RESA Law or Republic Act (RA) No. 9646 is very alarming to the entire Real Estate Service practitioners especially the High school Graduates who works professionally as a real estate service salesperson.
Some of my colleagues are so confused and scared of the law. Let us faced the truth that lots of undergraduate practitioners may lose their job because of this law.
Sad to say that the RESA Law is still not publish on different media networks, I am hoping that it will be discuss thoroughly because there are lots of practitioner who is in the service for so many years that for sure will be affected by the law.
PENAL AND FINAL PROVISIONS
SEC. 39. Penal Provisions, – Any violation of this Act, including violations of implementing rules and regulations, shall be meted the penalty of a fine of not less than One hundred thousand pesos (P100,000.00) or imprisonment of not less than two (2) years, or both such fine and imprisonment upon the discretion of the court. In case the violation is committed by an unlicensed real estate service practitioner, the penalty shall be double the aforesaid fine and imprisonment.
In case the violation is committed, by a partnership, corporation, association or any other juridical person, the partner, president, director or manager who has committed or consented to or knowingly tolerated such violation shall be held directly liable and responsible for the acts as principal or as a co-principal with the other participants, if any.
Who will want to be in jail for two years and pay for P100,000.00 penalties? Sounds scary, but written on the law, I have a colleague who is in service for 25 years and works professionally even she is only a high school graduate, but now she is scared and confused, she said real estate service is the only job that she knows for her to be able to support the needs of her children… the needs of her family.
Not all Real Estate service practitioners have great stories to tell, but there lots of real estate high school graduate service practitioner who works hard and acts professionally for their family living. What will happen to them now? We are not talking for hundreds of practitioners; but let us look for thousands of high school graduates service practitioners in real estate that will surely be affected by this law. RESA Law will surely increase the number of unemployed Filipino people.
We hope that the high school graduate service practitioners will have a chance to become a licensed service practitioner by the Philippine Regulatory Commission before July 2011. Let us not focused only on brokers, let us open our eyes to the people who work hard and works professionally in the field for their family living.