FIFTEENTH CONGRESS OF THE 
REPUBUC OF THE PHIUPPINES 
First Regular Session 
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) 
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SENATE 
S: NO. 2626 
'10 
DEC 14 P2 :40 
Introduced by Senator Antonio "Sonny" F. Trillanes IV 
Explanatory Note 
The widespread construction and development of real estate sites near and around Metro Manila 
suggests a healthy and bright future for the Philippines' real estate industry. In fact in a report 
published last June 20101, the real estate. industry grew by 10% from January to the second week 
of February this year compared to the same period last year. With the growth in private property 
ownership in the country, real estate has become a major area of business which as a result, 
contributes a significant impact to growth in the economy. The expansion of the Philippine real 
estate would mean more income to the government and thus more funds for the provision of 
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basic services. 
Furthermore, the enactment of RA 9646 otherwise known as the Real Estate Service Act of the 
Philippines further contributes in keeI?ing the momentum gained by the real estate industry. 
RA9646 intends to effectively develop and nurture a corps of highly respected, technically 
competent, and disciplined real estate service practitioners in the country. 
By giving more persons access to employment opportunities, and to further contribute to the 
growth of the Philippine real estate industry, this Act aims to provide a fertile ground for 
employment generation to more qualified persons thereby easing the rise in unemployment. 
It is in this light that we seek to amend certain provisions of the foresaid law in order to provide 
more employment opportunities in the real estate business. 
In view of the foregoing, the immediate passage of this bill is earnestly sought. 
Senator 
1 http://www.cbre.com.ph/news:center.aspx?ld=15 (Accessed on 08 Dec. 2010) 
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FIFTEENTH CONGRESS OF THE' 
REPUBLIC OF THE PHILIPPINES 
First Regular Session 
) 
) 
) 
SENATE 
S.NO. 2626 
,~l1mlti' 
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'10 
DEC 14 P2 :40 
Introduced by Senator Antonio "Sonny" F. Trillanes IV 
AN 
ACT PROMOTING EMPLOYMENT OPPURTUNITIES IN REAL ESTATE SERVICE 
IN THE PlIIILIPPINES, AMENDING FOR THE PURPOSE CERTAIN PROVISIONS OF 
REPUBLIC ACT NO. 
9646, OTHERWISE KNOWN 
AS THE REAL ESTATE 
SERVICE ACT OF THE PHILIPPINES 
Be it enacted by the Senate and House of Representatives of the Philippines in Congress 
assembled. 
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SECTION 1. Section 2 ofRepu~lic Act No. 9646 is hereby amended to read as follows: 
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"Section 2. Declaration of Policy. - The State recognizes the vital 
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role of real estate service practitioners in the social political, economic 
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development and progress of the country by promoting the real estate 
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market, stimulating economic activity, PROMOTING EMPLOYMENT 
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OPPURTUNITIES IN. THE SECTOR and enhancing government 
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income from real property-based transactions. Hence, it shall develop and 
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nurture through proper and effective regulation and supervision a corps of 
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technically competent, responsible and respected professional real estate 
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service practitioners whose standards of practice and service shall be 
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globally competitive and will promote the growth of the real estate 
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industry. 
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SEC 2. Section 31 of the same law is hereby amended to read as follows: 
"Section 31. Supervision of Real Estate Salespersons. - For real 
estate salespersons, no examinations shall be given, but they shall be 
accredited by the Board: Provided, That they have completed 
RELEVANT EDUCATION [at least two (2) years of college] and have 
undergone training and seminars in real estate brokerage, as may be 
required by the Board. Real estate salespersons shall be under the direct 
supervision and accountability of a real estate broker. As such, they 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, as prescribed by the Board. A real estate broker shall be 
guilty of violating this Act for employing or utilizing the services of a real 
estate salesperson when he/she has not secured the required. 
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SEC. 3. Section 32 of~ 9646 is amended to read as follows: 
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"Section 32. Corporate Practice of the Real Estate Service.-
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(a) No partnership or corporation shall engage in the business of real estate 
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service unless it is duly registered with the Securities and Exchange Commission 
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(SEC), and the persons authorized to Act for the partnership or corporation are all 
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duly registered and licensed real estate brokers, appraisers or consultants, as the 
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case may be. The partnership or corporation shall regularly submit a list of its real 
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estate service practitioners to the Commision and to the SEC as part of its annual 
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reportorial requirements. [There shall at least be one (1) licensed real estate 
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broker for every twenty (20) accredited salespersons.] 
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(b)Xxx 
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(c) Xxx 
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SEC. 4. All laws, decrees, executive orders, department or memorandum orders and 
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other administrative issuances or parts therof which are inconsistent with the provisions of this 
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Act are hereby modified superseded or repealed accordingly. 
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SEC. 5. This Act shall take effect fifteen (15) days following its publication in the 
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Official Gazette or in a major daily newspaper of general circualtion in the Philippines. 
Approved, 
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