May 08, 2019

HLURB requirement: Registration of Agents and Brokers.

We should slowly start professionalizing our sales force in accordance with Resoltuion no 922 of 2015 of HLURB registration of brokers and agents. (for our protection in view of Panga and Calamba scandals)

https://cesacademy.com/board-resolution-no-921-and-922-recently-approved-irr-by-hlurb/

Section 6 – All brokers and salespersons must be registered and licensed or accredited by the Professional Regulatory Board of Real Estate Service before they can engage in the practice of real estate services.

Section 7 – All business firms shall likewise first register with the HLURB in accordance with its existing rules and guidelines before they can engage in the practice of real estate service.

Section 8 – All applicants shall file a bond or security of P5,000 for dealers and brokers and P1,000 for salespersons. All business firms, on the other hand, shall post a bond of P20,000.

Section 10 – Any dealer, broker, salesperson and business firm who engages in real estate practice without registering the project with the HLURB or using an expired HLURB permit will be fined P10,000 and P5,000 respectively.


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