SEC. 32. Corporate Practice of Real Estate Service
(A) No partnership or corporation shall engage in the business of real estate service practice unless it is duly registered with the Securities and Exchange Commission (SEC), and the persons authorized to act for the partnership or corporation are all duly registered and licensed brokers, appraisers or consultants, as the case may be. The partnership or corporation shall regularly submit a list of its real estate service practitioners to the Commission and to SEC as part of its annual reportorial requirements. There shall be at least one (1) licensed real estate broker for every twenty (20) accredited salespersons.
(B) Divisions or departments of partnership and corporation engaged in marketing or selling any real estate development project in the regular course of business must be headed by full-time registered and licensed real estate brokers.
C) Branch offices of real estate brokers, appraisers or consultants must be manned by a duly licensed real estate broker, appraiser or consultant as the case may be.
In case of resignation or termination from employment of a real estate service practitioner, the same shall be reported by the employer to the Board within a period not to exceed fifteen (15) days from the date of effectivity of the resignation or termination.
Subject to the provisions of the Labor Code, a corporation or partnership may hire the services of registered and licensed real estate brokers, appraisers or consultants on commission basis to perform real estate services and the latter shall be deemed independent contractors and not employees of such corporations.
SEC. 33. Display of License in the Place of Business
Every registered and licensed real estate service practitioner shall establish and maintain a principal place of business and such other branch offices as may be necessary, and shall conspicuously display therein the original and/or certified true copies of his/her certificate of registration and professional identification card as well as the certificates of registration and professional identification cards of all the real estate service practitioners employed in such office.
SEC. 34. Accreditation and Integration of Real Estate Service Associations
All real estate service associations shall be integrated into one (1) national organization, which shall be recognized by the Board, subject to the approval of the Commission, as the only accredited and integrated professional organization of real estate service practitioners pursuant to PRC Res. No. 2004-178 Series of 2004.
A real estate service practitioner duly registered with the Board shall automatically become a member of the accredited and integrated professional organization of real estate service practitioners, and shall receive the benefits and privileges appurtenant thereto; Provided, That the Board, subject to the approval by the Commission, shall issue a Resolution on the membership and payment of the fee therefor as a requirement for the renewal of the Professional Identification Card. The automatic membership in the accredited and integrated professional organization of real estate service practitioners shall not be a bar to membership in other associations association of real estate service practitioners.
SEC. 35. Code of Ethics and Responsibilities for Real Estate Service Practitioners
The Board shall adopt and promulgate the Code of Ethics and Responsibilities for real estate service practitioners which shall be prescribed and issued by the accredited and integrated professional organization (AIPO) of real estate service practitioners.
SEC. 36. Continuing Professional Education (CPE) Program
The Board shall develop, prescribe and promulgate guidelines on CPE upon consultation with the accredited and integrated professional organization of real estate service practitioners, affiliated association of real estate service practitioners and other concerned sectors, and in accordance with such policies as may have been prescribed by the Board, subject to the approval of the Commission. The Board shall create a CPE Council that shall be composed of a chairperson coming from the Board, a member from the accredited and integrated professional organization of real estate service practitioners and a member from the academe.
SEC. 37. Enforcement Assistance to the Board
The Board shall be assisted by the Commission in carrying out the provisions of the R.A. No 9646 and the IRR and other policies. The lawyers of the Commission shall act as prosecutors against illegal practitioners and other violators of R.A. No 9646 and the IRR. The duly constituted authorities of the government shall likewise assist the Board and the Commission in enforcing the provisions of the R.A. No 9646 and the IRR.
SEC. 38. Indication of the Certificate of Registration, Professional Identification Card Number, and Privilege Tax Receipt (PTR) Number, and Accredited Integrated Professional Organization (AIPO) Number
Real Estate service practitioners shall be required to indicate the certificate of registration, professional identification card, PTR Number, and AIPO membership and/or receipt number, and the date of issuance and the duration of validity on the documents he/she signs, uses or issues in connection with the practice of his/her profession.
RULE V
PENAL AND FINAL PROVISIONS
SEC. 39. Penal Provisions
Any violation of the R.A. No 9646, including violations of this IRR, shall be meted the penalty of a fine of not less than one hundred thousand pesos (P100,000.00) or imprisonment of not less than two (2) years, or both such fine and imprisonment upon the discretion of the court. In case the violation is committed by an unlicensed real estate service practitioner, the penalty shall be double the aforesaid fine and imprisonment.
In case the violation is committed, by a partnership, corporation, association or any other juridical person, the partner, president, director or manager who has committed or consented to or knowingly tolerated such violation shall be held directly liable and responsible for the acts as principal or as a co-principal with the other participants, if any.
SEC. 40. Appropriations
The chairperson of the Professional Regulation Commission shall immediately include in the Commission’s programs the implementation of R.A. No 9646 and the IRR the funding of which shall be included in the annual General Appropriation Act and thereafter.
SEC. 41. Transitory Provisions
Within ninety (90) days from the effectivity of the R.A. No 9646, the DTI - Bureau of Trade Regulation and Consumer Protection (BTRCP) shall transfer all pertinent records, documents and other materials to the Professional Regulatory Board of Real Estate Service.
SEC. 42. Implementing Rules and Regulations
Within six (6) months after the effectivity of the R.A. No. 9646, the Commission, together with the Board, and the accredited and integrated professional association of real estate service practitioners, and the CHED, shall prepare the necessary rules and regulations, including the Code of Ethics and Responsibilities for real estate service practitioners, needed to implement the provisions of the R.A. No 9646. The Board shall issue and promulgate a resolution for the IRR subject to review and approval by the Commission.
Nothing in R.A. No. 9646 and the IRR shall be construed or interpreted to the effect or prevent the practice of any other profession legally regulated by any other professional regulatory law.
SEC. 43. Separability Clause
If any clause, sentence, paragraph or part of the IRR shall be declared unconstitutional or invalid, such judgment shall not affect, invalidate or impair any other part thereof.
SEC. 44. Repealing Clause
1. Sections 3(e) and (ee) of Act No 2728, as amended by Act No 3715 and Act No 3969, Sections 472 and 473 of the Local Government Code of 1991 (RA 7160), and pertinent provisions of the Civil Service Law are hereby modified accordingly.
2. All laws, decrees, executive orders, memorandum orders and other administrative issuance or parts thereof which are inconsistent with the provisions of the R.A. No. 9646 and/or the IRR are hereby modified, superseded or repealed accordingly.
SEC. 45. Effectivity
This Act shall take effect fifteen (15) days following its publication in the Official Gazette or in a major daily newspaper of general circulation in the Philippines.
Done in the City of Manila this 21st day of July, 2010.
Signed by:
Eduardo Gutierrez-Ong
Chairman
Ramon F. Cuervo III
Member
Bansan C. Choa
Member
Rafael M. Fajardo
Member
Florencio C. Dino II
Member
ATTESTED BY:
Carlos G. Almerol
Secretary, Professional Regulatory Board
APPROVED:
Nicolas P. Lapena, Jr
Chairman, PRC
Antonio S. Adriano
Commissioner, PRC
Nilo L. Rosas
Commissioner, PRC
