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Author Topic: Bogus transactions related to real estate property and housing projects  (Read 353 times)


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Department of Human Settlements and Urban Development (DHSUD) Sec. Eduardo del Rosario on Monday appealed to real estate brokers to join the government’s fight against bogus transactions related to real estate property and other housing projects.
Del Rosario made the call during the launch of the Real Estate Brokers Association of the Philippines Inc. (REBAP) 42nd annual national convention.

“I take this opportunity to ask REBAP’s active participation in our campaign to protect not only the general public but also your organization and members and the legitimate developers,” he said.

Del Rosario cited REBAP’s significant role as “mediators” within the real estate transactions.

He said REBAP members have prime positions as legitimate developers, brokers, and salespersons that ensure legal transaction with the general public.
“The proliferation of real estate scammers who prey on innocent homebuyers deprive you – the legitimate salespersons, of your hard-earned and professional livelihood,” del Rosario told REBAP members.

Del Rosario said government has intensified its campaign against real estate scammers, including unscrupulous developers, brokers, and agents engaged in the illegal selling of real estate properties.

He said the government vowed to stop illegal transactions in the housing and human settlement projects.
The DHSUD has strengthened its collaboration with the Department of Justice (DOJ) and the Department of the Interior and Local Government (DILG) and partner-developers to eliminate these illegal activities, del Rosario added.

Del Rosario said REBAP could be the housing department’s ally in protecting Filipino families from falling into deceptions of these scammers, illegal brokers, and bogus real estate agents.

Meanwhile, del Rosario lauded the organization’s role in setting a high-level of standard among real estate professionals in the country.

Del Rosario considered REBAP as the DHSUD’s highly valued partner in promoting sustainable human settlements and urban development nationwide.

“Together, with your cooperation and the support of other relevant government agencies, we can envision a prosperous and vibrant housing industry,” del Rosario said. “Together, let us join hands in attaining President Rodrigo Roa Duterte’s goal of providing each Filipino family with a decent, affordable, and resilient home they can probably call their own.”
Based on the Housing and Land use Regulatory Board (HLURB) under Presidential Decree 957, no real estate broker or salesman shall engage in the business of selling subdivision lots or condominium units without being registered.

DHSUD has regulatory power over real estate developers and brokers and salespersons are obliged to register with the DHSUD before engaging in property selling.

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