Approved and published RESA Law IRR full text

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Here is the full text of the final and approved version of the much-awaited Implementing Rules and Regulations or IRR of Republic Act No. 9646, known as the “Real Estate Service Act of the Philippines” or RESA Law. The RESA IRR was published last July 24, 2010 in the Philippine Star.

To download a copy of the full text of the RESA Law IRR, just right-click on the link below then click “Save as…”. The file below is just 428KB in size so downloading should be quick. To open PDF files, you need to have a free PDF reader like Foxit PDF Reader, orAdobe Reader version 6.0 or higher installed on your computer.

The RESA Law IRR is actually Resolution No. 02 (Series of 2010) of the Professional Regulatory Board of Real Estate Service or PRBRES.

Source: PRC Website

ANNEX A

(Annex A was left out in the RESA Law IRR above so I am posting it here. It explains the meaning of the PRBRES official seal/logo)

OFFICIAL SEAL OF THE PROFESSIONAL REGULATORY BOARD OF REAL ESTATE SERVICE (PRBRES)

OFFICIAL SEAL OF THE PROFESSIONAL REGULATORY BOARD OF THE REAL ESTATE SERVICES (PRBRES)

The symbols in the Official Seal are interpreted as follows:

    • Land – represents Real Estate
    • Structures – represent improvements on the land such as Residential, Industrial, Commercial & Institutional buildings
    • Trees and the fruits – represent agricultural produce
    • Green lines – represent the real estate service practitioners such as real estate consultants, real estate appraisers, real estate assessors, and real estate brokers & salespersons
    • Red, White, Blue and Yellow – represent the color of the Philippine flag
    • Blue – color of service
    • Green – represents environment and ecology
    • Sun and Rays – life and light
    • Rising Sun – represents the vital role of the real estate service practitioners in the social, political, economic development and progress of the Philippines.
    • Gold – represents ethical standards and prosperity
    • Map of the Philippines – represents the Philippine archipelago

Source: 2011 Oath-taking ceremonies souvenir program

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Jay Castillo

Real Estate Investor

Real Estate Broker License #: 20056
Blog: http://www.foreclosurephilippines.com
Follow me in Twitter:http://twitter.com/jay_castillo
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Text by Jay Castillo and Cherry Castillo. Copyright © 2010 All rights reserved.

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About Jay Castillo

Jay is the founder of Foreclosurephilippines.com where he shares real estate investing tips and foreclosed property listings. He was an I.T. Manager that loved to make things work, which is exactly what he did when he crossed-over to Real Estate Investing and Internet Marketing. He is also a licensed real estate broker with PRC License # 3194 ... [Continue reading]

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  • larry

    is it true that when you renew your license for broker, appraiser and consultant this year. cpe is not yet required?

    • http://www.foreclosurephilippines.com Jay Castillo

      Hi Larry, I don’t believe that’s true, although there have been unconfirmed reports that some have renewed their licenses and the PRC did not look for their CPE certificates.

  • Jiggles

    Tama si Fred, meron mga school na nagoffer ng 2 year college degree na mura lang check nyo lang sa tabi-tabi. I remember nga meron nangungulit sakin na Agent ng prudential about free scholarship certificate from Datamex hangang matapos ka wala ka babayaran. Yun nga lang mahirap talaga sa end ng mga taong may pamilya na lalo na yung mga single parent na kailangan kumita ng pera para sa mga anak nila.
    Kaya rin nman ginagawa ng government natin ito para hindi magsobra sobra ang mga professional brokers at mabigyan ng protection ang mga client natin. Kasi madaming mga sales agent na fake or nanloloko lang nang tao para kumita ng pera. Isang example is yung kursong nurse, CPA, PT etc.. subra subra na sila kaya mahirap maghanap ng trabaho ang tanging aasahan nalang is overseas employment pero since na bagsak din ang economy sa ibang bansa mahirap na maghanap ng simila profession.
    Sabi nga si Robert Kiyosaki sa kanyang libro na “RICH DAD POOR DAD” “Always invest a financial education for yourself because it is the only way to go out from RAT RACE”.
    Regards to all….

