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How to get a real estate license in the Philippines

As a new person in the field who wishes to get their real estate license in the Philippines here are the following most frequently asked questions..

1. What are the requirements for a person to get licensed in the Philippines?

There are five categories of real estate practitioners in the Philippines

(1) Real estate consultant – a duly registered and licensed -natural person who, for a professional fee, compensation or other valuable consideration, offers or renders professional advice and judgment on: (i) the acquisition, enhancement, preservation, utilization or disposition of lands or improvements thereon; and (ii) the conception, planning, management and development of real estate projects.
(2) Real estate appraiser— a duly registered and licensed natural person who, for a professional fee, compensation or other valuable consideration, performs or renders, or offers to perform services in estimating and arriving at an opinion of or acts as an expert on real estate values, such services of which shall be finally rendered by the preparation of the report in acceptable written form.
(3) Real estate assessor — a duly registered and licensed natural person who works in a local government unit and performs appraisal and assessment of real properties, including plants, equipment, and machineries, essentially for taxation purposes.
(4) Real estate broker – a duly registered and licensed natural person who, for a professional fee, commission or other valuable consideration, acts as an agent of a party in a real estate transaction to offer, advertise, solicit, list, promote, mediate, negotiate or effect the meeting of the minds on the sale, purchase, exchange, mortgage, lease or joint venture, or other similar transactions on real estate or any interest therein.
(5) Real estate salesperson – a duly accredited natural person who performs service for, and in behalf of. a real estate broker who is registered and licensed by the Professional Regulatory Board of Real Estate Service for or in expectation of a share in the commission, professional fee, compensation or other valuable consideration.

 

2. What law governs the real estate practice in the Philippines?

Republic Act (R.A.) No. 9646, or The Real Estate Service Act of the Philippines which is more commonly referred to as the RESA law has been signed into law by president Gloria Macapagal-Arroyo last June 29, 2009. As mentioned in this article, it hopes to professionalize and regulate the practice of real estate in the country through the development of technically competent, trained, and accountable real estate practitioners in the country. We have published its full context here http://globaltechsource.net/realestate/?page_id=43

3. What is the importance of the RESA law?

The RESA law through the Professiobal Regulations Commission now governs the licensing of real estate practitioners.

Only licensed real estate practitioners are to be engaged in the practice of real estate subject a few exemptions.

Any violation of this Act, including violations of implementing rules and regulations, shall be meted the penalty of a fine of not less than One hundred thousand pesos (P100,000.00) or imprisonment of not less than two (2) years, or both such fine and imprisonment upon the discretion of the court. In case the violation is committed by an unlicensed real estate service practitioner, the penalty shall be double the aforesaid fine and imprisonment.

4. What should i do if i am interested to obtain a salesperson license?

A person is qualified to apply as a salesperson if he/she is one of the following categories:
  • Category 1: He/she has at least 2nd year or 72 units in college of educational attainment, with or without prior experience
  • Category 2: He/she is at least a highschool graduate and with and existing DTI/HLURB Registration
  • Category 3: He/she is at least a highschool graduate and with at least three (3) years of active practice

 

The specific requirements per category are as follows:
  • Category 1:
    • Original and Notarized Certificate of Educational Attainment on the Completion of at least two (2) years of college
    • Original and Notarized Certification of at least 12 credit units in a CPE class on Real Estate Brokerage
  • Category 2:
    • Original and Notarized Certificate of Educational Attainment on the Completion of at least highschool graduate (e.g. Highschool diploma)
    • Original and Notarized Certification of at least 120 credit units (60 units classroom lecture, 60 units training/fieldwork, certified by the developer/broker)
    • Original and Notarized Certification of his/her DTI Licensed Real Estate Broker or HLURB-Registered Real Estate Developer
    • Original and photocopy of DTI/HLURB Certificate of Registration as Salesperson
  • Category 3:
    • Original and Notarized Certificate of Educational Attainment on the Completion of at least highschool graduate (e.g. Highschool diploma)
    • Original and Notarized Certification of at least 120 credit units (60 units classroom lecture, 60 units training/fieldwork, certified by the developer/broker)
    • Original and Notarized Certification of his/her Supervising Real Estate Broker of HLURB-registered Real Estate Developer

The salesperson is not required to take a PRC exam.

5. What should i do if I’m interested to become a real estate broker?

In order to be admitted to the licensure examination for real estate service, a candidate shall, at the time of filing his/her application, establish to the satisfaction of the Board that he/she possesses the following qualifications:
(a) A citizen of the Philippines;
(b) A holder of a relevant bachelor’s degree from a state university or college, or other educational institution duly recognized by the CHED: Provided, That as soon as a course leading to a Bachelor’s degree in Real Estate Service is implemented by the CHED, the Board shall make this course a requirement for taking the “licensure examination; and
(c) Of good moral character, and must not have been convicted of any crime involving moral turpitude

at the present time you would need to have taken  120 hours of real estate courses to submit to the PRC.

6. What school of real estate can give me the 120 hour real estate course?

There are various real estate boards that schedule the 120 hours of real estate course. SCORE exponent training center is am independent training center and  recognized provider and will be holding the 120 hour real estate course starting this october 8, 2011.

Here is the link to the class information http://www.globaltechsource.net/score

 

7.When can I take the broker’s exam?

The last broker exam was given on March 2011 and is known to be given once a year. There is no final date set yet by the PRC but is it advised to take the 120 hour real estate course as early as you can to be able to master the subject matter.


 

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