Most Real Estate buyers or investors do not know that our government created a law called RESA law or 9646 Real Estate Service Act of the Philippines last 2009. I know you’re wondering right now. What is this about? What is the advantage to my business? Or What’s in it for me?
The law now is in effect right now where all person or company dealing with real estate must have a license Real Estate Broker to do dealing in Real Estate transaction and negotiations.
What are the advantages? Let me give some insights. Below are the following advantages if you’re a buyer:
- The Real Estate industry is upgrading the standard professionalism which means you are highly encourage to deal Real Estate transaction without a license Real Estate Broker. I mean the real License from PRC or Professional Regulatory Board. which under go training and seminar and soon will be a course. This to avoid illegal Fly by night company or individuals to be fooled by scams. Only transact with a Licensed real estate Broker so you are sure that you are protected as the buyer.
2. Another advantage transacting with License Real Estate Broker is you are sure that you will be given the right details in relation to the law. Licensed Real Estate Brokers have vast knowledge of the law and can guide and assist you the right way how to market your property and provide you the right property that you’re looking for.
3. License Real Estate Brokers upgrade his or her skills and knowledge of the Law. Because Every year they are required to get 20 CPD (Continue Professional Development) A seminar which update them about the new trend in Real Estate and updated Law here in the Philippines. This is the requirement needed for renewal of our license.
4. Anyone who do not follow the law can be complained in Professional Regulatory Board for being unprofessional or dealing without license. This can have legal appropriate action once proven guilty which I will expound the details in another blog segment.
License Real Estate Broker provide the best service for your property requirements and investment to our utmost knowledge and ability.
Hope I was able to enlighten you about property transaction or tips in the Real Estate. Please join me to my fanpage or Linkedin page for new updates about Real Estate in the Philippines. Thank you very much.