There was definitely a need to reevaluate and implement new requirements in becoming a Real Estate Broker in the Philippines. The profession has now been recognized and respected as an authority in strengthening the economy of the country. These Licensed Real Estate Brokers, including myself, can really help numerous government agencies in avoiding many unscrupulous people commit fraudulent acts and improve the nation’s taxation income as well.
It was time to take it to another level and further professionalize all these upcoming practitioners to ensure high standards are maintained in this sector. Backed by the Republic Act 9646, also known as the Real Estate Services Act which states all individuals practicing real estate services to the public must have the required knowledge and be duly licensed and registered with the government.
The Commission on Higher Education (CHED) issued Memorandum Order 28 implementing Bachelor of Science in Real Estate Management (BS REM) and with the graduation of the first batch last 2016, it has become the new education requirement in taking the licensure exam. Now strict conditions to become a Real Estate Broker are in place and here is how to get it,
- Enroll in a school that offers the Bachelor of Science in Real Estate Management (BS REM). A prerequisite so you may learn the needed knowledge to practice in the Real Estate industry. It is a 4-year degree course and notable schools here in Manila offering it are De La Salle University – College of Saint Benilde, iAcademy, Philippine Christian University, New Era University and STI Colleges, just to name a few. It is best to contact schools for confirmation.
- Once you’ve graduated and received your Bachelor’s Degree diploma, you may now go to the Professional Regulation Commission (PRC) and apply for your licensure exam the soonest. With this, the following requirements are needed for submission,
- Completely filled-up PRC Exam Application Form
- Bachelor’s Degree in Real Estate Management Diploma
- Transcript of Records with scanned picture and remarks “For Board Examination Purposes”
- NSO / PSA Birth Certificate
- NSO / PSA Marriage Contract (Married Female Applicants)
- Valid NBI Clearance (First Timers & Repeaters)
- Community Tax Certificate or Cedula
- 4 pcs. Colored Passport Photos (with white background and name tag)
- Examination Fee of PHP900.00
- Once your application has been assessed and approved, you are now given the permit which will be needed to take the Real Estate Broker Exam. The date of examination is set and is held in key cities across Philippines.
- Review and study hard. There are a couple of review centers to help you ace this.
- You may now take your licensure exam and now wait for the results to be announced by PRC. This is published in the leading newspapers and in the PRC website usually within 3-5 working days.
- If you have successfully passed the exam, you may now do your initial registration online at the PRC website for the issuance of your Professional Identification Card and Certificate of Registration. Before going online make sure you have the following:
- Email Address
- Mobile Number
- Personal Data (Including Date of Graduation)
- ID Photo in. jpg format saved on the computer, phone or tablet you are using
- Community Tax Certificate or Cedula
- Printer (for the Oath Form)
- You may now proceed to the PRC office you selected to register and bring these requirements:
- Duly accomplished Oath Form or Panunumpa ng Propesyonal
- Notice of Admission (for identification only)
- 2 pcs. Colored Passport Photos (with white background and name tag)
- 2 sets of Documentary Stamps
- 1 pc. Short Brown Envelope
- Original Surety Bond (PHP20,000.00 Minimum Amount) with the Professional Regulation Commission (PRC)/Housing and Land Use Regulatory Board (HLURB) as Obligee.
* Successful examinees should personally register and sign in the Roster of Registered Professionals
- The date and venue of the oath taking ceremony shall then be given.
- You may start practicing your profession as a new Licensed Real Estate Broker and be involved in various real estate deals all around the Philippines.
As we have now reached this level of respect and recognition from our fellow professionals, let us not squander this and just accept the changes made by the agencies involved. Almost everything goes to birthing pains though we can look at a bright future of well-respected practitioners taking over our reign. It is a welcoming sight. I’m wishing all the best to those who would take this profession. It’s worth it and can be fulfilling with all the people you can help.
By: Peter Norrdell