HOW TO AVOID DEALING WITH ILLEGAL REAL ESTATE SERVICE PRACTITIONERS?

Practice of real estate service is regulated by the Real Estate Service Act of the Philippine or RESA.

This law provides that all real estate service practitioners shall indicate on documents he/she signs, uses or issues in connection with the practice of his/her profession as real estate broker, real estate appraiser, or real estate consultant the following data:

1. PRC Certificate of Registration number

2. PRC Professional identification card number with date of issuance and duration of validity

3. Professional Tax Receipt number with date of issuance and duration of validity

4. AIPO receipt number with date of issuance and duration of validity.

These same information shall also be indicated in ALL FB advertisement postings of the real estate item and related transaction.

Failure to indicate these information is deemed a violation of RESA which is punishable by penalty of P200,000 FINE and/or 4 years of imprisonment upon discretion of the court for those unlicensed real estate service practitioner.

Further, failure to indicate these information is a good indication of whether or not your are dealing with licensed real estate service practitioner or a SCAMMER.

Deal only with licensed real estate broker, appraiser, and consultant.

Credits to:

Good Faith Realty and Insurance

CRB Joey Salomon - REB, REA, REC

REBAP La Union VP for External Affairs