This copy of RA 9646 was copied from the document
http://www.architectureboard.ph/uploads/1247447115-e09july11_PRBoA-292.doc
as posted at: http://www.architectureboard.ph
S.  No. 2963
H. No. 3514
Congress of the
Fourteenth Congress
Â
Begun and held in Metro Manila, on Monday, the twenty-eighth day of July, two thousand eight.
Â
[Â REPUBLIC
ACT NO. 9646 ]
Â
AN ACT REGULATING THE PRACTICE OF
REALÂ ESTATE SERVICE IN THE
Be it
enacted by the Senate and House of Representatives of the
ARTICLE I
TITLE, DECLARATION
OF POLICY AND DEFINITION OF TERMS
SECTION 1. Title.  -   This Act shall be known as the.
"Real Estate Service Act of the
Â
SEC. 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.
SEC. 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.
Â
ARTICLE II
PROFESSIONAL REGULATORY BOARD OF REAL
ESTATE SERVICE
SEC. 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.
SEC. 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
(1)Â 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.
SEC. 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
(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) AÂ 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.
SEC. 7. Term of Office. - The chairperson and the members of the Board shall hold office
for a term of three (3)Â 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.
SEC. 8. Compensation and Allowances of the
Chairperson and Members of the
Board. -Â 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.
Â
SEC. 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.
SEC. 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.
SEC. 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
ARTICLE III
LICENSURE
EXAMINATION AND REGISTRATION
SEC. 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
SEC. 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;Â 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;Â 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.
SEC. 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
(b)
A holder of a relevant bachelor's degree from a state university or college, or other
educational institution duly recognized
by the CHED:Â 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)Â 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.
SEC. 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.
SEC. 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.
SEC. 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.
SEC. 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.
SEC. 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;Â and
(e) Engaging in the practice of the profession during the
period of one's suspension.
SEC. 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.
SEC. 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.
SEC. 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.
SEC. 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.
SEC. 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.
ARTICLE IV
PRACTICE OF REAL
ESTATE SERVICE
SEC. 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
SEC. 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 bjr 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.
SEC. 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.
SEC. 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.
SEC. 29. Prohibition Against the
Unauthorized Practice of Real
Estate Service. -Â 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.
SEC. 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.
SEC. 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.17
SEC. 32. Corporate Practice of the Real
Estate Service. –Â
(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.
SEC. 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.
SEC. 34. Accreditation and Integration of
Real Estate Service Associations.
—Â 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.
SEC. 35. Code of Ethics and Responsibilities
for Real Estate Service Practitioners. -Â 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.
SEC. 36. Continuing Professional Education
(CPE)Â Program. -Â 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.
SEC. 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.
SEC. 38. Indication of the Certificate of
Registration, Professional Identification Card/License Number, Privilege Tax
Receipt (PTR) Number and Accredited Professional Organization (
ARTICLE V
PENAL AND FINAL PROVISIONS
SEC. 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.
SEC. 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.
SEC. 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.
Â
SEC. 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.
SEC. 43. Separability
Clause. —Â 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.
SEC. 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.
SEC. 45. Effectivity.
-Â 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 theÂ
 Â
           Â
           Â
           Â
   PROSPERO C. NOGRALESÂ
 Â
           Â
           Â
           Â
    Speaker of the
House of
 Â
           Â
           Â
           Â
           Â
           Â
    Representatives
Â
Approved,
Â
This Act which is a
consolidation of Senate Bill No. 2963Â and
House Bill No. 3514 was finally passed by the Senate and the House of Representatives on
May 12, 2009.
Â
 
Marilyn B. Barua-y
Secretary
of the Senate       Â
       Secretary General House of
Representatives
Â
Approved:
GLORIA
MACAPAGAL-ARROYO
President of the
Â
[ Approved by President Gloria Macapagal
Arroyo last June 29, 2009 ]