  • Fred

    kung malaki na pala ang commission na nakukuha ng mga “undergrads,” then why not take night classes or crash courses to earn the units that you need. It’s not everyday na may tripping ang mga agents. If you want to succeed, then study for it. Hindi yung puro reklamo lang kasi hindi naman solusyon ang pagcocomplain.

  • Haydee_junio

    oo nakakainis nga kahit nga general manager lang ng office matindi pa kumita kisa sa agents,grabe kawawa ang ahente sila yung naghahanap ng buyer pakahirap mag close,triping yung manager nakaupos lang sa computer tapos pag commission day sila pa yung kumikita ng malaki kapal muks!

  • angie

    good evening,

    i have just opened your website and saw the remarks that i have only 105 training hours. can i send my other training certificate directly to your office there in manila through LBC? can i send a photocopy of my training certificate duly notarized by a notary public? i have 48 hours training conducted by PARA. can i send this certificate directly to your office in manila?
    looking forward for your immediate response on this inquiry.

    Angie G. Pula
    Bacolod City,Region VI

    • http://www.foreclosurephilippines.com Jay Castillo

      Hi Angie,

      Sorry but I believe you should forward your inquiry to the PRC directly. Although I am a PRC registered real estate broker, I am not connected with their office. Sorry for the late reply.

      Goodluck!

  • analyn

    hi, sang ayon po ako sa sinasabi ni Pia, isa po ako sa mga nakatapos lng ng high school but actibong agente,sana po pag aralan mabuti, ng nakaupo ngayon,maraming mawawalan ng trabaho sa resa na yan, maganda po Resa law kaya lng mas maraming maapektuhan, dahil ang totoo po mas marami kaming high school graduate lang at mga di nakatapos sa high school ang ahente kaysa sa mga proffesional na ng aahente,malaking kawalan din sa amin ang trabahong ito.pagdating ng july 2011 70% ng mga ahente mawawala,tama ang sabi ni rea mas maraming magagaling na ahente na tapos lng ng high school at di nakatapos ng high school, ngayon pa lng nawawalan na rin ako ng kumpyensa dahil sa RESA law di na ako makakapagtrabaho,lalo ng walang bujas na matatanaw.paano mga tao na dyan lang kumukuha ng ikabubuhay,di mababawasan ang mahihirap bagkos dadami pa ito,sa mga kinauukulan bigyan nyo nmn ng pansin ang sinasabi ko di dahil para sa akin lang higit sa mga nakararami, More Power,

  • http://yahoo angie

    Good evening Jay
    I am a lawyer by profession but i truly appreciate your inputs…. I am not well versed in the real estate business…but i intend to explore this avenue and intend to take the real estate broker exam this coming march 2011. is this the right start to enter the real estate business? I intend to “honestly” help the ofws and foreigners investing /buying Phil properties…. also would it be advisable if i also obtain a real estate consultant license?

    i hope you can guide me …many thanks

  • marilyn

    tama po yan, hu hu hu, pls!!! help us high school graduate lang ako pano na kami ng mga anak ko , ayaw ko rin maging kolorum e. PAREB, REBAB, ETC. alam ko marami kayong broker na ang mga ahenteg iba at mga higschool lang, pls air nyo po side naming mga high school lang…

    • May Ann Fajardo

      Hi, am sure this will help salespersons/agents who has no at least 2-year college units but has been accredited and producing for the developers and/or licensed brokers for so long. We will be conducting the required 120-hours training as per final IRR for them this Friday, Nov 19. This will be an 8-session hard core lecture & the other sessions are “Elective” subjects. For more details, kindly email me at: masfls@yahoo.com. Thanks.

      All the best,

      CRB MARIE ANTOINETTE “MAY ANN” S. FAJARDO
      Certified Real Estate Broker (CRB)
      REBL No. 19420

      President
      REAL ESTATE BROKERS ASSOCIATION OF THE PHILS.-Makati
      REBAP- Makati Chapter

      Mobile Landline. (+632) 5856397
      Cell No. (+63917)8120412
      Email: masfls@yahoo. com

  • http://www.lyreshtalks.wordpress.com lyresha
    • ROSE BERNABE

      I AGREE!

