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Questions Concerning Real Estate Brokers and Salesmen
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FAQs
Revocation of Registration as Brokers and Salesmen
Registration may be refused or any registration granted be revoked by the Board, if, after reasonable notice and hearing, it shall determine that such applicant or registrant:
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Has violated any provisions of Section 11 of PD 957 or any rules or regulations being implemented;
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Has made a material false statement in his application for registration;
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Has been guilty of a fraudulent act in connection with any sale of a subdivision lot or condominium unit;
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Has demonstrated his unworthiness, to transact the business of broker or salesman, as the case may be.
In case of charges against salesman, notice thereof shall also be given the broker employing such salesman.
Pending hearing of the case, the Board shall have the power to order the suspension of broker’s or salesman’s registration provided that such order shall state the cause for the suspension.
The suspension or revocation of the registration of a broker shall carry with it all the suspension or revocation of the registrations of all his salesmen.
In cases, the licensed brokers or salesmen decided to voluntary cease from further engaging in the real estate business, the broker or salesman shall surrender his Certificate of Registration to the Board and his/her name shall be cancelled from the Books of Register.
Voluntary Cancellation of Registration
In case the broker or salesman decided to discontinue his practice as a real estate agent, the broker or salesman may apply in writing with the Board for the temporary cancellation of his registration provided that said broker or salesman must renew his/her license for the current year. If this was undertaken, and the broker or salesman decided to continue his/her practice after a period of time, shall not be penalized by the Board and/or the DTI for his/her non-renewal of registration.
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