August 8, 2010 marks the implementation of the IRR of Real Estate Service Act. But the Professional Regulatory Board of Real Estate Service still has no guideline, procedure, and letter of instruction on law enforcement specifically on how they will receive and process reports about colorum real estate agents. The malls are still swarmed with unlicensed real estate agents hired by legitimate real estate developers. The Aquino Administration is sleeping on it's function to enforce the law.
The cause of the failure is the current PRB-RES are last-minute appointees of GMA. They are not recommended by a legitimate democracy of a Integrated Profesional Organization of Real Estate Practitioners. They are inactive in enforcing the law because of conflict of interest, they have interests in some developers who employ unlicesed real estate agents. The result of colorum agents is very damaging to the real estate industry, just look at the Pag-Ibig loan scams, that's just one example of deliberate unprofessionalism.
The solution is simple. (1) The current members of the PRB-RES has to resign or get fired by PNoy. (2) The PRC should organize a National Convention for the licensed real estate practitioners so we can select nominees in a democratic process. Then the democracy will naturally find its way to the right path.