In a bid to relax rules for real estate services professionals, a real estate advocacy group recently filed a Petition for Declaratory Relief at the Makati Regional Trial Court.
Seeking to amend the Real Estate Service Act of 2009 (RESA) are members of A Better Real Estate Philippines (ABREP) Movement who particularly want to get rid of “unnecessary educational requirements”, redundant accreditation, and the requirement of assigning at least one licensed broker for every 20 accredited salespersons.
“Our intent with the filing of the petition for Declaratory Relief is to start overhauling the industry’s regulatory framework to make the profession more inclusive and accessible,” ABREP partner and legal advisor Estrella Elamparo said.
ABREP president Anthony Leuterio flagged the provision in RESA requiring for Professional Regulation Commission’s (PRC) broker licensure exam to hold a four-year degree in Bachelor of Science in Real Estate Management (BSREM).
In a virtual press conference, Leuterio noted this educational requirement drives up the cost of becoming a real estate broker. Instead, he recommended decreasing BSREM’s units to those that are required to practice.
National Real Estate Association (NREA) president Benny Cabrieto said with less than 100 BSREM graduates annually, and not all pass the board, the backlog for real estate professionals become a major problem in the country.