THE Housing and Land Use Regulatory Board (HLURB) is appealing to buyers of real estate properties to only deal and transact with licensed real estate brokers and agents.
HLURB 7 Director Francis Ordineza said part of their thrust this year is to implement strict monitoring on pre-selling activities to make sure real estate agents only sell projects that have already obtained license to sell (LTS) permits from their agency.
“We want to protect the industry as well as our buyers,” said Ordineza.
According to HLURB, developers must acquire LTS permits first before they are given the go-signal to sell their projects.
Earlier, the HLURB called on real estate agents to sell projects responsibly and adhere to the laws of the government to avoid conflicts in the future that may ruin their credibility and integrity as real estate professionals.
Ordineza advised buyers working and living in the overseas to check on the approved projects at the HLURB website before they purchase units.
“While we will strictly monitor the pre-selling activities, we are also confident that buyers now are intelligent,” he said.
Ordineza said buyers now look into the background of the developers as well as the projects they built or even the project masterplan to check whether they deliver what they have promised to the buyers.
“We are seeing a lot of buyers now especially from abroad sending inquiries about certain projects,” said Ordineza. “If you are doubtful, call us or ask about their LTS.” There are about 1,800 licensed brokers and salespersons recorded in the region this year. (KOC)