MANILA, Philippines—After 20 years, the Real Estate Service Act (RESA) was signed into law by President Gloria Macapagal-Arroyo on June 29.
Republic Act No. 9646, hopes to professionalize and regulate the practice of real estate in the country through the development of technically competent, trained and accountable real estate practitioners in the country.
Under the new law, real estate consultants, appraisers, local government assessors and brokers will be overseen by the Professional Regulatory Board of Real Estate Service under the Professional Regulation Commission (PRC).
They will be subjected to a licensing process that will require them to pass a technical examination, comply with the program of continuing education and training, and observe the Code of Conduct and Responsibilities.
Salespersons, although not considered part of the professional group, will be accredited by the PRC, after undergoing training and working under a licensed real estate broker.
RESA will require real estate practitioners to post a Professional Indemnity Insurance/Cash or Surety Bond upon taking their oath to practice the profession before the PRC.
The new law is expected to stimulate the property market, encourage investments in construction and development, generate employment and increase revenues for the government.
It was sponsored in the House by Iloilo City Representative Rep. Raul T. Gonzalez Jr., chair of the Committee on Civil Service and Professional Regulation, and in the Senate by Sen. Panfilo M. Lacson, acting chair of the Committee on Civil Service and Government Reorganization.
The law, according to Senate President Juan Ponce Enrile, should protect the public from unscrupulous real estate service practitioners.–Philippine Daily Inquirer
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
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October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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