DAVAO CITY, Philippines—A group announced on Monday that it will soon be hunting down unlicensed real estate brokers.
The Philippine Association of Real Estate Boards Inc. (PAREB) was alarmed of the rising number of unlicensed land brokers who sell real estate properties illegally.
PAREB Vice President for Mindanao Roy C. Rabor, in a press conference, said the practice of selling land properties by “colorum” real estate agent was rampant in the region.
“Because of the rampant practice, 50 percent of the transactions go to unlicensed or colorum brokers,” he said.
He said that PAREB and the Registry of Deeds are set to sign a memorandum of agreement which aims to curb the problem. ‘
PAREB also mounted a campaign dubbed as YAKAP (Your Anti-Kolorum Advocacy) which aims to protect the public from fraudulent transactions done by unlicensed land agents.
“We are trying to educate not only the real estate practitioners but also the owners to deal with licensed real estate practitioners,” Rabar said.
According to Rabor, majority of the land or property owners are not aware of the R.A. 9646 or the Real Estate Service Act of the Philippines.
The Republic Act 9646 of 2009 is an act made to “regulate the practice of real estate service in the Philippines”. This requires the brokers to take the real estate management board exam for them to be certified licensed brokers.
PAREB is a national real estate service organization in the country. The group has 300 members in Davao City, he said.
Meanwhile, Davao Board of Realtors Foundation, Inc. President Hardinado V. Patnugot Jr. pointed out the campaign drive was not meant to demoralize the unlicensed land agents.
“Our approach will be to help [them to be] legal [land] brokers. We will embrace our fellow brokers who are not registered or licensed. We want to draw them in the organization so that they will have a chance to be professionalized,” he said. (davaotoday.com)