The Professional Regulation Commission (PRC) is fast churning out approvals of licences of new real estate brokers, consultants, and appraisers – without need for examination. This is in accordance with the IRR of RA 9646 (Section 20) which allows (for the meantime) the registration of real estate practitioners without examination.
Later on the PRC will require applicants to finish first the Bachelor of Science in Real Estate Service, and also to pass the PRC Licensure Examination.
Your’s truly has been approved by the PRC (No. 193 in the list below) as a licensed Real Estate Broker – meaning I can now practice legally sanctioned by the PRC (at present our licence was approved by the DTI-HLURB up to December 31, 2011, but it will be invalidated by this new development – and replaced by the PRC).
For those interested to get a license in this way, please refer to my previous blog on how to do it (click here).
At this point, we have the following licensed real estate practitioners in Iligan City: (click here for the complete list of the January 25, 2011 batch).
For Real Estate Appraiser:
1. Atty. Raymundo Cruz Capistrano
For Real Estate Broker:
1. Engr. Merlito Castor Catolico
2. Engr. Jamalludin Marohombsar Alonto
3. Atty. Belen Siton Pates
Other brokers have also applied, and are still waiting for their applications to be approved.
So what’s the deal? Why is it necessary to have this license?
Well, as I told my salespersons the other day, you can practice without a license but it will be illegal – and you will always be looking behind your back in fear that you might be caught. Why not get a license instead?
Under RA 9646, the penalty for illegal practice of brokerage is relatively hefty.
” SEC. 39. Penal Provisions
Any violation of the R.A. No 9646, including violations of this IRR, shall be meted the penalty of a fine of not less than one hundred thousand pesos (P100,000.00) or imprisonment of not less than two (2) years, or both such fine and imprisonment upon the discretion of the court. In case the violation is committed by an unlicensed real estate service practitioner, the penalty shall be double the aforesaid fine and imprisonment. (emphasis mine)
In case the violation is committed, by a partnership, corporation, association or any other juridical person, the partner, president, director or manager who has committed or consented to or knowingly tolerated such violation shall be held directly liable and responsible for the acts as principal or as a co-principal with the other participants, if any. ”
Caveat emptor. (“Let the buyer beware.”)🙂
Here’s the link to the PRC Web Page for the new real estate service practitioners.
Bye, and congrats to my co-brokers, and appraisers.