SECORIN, JOSUE B.

BSREM SC 2YR
What can you say about the Old Code of Ethics and the New Code of Ethics?

The Realty Service Practice, a profession, calling or occupation, is dedicated to the promotions,
development including proper zonification and conservation of land and natural resources, including
improvements and rights and interests appurtenant thereof for the benefit and enjoyment of the
Filipino people. As such, those engaged therein are bound by a code of conduct, morals and values in
the performance of their duties and obligations towards the government, copractitioners and the
people they serve.
Republic Act No. 9646 or the Real Estate Service Act of the Philippines, which is more commonly
referred to as the RESA laws the law that protects the rights of those who call themselves as real estate
professionals. This said law took effect on July 30, 2009 and it deals primarily with the acts considered to
be real estate services, the penalties corresponding to violations of its provisions and the qualifications
of those who may practice the profession. Furthermore, the law is meant to prevent the practice of
“colorum” agents and also property sellers who are still patronizing to the so-called freelance illegal
property agents to avoid paying taxes and proper commission rates.

What can you say on the implementation of the Code of Ethics?

As used in this Code and for the purpose hereof, the Realty Service Practice shall embrace and include
all persons, partnerships or corporation who are duly licensed by the Department of Trade and Industry
in accordance with Section 3(e) and (ee) of Act No. 2728 as amended by Act 3715 and 3969 and Ministry
Order No. 39, Series of 1985 as real estate salesman, broker, appraiser or consultant and such other
practitioners as the Directors of Department of Trade and Industry may now or hereafter license
pursuant to any law, rule or regulation that may be promulgated by the Government. They shall be
called Realty Service Practitioners hereinafter known as Practitioners.

The law protects the rights of those who call themselves real estate professionals, and also lays down
the rules which these professionals have to adhere to, so that they may be registered under the
Professional Regulation Commission (PRC) and be allowed to continue their practice.