Real Estate Service Act of the Philippines (RESA), Republic Act No. 9646

In the never-ending expansion of the Philippine property market, trust and professionalism are what builds a successful transaction. These virtues will not only lead us to success but bring connections and opportunities like no other. Thus, to uphold these values, the government enacted the Real Estate Service Act of the Philippines (RESA), Republic Act No. 9646, a fundamental law that ensures the practice of real estate is regulated, ethical, and aligned with global standards.

What is RESA?

Passed in 2009, RESA was designed to professionalize the real estate industry by requiring practitioners to secure licenses through the Professional Regulation Commission (PRC). The law also established the Professional Regulatory Board of Real Estate Service (PRBRES) to oversee licensure examinations, enforce ethical standards, and monitor compliance.

The Practitioners: Who They Are and What They Do

Under the Real Estate Service Act (RESA), four categories of licensed professionals play a vital role in ensuring property transactions are conducted legally, ethically, and efficiently.

• Real Estate Salespersons

Salespersons assist in promoting and selling properties under the supervision of a licensed broker. They directly engage with clients, present property options, and support the transaction process, making them key players in customer service and client relations.

• Real Estate Brokers

Brokers act as the bridge between property buyers and sellers. They handle negotiations, prepare documentation, and ensure that every transaction complies with legal requirements. Their role is to guide clients through the process and secure the best possible terms.

• Real Estate Appraisers

Appraisers determine the fair market value of properties based on location, condition, and current market trends. Their services are essential in buying, selling, taxation, lending, and investment decisions, as they provide an objective and professional valuation.

• Real Estate Consultants

Consultants offer expert advice on property development, investment strategies, and project feasibility. With their in-depth knowledge of market dynamics and long-term trends, they provide guidance to investors, developers, and institutions seeking to maximize opportunities in the property market.

Why Does RESA Matter?

RESA plays a crucial role in protecting buyers, sellers, and investors in the property market. Requiring that only licensed professionals manage transactions, the law reduces the risks of fraud and misrepresentation while promoting fairness and integrity. This ensures that every property deal is conducted with trust, transparency, and accountability.

At PRIME Philippines, we uphold the principles of RESA by ensuring that our team is composed of licensed professionals who are committed to guiding clients with expertise and integrity, making every property transaction a secure and rewarding experience.