April 1, 2010
The first Professional Regulatory Board of Real Estate Service [ PRBRES ] was finally created with the members thereof being inducted at oathtaking ceremonies held at the Professional Regulation Commission last Friday, 26th March 2010 at the PRC Office.
The Professional Regulatory Board of Real Estate Service is composed of the following:
1. EDUARDO G. ONG, Chairman,
Professional Regulatory Board of Real Estate Service
Dr. Eduardo G. Ong
2. BANSAN C. CHOA
3. RAMON C.F. CUERVO III ( PAREB Manila Board of Realtors®)
4. RAFAEL M. FAJARDO (PAREB-Bulacan Realtors® Board)
5. FLORENCIO DINO
Under Sec. 4, Article II of the Real Estate Service Act of the Philippines, the Professional Regulatory Board shall be created, as follows:
"SEC. 4. Creation and Composition of the Board. – There is hereby created a Professional Regulatory Board of Real Estate Service, hereinafter referred to as the Board, under the supervision and administrative control of the Professional Regulation Commission (PRC), hereinafter referred to as the Commission, composed of a chairperson and four (4) members who shall be appointed by the President of the Philippines from the three (3) recommendees chosen by the Commission from a list of five (5) nominees per position submitted by the accredited and integrated professional organization of real estate service practitioners: Provided, That two (2) of the members of the Board shall represent the government assessors and appraisers.
The first Board shall be organized within six (6) months from the effectivity of this Act."
As the RESA became effective last July 29, 2009, the Board should have been formed last January 2010 as the law provided that the first Board shall be organized within six (6) months from its effectivity. Notwithstanding the delay in the creation of the first Board, the final creation of the PREBRES is a welcome move as the real estate service industry has practically been at a standstill pending the creation of the Real Estate Service Board.
The first major task of the Real Estate Service Board is really to come up with the implementing rules and regulations to implement the Real Estate Service Act [ Implementing Rules and Regulations, RESA RA 9646 ] in order to guide the real estate service industry as to the implementation of the RESA.