Why do you need a licensed real estate broker?

A registered real estate broker is a professional and has a name and license to protect.

He/she is armed with legal requirements such as: passing the government examination for brokers, NBI clearance, surety bond, and secures necessary certificates.  He/she also undergoes Continuing Professional Education, and is properly guided by Code of Ethics, as required by the Professional Regulation Commission (PRC).

Real estate brokers together with the help of sales agents/salespersons assist clients buy, sell, and rent properties.  It is a common perception that brokers and agents almost do the same type of work, but brokers are licensed to manage their own real estate businesses and has the necessary training, education, and experience. 

It is also the licensed real estate broker who has direct supervision and accountability over his/her duly accredited sales agent/salesperson.  Under the law, the salespersons cannot by themselves be signatories to a written agreement involving a real estate transaction unless the real estate broker who has direct supervision and accountability over them is also a signatory thereto.  No real estate salesperson, either directly or indirectly, can negotiate, mediate or transact any real estate transaction for and in behalf of a real estate broker without first securing an authorized accreditation as real estate salesperson for the real estate broker... (Source: IRR of Republic Act 9646)

There are so many incidents that buyers get deceived, misled, or swindled by unlicensed and fraudster real estate salespeople.  To protect yourself and your hard-earned savings, make sure that the person you are dealing with is licensed and registered with the PRC.