QUESTION: Sir John, I work for a Broker, I just finished Salesperson Seminar and will soon be getting my registration in PRC. When I get my PRC Registration, can I sell properties without the participation of my Broker?
ANSWER: NO. YOU CAN'T. You can only sell properties that your Broker is authorized/accreditted to sell. You can neither close sale, because closing sale is an exclusive function of your Broker. You also cannot directly get accreditation from Developers, it has to be your Broker who will get the accreditation.
Developers who directly accredit Salespersons without Brokers is ILLEGAL. All Salespersons must be under DIRECT SUPERVISION of Brokers. Emplying Real Estate Salespersons is a privilege granted by RESA Law and PD 957 EXCLUSIVELY to BROKERS.
Broker-Salesperson relationship is an Agent-SubAgent relationship.
12/06/2011
Illegal for developers to directly accredit salespersons
QUESTION: Sir John, I work for a Broker, I just finished Salesperson Seminar and will soon be getting my registration in PRC. When I get my PRC Registration, can I sell properties without the participation of my Broker?
ANSWER: NO. YOU CAN'T. You can only sell properties that your Broker is authorized/accreditted to sell. You can neither close sale, because closing sale is an exclusive function of your Broker. You also cannot directly get accreditation from Developers, it has to be your Broker who will get the accreditation.
Developers who directly accredit Salespersons without Brokers is ILLEGAL. All Salespersons must be under DIRECT SUPERVISION of Brokers. Emplying Real Estate Salespersons is a privilege granted by RESA Law and PD 957 EXCLUSIVELY to BROKERS.
Broker-Salesperson relationship is an Agent-SubAgent relationship.
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