Real estate service act, presentation file

Getting to know the real estate service act

1. REAL ESTATE SERVICE ACT
OF THE PHILIPPINES
RESA LAW 9646

2. Seller BuyerBroker

3. Seller BuyerBrokerBroker

4. Broker “Ahente”

5. How do we elevate the profession?

6. Broker
LawyerDoctor EngineerAccountant

7. Broker LawyerDoctor EngineerAccountant
Real Estate Salesperson

8. Broker LawyerDoctor EngineerAccountant
Real Estate Salesperson
Elevated requirements
Elevated skillset
Elevated profession

9. Broker LawyerDoctor EngineerAccountant
Real Estate Salesperson
Elevated requirements
Elevated skillset
Elevated profession
Created & recognized a “new profession”
Creates business opportunities
Minimizes illegal practice

10. RESA LAW –REPUBLIC ACT NO. 9646
The State recognizes the vital role of real estate
service practitioners promoting the real estate
market, stimulating economic activity and enhancing
government income from real property-based
transactions

11. RESA LAW –REPUBLIC ACT NO. 9646
To develop and nurture through proper and
effective regulation and supervision of technically
competent, responsible and respected professional
real estate service practitioners

12. 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 (CPD), as may be
required by the Board

13. SUPERVISION OF
REAL ESTATE SALESPERSONS
Real estate salespersons shall be under the direct
supervision and accountability of a real estate
broker. 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 a real estate salesperson

14. SUPERVISION OF
REAL ESTATE SALESPERSONS
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.

15. REQUIREMENTS FOR
REAL ESTATE SALESPERSON
1.Original and Photocopy of NSO Certificate of Live
Birth/Birth Certificate
2.Original and Photocopy of NSO Marriage
Certificate/Marriage Contract (for Married female only)
3.Original Transcript of Records (TOR) or Notarized
Certificate of Educational Attainment for undergraduate
with at least two (2) years of College and 72 credited
units

16. REQUIREMENTS FOR
REAL ESTATE SALESPERSON
4.Latest NBI Clearance
5.Original and Notarized Certification of twelve
(12) credit units on Real Estate Brokerage
(CPD)
6.Colored picture with complete nametag in
white background, passport size

17. GROUNDS FOR
REVOCATION OR SUSPENSION
OF CERTIFICATE OF REGISTRATION
AND PROFESSIONAL
IDENTIFICATION CARD OR PERMIT

18. 1.Procurement of a certificate of registration
and/or professional identification card, or
special/temporary permit by fraud or deceit;
2.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;

19. 3.Unprofessional or unethical conduct
4.Malpractice or violation of any of the provisions
of this Act, its implementing rules and
regulations, and the Code of Ethics
5.Engaging in the practice of the profession during
the period of suspension.

20. PENAL PROVISIONS

21. 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
(P200,000.00) or imprisonment of not less than four (4) 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.

22. STEPS IN FILING
RESA APPLICATION

23. Submit RESA application form and required
documents to secretary/HR department
STEPS IN FILING RESA APPLICATION
1

24. HR department will endorse the application form to
the license broker for signing
HR department will return the signed application
form to the sellers’ through their group secretary
STEPS IN FILING RESA APPLICATION
2

25. The Seller is required to proceed to PRC Central
Office to apply personally (personal appearance is
required).
STEPS IN FILING RESA APPLICATION
3

26. Proceed to the cashier for payment of fees
P600.00 (Ground Flr., Bldg.) at the Central Office
or Cashier’s Window at the Regional Offices.
STEPS IN FILING RESA APPLICATION
4
Proceed to the Customer Service Center for
documentary stamp, (Ground Flr., Annex
Bldg.)/designated counter at the Regional Offices.
5

27. STEPS IN FILING RESA APPLICATION
Submit duly accomplished application form and
requirements to the Office of the Assistant
Secretary (3
rd
Flr.)/designated counter at the
Regional Offices.
6
Verify status of application at the PRC
website:prc.gov.ph(news and event).
7

28. Submit photocopy of “PRC Official Receipt and
Claim Slip” to the HR department.
Part of the requirement for contract renewal, to submit a
photo copy of claim stub or license ID
(if any).
STEPS IN FILING RESA APPLICATION