Google Pampanga Real Estate Guide, Trend and Review: Passing of the Republic Act 9646: Real Estate Service Act of the Philippines

Saturday, February 13, 2010

Passing of the Republic Act 9646: Real Estate Service Act of the Philippines


In the past 20 years, professional real estate organization and some lawmakers have been trying to pass this bill in its conception in the early 1980s. This bill has come to many version and many of these were not improved or let it die in the process without the recognition needed from the legislative and executive bodies of the congress and senate. However, on June 29, 2009, joint cooperation between congress and senate which was led by Senators Panfilo Lacson, Rodolfo Biazon and Antonio Trillanes with and other congressmen have recently given the much law professionalizing the realty trade which is necessarily needed in the real estate industry.

Groups such as Real Estate Broker Association of the Philippines have lobbied for this law to take effect in order to lessen the incidence of crime concerning the realty and at the same time professionalizing and streamlining the laws in the practice of this profession not just an occupation. In recognition of this, The Professional Regulation Commission has taken over the giving of examinations and licensing from Department of Trade and Industry - Bureau of Trade in such it will also create a board that overseers the realty trade and practice under the Professional Regulatory Board of Real Estate Services.


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