Three years after RESA (II)-A A +A
Real Estate Updates
Sunday, September 2, 2012
THE chairperson and the members of the PRB-RES/Board shall hold office for a term of three years from the date of their appointment and until their successor/s shall have been appointed. They may be reappointed for a second term but in no case shall he/she serve continuously for more than six years. Any vacancy in the Board shall be filled for the unexpired portion of the term of the member who vacated the position.
The chairperson or any member of the Board may be suspended or removed by the President of the Philippines, upon the recommendation of the PRC/Commission and after due notice and hearing in a proper administrative investigation to be conducted by the Commission on the following grounds:
1. Neglect of duty,
2. Abuse of power,
5. Unprofessional, unethical conduct,
6. Immoral or dishonorable conduct,
7. Commission or toleration of irregularities in the conduct of examination or tampering of the grades, or
8. For any final judgment or conviction of any criminal offense involving moral turpitude.
Every applicant seeking to be registered and licensed as a real estate service practitioner, except a real estate salesperson, shall undergo an examination to be given by the PRB-RES and PRC at least once every year in such places and dates as PRC may designate. To qualify to be admitted to the licensure examination, a candidate must possess the following qualifications:
1. Filipino citizen,
2. A holder of a bachelor's degree from a state university or college, or other educational institution duly recognized by Ched (Commission on Higher Education),
3. Of good moral character and must not have been convicted of any crime involving moral turpitude,
4. An applicant for licensure examination as a real estate consultant must show proof that: he/she has at least 10 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 years experience as a licensed real estate appraiser.
Results of examination, issuances and revocation/suspension of licenses
To pass the examination, the candidate must have obtained an average of at least 75% in all subjects, with no rating below 50% in any subject. The results of the licensure examination shall be released within ten (10) days from the last day of the examination.
A COR (Certificate of Registration) shall be issued to examinees who pass the licensure examination for real estate service upon payment of fees prescribed by PRC. This certificate shall remain in full force and effect until revoked or suspended in accordance with law. A professional identification (ID) card bearing the registration number, date of issuance and expiry date, shall be issued to every registrant upon payment of the required fees. The ID card shall be renewed every three years upon application or renewal.
PRB-RES shall revoke or cancel the license given to a real estate service practitioner, or suspend him/her from the practice of the profession on any of the following instances:
1. Procurement of a COR and/or Professional ID card by fraud or deceit,
2. Allowing an unqualified person to advertise or to practice the profession by using one's COR or professional ID card,
3. Unprofessional or unethical conduct,
4. Malpractice or violation of any of the provisions of RESA, the Implementing Rules and Regulations (IRR) and the Code of Ethics and Responsibilities for real estate service practitioners.
5. Engaging in the practice of the profession during the period of one's suspension.
The rules on administrative investigation issued by PRC shall govern the hearing or investigation of the case, subject to the applicable provisions of R. A. No. 8981, R. A. No. 9646, and the Rules of Court.
Suspension or revocation of the licenses issued shall not prejudice the practitioner's prosecution for criminal liabilities and penalties imposed by related and special laws.
(To be continued)
Published in the Sun.Star Baguio newspaper on September 03, 2012.