Section 5. Powers and Functions of the Board. —

The Board is hereby vested the following powers and functions:

1. Provide comprehensive policy guidelines for the promotion and development of the real estate industry;

2. Conduct licensure examinations for the practice of the real estate service profession and prescribe the appropriate syllabi of the subjects for examination;

3. Issue, suspend, revoke or reinstate, after due notice and hearing, certificates of registration or professional identification cards for the practice of real estate service;

4. Maintain a comprehensive and updated register of licensed real estate service professionals;

5. Monitor the conditions affecting the practice of real estate service and adopt such measures as may be proper for the enhancement of the profession and/or the maintenance of high professional, ethical and technical standards;

6. Adopt a national Code of Ethics and Responsibilities to be strictly observed by all licensed real estate service practitioners;

7. Hear or investigate any violation of this Act, its implementing rules and regulations, and the Code of Ethics and Responsibilities for real estate service practitioners and issue subpoena and subpoena duces tecum to secure the appearance of witnesses and the production of documents in connection therewith;

8. Safeguard and protect legitimate and licensed real estate service practitioners and, in coordination with the accredited and integrated professional organization of real estate service practitioners, monitor all forms of advertisements, announcements, signboards, billboards, pamphlets, brochures and others of similar nature concerning real estate and, where necessary, exercise its quasi-judicial and administrative powers to finally and completely eradicate the pernicious practices of unauthorized or unlicensed individuals;

9. Prescribe, in cooperation with the Commission on Higher Education (CHED) or the concerned state university or college, the essential requirements as to the curricula and facilities of schools, colleges or universities seeking permission to open academic courses or already offering such courses in real estate service, and to see to it that these requirements, including the employment of qualified faculty members, are properly complied with;

10. Promulgate, administer and enforce rules and regulations necessary in carrying out the provisions of this Act;

11. Supervise and regulate the registration, licensure and practice of real estate service in the Philippines;

12. Assess and fix the rate of reasonable regulatory fees;

13. Administer oaths and affirmations;

14. Adopt an official seal of the Board;

15. Evaluate periodically the status of real estate service education and profession, and recommend and/or adopt measures to upgrade and maintain its high standard;

16. Prescribe guidelines and criteria for the Continuing Professional Education (CPE) program for real estate service practitioners in consultation with the accredited and integrated professional organization of real estate service practitioners;

17. Screen, issue and monitor permits to organizations of real estate professionals in the conduct of seminars and accredit such seminars pursuant to the CPE program, as well as the instructors or lecturers therein, for the purpose of upgrading the quality and knowledge of the profession;

18. Monitor and supervise the activities of the accredited and integrated professional organization and other associations of real estate service practitioners; and

19. Discharge such other powers, duties and functions as the Commission may deem necessary to carry out the provisions of this Act.

The policies, resolutions and rules and regulations issued or promulgated by the Board shall be subject to the review and approval by the Commission. However, the Board's decisions, resolutions or orders which are not interlocutory, rendered in an administrative case, shall be subject to review by the Commission only on appeal.