Developers’ group seeks changes to RESA Law
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by Land Asia Listings
- June 30, 2017
- News
- 0
01:03 AM June 24, 2017
http://business.inquirer.net/2
The largest organization of developers and stakeholders in the real estate industry has sought for the amendment of key provisions of the Real Estate Service Act, more commonly known as the Resa Law.
Section 28 of the law states that its provisions and rules and regulations shall not apply to any person, natural or judicial, who shall directly perform by himself the acts of a real estate service practitioner with reference to his or its own property, “except real estate developers.”
“The prohibition for developers to sell their own [projects] is counter-productive and puts landowners at a very disadvantageous position,” said Creba national president Charlie A. V. Gorayeb.
Creba national chair Noel M. Cariño also assailed the discriminatory scholastic requirements for real estate salespersons before they can get accredited and registered by the Professional Regulatory Board of Real Estate Service.
Creba thus sought to reduce the academic requirements for salespersons, provided they undergo relevant training or are certified by the licensed broker supervising them.
The association also called for the removal of policy limiting the supervision of only 20 salespersons per licensed broker, and had sought clarification on the requirement for real estate brokers to register under the Housing and Land Use Regulatory Board (HLURB).
