Capili: Sharing real estate with the architects (I)

By Roberto A. Capili

Real Estate Updates

Sunday, February 26, 2012

(Speech delivered by the author during the monthly general meeting of the Philippine Institute of Architects – PIA – Manila Section February 24, 2012 in Pasig City, Metro Manila)

FIRST of all, allow me to extend my deep appreciation for this invitation. It is indeed my great honor and rare privilege to be with you – the cream of the crop of Architects – in this meeting of the Philippine Institute of Architects (PIA), Manila Section, a prestigious organization in the forefront of the Architectural profession. On our part and as our humble share in increasing awareness in various disciplines allied with your profession, we shall share with you the latest developments as regards the real estate industry in general and the professional real estate service practice in particular.

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Personally, I have had many acquaintances and had actually worked with Architects in several projects which we jointly undertook and handled. I am greatly amazed and hold in high esteem their dedication and professionalism in their chosen field of expertise. The truth is, Architecture and Architectural practice shares a lot in common with Real Estate and Real Estate Practice.

Basically, both fields of Architecture and Real Estate serve as pillars in fulfilling one of the Basic Needs of Man – and that is Shelter. Along the service that we render in this endearing endeavor is the assurance that: Man and the populace lives in a livable and habitable dwelling, moves around in a place or neighborhood that is safe, peaceful and enjoyable and proud of a community that is well-planned and offers all the amenities and facilities that is needed: commercial centers; schools and educational institutions; hospitals, clinics and health centers; government centers and institutions and many others to mention a few, designed by Architects for the welfare of all. I can go on and recite all common grounds which Architects and Real Estate Practitioners share. But that is not what I am here for.

Which brings me to the main purpose of my presence here today with you. The updates on Real Estate. More than two (2) years ago, July 30, 2009 to be exact, a landmark legislation in the real estate business, the Real Estate Service Act (or in short RESA) by virtue of Republic Act No. 9646 was implemented.

The main purpose of the law was to professionalize real estate practice by requiring future practitioners to undergo a four-year college course in real estate and to pass a licensure examination conducted by the Professional Regulatory Board of Real Estate Service (or PRB-RES) in coordination with the Professional Regulation Commission (or PRC). As some of you know, real estate practice was then supervised and regulated by the Department of Trade and Industry (DTI) before RESA was implemented.

As a recognized profession under our Professional Service Act, Real Estate Service Practice is the newest calling under the wings of PRC, where you as Architects, had long been a standing and recognized member of the community of professionals. The objectives of the new real estate law are:

1. To promote the real estate market, stimulate economic activity and enhance government income from real property-based transactions.

2. To develop and nurture a corps of technically competent, responsible and respected professional real estate service practitioners.

3. To assure the development of real estate practitioners whose standards of practice and service shall be globally competitive through proper and effective regulation and supervision.

4. To promote the growth and development of the real estate industry.

The highlights of Resa could be summarized as follows:

The categories of real estate service practitioners are:

• Real Estate Consultant

• Real Estate Appraiser

• Real Estate Assessor

• Real Estate Broker

• Real Estate Salesperson

> THE CREATION OF A PROFESSIONAL REGULATORY BOARD OF REAL ESTATE SERVICE (PRB-RES) composed of a Chairperson and four (4) Members appointed by the President of the Philippines. It shall have the over-all supervision and regulation of the real estate service practice in the Philippines.

> LICENSURE EXAMINATION. Every applicant seeking to be registered and licensed as a real estate service practitioner, except a real estate salesperson, shall undergo an examination to be given by the PRB-RES. (to be continued)

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(The writer is a Certified Public Accountant and president of the Baguio Realtors Board, Inc. Apart from being a recognized Real Estate Practitioner as a Real Estate Broker and Educator, Lecturer and Resource Person, he is likewise a Business Management/NGO/Cooperative Consultant, Project Development Consultant, Financial Advisor/Loan Broker and Columnist. For comments and more information of Real Estate Updates and Studies, you may get in touch with him at No. 04 Old Forestry Compound, Baguio City 2600, Tel. No (074) 427-1971/ Cell Nos. 09109302753/09163188274 or email: bert_capili@yahoo.com/ bertcapili65@hotmail.com).

Published in the Sun.Star Baguio newspaper on February 27, 2012.

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Capili: Sharing real estate with the architects (I)