The PFRESPI is an association of natural or juridical persons engaged or involved in real estate service duly registered and/or licensed under Philippine law composed of brokers, appraisers, assessors, consultants, and salespersons. PFRESPI aims to unite duly licensed real estate service practitioners in the Philippines in order to provide a single voice for the sector.
In an interview during the organization’s ASEAN Real Estate Summit held in Cebu City, Dulalia said that the Republic Act 9646, or the Real Estate Service Act (RESA) requires the creation of an Accredited Integrated Professional Organization (AIPO) for individual real estate practitioners.
Currently, he noted that there is no existing AIPO for real estate practitioners, unlike other professions. “Right now, we are not unified,” he added.
According to Dulalia, the summit forms part of the organization’s efforts to unify all practitioners in the Philippines.
“We are doing this in the Visayas and Mindanao on a yearly basis. Part of our program is going to Northern and Southern Luzon every quarter,” he said, adding that they are urging real estate professionals to join PFRESPI.
To be accredited as an AIPO for real estate professionals, an organization is required to have a membership of 50 percent plus one of the total number of accredited practitioners. Dulalia said they organization only charges P100 as a membership fee without any annual dues.
The summit featured several speakers including Dr. Eduardo Ong, first chairman of the Professional Regulatory Board of Real Estate Service (PRBES); Jessie Doctolero, director of the Bureau of Local Government Finance Region 7; representatives of the local government units, and real estate professionals from Singapore, Thailand, and Cambodia.
Ong discussed the professionalization of real estate practice as required by the RESA law while Director Doctolero focused on the need to develop an efficient real property valuation system.
On the other hand, representatives from the local governments of the tri-cities of Cebu, Mandaue, and Lapu-Lapu discussed the investment opportunities in their respective areas.
Meanwhile, Jeff Foo, past president of the Institute of Estate Agents Singapore; Dr. Sopon Pornchockchai, president of Federation Internationale des Administrateurs de Bien-Conselis Immobiliers (FIABCI-Thailand); Oknha Chandy Mann, Premium Group chairman and FIABCI Cambodia president; and Edwin Calamba, president of Philippine Realty Consultants & Specialists (PARCS), discussed the topic “Enhancing Cooperation Amongst Real Estate Professionals on Best Practices towards Reciprocity.”
On the second day, Gelena Asis-Dimpas, Chief Tourism Operations Officer of the Department of Tourism Region 7, also talked about the tourism potential of Central Visayas.
The PFRESPI ASEAN Real Estate Summit 2023 gathered around 200 real estate practitioners, mostly from Manila.