NATIONAL CODE OF ETHICS FOR REAL ESTATE SERVICEPRACTICE

 Red, White, Blue and Yellow – represent the color of the Philippine FLag
 Blue – color of service
 Green – represents environment and ecology
 Sun and Rays – life and light
 Rising Sun – represents the vital role of the real estate service practitioners in the social,
political, economic development and progress of the Philippines.
 Gold – represents ethical standards and prosperity
Map of the Philippines – represents the Philippine archipelago

NATIONAL CODE OF ETHICS AND RESPONSIBILITIES FOR REAL ESTATE SERVICE PRACTICE
 promulgated by the Professional Regulatory Board of Real Estate Service
 the Code governs the duties and responsibilities of professionals to:
a. public
b. client,
c. government
d. fellow practitioners, and
e. associations

POLICY OF THE STATE

 TO STIMULATE ECONOMIC ACTIVITY
 ENHANCE GOVERNMENT INCOME
 TECHNICALLY COMPETENT, RESPONSIBLE AND RESPECTED REAL ESTATE SERVICE
PRACTITIONERS
 STANDARDS OF PRACTICE :
- GLOBALLY COMPETITIVE
- WILL PROMOTE GROWTH OF REAL ESTATE INDUSTRY

GENERAL PRINCIPLES
 PRINCIPLE OF SOLIDARITY - spirit of unity, harmony, camaraderie, cooperation and professional
relationship among the practitioners is essential
 THE GOLDEN RULE - “Do unto others as you would have them do unto you”


OLD VERSION OF GOLDEN RULE:
“TREAT OTHERS AS YOU LIKE THEM TO TREAT YOU”

RELATION TO THE GOVERNMENT

 PAY CORRECT TAXES, FEES, DUES, LEVIES OR CHARGES
- EVASION IS ILLEGAL
- AVOIDANCE IS LEGAL

RELATION TO THE GOVERNMENT

 SHOULD NOT OFFER OR AGREE TO PAY, TO SPLIT OR REBATE ANY COMMISSION, FEE, OR
VALUABLE CONSIDERATION WITH ANY PERSON WHO IS NOT A DULY LICENSED PRACTITIONER

RELATION TO THE GOVERNMENT

 IN SHORT:
 “DO NOT VIOLATE THE LAW”
LATIN MAXIM:
IGNORATIA LEGIS NON EXCUSAT
“IGNORANCE OF THE LAW EXCUSES NO ONE FROM COMPLIANCE THEREWITH”
 - social responsibility and conscience for the promotion of the common good.
 - protect the public against unlicensed and unauthorized real estate service practitioners.
 - full disclosure of pertinent and material facts on the subject property in advertisements (i.e.
brochures, flyers and press releases (whether in tri-media or electronic media/means).

A PRACTITIONER SHOULD HAVE COLDS …

 C- ONFIDENTIALITY
 O – BEDIENCE
 L-OYALTY
 D – ISCLOSURE
 S-OCIAL RESPONSIBILITY

RELATION TO THE CLIENTS

- protecting and promoting the interest of the client without sacrificing the legitimate interest of
the other party
- - shall not accept any professional fee or valuable consideration from any party of the real
estate transactions except from his/her client unless with the full knowledge and consent of all
the parties.
- - shall charge or collect standard professional fees which are fair and reasonable in accordance
with real estate industry practice in similar transactions but not lower than the agreed minimum
professional fee as recommended by the accredited and integrated professional organization
based on the existing standards of real estate service practice.
-
RELATION TO THE CLIENT/CUSTOMER
 FOR THE SAKE OF JUSTICE AND FAIRNESS, SHOULD ENDEAVOR TO BE WELL INFORMED OF
CURRENT LEGISLATION, POLICIES AND PROGRAMS OF THE GOVERNMENT
 A SALESPERSON MUST ACCEPT COMPENSATION ONLY FROM BROKER
 SHOULD NOT OVERPRICE, BUT MAY PUT ADDITIONAL PRICE IN ORDER TO MEET A NET
LISTING OR AS A MARKETING STRATEGY
 OWES UTMOST LOYALTY AND FIDELITY TO CLIENT

