Manila, February 22, 2016 --- The Professional Regulation Commission and the Professional Regulatory Board of Real Estate Service denied the Petition for the Renewal of Accreditation of the Philippine Institute of Real Estate Service Practitioners (PhilRES), INC as the Accredited and Integrated Professional Organization with the issuance of Resolution No. 05, Series of 2016, dated January 21, 2016.

The said Resolution provides that PhilRES failed to amend and ratify the contested provisions of its Bylaws specifically on the election rules and chaptering and to comply with its mandate under R.A. No. 9646 (Real Estate Service Act) to register, unite and integrate all licensed and registered real estate practioners. Further, the default on the part of PhilRES to live up to the duties and responsibilities entrusted by the PRC and the Board warranted loss and confidence; thereby, furnishing the latter ample grounds not to give due course to the Petition.

Under the present circumstance where there is no existing AIPO for the real service profession, the Commission hereby suspends the imposition of Certificate of Good Standing requirement for the renewal of the Professional Identification Cards of all real estate service practioners.