So you want to become
licenced and registered real estate broker in the Philippines? Allow me to share this idea for you to
kick start you quest for the coveted license.
Primarily, the guidelines
and practice of real estate brokerage is governed by the law whose acronym is RESA
LAW otherwise known as Republic Act No. 9646 - AN ACT REGULATING THE
PRACTICE OF REAL ESTATE SERVICE IN THE PHILIPPINES, CREATING FOR THE PURPOSE A
PROFESSIONAL REGULATORY BOARD OF REAL ESTATE SERVICE, APPROPRIATING FUNDS
THEREFOR AND FOR OTHER PURPOSES which took effect on June 29, 2009 and,
Presidential Decree No.
957 - REGULATING THE SALE OF SUBDIVISION LOTS AND CONDOMINIUMS, PROVIDING
PENALTIES FOR VIOLATIONS THEREOF which took effect on July 12, 1976.
Step 1 Eligibility
Every applicant seeking
to be registered and licensed as a real estate service practitioner need a
report of rating for the Licensed Real Estate Broker examination (which is
given once a year), a simple report is showing whether you passed or failed the
exam and what your final score is. For complete set of requirements for
examination, see checklist below;
Checklist of
Requirements (ORIGINAL and PHOTOCOPY)
1. Transcript of records
(TOR) – with scanned picture, and noted “For Board Exam Purposes”
Scope of examination
For real estate brokers
- fundamentals of property ownership; code of ethics and responsibilities;
legal requirements for real estate service practice; real estate brokerage
practice; subdivision development; condominium concept; real estate finance and
economics; basic principles of ecology; urban and rural land use; planning,
development and zoning; legal aspect of sale, mortgage and lease; documentation
and registration; real property laws; and any other related subjects as may be
determined by the Professional Regulatory Board of Real Estate Service
(PRBRES).
The examination items
above are subdivided into;
I General/Fundamentals
of Real Estate Service (25%)
II Special and Technical
Knowledge (25%)
· Subdivision
Development (includes PD 957, BP 220, RA 7279, etc)
III Professional
Practice (50%)
· Real Estate Brokerage
Practice
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
Professional Regulatory Board of Real Estate Service (PRBRES) 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 course is known as Bachelor's in Science in Real Estate
Management - BSRM), 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: Provided, That an applicant for the licensure examination for real
estate consultants must show proof that he/she has at least ten (10) years’
experience as a licensed real estate broker or an assessor, or as a bank or
institutional appraiser or an employed person performing real property
valuation, or at least five (5) years’ experience as a licensed real estate
appraiser.
Registration Without
Examination, - Upon application and payment of the required fees, the following
shall be registered, and shall be issued by the Board and the Commission a
certificate of registration and a professional identification card without taking
the prescribed examination:
(a) Those who, on the
date of the affectivity of RESA LAW of 2009), are already licensed as real
estate brokers, real estate appraisers or real estate consultants by the
Department of Trade and Industry (DTI) by virtue of Ministry Order No. 39, as
amended: Provided, That they are in active practice as real estate brokers,
real estate appraisers and real estate consultants, and have undertaken
relevant CPE to the satisfaction of the Board;
Foreign Reciprocity. - A
foreign real estate service practitioner shall be admitted to the licensure
examination or be given a certificate of registration or a professional
identification card, or be entitled to any of the privileges under RESA Law if
the country of which he/she is a citizen specifically allows Filipino real
estate service practitioners to practice within its territorial limits on the
same basis as citizens of such foreign country.
Online Examination
Application. - Link
Step 2. After Passing the Examination
Ratings in the
Examination. - In order that a candidate may be deemed to have successfully
passed the examination, he/she must have obtained an average of at least
seventy-five percent (75%) in all subjects, with no rating below fifty percent
(50%) in any subject.
All successful examinees
qualified for registration and all qualified applicants for registration
without examination as well as accredited salespersons shall be required
to;
(a) Take an oath before
any member of the Board or any officer of the Commission duly authorized by the
Commission to administer oaths prior to entering into the practice of real
estate service in the Philippines.
(b) Required to post a
professional indemnity insurance/cash or surety bond, renewable every three (3)
years, in an amount to be determined by the Board, which in no case shall be
less than Twenty thousand pesos (P20,000.00), without prejudice to the
additional requirement of the client.
For Part II Please click this link
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