Davao developers told to deal with licensed brokers

Subscribe Now October 23, 2014 at 08:11am

THE Philippine Real Estate Service Practitioners Inc. (Philres) in Davao City called on property developers to deal only with real estate service practitioners who are licensed under the Professional Regulation Commission (PRC).

Philres-Davao City president Maria Lourdes G. Monteverde told reporters last week it is required by the Real Estate Service Act (Resa) or RA 9646 for real estate practitioners to get a license and pass the board exam given by Professional Regulation Commission.

Feli Mahani, Philres Davao City auditor, said this will be for the security of both the buyer and seller.

Monteverde said both the seller and buyer have needs which the real estate practitioner will be able to link together.

They also said that investors and land sellers dealing with licensed real estate practitioners will know what is happening in the industry since the real estate practitioner is well versed regarding the local economy and real estate situation of Davao City.

Monteverde also said dealing with the right real estate practitioner, there will be a check and balance system between the seller and the buyer.

"One of the roles of the real estate practitioner is to balance out what the buyer's needs and the seller's needs," she said.

They also said that having a licensed practitioner, the buyer and seller can be assured that the documents will be processed right. Also, a licensed practitioner will be able to facilitate the buyer or seller well.

Monteverde reminded real estate practitioners in Davao City to get or have their licensed renewed. She said those who are unlicensed will be penalized by the law.

Source: sunstar.com.ph

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