How to Verify if You are Dealing with a Licensed Real Estate Broker

Buying a real estate property is a long time commitment.  Most often than not, you get a considerable amount from your lifetime savings or from your hard-earned money to purchase the property.

It is a must to conduct due diligence to the real estate broker that you are dealing with before you entrust your time and energy in securing the property that you want to buy.  Aside from real estate brokers, due diligence must also be applied to other real estate practitioners (RESPs) such as real estate assessor, real estate salesperson, real estate appraisers, and real estate consultant.

Under Republic Act (R.A.) No. 9646 or the Real Estate Service Act (RESA) Law, only licensed RESPs may render real estate services.

Before you verify the RESPs, make sure that you have his/her calling card, the real estate property flyer being sold, or the email signature that he/she is using bears the following:

• Complete Name
• PRC License Number and Validity Date
• PTR Number and Validity Date and Date and Place of Issuance

Above details are required for every RESP to reflect in all documents they are signing including brochures, flyers, TV Ads, SNS advertisements, Letterhead, calling cards, and the like pursuant to Section 38, Article IV, of RA # 9646.

So, let’s create a scenario.  You have all the information above so let’s verify if the real estate broker you are dealing with is licensed or not.

Here are 3 Ways to Do It

1. Log on to https://online.prc.gov.ph.

2. There are three ways to verify – verification through rating, name, and license number.

3. VERIFICATION OF RATING. It is hard to know the exam rating of a real estate broker so you may want to skip this.

4.  Click VERIFICATION OF LICENSE (BY NAME).

• Indicate the profession in the Profession Tab.

• This is a drop down menu so just choose accordingly. In our example, we choose Real Estate Broker.

• Type the First Name and Last Name as reflected in the calling card, brochure, flyer, email signature etc. Click Enter.

• If there is a match, a pop up window will appear and the name of the broker will appear in the VERIFIED PRC PROFESSIONALS tab.

• If there is no match, a message – Information No results found will appear in the top right portion of the website.

5. Click VERIFICATION OF LICENSE (BY LICENSE NUMBER).

• Indicate Profession, License Number, and Birthdate of the broker.

• Indicate Real Estate Broker in the Profession Tab.

• If there is a match, a pop up window will appear with the following information of the broker:
  • Full Name
  • Profession
  • Initial Registration Date
  • License Expiration
  • Status: Valid

• Make sure that the status is Valid and NOT Expired or Suspended.
• If there is no match, a message – Information No results found will appear in the top right portion of the website.

Those are the ways to verify if you are dealing with a license broker or not.

Verifying your real estate broker or other real state service practitioners requires additional time and effort from your end but doing so will save you from wasting your energy and money if you deal with unlicensed practitioners.

Do you have any experience dealing with an unlicensed real estate broker? Share your experiences below.

#realestateblogph | #realestate | #REBPH | #verifylicense | #LicensedRealEstateBroker

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