RESA Code of Ethics for

Philippine Real Estate

STATUS COMPLETE

WEEK @October 29, 2021

YT Vid Link https://www.youtube.com/watch?v=d17XVt4zN_g

By: Cardoniga, Annika

💡 Land is the most important Asset

Real Estate
Land along with any permanent improvements attached to the
land, whether natural or man-made.
Ex: Water, trees, minerals, buildings, homes, fences, and
bridges

Form of property

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 Some Real Estate Taxes
Capital Asset Gains Tax 6%

Tax that has to be paid for the sale of 12% VAT

the property from one person to another. 1.5%
Ordinary Asset Tax

Tax paid if you buy a property from a

developer

If above 10 Million there's a 12%

added VAT

Seniors aren't exempted

Documentary Stamps Tax

Registration Fee

Transfer Fee

Code of Ethics
set of principles of conduct within an organization,
institution or profession that guides decision making and
behavior.

Purpose of the code is to provide members and other

interested persons with the guidelines for making ethical
choices in the conduct of their work.

Professional integrity is the cornerstone of many

members' credibility.

Code of Conduct

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 set of rules and outlining the responsibilities or proper
practices for an individual or organization.

Includes ethical conduct and honor codes

National Code of Ethics and Responsibilities

for Real Estate Service Practitioners
Pursuant to Section 5 (f), Article II and Section 35, Article IV
of Republic Act (RA) No. 9646. otherwise known as "Real Estate
Service (PRBRES)

Section 5 (f) Article II: Adopt a National Code of Ethics and

Responsibilities to be strictly observed by all licensed real
estate service practitioners.

Section 35 Article II: The Board shall adopt and promulgate the
Code of Ethics and Responsibilities for real estate service
practitioners which shall be prescribed and issued by the
accredited and integrated professional organization of real
estate service practitioners

PREAMBLE
The Code of Ethics and Responsibilities is hereby promulgated
and adopted to govern the duties and responsibilities of the
real estate service practitioners to the general public, the
government, the client, the fellow practitioners, and the
Accredited and Integrated Professional Organization (AIPO).

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 Section 3G. "Real estate service practitioner" shall refer to
and consist of the following:

1. Real estate consultant

2. Real estate appraiser

3. Real estate assessor

4. Real estate broker

5. Real estate salesperson

Real Estate Consultant

Offers or renders professional advice and judgement

In charge of looking at properties on a Macro level or bigger

scale.

Real Estate Appraiser

performs or renders, or offers to perform services in

estimating and arriving at an opinion of or acts as an expert
on real estate values

Answers the question, "What is the value" of the property?

Most difficult item to Value: Sentimental Value

RESA Code of Ethics for Philippine Real Estate 4

 Real Estate Assessor

Works in a local government unit and performs appraisal and

assessment of real properties.

Real Estate Broker

Agent of a party in a real estate transaction

For a professional free, commission or other valuable

consideration.

LAMPSON

List, Advertise, Mediate, Promote, Solicit, Offer,

Negotiate, or Effect the meeting of the minds.

SPLEMJO

Sale, Purchase, Lease, Exchange, Mortgage, or Joint

Venture, or Other similar transactions on real estate or
any investment therein

Real Estate Salesperson

duly accredited that performs services in behalf of the real

estate broker.

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 Sec. 27. Acts Constituting the Practice of Real Estate Service.

Any single act or transaction embraced within the provisions

of Section 3(g) hereof, as performed by real estate service
practitioners, shall constitute an act of engaging in the
practice of real estate service.

💡 NEVER GIVE REBATES!!!

Final Provision
After observance of due process, any violation of this National
Code of Ethics and Responsibilities shall give rise to the
imposition of sanctions such as reprimand suspension or
revocation of license and other penalties in accordance to
Section 19 and the penalties as provided in Section 39 of RA No.
9646

Section 19 Rule III

Revocation or Suspension of the Certificate of Registration and
the Professional Identification Card or Cancellation of
Special/Temporary Permit.

Section 39 Rule V

Any violation of R.A. 9646, including violations of IRR will be

fines with not less than 100,000 pesos or not less than 2 years
imprisonment, or both fine and imprisonment of not less than 2
years.

RESA Code of Ethics for Philippine Real Estate 6

 QUESTIONS:

1. If being a broker you have to be a graduate in BSREM does it

apply as well sa consultant appraiser etc.?

2. In the top common unethical behaviors, what does it mean by

asking for exact address of property?

3. Going direct to Seller after property has been shown, mao

nang after your co-practitioner has shown you the listing mo
adto ka straight sa seller?

4. Section 3 Clients: The Practitioner shall not accept any

professional fee or valuable consideration from any party of
the real estate transactions except from his/her client
unless with the full knowledge and consent of all the
parties.

5. Section 4 Fellow Practitioners: The Practitioner shall not

use any vital documents relative the professional conduct
without written consent by the other Practitioner.

6. What does it mean by, Broker has another broker and another
broker?

7. Registered broker in PRC however not practicing but allowing

their licenses to be used is prohibited in law. Why is
prohibited when he is registered?

8. AIPO is not yet installed as of "now", if all practitioners

should be covered by the AIPO. How can they be covered if
expired or wala pay new integrated org.

9. What does it mean by Third licensed Real Estate Broker...

Not transmit to any Third licensed Real Estate Broker vital

information about the property listings/inventories via
electronic mails, SMS or published it any form of
announcements/advertisements without the written consent of the
Listing Broker

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