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Real Estate History in the Philippines

The real estate service practice started as a simple agency in the purchase, sale, and lease exchange of the real
estate properties. These agents or middlemen were called real estate brokers. These real estate brokers were born
out of necessity or exigency because owners or prospective buyers or lessees of real estate properties may not be
familiar with the conditions of the market or trade or may not have the material time to look for buyers, sellers or
lessees. Under such situation, owners or prospective buyers or lessees tend to seek the assistance of intermediaries
depending upon their needs.

With increasing demand of the services of middlemen or agents, more people began to act as go between among
buyers, sellers, and lessees and other interested parties. Thus the real estate brokerage business or practice came
into being.

Based on the Manual on the Philippine Real Estate Fundamentals and Practices by Mr. Antonio Varias , founder and
first President of the Philippine Association of Real Estate Boards, Inc. (PAREB), the first tangible organized
brokerage activities started after the World War 1 when some American and other foreigners were attracted to make
some investment in the Philippines including real estate. It appears that the pioneer in the real estate brokerage in the
Philippines was Mr. Colin M. Hoskins. After serving in the U.S. Army in the World War 1, he decided to stay in the
Philippines, joined government service and later engaged in business. Sometime in 1920, he started to engage in
real estate and became his whole/full time job. His obsession was raise the standard of practice in the real estate
brokerage business. At that time, there was no law or government agency that regulated the operations of the real
estate brokers.

When the Bureau of Commerce was created under Act No. 2728 in 1918, on of its powers and duties was to license
and regulate exchange agents, merchandise and ship brokers and interpreters but did not include real estate brokers.
It was only on December 2, 1932 that Act No. 3969 was enacted by the Philippine Legislature to modify Sec. 3(e) of
Act No. 2728 to include real estate brokers to be licensed and regulated by the Bureau of Commerce.

On November 7, 1938, Mr. Hoskins invited a group of real estate brokers and organized the Manila Real Estate
Brokers Association. Later, other brokers in the provinces also organized their group. Through the representation of
these organizations, Commerce Administrative Order No. 3-6 was promulgated on July 29 1939 by the Bureau of
Commerce to implement the provisions of Act No. 3969.

After World War 2, there was a proliferation of many agents or intermediaries acting as real estate brokers without
any license from the Bureau of Commerce. With the devastation of Manila and other urban centers, many
unscrupulous unlicensed brokers victimized many innocent buyers of real estate by selling non-existing real estate
properties including Luneta, Manila Bay, Sta Cruz Bridge, etc. To arrest this problem, the members of existing
brokers association led by Mr. Antonio Varias, then the President of the Manila Real Estate Brokers Association
organized by the Philippine Association of Real Estate Brokers, Inc. (PAREB) in 1960. Mr. Varias was elected as the
first President. This association, thru Mr. Varias, made representations to the Department of Commerce and Industry
to repeal Commerce Administrative Order No. 3-6 and promulgate a new Administrative Order. Thus, Commerce
Administrative Order No. -60, series of 1960 was promulgated by the department . Under this Administrative Order, it
provided a more efficient mechanism in the licensing of real estate salesman, brokers and appraisers and raises it to
the a profession from a mere business.

Fifteen year later, in 1975, it was felt that there is a need to update the rules and regulations. Hence, the Department
Administrative Order No. 1-75, Series of 1975 was again promulgated, and finally in 1985 or ten years later, Ministry
Order (MO) No. 39, Series of 1985, was issued to replace Department Administrative Order No. 1-75.

The passage of MO No. 39 started the professionalization of the realty service practice. Periodically, the MO No. 39
is being amended to make it relevant to new developments in the real estate field. There are various real estate
associations tasked with the responsibility of policing their own ranks as well as in charting their specific functions,
activities and responsibilities in contributing to the growth of the real estate industry.

