[Basic Knowledge for Brokers] The Implementing Rules and Regulation (IRR) of the R.A. 9646 was published in the Philippine Daily Inquirer on July 24, 2010. In accordance with Sec. 45 of the IRR, it shall take effect on 8 August 2010.
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SEC. 6. Qualifications of the Chairperson and the Members of the Board
The chairperson and the members of the Board shall, at the time of their appointment, possess the following qualifications:
(A) Citizen and resident of the Philippines;
(B) Holder of a bachelors degree related to real estate;
(C) An active licensed practitioner of real estate service for at least ten (10) years prior to his/her appointment;
(D) A bona fide member in good standing of the accredited and integrated professional organization of real estate service practitioners but not an officer or trustee at the time of his/her appointment;
(E) Neither be a member of the faculty of an institute, school, college or university, nor have any pecuniary interest, direct or indirect, in any institution or association where review classes or lectures in preparation for the licensure examination are being offered or conducted; and
(F) Of good moral character, and must not have been convicted by final judgment by a competent court of a criminal offense involving moral turpitude.
SEC. 7. Term of Office
The chairperson and the members of the Board shall hold office for a term of three (3) years from the date of their appointment and until their successor/s shall have been appointed: Provided, That the members of the first appointed Board shall hold office for the following terms: one (1) member as chairperson, to serve for three (3) years; two (2) members, to serve for two (2) years; and two (2) members, to serve for one (1) year.
The chairperson and the members of the Board may be reappointed for a second term but in no case shall he/she serve continuously for more than six (6) years. Any vacancy in the Board shall be filled for the unexpired portion of the term, of the member who vacated the position. On the constitution of the first Board, the chairperson and the members of the Board shall automatically be registered and issued certificates of registration and professional identification cards. Each member of the Board shall take the proper oath of office prior to the assumption of duty.
SEC. 8. Compensation and Allowances of the Chairperson and the Members of the Board
The chairman and the members of the Board shall receive compensation and allowances comparable to the compensation and allowances received by the chairman and the members of existing professional regulatory boards under the Commission, as provided for in the General Appropriations Act, the Salary Standardization Law, and the Joint Circular issued by the Commission and the Department of Budget and Management (DBM).
SEC. 9. Removal of the Chairperson and the Members of the Board
The chairperson or any member of the Board may be suspended or removed by the President of the Philippines, upon the recommendation of the Commission and after due notice and hearing in a proper administrative investigation to be conducted by the Commission on the following grounds:
1. Neglect of duty,
2. Abuse of power,
5. Unprofessional, unethical conduct,
6. Immoral or dishonorable conduct,
7. Commission or toleration of irregularities in the conduct of examination or tampering of the grades, or
8. For final judgment or conviction of any criminal offense involving moral turpitude.
The Commission in the conduct of investigation shall be guided by Sec. 7 (s) of R.A. No. 8981 and its rules on administrative investigation.
SEC. 10. Supervision of the Board, Custodian of its Records, Secretariat and Support Services
The Board shall be under the general supervision and administrative control of the Commission. All records of the Board, including applications for examination, examination papers and results, minutes of deliberations, administrative and other investigate cases involving real estate service practitioners, shall be kept by the Commission. The Commission shall designate the secretary of the Board at the office, Secretary, Professional Regulatory Boards and shall provide the secretariat and other support services to implement the provisions of R.A. No. 9646 subject to the usual government accounting and auditing rules and regulations.
SEC. 11. Annual Report
The Board shall, at the close of each calendar year submit an annual report to the Commission, giving a detailed account of its proceedings and accomplishments during the year and recommending measures to be adopted with the end-in-view of upgrading and improving the conditions affecting the practice of real estate service in the Philippines.
LICENSURE EXAMINATION AND REGISTRATION
SEC. 12. Licensure Examination
Every applicant seeking to be registered and licensed as a real estate service practitioner, except a real estate salesperson, shall undergo an examination to be given by the Board as provided for in R.A. No. 9646. Examinations for the practice of real estate service in the Philippines shall be given by the Board in such places and dates as the Commission may designate in the Master Schedules of Board Licensure Examinations for Professionals for the year as issued by the Commission.
