Multíverse Realty 2.56

Real Estate Brokerage

― The act, practice or calling whereby a natural or juridical person, on behalf of another and for a compensation or any valuable consideration, performs any or all of the following acts: sells, buys, leases, mortgages and exchanges real estate or interests therein.


“Real Estate Service Practitioners” shall refer to and consist of the following:

(1) Real Estate Consultant [ REC ]– a duly registered and licensed natural person who, for a professional fee, compensation or other valuable consideration, offers or renders professional advice and judgment on: (i) the acquisition, enhancement, preservation, utilization or disposition of lands or improvements thereon; and (ii) the conception, planning, management and development of real estate projects.

(2) Real Estate Appraiser [ REA ] – a duly registered and licensed natural person who, for a professional fee, compensation or other valuable consideration, performs or renders, or offers to perform services in estimating and arriving at an opinion of or acts as an expert on real estate values, such services of which shall be finally rendered by the preparation of the report in acceptable written form.

(3) Real Estate Assessor [ REAs ] — a duly registered and licensed natural person who works in a local government unit and performs appraisal and assessment of real properties, including plants, equipment, and machineries, essentially for taxation purposes.

➨ (4) Real Estate Broker [ REB ] - a duly registered and licensed natural person who, for a professional fee, commission or other valuable consideration, acts as an agent of a party in a real estate transaction to offer, advertise, solicit, list, promote, mediate, negotiate or effect the meeting of the minds on the sale, purchase, exchange, mortgage, lease or joint venture, or other similar transactions on real estate or any interest therein.

(5) Real Estate Salesperson [ RES ] - a duly accredited natural person who performs service for, and in behalf of a Real Estate Broker who is registered and
licensed by the Professional Regulatory Board of Real Estate Service for or in expectation of a share in the commission, professional fee, compensation or other valuable consideration.

- Sec. 3(g), Art. I of R.A. 9646 [ RESA Law ]

REB #7150