In 1992, DTIs Department Administrative Order (DAO) No. 97 created the Realty Service Council of the Philippines
(RESCOP). It mandated the RESCOP as the consultative body of the DTI under the following actions:
(a) To provide advice and/or recommendation to the DTI on all matters relating/affecting the real estate industry either
on its own initiative or at the request of teh DTI, or any of its bureaus and agencies or other government agencies.

(b) To initiate studies, policies, programs, projects and activities that shall lead to the further development of
promotion of the realty business which may be implemented by the Council itself and/or DTI.

(c) To recommend the accreditation of seminars for realty service practice.

(d) To perform other related activities that will complement or supplement those being undertaken by the government
agencies relevant to and falling under the realm of the real estate industry.

The council is composed of the following realty service organization and government sector:

Institute of Philippine Real Estate Consultants, Inc. (IPREC)


Institute of Philippine Real Estate Appraisers, Inc. (IPREA)
Philippine Association of Realtors Boards, Inc. (PAREB)
Real Estate Brokers Association of the Philippines (REBAP)
N.A.R. Philippines, Inc.
Philippine Council of Real Estate Educators, Inc. (PHILCORE)
Philippine Association of Real Estate Appraisers, Inc. (PARA)
Philippine Association of Realty Consultants & Specialist, Inc. (PARCS)
Subdivision and Housing Developers Association, Inc. (SHDA)
National Real Estate Association, Inc. (NREA)

In July 2009, the Department of Trade and Industry (DTI) has finally relinquished all its real estate functions to the
Professional Regulations Commission (PRC) by virtue of R.A. No. 9646 known as the Real Estate Service Act of the
Philippines.

Based on the Manual on the Philippine Real Estate Fundamentals and Practices by Mr. Antonio
Varias, founder and first President of the Philippine Association of Real Estate Boards, Inc.
(PAREB), the first tangible organized brokerage activities started after the World War 1 when
some American and other foreigners were attracted to make some investment in the Philippines
including real estate.
To arrest this problem, the members of existing brokers association led by Mr. Antonio Varias,
then the President of the Manila Real Estate Brokers Association organized by the Philippine
Association of Real Estate Brokers, Inc. (PAREB) in 1960. Mr. Varias was elected as the first
President. This association, thru Mr. Varias, made representations to the Department of
Commerce and Industry to repeal Commerce Administrative Order No. 3-6 and promulgate a
new Administrative Order.

Such authority was conferred to PAREB pursuant to an agreement signed on November 2,


1960 at the Ceremonial Hall of Malacaang Palace by then NAREB President C. Armel Nutter
and then PAREB President Antonio Varias and witnessed by then Philippine President, Carlos
P. Garcia and the US Ambassador, John D. Hickerson.
However, Antonio Varias, who succeeded Calero as President of Manila Board of REALTORS
in 1953, felt that the conversion of the Manila Board of REALTORS into a national
organization with Davao, the only one other realty board existing at the time, would not reflect a
national association.
To make the Association truly national in scope, REALTOR Antonio Varias spearheaded a
committee in 1955 which was charged with the task of organizing REALTORS Boards in other
parts of the country.

What is a REALTOR?
Who are authorized to use the term and logo REALTOR?

A: In the Philippines, the right to use the term REALTOR pertains only to licensed
real estate brokers who are regular members of a realty board duly affiliated with
the Philippine Association of REALTORS Boards, Inc. (PAREB).

REALTOR is a service mark registered in the Commission of Patents of the


United States of America as Document No. 515199 and in the Philippine Patent
Office as Document No. 5385, as property of the National Association of
REALTORS or NAR, is a requisite for entitlement to use the patented
designation.

Such authority was conferred to PAREB pursuant to an agreement signed on


November 2, 1960 at the Ceremonial Hall of Malacaang Palace by then NAREB
President C. Armel Nutter and then PAREB President Antonio Varias and
witnessed by then Philippine President, Carlos P. Garcia and the US Ambassador,
John D. Hickerson.

