RESA law boosts government’s housing program
The housing program of the government is now bolstered with the enactment of Republic Act 9646 otherwise known as “The Real Estate Service Act of the Philippines” (RESA).
This was highlighted by realtor Florendo Besana in his speech during the Western Visayas Housing Fair that opened October 26 here.
President Gloria Macapagal-Arroyo signed the new law last June 29, 2009.
Besana said the new law bodes well for higher achievement of housing delivery with a more effective participation of the private sectors.
The new real estate service law removes realty service practitioners from the supervision of the Bureau of Trade Regulations and Consumers Protection of the Department of Trade and Industry and placed them under the Professional Regulations Commission.
“With the new law, it is redundant to say that you expect better performance from realty service practitioners. Rather, you should expect professional, transparent and accountable services from realty service practitioners. This is not an option, but a matter of duty,” said Besana.
According to Besana, realty service practitioners include real estate consultant, appraiser, broker, salesman and assessor which is a new category.
Besana added that the professionalization of realty service practice will make the practitioners a more capable partner with the Iloilo City government as well as with the shelter agencies.
“Their collaborative endeavors will produce results that will streamline the delivery of housing that will significantly reduce the current backlog,” said Besana.
The Western Visayas Housing Fair is being held at the Robinson’s Place Iloilo City until October 30. This year, it is participated in by around 16 private developers, key shelter agencies and government financial institutions.
The fair is an opportunity for home buyers to choose from the housing projects of private developers and acquired assets of government financing institutions in one setting. (PIA)