      LET US GIVE CREDIT TO INDIVIDUALS WHO HAVE MASTERED THE ART OF REAL ESTATE SELLING IN A PRODUCTIVE AND HONEST MANNER, DONE IN A VERY PROFESSIONAL WAY…

  • augusto p. dacles

    Sir:
    I m not a college graduate who is engage in real estate business.
    I was surprise that RESA Law was implemented and those who are a duly license real estate brokers can enjoy the said law. Its unffair to those who have invested time effort especially those reitrees and undergraduate who have tried their best to earn a decent life who are engage in selling real estate as their means to both ends meet, coz they are receiving a monthly pension of that could hardly buy for their daily subsistence. I know a lot of old people who engage in real estate business for a long time.. The
    truth is, my daughter is a license realtor. We would like to know if
    your are a license real estate salesman do you have any chance
    to be a license broker.What are the requirements needed if your not a college graduate or with 144 units as required? What school offers real estate course especially in Iloilo City? I engaged in real estate business at present and for every sales we made in different developer they automatically deduct the 10% withholding tax based on the gross commission. I m a taxpayer, why they wont allow us? Its discrimenating. Please air to the proponent of this bil, Im sure their will be a lot of people could benefit and for sure it will help a lot of Pinoy in the Philippines GIVE US CHANCE TO PRACTICE lets move forward. (I was once an OFW WAY BACK EARLY 80,S ) MALI KO LANG THE CHOISE I MADE IS TO ACCEPT THE OPPORTUNITY TO EARN FOR MY FAMILY. PLEASE DO HELP US AND THOSE WHO ENGAGE IN REAL ESTATE BUSINESS FOR DAILY NEEDS.
    GOD BLESS

  • ROSE BERNABE

    si Jay….please keep us posted on who are accredited by the PRC for review centers on RE matters….this had to be aligned with the FIRST LICENSURE EXAM to be given out by PRC…had I known na magiging ganito kahirap, I should have taken the last batch in 2009..pero di ako masyado nakasagap ng balita..was so busy with a lot of things including selling RE properties…

  • pia

    Sana man lang hindi ganyang kabrutal ang Resa Law, Sana naman magkaroon ng malasakit ang government sa mga undergrad or highschool grad na agent who performs well and professionally in this line of business. Maraming undergraduates ang maapektuhan for sure, maraming mawawalan ng trabaho. Huwag tayong magbingi-bingihan sa sitwasyon, hindi lahat ng legal e tama. Lisensiya lang yan. Sino ba ang ayaw magkaliscense? Pwede namang ipatupad yan, bakit nga ba hindi? pero sana naman magkaroon naman ng consideration sa mga agents na di man nakatapos ay nagagampanan naman ng maayos ang kanilang tungkulin. Nakakalungkot isipin na ang mga undergrad or highschool grad na agents na nagsisilbi sa mahabang panahon ay mawawalan na ng pagkakataong kumita ng legal.

    Bakit ang RESA Law, hindi pinaguusapan sa tv o any media advertisement, meron man, hindi ganuong ka tindi ang issue? Bakit puro sa internet lang. kawawa ang mga Filipino agents na undergrad pero mga professional magtrabaho kesa sa mga taong nagsasabing lisensiyado sila, Kung iisa-isahin ko ang mga lisensyadong broker na walang ginawa kundi mangurakot ng pera ng ahente nila, hindi mabibilang sa mga daliri ko sa kamay sa sobrang dami.

    Aminin niyo man o hindi, mas maraming mga undergraduate agents ang magagaling kesa sa mga tinatawag nating professional broker. Magagaling lang silang magcomment, siyempre para nga naman ipagmalaki ang kanilang profession. Ang bulok na sistema ng ating bansa ay dapat ng ayusin para sa ikauunlad nito

    Hiling ko lang kay P-NOY, na sana mapag-aralang mabuti ang Resa law na yan.

