Before the current discussions surrounding the RPVARA and PRBRES Proposed Guidelines on Real Estate Practice, a significant effort was made in 2018 to address concerns regarding the Bangko Sentral ng Pilipinas (BSP) criteria for accrediting real estate appraisers. This initiative, led by AB Agosto during his tenure as National Director of the Philippine Association of Real Estate Boards (PAREB) underscored his longstanding commitment to advancing the real estate profession in the Philippines.
In 2018, PAREB submitted a detailed position paper to the BSP, with the guidance of the PAREB President, Atty. Rey Cartojano, the existing accreditation requirements were seen as overly restrictive and potentially limiting the opportunities for qualified appraisers. The paper highlighted several critical issues with the BSP’s criteria, including the mandated minimum company net worth and extensive experience prerequisites, which PAREB argued created unnecessary barriers for many capable appraisers.
This advocacy laid important groundwork for ongoing discussions and efforts regarding the RPVARA and PRBRES Proposed Guidelines on Real Estate Practice. The issues raised in 2018 continue to resonate as the industry seeks to balance regulatory requirements with the need for a dynamic and inclusive professional environment.
As the industry continues to evolve, the issues raised in 2018 remain relevant, especially in light of the current discussions on RPVARA and PRBRES guidelines. The historical context of these efforts highlights the importance of ongoing advocacy and reform to ensure that the real estate profession continues to meet the highest standards of practice.
You may access the position paper and other documents here:
The BSP reply is here.
In case you missed the previous posts:
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