of
revocation of a certificate of registration and/or professional identification
card, and upon application, compliance with the required CPE units, and for
reasons deemed proper and sufficient, reinstate any revoked certificate of
registration and reissue a suspended professional identification card and in so
doing, may, in its discretion, exempt the applicant from taking another
examination.
A new certificate of registration, professional identification card or
special/temporary permit may be issued to replace lost, destroyed or mutilated
ones, subject to the rules as may be promulgated by the Board.
Section 22
Roster of Real Estate
Service Practitioners
The Board, in coordination with the integrated professional
organization of real estate service practitioners, shall prepare, update and
maintain a roster of real estate service practitioners which shall contain the
names of all registered real estate service practitioners, their residence and
office addresses, license number, dates of registration or issuance of
certificates, and other data which the Board may deem pertinent. Copies thereof
shall be made available to the public upon request.
Section 23
Issuance of
Special/Temporary Permit
Upon application and payment of the required fees and. subject to the
approval of the Commission, the Board may issue special/temporary permit to
real estate service practitioners from foreign countries whose services are
urgently needed in the absence or unavailability of local real estate service^
practitioners for the purpose of promoting or enhancing the practice of the
profession in the Philippines.
Section 24
Foreign Reciprocity
No foreign real estate service practitioner shall be admitted to the
licensure examination or be given a certificate of registration or a
professional identification card, or be entitled to any of the privileges under
this Act unless the country of which he/she is a citizen specifically allows
Filipino real estate service practitioners to practice within its territorial
limits on the same basis as citizens of such foreign country.
Section 25
Oath
All successful examinees qualified for registration and all qualified
applicants for registration without examination as well as accredited
salespersons shall be required to take an oath before any member of the Board
or any officer of the Commission duly authorized by the Commission to
administer oaths prior to entering into the practice of real estate service in
the Philippines.
Section 26
Professional Indemnity
Insurance/Cash or Surety Bond
All real estate brokers and private real estate appraisers shall, in
addition to the oath referred to in the preceding section, be required to post
a professional indemnity insurance/cash or surety bond, renewable every three
(3) years, in an amount to be determined by the Board, which in no case shall
be less than Twenty thousand pesos (P20,000.00), without prejudice to the
additional requirement of the client.
Section 27
Acts Constituting the
Practice of Real Estate Service
Any single act or transaction embraced within the provisions of Section
3(g) hereof, as performed by real estate service practitioners, shall
constitute an act of engaging in the practice of real estate service.
Section 28
Exemptions from the Acts
Constituting the Practice of Real Estate Service
The provisions of this Act and its rules and regulations shall not
apply to the following:
(a)
Any person, natural or juridical, who shall directly
perform by himself/herself the acts mentioned in Section 3 hereof with
reference to his/her or its own property, except real estate developers;
(b)
Any receiver, trustee or assignee in bankruptcy or
insolvency proceedings;
(c)
Any person acting pursuant to the order of any court
of justice;
(d)
Any person who is a duly constituted
attorney-in-fact for purposes of sale, mortgage, lease or exchange, or other
similar contracts of real estate, without requiring any form of compensation or
remuneration; and
(e)
Public officers in the performance of their official
duties and functions, except government assessors and appraisers.
Section 29
Prohibition against the
Unauthorized Practice of Real Estate Service
No person shall practice or offer to practice real estate service in
the Philippines or offer himself/herself as real estate service practitioner,
or use the title, word, letter, figure or any sign tending to convey the
impression that one is a real estate service practitioner, or advertise or
indicate in any manner whatsoever that one is qualified to practice the
profession, or be appointed as real property appraiser or assessor in any
national government entity or local government unit, unless he/she has
satisfactorily passed the licensure examination given by the Board, except as
otherwise provided in this Act, a holder of a valid certificate of
registration, and professional identification card or a valid special/temporary
permit duly issued to him/her by the Board and the Commission, and in the case
of real estate brokers and private appraisers, they have paid the required bond
as hereto provided.
Section 30
Positions in Government
Requiring the Services of Registered and Licensed Real Estate Service
Practitioners
Within three (3) years from the effectivity of this Act, all existing
and new positions in the national and local governments, whether career,
permanent, temporary or contractual, and primarily requiring the services of
any real estate service practitioner, shall be filled only by registered and
licensed real estate service practitioners.
All incumbent assessors holding permanent appointments shall continue
to perform their functions without need for re appointment and without
diminution of status, rank and salary grade, and shall enjoy security of
tenure. However, they may not be promoted to a higher position until they meet
the qualification requirements of that higher position as herein prescribed.
Nothing in this Act shall be construed to reduce any benefit, interest, or
right enjoyed by the incumbents at the time of the enactment of this Act. The
appointing authority shall exercise his power to appoint the assessor in
accordance with the provisions of this Act only when a vacancy occurs.
Section 31
Supervision of Real Estate
Salespersons
For real estate salespersons, no examination shall be given, but they
shall be accredited by the Board: Provided, that they have completed at least
two (2) years of college and have undergone training and seminars in real
estate brokerage, as may be required by the Board. Real estate salespersons
shall be under the direct supervision and accountability of a real estate broker.
As such, they cannot by themselves be signatories to a written agreement
involving a real estate transaction unless the real estate broker who has
direct supervision and accountability over them is also a signatory thereto. No
real estate salesperson, either directly or indirectly, can negotiate, mediate
or transact any real estate transaction for and in behalf of a real estate
broker without first securing an authorized accreditation as real estate
salesperson for the real estate broker, as prescribed by the Board. A real
estate broker shall be guilty of violating this Act for employing or utilizing
the services of a real estate salesperson when he/she has not secured the
required accreditation from the Board prior to such employment.
