Licensed Real Estate Salespersons Volunteer to Help DHSUD Against Scam Property Sellers

Licensed real estate salespersons have volunteered to help the government fight against scams in property selling in the country.

The Accredited Real Estate Salespersons of the Philippines (ACRES) has pledged to work closely with the Department of Human Settlements and Urban Development (DHSUD) in reporting individuals tagged as “colorum” real estate developers and unlicensed agents across the country.

During the August 16 summit entitled “Responsible Real Estate Marketing; For Sustainable Public Trust,” Atty. Carla M Colaljo of DHSUD urged licensed real estate salespersons present to join the cause of minimizing, if not eradicating the existence of real estate “scammers”, victimizing property buyers mostly Overseas Filipino Workers (OFWs).

In response, ACRES national president Chris Malazarte, pledged his group’s support especially since the economy is recovering alongside a booming real estate industry.

He said a rising real estate industry is attracting fraudulent real estate dealers.

“Even with the active stance of the government led by DSHUD to curb or eliminate the presence of colorum players, they can only do so much due to a lack of manpower,” Malazarte added.

The real estate sector in the country is governed by the DHSUD and, the Professional Regulations Commission.

More than a thousand members of ACRES will now report to DHSUD the activities of unlicensed agents and brokers, as well as colorum developers.

Dr. Eduard Ong, chairman of the Philippine Federation of Real Estate Service Professionals, estimated over 50,000 unlicensed real estate salespersons selling properties without a license in the country.

Anthony Leuterio, president of A Better Real Estate Philippines (ABREP), said most of the scams are targeted at OFWs whose majority of remittances are set aside to buy properties.

“If there is a demand, there might be people who will take advantage,” Leuterio added.

ACRES data likewise showed that the Philippines’ biggest buyers of real property are (OFWs) with a P700 billion market value a year.

With ACRES’ commitment to helping with policing the existence of colorum practitioners, Leuterio hopes that will “help professionalize the real estate industry in the country and raise awareness for buyers to only deal with licensed brokers and agents, as well legitimate developers.”

“ACRES is here to educate the public and encourage those with no license to take the PRC’s new entry-level training,” Leuterio added.