What is real property?

A
Includes all rights and benefits related to ownership
of real estate
2
Q
What is a real estate consultant?
A
Duly registered and licensed natural person who for
professional fee or other valuable consideration
offers or renders professional advice and judgment
on acquisition, enhancement, disposition etc of
lands and conception, planning, etc of real estate
projects
3
Q
What is a real estate broker?
A
Duly registered and licensed natural person who for
professional fee or other valuable consideration acts
as agent of a party in a real estate transaction
4
Q
What is AIPO?
A
Accredited and integrated professional organization

- the national integrated org of natural persons duly

licensed and registered as real estate service
practitioners
5
Q
What is IAPO?
A
Interim accredited professional organization

- accredited by commission only to operate and

perform activities or acts to and until recognition or
birth of AIPO
6
Q
Professional regulatory board of real estate
service
A
Under supervision and admin control of PRC

composed of a chairperson and four members

appointed by the president of the Philippines
2 members of the board shall represent the gov
assessors and appraisers, both in active gov service
7
Q
What are the qualifications for chairperson and
members of the board?
A
Citizen and resident of Philippines
Holder of bachelor degree related to real estate
Active licensed practitioner for at least ten years
prior
Bonafide member in good standing
Neither be member or facility of school, institute, etc
not review class center etc
Of good moral character
8
Q
What are the terms of office of the board?
A
Chairperson and member shall hold office for a term
of three years from date of appointment and until
their successors have been appointed
They may be reappointed for second term but
cannot serve continuously for more than 6 years
9
Q
What are qualifications for applicants for
examinations?
A
Citizen of Philippines

Holder of relevant bachelors degree provides they

have completed at least 120 credit units of real
estate subjects and training from accredited service
providers

Good moral character

Real estate consultant applicant must shoe proof if

at least ten years experience as licensed estate
broker or assessor
10
Q
Professional identification card
A
Renewed every three years upon satisfying
requirements of the board including attendance in
the CPE (continuing professional education) program
11
Q
Revocation or suspension of certificate or
professional ID card
A
Procurement of certificate of registration by fraud or
deceit

Allowing unqualified person to advertise or practice

using one's own vertical ion

Unprofessional or unethical conduct

Malpractice or violation of any provision in RA 9646

and code of ethics

Engaging in oractice during period of suspension

12
Q
Registration without examination
A
Those who on date of effectivity Of RA 9646 or as of
July 30 2009 are already licensed at real estate
brokers, appraisers or consultants by DTI provided
they have undertaken CPE or CEP

13
Q
Real estate practitioners failing to comply with
necessary CPE requirements within two years after
effectivity of RA 9646 or on or before July 30 2011
A
Will be required to rake board licensure examination
for real estate service ptacticioners
14
Q
Issuance of temporary or special permit
A
Upon application and payment and subject to
approval of commission, board may issue special or
temp permits to real estate service ptacticioners
from foreign countries whose services are urgently
needed
15
Q
Foreign reciprocity
A

No foreign real estate service practicioner maybe

admitted to licensure exam or be given professional
ID card unless the country of which they are a citizen
allows Filipino real estate service practicioner a to
practice within its territorial limits on the same basis
as citizens of that country
16
Q
Professional indemnity insurance/cash or surety
bond
A
All real estate brokers and private real estate
appraisers shall be required to post professional
indemnity insurance in amount to be determined by
board, which in no case shall be less than p20,000
and renewable every three years
17
Q
Exceptions from acts constituting practice of real
estate service
A
Any person, natural or juridical who shall perform by
himself acts mentioned with reference to his own
property (excluding real estate developers)

Any receiver, trustee or assignee in bankruptcy or

insolvency proceedings

Any person acting pursuant to order f justice

Any person who is duly constituted attorney in fact

for purposes of sale, mortgage, etc

Public officers in performance of their duties except

gov appraisers and assessors
18
Q
Supervision of real estate salespersons
A
No exam given provided that have completed 2
years of college and undergone at least 12 credit
units training in real estate brokerage

Shall be under direct supervision and accountability

of a broker. Cannot by themselves be signatories to
written agreement involving real estate transaction
No salesperson shall be entitled to demand fee or
commission except from duly licensee real estate
brother with direct control over him
19
Q
Corporate practice or real estate service
A
No partnership or cope shall engage in real estate
business unless duly registered with securities and
echo he commission (SEC).

1 licensed broker for every 20 accredited

salespersons

In case of registration or termination from

employment, must be reported to board within 15
days from date of effectivity
20
Q
What is an assessor?
A
Refers to official in the local government unit who
performs appraisal and assessment, etc.