In the Philippines, the right term to use the term Realtor® pertains only the license Real Estate broker regular member of the realty board recognized by and under the supervision of the Philippine Association of Realtors® Boards (PAREB).
Realtor® is the service mark registered in the commission of patents of the United States as Document No. 515199 and in the Philippine patent office as Document No. 5385, as property of National Association of Realtors® Boards (NAREB), U.S.A hence, the authority from NAREB (renamed National Association of realtors or NAR) is a requisite or entitlement to use the patented designation. Such authority was conferred to PAREB pursuant to an agreement signed on Nov. 2, 1960 at the ceremonial at Malacañang Palace by then NAREB President Armel C. Nutter and PAREB President Antonio Varias, witnessed by then Philippine President Carlos P. Garcia and then U.S. Ambassador Jhon D. Hickerson.
The NAREB – PAREB agreement provides that “the emblem seal and the term Realtor® should be used and employed exclusively within the Philippine by PAREB xxx” and that PAREB shall, among others, “permit said term to be used by the Association and the members thereof who subscribed to the Code of Ethics”. It is also the requisite that application for Realtor membership should be circularized to all PAREB constituent member boards and such application may only be acted upon 45 days following the circularization to allow evaluation of reports and information bearing the qualification or disqualification to the applicants, particularly those relating to unethical or other inimical act and practices which tend to bring disrepute on the title Realtor®, should it be conferred to the applicants.
The unauthorized use of the term Realtor® is an infringement of the punishable under Republic Act No. 166. It also constitutes a ground for revocation of a Real Estate Brokers license pursuant to DTI Administrative Order 75 – 1.
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