SEC. 13. Scope of Examination
The licensure examination for the applicants for real estate brokers, real estate appraisers and real estate consultants shal cover, but not limited to, the following:
CA) For Real Estate Consultants:
1. Fundamentals of real estate consulting;
2. Standards and ethics;
3. Consulting tools and techniques, which include project feasibility study and investment measurement tools;
4. Real estate finance and economics;
5. Real estate consulting and investment analysis;
6. Consulting for specific engagement, which include consulting for commercial, industrial, recreation, and resort and hotel properties, and consulting for government and corporate and financial institutions;
7. Land management system and real property laws; and
8. Any other related subjects as may be determined by the Board.
(B) For Real Estate Appraisers:
1. Fundamentals of real estate principles and practices;
2. Standards and ethics;
3. Theories and principles in appraisal;
4. Human and physical geography;
5. Methodology of appraisal approaches;
6. Valuation procedures and research;
7. Appraisal of machinery and equipment;
8. Practical appraisal mathematics;
9. Appraisal report writing;
10. Real estate finance and economics;
11. Case studies;
12. Land management system and real property laws; and
13. Any other related subjects as may be determined by the Board; and
(C) For Real Estate Brokers:
1. Fundamentals of property ownership;
2. Code of ethics and responsibilities;
3. Legal requirements for real estate practice;
4. Real estate brokerage practice;
5. Subdivision development;
6. Condominium concept and other types of real estate holdings;
7. Real estate finance and economics;
8. Basic principles of ecology;
9. Urban and rural land use;
10. Planning, development and zoning;
11. Legal aspect of sale, mortgage and lease;
12. Documentation and registration;
13. Real property laws and taxation; and
14. Any other related subjects as may be determined by the Board.
To conform with technological and modern developments, the Board may re-cluster, rearrange, modify, add to or exclude any of the foregoing subjects and their syllabi with tables of specifications as may be necessary.
SEC. 14. Qualifications of Applicants for Examinations
In order to be admitted to the licensure examination for real estate service, a candidate at the time of filing his/her application, shall establish to the satisfaction of the Board that he/she possesses the following qualifications:
(A) Citizen of the Philippines,
(B) A holder of relevant bachelor’s degree from a state university or college, or other educational institution duly recognized by CHED: Provided, That he/she has completed at least one hundred twenty (120) credit units of real estate subjects and training from accredited service providers, as may be determined by the Board; Provided, further, That as soon as a course leading to Bachelor’s Degree in Real Estate Service is implemented by the CHED, the Board shall make this course a requirement for taking the licensure examination,
(C) Is of good moral character, must not have been convicted of any crime involving moral turpitude,
(D) An applicant for the licensure examination for real estate consultants must show proof that he/she has at least ten (10) years experience as a licensed estate broker, or an assessor, or as a bank, or institutional appraiser, or an employed person performing real property valuation, or at least five (5) years experience as a licensed real estate appraiser.
All applicants for examination shall be filed with the Board who shall assess and approve said applications and issue to the qualified examinees the corresponding permits or notices of admission to take such examination upon submission of the following documents:
1. Original and photocopy of Birth Certificate or Certificate of Live Birth (NSO) and/or valid Philippine passport, or any other proof of citizenship,
2. Original and photocopy of transcript of records and/or diploma with scanned picture,
3. Original and photocopy of notarized certification by employer of his/her years of experience or pre-requisite Certificate of Registration (COR) and/or Professional Identification Card (PIC) or DTI license (for real estate consultants),
4. Original and photocopy of NBI clearance,
5. Original and photocopy of duly notarized accredited seminar and/or training certificate,
6. Community tax certificate,
7. Four (4) colored passport size pictures with white background and complete nametag and other documents in accordance with the requirements set by the Commission.
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