RESA: Good or Bad for real estate salespersons? Developers?

RESA: Good or Bad for real estate salespersons? Developers?

Laws governing men should always be looked at in a positive way. RESA should be no different.

Upon its full implementation, Philippine real estate industry will never be the same again. Gone are the days when you will hear of horror stories of ordinary salaried couples being duped by unscrupulous real estate agents. This is because only licensed and industry-educated salespersons and brokers are permitted to transact sales and transfers of real estate properties. RESA will be beneficial not only for the buyers, but also for the sellers and developers as well. For the sellers,  this is beneficial because this is the moment that most of us are waiting, to be regarded as professionals and not be tagged as just another “agent”. Licensing the practitioners would in effect make everybody highly motivated. And as we know, highly motivated individuals perform better.

Upping the ante of the qualifications of real estate practitioners would help eliminate errors, misrepresentations and malpractices that are rampant before RESA. Some sectors within the industry are saying that those who do not qualify because of lack of education are discriminated, which, in my personal opinion, should not be deemed it to be. Putting a standard in practice with the intention of professionalizing an industry beset with problems in malpractice and misrepresentation should only merit such a higher form of standard. RESA answers the call of the times to have its practitioners knowledgeable in its field.

Developers should look at RESA not as a hindrance, as some are hinting, but as a partner to help their companies to achieve better sales and service to their target markets. Developers should be thankful and happy that RESA would provide them a more professional approach in selling and marketing their projects. With RESA, developers are assured that their sales force are professionals and equipped to handle real estate transactions. This would also in effect help them in their after sales service since the practitioners are more knowledgeable and have met a higher standard to be able to perform real estate transactions.