Realty By JM

Salt and Light of Philippine Realty

IRR of RESA Law Published

The Professional Regulatory Board of Real Estate Service (PRBRES) / The “Board”, under the Professional Regulation Commission (PRC) / The “Commission” published the much anticipated and heavily talked about Implementing Rules and Regulations of Republic Act No. 9646, Known as The “Real Estate Service Act of The Philippines”.

After reading Realtor Mentor M. Bocaling’s facebook shoutout: ”

To all Real Estate Service Practitioners, the IMPLEMENTING RULES AND REGULATIONS (IRR) of R.A. 9646 is suppose to be out today at the Daily Inquirer and Star. Please grab your copy and go over the IRR.”

I immediately ran out and got myself a copy.

Rule.1.Sec.2 states: …and enhancing government income from real property-based transactions…  After reading this, my initial reaction was: “Oh no!  Does this mean more taxes for me?”

Then I reached: Rule.2.Sec.5.(h) PRBRES to safeguard and protect legitimate and licensed Real Estate Practitioners (RESPRAC) and completely eradicate the pernicious practices of unauthorized or unlicensed individuals;  My take: “I sure do hope so… I pay taxes to hopefully help the government clean the industry.  I’m happy to pay the government because ultimately they are there to protect me and my trade.  So, I encourage other RESPRACs to diligently and honestly do the same.”

What do you think dear brothers and sisters of the trade?  Are you willing to pay more taxes diligently and honestly to help our country and ultimately ourselves?


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Filed under: LAW, Real Estate Broker, Real Estate Salespersons, RESA IRR, , , , , , , , ,

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