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  • Writer's pictureZiggurat Realestatecorp

Delay in release of licenses may lead to rise in ‘colorum’ sales agents

Industry groups are seeking the faster release of licenses for aspiring real estate salespersons to increase efficiency in the sector.


Accredited Real Estate Salespersons (ACRES) National President Chris Malazarte said in a statement that there is a need for faster release of licenses to avoid so-called “colorum” sales agents.


“There must be a way to make the experience more encouraging for aspiring registered salespersons. This will lessen the evil we’ve been wanting to avoid — ‘colorum’ sales agents,” Mr. Malazarte said.


The licenses of real estate salespersons take three to four months, with some instances reaching as long as eight months.


The oath-taking of real estate salespersons has been limited to 100 individuals weekly despite being done online.


“Delaying such would result in the rise of ‘colorum’ or unlicensed salespersons. Selling can’t wait. If somebody wants to buy from you, you can’t ask them to wait for your license,” he said.


“We just want things to be efficient because we are promoting nation-building. We are talking about thousands of salespersons wanting to help the real estate industry flourish. And more importantly, if we are delaying the process, it will create more ‘colorum’ practitioners,” he added.


Before being allowed to sell real estate properties, salespersons need to secure licenses from the Department of Human Settlements and Urban Development (DHSUD) and the Professional Regulatory Commission.


According to the ACRES, about 80% of sales are closed by a real estate salesperson.


Meanwhile, Mr. Malazarte said the registration experience of salespersons under current government policies have not been “simplistic.”


“The policies provided for by Republic Act 9646 or the Real Estate Service Act and Housing and Land Use Regulatory Board (HLURB) Board Resolution 922-14 are simple, but the experiences of the salespersons during registration are not simplistic,” Mr. Malazarte said.


“We understand that there is a need for the DHSUD to regulate the real estate practice, and our organization appreciates the efforts of the department to improve its policies by making it more responsive to the climate of the industry today,” he added.

Source: Business World


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