The real estate industry has evolved through the years to become as among the most regulated industry in the Philippines. This is understandable particularly when the real estate boom of the 70's and 80's has produced quite a number of real estate agents even without being licensed to broker real estate deals. As a result, the public had been unduly exposed to overpricing, unprofessional advise, amateur deals, fly by night sales, and other unpleasant and sometimes fatal experiences with these kind of unlicensed real estate sales people. While the unlicensed comprise the bulk of real estate sales networking, they are also responsible for most of the failed deals.
Under existing laws, the Professional Regulations Commission had been tasked to insure that only those are qualified and competent to deal in real estate transactions shall be given the requisite license. Therefore, apart from consultants, appraisers and brokers, salespersons must go through the process of licensing.
If you, as a buyer or as a seller of real property would want to be assured of a fair and legitimate deal, then talk to a licensed broker. They are bonded and have undergone several hours of training aside from the passing the mandatory government examination. They are not fly-by-night dealers and the PRC has made sure that appropriate documentation have been accomplished before license is issued.
Deal with licensed real estate brokers, ask for their PRC License. They will be glad and more than willing to show the license to you. Besides, not all has one.
Under existing laws, the Professional Regulations Commission had been tasked to insure that only those are qualified and competent to deal in real estate transactions shall be given the requisite license. Therefore, apart from consultants, appraisers and brokers, salespersons must go through the process of licensing.
If you, as a buyer or as a seller of real property would want to be assured of a fair and legitimate deal, then talk to a licensed broker. They are bonded and have undergone several hours of training aside from the passing the mandatory government examination. They are not fly-by-night dealers and the PRC has made sure that appropriate documentation have been accomplished before license is issued.
Deal with licensed real estate brokers, ask for their PRC License. They will be glad and more than willing to show the license to you. Besides, not all has one.
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