Foreign Reciprocity

QUESTION: Rltr. John, what is foreign reciprocity? How is it applied to real estate service? What is the position of IPORESP on foreign reciprocity?

This is a very nice advance topic. But I will give it here now before I go out and relax. Foreign Reciprocity is the effect of globalization. It's like world trade. It allows practitioners of one country to practice the profession in another country.

The primary link of foreign reciprocity is harmonization of procedure and performance audit system. Until such time will come that how it's done here becomes similar to how it's done in other countries, we can never achieve foreign reciprocity.

The primary barrier of globalization is TRUST FACTOR. Since laws and procedures in one country is different from the other, they don't trust one another. So, for now, in real estate service, there is no country yet that has foreign reciprocity agreement with another country.

IPORESP is in favor of foreign reciprocity because we want to EXPORT our skilled professional salespersons, brokers, appraisers, and project developers overseas; and we want them to be "acceptable" in other countries. But we want to make sure that we are the nucleus of this global development, not the periphery. Now, this is a long shot vision, but we will achieve it using two strategies: (1) PERFECT our procedures here in Philippines, and (2) cultivate the Realter (Rltr) as the medium to penetrate (through harmonization) the practitioners in other countries.

I felt like the information is too overwhelming for you. It's too deep. I'd rather we talk about it some other time when we achieve more in perfecting our procedures here in the Philippines.

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