9/23/2010

Violent squatter demolition is a mark of unlicensed real estate agents

The violent removal of the squatters to pave the way for the transfer of possession of the property to the buyer is a result of failure of unlicensed real estate agents who negotiated the deal. Real Estate Agents in Philippines is 95% unlicensed -- big hazard to the public. Although there is already an IRR of Republic Act 9646 effective 8 August 2010 that will eradicate the unlicensed agents, the Professional Regulatory Board - Real Estate Service of PRC under the Aquino Administration is sleeping over its function.

Unlicensed agents always result to unprofessional execution of the deed of sale. Transactions without proper due diligence often result to violent demolition of liens and encumbrances.

Administrative review has to be done by PNoy to remove the current members of the Board of PRB-RES. These persons sitting on the PRB-RES now are not nominated by a democratic integration of real estate practitioners and they are somewhat last-minute appointees of GMA. When democracy is breached, the result is devastating to the Real Estate Industry.

Violent demolition like that is a fingerprint of unlicensed agents. Unlicensed agents proliferate because government fails to administer the real estate service professionalization law (RA 9646).

When licensed brokers negotiate the deal, there is always just compensation and smooth relocation for the current occupants and peaceful turnover of possession of property from owner to seller.

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