Real estate brokerage is one of the important economic activities, contributing to the stabilisation and sustainable

development of the real estate market

According to PD 957 Title 1 Section 2

b) Sale or sell. "Sale" or "sell" shall include every disposition, or attempt to dispose, for a valuable consideration,
of a subdivision lot, including the building and other improvements thereof, if any, in a subdivision project or a
condominium unit in a condominium project. "Sale" and "sell" shall also include a contract to sell, a contract of
purchase and sale, an exchange, an attempt to sell, an option of sale or purchase, a solicitation of a sale, or an
offer to sell, directly or by an agent, or by a circular, letter, advertisement or otherwise.

(c) Buy and purchase. The "buy" and "purchase" shall include any contract to buy, purchase, or otherwise
acquire for a valuable consideration a subdivision lot, including the building and other improvements, if any, in a
subdivision project or a condominium unit in a condominium project.

(j) Developer. "Developer" shall mean the person who develops or improves the subdivision project or
condominium project for and in behalf of the owner thereof.

(k) Dealer. "Dealer" shall mean any person directly engaged as principal in the business of buying, selling or
exchanging real estate whether on a full-time or part-time basis.

(l) Broker. "Broker" shall mean any person who, for commission or other compensation, undertakes to sell or
negotiate the sale of a real estate belonging to another.

(m) Salesman. "Salesman" shall refer to the person regularly employed by a broker to perform, for and in his
behalf, any or all functions of a real estate broker.

According to R.A 9646 Section 3 Letter (c) "Real estate" refers to the land and all those items
which are attached to the land. It is the physical, tangible entity, together with all the additions or improvements
on, above or below the ground.

Section 32. Corporate Practice of the Real Estate Service. -

(a) No partnership or corporation shall engage in the business of real estate service 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 real estate 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 the SEC as part of its annual reportorial
requirements. There shall at least be one (1) licensed real estate broker for every twenty (20) accredited
salespersons.

(b) Divisions or departments of partnerships and corporations 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.

Section 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 as well as the certificates of registration of all the real estate service practitioners employed in such
office.

Business registration in the Philippines is an essential legal document that companies must possess before
operating. It is essential because it complies with the Republic Act 3883, also known as the Business Name
Law.

HOW DID REAL ESTATE BROKERAGE IN THE PHILIPPINES BEGIN? Tracing the
practice's origins can help us understand how it came to be. There were significant
real estate transactions in the past, but few, if any, used the services of real
estate or middlemen.
People who acted as brokers did not realize that they were acting as real estate
service practitioners; instead, they thought that since they were commercial
agents, dealing with real estate was a part of their line of work. Dealing with
business transactions involves real estate as well as goods, products, commodities,
and services frequently. There were no distinctions made between intermediaries
and commercial brokers in terms of the goods or services they offered. They were
just managing any commercial initiatives that needed to be handled.
At the onset of World War I, that is around the mid-1910's, traces of commercial
brokerage operations began when foreign merchants and dealers developed a
specific interest in business assets, especially real estate, in the Philippines. To
begin and develop their commercial enterprises in our nation, companies must
often buy parcels of land on which to build their factories or establish their
trading stores. Apart from that, they need offices in order to perform their
business. Real estate brokerage transactions were then set off and grown further.
It all started with buying and selling real estate, as well as leasing it.
Real estate brokerage as an organized calling or profession was pioneered in the
Philippines in the early 1920’s by MR COLLIN M. HOSKINS, an American military
serviceman of World War 1 who later turned to business. He started to engage in
real estate and became whole/full time job. He began buying land and other real
estate for his personal use, and as his business grew, he began helping his
partners, colleagues, and other merchants buy real estate as well. So his obsession
was raise the standard of practice in the real estate brokerage business. And At
that time, there was no law or government agency that regulated the operations
of the real estate brokers.
This practice developed as a result of the demand for the convenient and expert
services of middlemen who would try to negotiate the sale or lease of real estate
properties on behalf of the purchasers or lessees, effectively bridging the gap to
bring about the “meeting of the minds” of the parties to their mutual benefit.
Just before the World War II in Pacific broke out, Mr. Hoskins on November 7, 1938
founded the Manila Board Realtors and set up the drafting of the rules and
regulations on brokerage called “COMMERCE ADMINISTRATIVE ORDER NO. 3-6,
promulgated and adopted on July 29, 1939. This Code served as the guiding rules
and regulations in the formal practice of real estate brokerage in the Philippines.
In 1960, the requirement on examination for licensing as a Real Estate Broker was
imposed for the first time. This was embodied as part of the new provisions of the
revised regulations under Commerce Administrative Code No. 60-1 dated April 28,
1960 promulgated by the then Bureau of Domestic Trade. Since then, many took
interest in real estate business where hundreds and even thousands of examinees
have trooped to various examination centers around the country to take the
Brokers examinations conducted yearly or even twice a year in some urban testing
centers like Manila and Cebu.
Prior to the passage of the new real estate law in 2009, the enabling law that
covered the regulation of real estate practice was ACT NO. 2728 - Applicable Law
on Real Estate Brokerage, which was later amended by ACT NOS. 3715 and 3969
and Executive Order No. 913. However, it was MINISTRY ORDER (M.O.) NO. 39,
Series of 1985 that expanded the scope of the coverage of real estate practice
that included not only the real estate brokers, but also real estate appraisers and
real estate consultants.
M. O. No. 39 was the Administrative Order promulgated by then Ministry of Trade
and Industry (now the Department of Trade and Industry - DTI) which expanded
the Real Estate Brokerage Practice under ACT NO. 2728 and served as the enabling
law that recognized the real estate practice and profession.
In 1992, DTI’s Department Administrative Order (DAO) No. 97 created the Realty
Service Council of the Philippines (RESCOP). It mandated the RESCOP as the
consultative body of the DTI under the following actions:
READ THE SLIDE
On June 29, 2009, RESA, after much lobbying from many real estate associations
and stakeholders was finally approved by President Gloria M. Arroyo and which
signaled the start of professionalizing the real estate practice. Previous to the
approval of RESA, the real estate practice was considered more as a trade, rather
than a profession, being under the supervision and administration of DTI under its
Bureau of Trade Regulation and Consumer Protection (BTRCP) as mandated by
M.O. No. 39.
RESA took effect on July 30, 2009, fifteen (15) days after its publication in a major
daily newspaper of general circulation in the Philippines. As a real estate practice
being elevated to a profession, its affairs is now handled by a Professional
Regulatory Board of Real Estate Service (PRB RES) or referred under the law as the
Board. The Board is composed of long-time and experienced practitioners in real
estate who are appointed by the President of the Philippines based on various
qualifications and professional expertise. The Board is under the direct supervision
and administrative control of the Professional Regulation Commission which is
referred to as the Commission.

