Real Estate Service Act IRR out Soon

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The first Professional Regulatory Board of Real Estate Service (PRBRES), created under Republic Act No. 9646, otherwise known as Real Estate Service Act (RESA), is now finalizing the law's implementing rules and regulations (IRR) after completing extensive consultations with stakeholders in Manila and in the regions....Upon approval of the Professional Regulation Commission (PRC), the IRR will trigger the full implementation of RESA to professionalize and regulate the real estate service practice, covering real estate consultants, appraisers, local government assessors, and brokers, as envisioned in the law.

The PRBRES, under the administrative supervision of the PRC, serves …