Full-service real estate and brokerage firm.
(63) 954-997-3832
Can anyone act as a real estate broker or agent without a license?
Can anyone act as a broker or agent of real estate transactions?
No, not just anyone can act as a broker or agent in real estate transactions. To legally facilitate the sale, purchase, or lease of real property, individuals must obtain the appropriate license. Engaging in real estate transactions without the necessary credentials is not only unethical but also illegal.
What are the consequences of acting as a broker or agent without the appropriate license?
Individuals who act as brokers or agents without the requisite license may face severe legal repercussions under Republic Act No. 9646, commonly referred to as the “Real Estate Service Act of the Philippines.” The law imposes penalties that can include a fine of at least one hundred thousand pesos (₱100,000.00), imprisonment for a minimum duration of two years, or both, depending on the court's discretion. These measures are in place to protect consumers and maintain the integrity of real estate transactions.
What steps should a person take to legally become a broker or agent?
To legally operate as a real estate broker or agent and receive a professional fee, commission, or other forms of remuneration, an individual must complete the necessary registration and obtain a license from the Professional Regulation Commission (PRC). This process typically requires educational qualifications, passing a licensure examination, and complying with other regulatory requirements. It's crucial to adhere to these regulations to ensure the protection of both the agent and the clients.
What can be done about unlicensed individuals acting as agents?
Unfortunately, many individuals may attempt to circumvent the law by acting as agents or brokers without the appropriate licenses. This poses risks to buyers and sellers, who may find themselves vulnerable to fraud or poor advice. It's essential for individuals engaged in real estate transactions to conduct thorough due diligence, including verifying the credentials of any broker or agent they consider working with.
If you are looking for reliable and licensed professionals in real estate, we invite you to consider Barrister Realty. Our team comprises lawyers, tax experts, and experienced real estate professionals who are dedicated to providing personalized service and comprehensive guidance throughout your real estate journey. Contact us today for expert assistance, ensuring your transactions are handled with the utmost care and legal compliance. Here are our details:
(63) 954-997-3832.