REAL estate brokers in Cebu are calling on the Professional Regulations Commission (
PRC) to convene all real estate professionals and assist in the creation of a national organization dedicated for them.
Anthony Gerard Leuterio, president of the Philippine Allied Chamber of Real Estate Brokers and Licensed Salesmen, said he finds it unnatural that there is no “mother organization” that real estate broker organizations can associate with.
“Lawyers have the Integrated Bar of the Philippines, accountants have the Philippine Institute of Certified Public Accountants, and yet, real estate professionals don’t have one. I find it weird when there are a lot of Filipinos who are engaged in this industry,” said Leuterio
Aipo, code of ethics
Section 34 of the Real Estate Service Act (Resa) Law requires the integration of real estate services associations into one national organization. This national organization will be recognized by the board as the only Association of Integrated Professional Organization (Aipo) for real estate services organizations. The Resa Law took effect in 2009.
“The creation of this Aipo is important because it will help police all the real estate professionals engaged in the industry,” said Leuterio.
“Aipo will be one that will create the ethics and policies in the real estate service for everyone to follow,” he added. “The organization is also seen to be the voice of the sector.”
Leuterio said it is high time for the PRC to look after this profession, especially that the law has been there for 10 years.
He believed that the strict implemention of the law would address the fast growing number of foreign nationals who are buying and selling properties in the Philippines without licenses, as well as the presence of local “colorum practitioners.”
“It is the absence of Aipo and code of ethics that are hindering the implementation of the law,” he added.
Leuterio said Aipo will not only help protect buyers from unscrupulous sellers but it will also protect the booming real estate industry, which has been registering high growth the past years.
Real estate is a big winner industry in 2019, according to industry stakeholders.
Amid the challenges the country faced in 2018, the property sector remained resilient and it is expected to further reap opportunities this year.
Colliers International Philippines saw sustained end-user demand for house and lot projects in key areas outside Metro Manila. In 2018, Colliers saw new launches in Tarlac, Nueva Ecija, Cavite, Laguna, Batangas, Bacolod, Cebu, Iloilo and Davao.
Money sent home by overseas Filipino workers were among the major drivers of residential demand. KOC