Not every real estate agent or broker is a REALTOR®. The trademark REALTOR®and the familiar block “R” logo are patented to the National Association of REALTORS® of the USA. Only members in good standing of NAR-USA and its foreign affiliates are authorized to use them. While all REALTORS® are government-licensed brokers, majority of the non-REALTOR real estate agents in the Philippines are not. Another major difference between them is that the REALTORS® have taken an oath to abide by the stringent, enforceable REALTOR® Code of Ethics with Standards of Practice that promote the fair, ethical and honest treatment of all parties in a transaction. Non-REALTORS® take no such oath and are not morally bound to protect their clients and co-brokers from fraud, misrepresentation and other unethical practices that proliferate in the industry. For your peace of mind and as an extra precautionary measure, make sure to partner with aREALTOR®. The Philippine Association of REALTORS® Boards, Inc. (PAREB) is the umbrella organization of 42 boards from Luzon, the Visayas and Mindanao. Its general membership is composed of bonafide REALTORS® all of whom are government-licensed real estate brokers and many of whom are also licensed appraisers, real estate consultants, property developers, builders, and practitioners of other professions. The 47-year-old PAREB is the sole affiliate of the National Association of REALTORS® (NAR-USA) in the Philippines. By virtue of its international agreement with NAR-USA, PAREB members of good standing are given the right to exclusive use of the trademark REALTOR® and the block "R" logo in doing real estate business in the Philippines as well as the exclusive right to be called REALTORS®. REALTORS® devote time and effort to master the processes and intricacies of their calling, including the documentary and legal aspects of every transaction. REALTORS® keep themselves informed on current market conditions so that they may advise their clients on the fair market prices of real estate properties. REALTORS® ascertain all pertinent facts concerning every property for which they accept the agency so that they may fulfill their obligation without error, exaggeration, misrepresentation or concealment of pertinent facts. REALTORS® are committed to protect the public against fraud and other unethical practices that proliferate in the industry. Your REALTORS® is just a phone call away ready to provide you with professional advise and assistance in buying, selling or leasing a property. |