RESA junked by stakeholders as PRC refuses to implement it fully

Time is up. Let us compete by salesmanship skills. RESA policy against colorum will not be implemented. To preserve perfect competition and level the playing field, we can NOW ALL engage the services of colorum. Let's all enjoy the freedom of the market. There is no need to renew Broker's licenses. There is no need to register Salespersons. I advise everyone to delete all anti-colorum and pro-RESA blogs. Take note, my advise is DELETE, not archive, not hide, it has to be DELETE. Staring today, NO MORE RESA. PRC is not signing the Anti-Colorum Onset Date of Implementation.

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.
Thank you so much for visiting my site. May God Bless You!


QUESTION: Sir John, question..how can we accredit to bank if our license was expired...their req is updated PRC licnse though we're on licensing strike..and PRC reqires a cpe units of 60. (Broker)

ANSWER: Send the client (bank, developer, independent property owner, buyer, etc.) an email or letter informing them we are on Licensing Strike but will not affect our operations to entertain and find customers for their products.

The "updated license" is only required for those with updated license. Those who have no license can still sell and make money in real estate agent services because the PRC has not yet responded with an official ruling to our letters regarding clarification on the ONSET DATE of full implementation of various provisions in RESA (you can quote me on this and I will stand in court to testify on this).

Everyone without license can STILL sell even if you set up your selling kiosk in front of PRC. As persons who derive income primarily from real estate expertise, how dare can you say you can't find buyers without that useless PRC card?

You can still shoot the gun if necessary for self-preservation purposes, even during gun ban, or even when your license is expired.

Advise the bank to wait for Official Memo signed JOINTLY by PRC and PNP addressed to banks, developers, and all licensed real estate brokers on the ONSET DATE of full implementation of RESA particularly on REPORTING and LAW ENFORCEMENT PROCEDURE against unlicensed practitioners. Inform the bank that their selling competitors (the Developers) and everyone else without license are still unacted upon by PRC, as of this date of posting, INDEFINITELY.


Indian Real Estate said...

Amazing article. I really enjoyed reading your blog. Thanks for sharing such a great article with us.

Jay Rivera said...

Dear John,

I was wondering if you could shed some light on this blog post:

My wife wants to be a real estate agent but I am not sure if she should get a license or not.

Is it worth it for her to get a license or should she avoid it as you suggest?

Will there be any consequences if she doesn't get a license?

Thank you so much. I am one of your readers.

Rltr. John R. Petalcorin said...

Licensing is like buying a ticket to ride a boat. When you purchase a Broker's license, you expect to be in the business class accommodation. What is happening now is the Boat Management (referring to the Government) are tolerating free-riders (those who have no license) to just enter the boat, enjoy the boat, and even congest the business class section and they also eat the limited food being served in the business class section. Ang walang ticket, nakahiga sa kutson na kama, at yung mga may ticket ay sa sahig na lang natutulog. Kawawa naman ang nag-bayad ng ticket, wala pa namang refund yang ticket. Ganito ang scenario ngayon. Decision mo yan kung ano gagawin mo.

Jay Rivera said...


Thanks so much for replying to my comment.

I am still confused. Is RESA really dead?

You wrote: "RESA policy against colorum will not be implemented."

I have heard that from a lot of people but I don't know where the information is coming from.

Isn't this proof it is being implemented:

Is there anything else that still needs to be signed?

The PRC website throws me off since it indicates that it is in fact being implemented and that it is in full force. But I've read on your blog that it won't be implemented.

I am sorry you got the short end of the stick. I respect your professionalism.

Rltr. John R. Petalcorin said...

If you read the RESA original text and compare it side-by-side to the IRR, you will notice that it is almost the same, but with some heavy fleshing on the Continuing Professional Education (making money). The IRR did not pass through proper consultation; it is insufficient as it lacks flesh on the more important provisions such as law enforcement mechanism. As I said, the RESA is there, and the IRR is there; but it is not ENFORCEABLE; meaning, those who practice the profession without PRC Registration are still being tolerated by government to operate in the open such as malls and even in regular corporate setting. Again, as I said, THERE IS NO IRR ON LAW ENFORCEMENT PROVISION. I formally requested PRC to release a Lew Enforcement Memorandum to all government law enforcement agencies, but they WON'T. Just like the boat ticket. They have rules but they still allow those without tickets to free-ride on the boat.

Rltr. John R. Petalcorin said...

Please read my blog on the Licensing Strike. You will find links to our letters to PRC that fell in deaf ears. Not actually deaf, but more of ears that are plugged with money, most probably from real estate development tycoons who exploit the services of colorum real estate agents.

Jay Rivera 692 said...

Thanks so much. I will read that and a lot of your other blog posts too.

Your website has a lot of informative.