Thousands of real estate agents work for their clients to buy and sell homes and
commercial properties. However, some estate agents stand out from the others by
excelling at their professions, finishing every transaction flawlessly, and truly
benefiting their clients. These agents will be the topic
The best real estate brokers are rarely afraid to express themselves. They like to
promote a property by emphasizing its greatest features. They are not aggressive,
but they are passionate about their profession and work hard to put their clients'
needs ahead of their own.
They work equally well with sellers and buyers. Since most successful real estate
agents have a proven track record and dozens of happy clients, they do not
hesitate to provide testimonials of their past work.
There are many traits and characteristics you need to become a successful estate
broker in today’s competitive market.
1. LOCAL KNOWLEDGE – READ THE SLIDE
Having local knowledge offers you an advantage when it comes to knowing
the laws and ordinances that apply in various neighborhoods and towns as
well as the potential worth of a property. Additionally, You should also
research other locations that present good real estate opportunities for your
clients.

It's crucial to have a thorough awareness of localities and property values in

all pertinent places over time. If you are new to a town, spend some time
 getting to know it before you start working as a real estate agent since it
takes time to become well-versed in the area, but it will help you have a
successful career.
2. Communication Skills READ THE SLIDE
Good communication skills help an agent to discuss all matters before a
contract is drafted. Once all details are discussed, an agent should be able to
negotiate all aspects of a deal so that both parties benefit. A good agent then
knows how to convince both parties to close a successful deal.
3. INTEGRITY – Read the slide
Being dishonest, unethical and immoral can tarnish a career fast, and for
good. Nobody likes to work with an agent who has a dubious reputation. Both
sellers and buyers are looking for the best returns on their deals and are likely
to ask for referrals before they decide to hire an broker. Reputation matters
and so you should have a good client-base who can provide glowing testimonies
of recent successful deals.

4. ETHICS – READ THE SLIDE

this is why a good real estate broker never gives up and puts all their effort
into buying and selling properties. Since buying or selling a house or other
property is an important decision, people will not want to hire a broker who
is sloppy, nor one who does not take their job seriously.
5. FAMILIAR WITH RULE AND REGULATIONS – Read the Slide
The agent guides clients through all the necessary paperwork and legal
technicalities related to a sale. Since most homeowners are unaware of real
estate laws when they buy or sell a house, they depend on a real estate
agent to guide them through this complicated process.
6. PERSISTENCE – READ THE SLIDE
Following up leads may require automation or a system that keeps
track of beneficial leads. Throw away your notebooks and post-it notes and
embrace new technology! These days, you can keep tabs on all relevant
details with the help of apps installed on a smart phone.
Successful real estate brokers do not wait for clients to call them.
They keep a check on all appointments, meetings and showings themselves.
They are also flexible and will adjust their schedule if the client requests.
7. PASSION – Read the slide
You must have a passion to serve people by showing them the best
properties within their budget. Estate agency also requires a respect for
diversity so that people from all cultures and neighborhoods are
accommodated, satisfied and happy.
 You will never see a successful estate broker who is haggard,
frustrated or bored with their job.
Good brokers are enthusiastic about what they do, are presentable, and take
care of their appearance. They are in this business to help their clients
accomplish beneficial property investments, as well as build their own
successful real estate career.
These are just a few of the qualities and skills that a successful real
estate agent must possess if they want to survive in the industry.
A good broker keeps themselves up-to-date with all changes that are
happening in the rules and regulations pertaining to real estate. Anyone who
is persistent, passionate and aware of the dynamics of the real estate in
their local community can become a real estate broker
A competent estate agent broker stays up to date on pertinent
technology advances, such as online resources, websites, forums, and
applications, which may help them serve their clients better. Mental
alertness, good communication and the willingness to adopt new
technologies combine to make a successful real estate broker..