Mr. President, it is an honor to present before this chamber Senate Bill No. 2963, under Committee Report No. 232, entitled “An Act Regulating the Practice of Real Estate Service in the Philippines, Creating for the Purpose a Professional Regulatory Board of Real Estate Service, Appropriating Funds Therefor and for Other Purposes.”
Real property is considered as a major resource given its viability as a great financial asset not only of individuals or business groups, but of the government as well. It is the most stable, sustainable, and progressive source of income. Unfortunately, it’s vast potential for greater contribution to our gross domestic income remains to be fully tapped.
Real estate practitioners perform highly technical work which provides the basis for decisions on property sales, expropriations, compensation, mortgage financing, and most importantly in the assessment of taxes. It is for this reason that real estate service practitioners serve a vital role in spearheading the continuous flow of capital, in boosting investor confidence, and in promoting overall national progress. Continue reading “Sponsorship Speech for the RESA Bill”