QUESTION: Sir John, I am a registered Real Estate Salesperson. Am I allowed by law to make money as an independent agent of property sellers or buyers without the knowledge of the license Broker under whom my license is registered? ANSWER: Definitely NO! What you are planning to do is a violation of Section 31 of R.A. No. 9646 and its IRR.
Section 31 of R.A. 9646 (Real Estate Service Act of 2009) says:
....Real estate salespersons shall be under the direct supervision and accountability of a real estate broker. As such, they cannot by themselves be signatories to a written agreement involving a real estate transaction unless the real estate broker who has direct supervision and accountability over them is also signatory thereto.
No real estate salesperson, either directly or indirectly, can negotiate, mediate or transact any real estate transaction for and in behalf of a real estate broker without first securing an authorized accreditation as real estate salesperson for the real estate broker as prescribed by the Board.
A real estate broker shall be guilty of violating R.A. No 9646 or the IRR for employing or utilizing the services of a real estate salesperson when he/she has not secured the required accreditation from the Board prior to such employment.
No salesperson shall be entitled to receive or demand a fee, commission or compensation of any kind from any person, other than the duly licensed real estate broker who has direct control and supervision over him, for any service rendered or work done by such salesperson in any real estate transaction.
No violation of this provision shall be cause for revocation or suspension of the certificate of registration of the real estate broker unless there was actual knowledge of such violation or the broker retains the benefits, profits or proceeds of a transaction wrongfully negotiated by the salesperson.
No comments:
Post a Comment