RELATION TO FELLOW PRACTITIONERS

 - shall not use any vital documents relative the professional conduct without written consent by
the other Practitioner.
 - may coordinate with other Fellow Practitioners and agree their respective reasonable
professional fees in accordance with the Tariff of Professional Fees prescribe by the Accredited
and Integrated Professional Organization (APO).
 - shall not use or solicit the services of the employee of another Practitioner without the written
consent by the latter.
 - shall not engage in slander, oral defamation, gossip, or criticize publicly a fellow practitioner
and/or competitor nor volunteer a negative and damaging opinions of a competitor and/or
fellow practitioner in any means (SMS, electronics mails or letters, etc of similar nature). And if
one’s opinion is essentially sought for common good, the Practitioner shall render it with
prudence, truth with professional integrity, courtesy and respect to a fellow practitioner
cautious in safeguarding the latter’s human rights and good reputation and credibility.
 - shall not seek unjust and unfair advantage over his/her fellow practitioners by organizing or
sowing discord, spreading and bad mouthing against other practitioners particularly officers and
members of their association or APO or even other associations.
 - shall willingly share, contribute, write and publish articles for the benefit of fellow practitioners
and for the good of the real estate industry by imparting knowledge, technical training,
experiences, studies or research without prejudice to classified or confidential information from
client.
 SHOULD NOT SOLICIT A LISTING THAT IS CURRENTLY LISTED EXCLUSIVELY WITH ANOTHER
BROKER UNLESS THE LISTING AGREEMENT HAS EXPIRED OR REVOKED BY THE OWNER AND THE
OWNER OFFERS TO LIST THE SAME TO THE NEW BROKER WITHOUT SOLICITING THE SAME
 WHEN ACCEPTING A LISTING FROM ANOTHER BROKER, THE AGENCY OF THE BROKER WHO
OFFERS THE LISTING SHOULD BE RESPECTED UNTIL IT HAS EXPIRED AND THE PROPERTY HAS
COME TO THE ATTENTION OF THE ACCEPTING BROKER. SUCH LISTING SHOULD NOT BE PASSED
TO A THIRD BROKER OR PUBLISHED IN A DAILY NEWSPAPER WITHOUT THE KNOWLEDGE AND
CONSENT OF THE LISTING BROKER

RELATION TO THE ACCREDITED AND INTEGRATED PROFESSIONAL ORGANIZATION (APO)

APO ARBITRATION
- Parties: Members
- Binding decision provided accepted by both parties
PRINCIPLE OF EXHAUSTION OF ADMINISTRATIVE REMEDIES AT THE APO LEVEL
In the event of failure to settle:
- PRBRES shall assume jurisdiction and hear it by observing the due process requirement of notice
and hearing.
-
- PRBRES may;
a. Issue, suspend, revoke or reinstate, after due notice and hearing, certificates of registration or
professional identification cards for the practice of real estate service;
b. Hear or investigate any violation of this RESA Law, its implementing rules and regulations, and
the Code of Ethics and Responsibilities for real estate service practitioners
and issue subpoena and subpoena duces tecum to secure the appearance of witnesses and the
production of documents in connection therewith;

REVOCATION OR SUSPENSION
 (a) Procurement of a certificate of registration and/or professional identification card, or
special/temporary permit by fraud or deceit;
 (b) Allowing an unqualified person to advertise or to practice the profession by using one's
certificate of registration or professional identification card, or special/temporary permit;
 (c ) Unprofessional or unethical conduct;
 (d) Malpractice or violation of any of the provisions of R.A. No. 9646, the IRR. and the Code of
Ethics and Responsibilities for real estate service practitioners; and
 (e) Engaging in the practice of the profession during the period of one's suspension.
 (c ) Unprofessional or unethical conduct;
 (d) Malpractice or violation of any of the provisions of R.A. No. 9646, the IRR. and the Code of
Ethics and Responsibilities for real estate service practitioners; and
 (e) Engaging in the practice of the profession during the period of one's suspension.
