DTI Iligan announces transfer of regulation of real estate practice to PRC

DTI Iligan announces transfer of regulation of real estate practice to PRC

Iligan City (11 August) — With the passage of Republic Act 9646 also known as the Real Estate Service Act of the Philippines, the Department of Trade and Industry (DTI) transferred the regulation of the real estate practice to the Professional Regulation Commission (PRC).

Ruel B. Paclipan, provincial director, DTI Iligan City / Lanao del Norte Provincial Office, said that RA 9646 repeals Section 3(e) of Act No. 2728, the law from which DTI draws its authority to regulate the real estate service, thus, we have to transfer the function to the PRC.

He explained further, under Section 17, issuance of the Certificate of Registration and Professional Identification Card of real estate practitioners will also be released by the PRC.

“A certificate of registration shall be issued to examinees who pass the licensure examination for real estate service subject to payment of fees prescribed by the Commission,” said Paclipan.

The certificate of registration shall remain in full force and effect until revoked or suspended in accordance with the Act.

Paclipan added that a professional identification card bearing the registration number, date of issuance and expiry date, duly signed by the chairperson of the PRC, be issued to every registrant upon payment of the required fees.

The professional identification card shall be renewed every three (3) years and upon satisfying the requirements of the Board such as, but not limited to, attendance in this program.

Also, RA 9646 mandates DTI’s Bureau of Trade Regulation and Consumer Protection to transfer all pertinent records to the PRC ninety (90) days from the effectivity of the law.

Starting, July 30, 2009, DTI field offices will no longer accept applications for license, whether initial or renewal or real estate consultants, appraisers, brokers and salespersons, Paclipan disclosed. (PIA Lanao del Norte / DTI Iligan)

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