The NAREB-PAREB Agreement provides that "the emblem seal and the term
REALTOR should be used and employed exclusively within the Philippines by
PAREB xxx." and that PAREB shall, among others, "permit said term to be used
by the Association and members thereof who subscribe to the Code of Ethics xxx."

It is also a requisite that applications for REALTOR membership should be


circularized to all PAREB constituent boards as such application may only be
acted upon forty-five days (45) following circularization to allow evaluation of
reports and information bearing on the qualification or disqualification of the
applicants, particularly those relating to unethical or other inimical acts and
practices which tend to bring disrepute to the title REALTOR should it be
conferred on the applicants.

Unauthorized use of REALTOR is an infringement of and is punishable under


Republic Act No. 166. It also constitutes a ground for revocation of a real estate
broker's license pursuant to the Department of Trade (DTI) Administrative Order
75-1.

The realtor's handbook


REAL ESTATE SALES, 1955 Quezon Pasay Suburban Manila City City Towns Total
January.... P 2,248,421 P2,152,738 1l175,472 P2,082,216 P6,658,847 REAL ESTATE
MORTGAGES. 1955 January..... P 2,639,978 P1,626,001 P358,600 P2,882,024
P7,506,603

A few of the bigger sales registered during the month were: CITY OF MANILA Ermita
Taft Ave., between California and Oregon Sts. A parcel of 700.4 sq.m. sold by
Conchita Juachen to Carmen B. de Cruz for P70,000. Intram uros Gral. Luna cor.
Muralla Sts. A parcel of 2,434 sq.m. sold by Shurdut Investments Corp. to the
Philippine American Life Insurance Co. for P96,075. Paco Isaac Peral cor. San
Marcelino Sts. A tract of 4,137 sq.m. sold by Maria de la Concepcion Rosales to the
U. S. Automotive Co. for P275,000. San Miguel Legarda St. A property with a lot of
1,460 sq.m. sold by National Printing Co., Inc. to Eugenio C. Lopez for P125,000.
PASAY CITY Park Ave. A property with a lot of 2,182 sq.m. sold by Pablo Cuneta to
Santiago Abraham for P135,000. QUEZON CITY Cubao Several parcels comprising of
50 lots sold by Ramona G. Vda. de Favis to Xavierville Estate, Inc. for P450,000. New
Manila 10th & 11th St. A parcel of 2,996 sq.m. sold by Magdalena Estate, Inc. to
Felipe Ysmael for P118,898. Piedad Estate A tract of 23,846 sq.m. sold by Dorotea de
la Cruz to Alejandro de Jesus for P73,922. San Francisco Del Monte A tract of 3,291
sq.m. sold by Sofia Zarsadias to Edward T. C. Tan for P25,000. Sta. Mesa Heights Baco
St. A property with a lot of 240 sq. m. sold by Dioscoro San Juan to Cecilio Ocampo
for P26,000. SUBURBAN TOWNS Caloocan A. Mabini St. A property with a lot of
20,179 sq.m. sold by La Insular Fabrica de Tabacos to Zerimar Investments for
P250,000. Malabon Tugatog. A tract of 134 parcels, having a total area of 234,140
sq.m. together with all the improvements thereon, sold by Ceramics Industries of the
Philippines to the Land and Industrial Development Co., Inc., for P575,000. Makati
Forbes Park. A tract of 4,527 sq.m. sold by San Lorenzo Co., Inc. to J. Antonio Araneta
for P67,905. REAL ESTATE mortgages registered in the Greater Manila area during
the month numbered 404, with a total value of P7,506,603, as compared with 470,
with a total value of P7,214,884, registered during the preceding month of
December. Of the January mortgages, 134, with a total value of P2,639,978,
represented deals within Manila proper, while 270, with a total value of P4,866,625,
represented deals in the cities of Quezon and Pasay, and in the suburban towns first
above mentioned.

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