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News Top Stories Group warns against brokers without licenses
News Top Stories Group warns against brokers without licenses
| Group warns against brokers without licenses |
| Wednesday, 27 August 2008 00:00 | ||||||
|
“This is important,” said Pareb-Cereb first vice president and realtor Emily Amie Cabillada. “In cases of violations, clients can easily complain to DTI. If there is really a violation, the DTI can exercise its police power and impose penalties or even revoke the licenses of these brokers.” She said Pareb-Cereb continues to urge developers to get only licensed brokers and salesmen to entertain potential buyers at their exhibits. “Licensed agents know the law because they are required to attend seminars so they know what they are saying to their clients. They can also complain against consumers. Unlicensed ones may not have been updated with the latest news and regulations in the real estate industry,” she said. DTI issued an administrative order last year prescribing new requirements for the licensing of real estate brokers, real estate appraisers and real estate consultants. To update their knowledge, address the presence of unlicensed real estate agents and ensure compliance to the Real Estate Practice on Ethics and Standards, the DTI is urging property brokers to participate in the Comprehensive Real Estate Seminar (CRES) and become members of legitimate groups. Pareb-Cereb recently conducted its 37th CRES to prepare applicants for the Broker’s Licensure Exam on Oct. 5. Despite the accreditation system, Pareb-Cereb lamented the existence of many unlicensed real estate brokers in Cebu and across the country. “But we are not adver-sarial. They are still partners but they just have to join us in the legal way. We each have an identification card issued by the DTI,” she said. The identification card issued by DTI to real estate brokers have to be renewed every three years. Cabillada said, though, that Pareb-Cereb realized an increase in the number of members, which indicates a boom in the real estate industry in the province. (NRC)
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