THE real estate industry is facing a pervasive issue of unregulated practices that impact both consumers and the growth of the sector. By addressing this challenge head-on, my column aims to provide insights and solutions relevant to today's market needs. We will examine the challenges facing the real estate industry and related business concerns.

Real estate service practice includes the activities of salespersons, brokers, appraisers and consultants, as defined by Republic Act 9646, the Real Estate Service Act of the Philippines, signed into law on June 29, 2009. This law regulates the real estate profession and recognizes the vital role of practitioners in the country’s social, political and economic development. It aims to uphold high standards through effective regulation and supervision, ensuring practitioners are competent and globally competitive to support industry growth.