No salesperson shall be entitled to receive or demand a fee, commission
or compensation of any kind from any person, other than the duly licensed real
estate broker who has direct control and supervision over him, for any service
rendered or work done by such salesperson in any real estate transaction.
No violation of this provision shall be a cause for revocation or
suspension of the certificate of registration of the real estate broker unless
there was actual knowledge of such violation or the broker retains the
benefits, profits or proceeds of a transaction wrongfully negotiated by the
salesperson.
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.
In case of resignation or termination from employment of a real estate
service practitioner, the same shall be reported by the employer to the Board
within a period not to exceed fifteen (15) days from the date of effectivity of
the resignation or termination.
Subject to the provisions of the Labor Code, a corporation or
partnership may hire the services of registered and licensed real estate
brokers, appraisers or consultants on commission basis to perform real estate
services and the latter shall be deemed independent contractors and not
employees of such corporations.
Section 33
Display of License in the
Place of Business
Every registered and licensed real estate service practitioner shall
establish and maintain a principal place of business and such other branch
offices as may be necessary, and shall conspicuously display therein the
original and/or certified true copies of his/her certificate of registration as
well as the certificates of registration of all the real estate service
practitioners employed in such office.
Section 34
Accreditation and
Integration of Real Estate Service Associations
All real estate service associations shall be integrated into one (1)
national organization, which shall be recognized by the Board, subject to the
approval of the Commission, as the only accredited and integrated professional
organization of real estate service practitioners.
A real estate service practitioner duly registered with the Board shall
automatically become a member of the accredited and integrated professional
organization of real estate service practitioners, and shall receive the
benefits and privileges appurtenant thereto. Membership in the accredited and
integrated professional organization of real estate service practitioners shall
not be a bar to membership in other associations of real estate service
practitioners.
Section 35
Code of Ethics and
Responsibilities for Real Estate Service Practitioners
The Board shall adopt and promulgate the Code of Ethics and
Responsibilities for real estate service practitioners which shall be
prescribed and issued by the accredited and integrated professional organization
of real estate service practitioners.
Section 36
Continuing Professional
Education (CPE) Program
The Board shall develop, prescribe and promulgate guidelines on CPE
upon consultation with the accredited and integrated professional organization
of real estate service practitioners, affiliated association of real estate
service practitioners and other concerned sectors, and in accordance with such
policies as may have been prescribed by the Board, subject to the approval of
the Commission. The Board shall create a CPE Council that shall be composed of
a chairperson coming from the Board, a member from the accredited and
integrated professional organization of real estate service practitioners and a
member from the academe.
Section 37
Enforcement Assistance to
the Board
The Board shall be assisted by the Commission in carrying out the
provisions of this Act and its implementing rules and regulations and other
policies. The lawyers of the Commission shall act as prosecutors against
illegal practitioners and other violators of this Act and its rules. The duly
constituted authorities of the government shall likewise assist the Board and
the Commission in enforcing the provisions of this Act and its rules.
Section 38
Indication of the Certificate
of Registration, Professional Identification Card/License Number, Privilege Tax
Receipt (PTR) Number and Accredited Professional Organization (APO) Number
Real estate service practitioners shall be required to indicate the
certificate of registration, professional identification card, PTR number, and
APO receipt number, and the date of issuance and the duration of validity on
the documents he/she signs, uses or issues in connection with the practice of
his/her profession.
Section 39
Penal Provisions
Any violation of this Act, including violations of implementing rules
and regulations, shall be meted the penalty of a fine of not less than One
hundred thousand pesos (P100,000.00) or imprisonment of not less than two (2)
years, or both such fine and imprisonment upon the discretion of the court. In
case the violation is committed by an unlicensed real estate service
practitioner, the penalty shall be double the aforesaid fine and imprisonment.
In case the violation is committed, by a partnership, corporation,
association or any other juridical person, the partner, president, director or
manager who has committed or consented to or knowingly tolerated such violation
shall be held directly liable and responsible for the acts as principal or as a
co-principal with the other participants, if any.
Section 40
Appropriations
The chairperson of the Professional Regulation Commission shall
immediately include in the Commission's programs the implementation of this
Act, the funding of which shall be included in the annual General
Appropriations Act and thereafter.
Section 41
Transitory Provision
Within ninety (90) days from the effectivity of this Act, the DTI –
Bureau of Trade Regulation and Consumer Protection (BTRCP) shall transfer all
pertinent records, documents and other materials to the Professional Regulatory
Board of Real Estate Service.
Section 42
Implementing Rules and
Regulations
Within six (6) months after the effectivity of this Act, the
Commission, together with the Board and the accredited and integrated
professional organization of real estate service practitioners, the Department
of Finance, and the CHED, shall prepare the necessary rules and regulations,
including the Code of Ethics and Responsibilities for real estate service
practitioners, needed to implement the provisions of this Act.
Section 43
Separability Clause
If any clause, sentence, paragraph or part of this Act shall be declared
unconstitutional or invalid, such judgment shall not affect, invalidate or
impair any other part of this Act.
Section 44
Repealing Clause
(a)
Sections 3(e) and (ee) of Act No. 2728, as amended
by Act No. 3715 and Act No. 3969, Sections 472 and 473 of the Local Government
Code of 1991 (Republic Act No. 7160), and pertinent provisions of the Civil
Service Law are hereby modified accordingly.
(b)
All laws, decrees, executive orders, department or
memorandum orders and other administrative issuances or parts thereof which are
inconsistent with the provisions of this Act are hereby modified, superseded or
repealed accordingly.
Section 45
Effectivity
This Act shall take effect fifteen (15) days following its publication
in the Official Gazette or in a major daily newspaper of general circulation in
the Philippines.
Approved:
June 29, 2009
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