QUESTION: Rltr. John, we are a law enforcement group tasked by DOJ to pursue violators of RA 9646 and PD 957, especially the illegal real estate advertisers. The manner of advertising in classified ads (print and internet) does not indicate the relationship of the advertiser to the property. In effect, we have a larger pool of advertisements to investigate. What is your policy suggestion that will reduce the pool of suspects? ANSWER: The government should publish an advisory or the publishers should voluntarily implement a corporate policy that advertisers of properties for sale and lease must indicate the advertiser-property relationship codes. FSBO means for-sale-by-owner. REB means PRC– and HLURB-registered Broker. SP means PRC– and HLURB-registered Salesperson. SPA means holder of Special Power of Attorney. DLR means HLURB-registered Dealer. AUC means Bank or LGU Auctioneer. The REB, SP, and DLR must indicate their license numbers. In Philippines, only REBs and SPs have professional authority to indicate themselves as contact person of project developments (condominiums, subdivisions, and burial lots) printed fliers and brochures that are distributed to the public. FSBOs, SPAs, DLRs, and AUCs are not required by law to have PRC license. To prevent fraudulent advertising, the ads of project developments should show the project’s HLURB License to Sell Number; and the ads of individually titled properties should show the Real Property Tax Declaration Number. Upon verification, the advertiser should be able to show the property folder that contains the title of the property, basis of authority to offer it for sale or lease, proof of identity of the advertiser, and other relevant documents. In case of difficulties in the due-diligence process, either on the buyer side or seller side, please have it professionally done by a real estate broker.
If there is anything else important that I forgot to include in this article, or if you experienced a real estate transaction that is anomalous, scam, fraudulent scheme that you want me to document and expose for others to be warned, or if you want to donate to the war chest of real estate consumer rights advocacy, please feel free to email me at JohnPetalcorin@Gmail.Com. If you want to comment about this article, there is a provision for this purpose that you can find below.
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