The Real Estate Service Act (RESA Law), officially known as Republic Act No. 9646, was enacted in 2009 to professionalize and regulate the real estate service industry in the Philippines. This law ensures that only licensed and accredited real estate service practitioners—such as brokers, appraisers, and consultants—can legally operate in the country.
Under RESA Law, aspiring real estate professionals must:
- Hold a relevant degree in Real Estate Service,
- Pass the Professional Regulation Commission (PRC) licensure exam,
- Adhere to a code of ethics, and
- Engage in continuous professional education.
The law also penalizes unlicensed individuals engaging in real estate transactions, protecting buyers and sellers from fraud and misinformation.
In essence, the RESA Law promotes accountability, professionalism, and consumer protection—a critical step in improving the country’s real estate industry.