    Sana naman magkaroon ng chance ang mga undergrad. or highschool grad full time agents na makakuha ng sales agent liscense para naman fair para sa lahat, sana naman kahit certification ng broker o developer na siya ay at least 2 yrs. to 3 yrs. experienced sales agent at mabigyan ng pagkakataon na makapagexam as sales agent, sa examination naman malalalaman mo na kung qualified na talaga ang isang agent o hindi. Kahit sa ganoong paraan lang, magkaroon ng konting consideration, hindi yung bigla – bigla na lang magugulat ang lahat sa Resa Law na yan.

    Maganda ang hangarin ng Resa Law, natutuwa kami at meron ng Resa Law na magproprotekta sa mga agents sa marami at nagkalat na mga broker na puro lang salita pero mahilig mang-ipit ng commission ng kanilang mga agents, sa ganitong paraan magkakaroon narin kami ng opportunity na isumbong ang mga broker na hindi nagbabayad ng buwis, mga broker na sumisingil ng sobra sobrang buwis sa kanilang mga empleyado, mga broker na walang considerations sa paghihirap ng mga agents once na makapagdeal na ng transaction. Diyan dapat maghigpit ang gobyerno, hindi lang lisensya ang solusyon sa problema.

    Sana lang bago ifully implement yan, magkaroon naman ng consideration sa mga undergraduate or highschool graduate na matagal na sa real estate service.

    Bakit hindi rin nating pagtuunan ng pansin ang mga developer na nang-gigipit ng commission ng mga agents, maraming-marami sila. Maraming developer na nakalipat na’t lahat ang clients sa kanilang bahay, aabutin pa ng 1 o 2 taon bago ibigay ang pinaghirapan mo. Kapag minamalas-malas pa ang isang agent, gigipitin na nga ng developer, gigipitin pa ng broker, tsk. tsk. tsk. Hindi madaling maging agents, pero pinipilit na magampanan ang tungkulin para kahit paano ay makaraos sa pang-araw araw na gastusin.

    Magkaroon sana ng konting konsiderasyon ang Resa Law para sa mga undergraduate or highschool graduates agents na ginagampanan ng tama ang kanilang trabaho at hindi yung puro kapakanan na naman ng mahihirap ang maaapektuhan…

    • http://yahoo margarita

      dapat talaga bigyan ng chance un matatagal ng agent na mga high school graduate or 1st year college lang naabot na mbigyan kahit man lng certification from their broker para naman makapagpatuloy sila in the business of selling para hindi naman un lng mga college graduate ang pwede maging realty sales person

      • ROSE BERNABE

        Please read Section 31 of the RESA Law IRR…andun po ang conditions where a sales agent can be accredited with the Board via PRC and certified by a Broker as his/her sales agent. There are requirements like taking 120 training hours, documents to submit like NSO, etc.

        Hope this helps…

  • ROSE BERNABE

    Hi sir!

    Thank you for this post. I truly appreciate it.

    Question. How do we garner the 150 hours RE subjects required by the IRR for would be examinees? I am a degree holder.

    Thank you for the additional input.

    Rose

    • http://www.foreclosurephilippines.com Jay

      Hi Rose, you’re welcome! It’s 120 hours/units not 150 and I assume we would soon see accredited seminars that offer 120 hours/units(probably 10 hours per session for 12 sessions). If 1 session per week was held,the review would last for at least 12 weeks or 3 month, this means the seminars should be available soon if the rumors that say the exam would be in December 2010 are true.

    • ann

      hello! na surprised ako n meron n plang gnito. hnd man ako agent. pro may tita ksi ako na undrgrad ng highschool pero kung ttingnan sa performance daig p nya mga college grad. nka pundar n sya ng mrami.pero itong pangyyari na to, malaki tlaga ang effect s kanya. pano n sya s pang araw araw kung tlagang tuloy na implementation nito. pls bgyan nyo ng consideration ang mga tulad ng tita ko..pls.