PRB MLS Terms and Conditions

Terms and Conditions

    1. This online facility is available only to members of Pasig Real Estate Board in good standing. Members in good standing must have their annual dues paid to the board. The MLS Committee is on active verification with the Secretariat of the members in good standing and may delete any listings posted by members that have not updated their annual dues.
    2. All details encoded in the property listing is only one and does not mix any other listing.
    3. All property listing details encoded in this online facility represents the near-identical description of the listing together with the declaration of correct professional fees to be given by the seller/buyer as indicated by the engagement documents (Authority to Sell/Lease,Solicit Properties/Joint Venture).
    4. The property listing is a direct and proprietary listing of a member. Documents such as Authority to Sell, Authority to Lease, Letter of Authority to Solicit Properties for Sale or Lease, or Letter of Authority to Arrange Joint Venture Development, Memorandum of Agreement, or such similar legal documents are available for inspection.
    5. The legal ownership documents are readily available for inspection from the property owner or representative (with powers of attorney) and easily verifiable from government agencies.
    6. The professional fee sharing follows the guideline set by Philippine Association of Real Estate Boards, Inc. The listing owner agrees to split in half the professional fee as indicated in the engagement documents (Authority to Sell/Lease, Search Properties, Joint Venture). The listing owner and the engaging broker shall not deprive each other of no less than fifty (50%) per cent of the professional fee.
    7. Any members who completed a transaction through MLS shall contribute a minimum donation of one thousand pesos (PHP 1,000.00) to the board.
    8. Foreclosed properties and inventories of large real estate developers (any natural person/s or juridical entities selling above 50 units) are not allowed to be listed here.
    9. All listings are subject for deletion every forty five days without notification from the listing owner.
    10. Units for conversion: 1 square meter = 10.76 square feet. 1 hectare = 10,000 square meters.
    11. All of the actions of the listing broker and the member shall uphold the Real Estate Service Act, Code of Ethics and Responsibilities for Real Estate Service Professionals, P.D. 957, Civil Code (with emphasis to contracts and obligations), Revised Penal Code (with emphasis to fraud), and other laws of the Republic of the Philippines.
    12. The terms and conditions of PRB MLS are subject to amendments to be introduced in monthly General Membership Meeting (GMM).

     

    Author: Mikael D. Manuel, reb 27527, rea 8782
    Date: February 6, 2018

Posted in: MLS