Real estate agents guide the purchase and selling of residential homes.
Real estate agents guide the purchase and selling of residential homes. Success as a real estate agent can lead to a lucrative and fulfilling career. Brokers interact with new people, visit new areas, and adapt to the demands of buyers and sellers, frequently requiring making last-minute changes to plans.
However, you must pass the real estate broker exam to obtain a license to work as a legitimate real estate agent. As a top-notch group with successful brokers and sellers, allow us to help you through the process of becoming a real estate broker.
What is the real estate licensure examination in the Philippines?
The Professional Regulatory Board for Real Estate Practice, an agency of the Professional Regulation Commission (PRC), organizes and conducts the licensing examination. As required by the Real Estate Service Act, also referred to as RESA law, aspiring real estate practitioners, including but not limited to consultants, appraisers, and brokers, must pass the exam.
How hard is the real estate licensure exam in the Philippines?
As an aspiring broker, you must research the exam specifications, take exam preparation classes, and comprehend the format of the exam. To feel confident on test day, you should also follow a regular study plan and use test-taking techniques like looking for hints inside the question and working backward to the right answer.
The PRC may change any of the 13 real estate-related subjects that make up the Real Estate Licensure Exam as they see proper. You can also check these main topics as a reference when studying because they will be covered in the written test:
General/Fundamentals of property ownership
Fundamentals of property ownership
Legal requirements for real estate practice
Code of Ethics and Responsibilities
Real estate brokerage practice
Special and Technical Knowledge
Real estate finance and economics
Subdivision development
Basic principles of ecology
Condominium concept
Professional Practice
The legal aspect of the sale
Urban and rural land use
Mortgage and lease
Planning development and zoning
Real property laws
Documentation and registration
The Board has the authority to decide on any additional related topics.
Professional Appraisal Practice
Methodology of evaluation techniques
Procedures and research in valuation
Mathematical evaluation in practice
drafting an appraisal report
equipment and machinery evaluation
A case study (including Specialized Valuation)
Principles of government assessment and taxation (application and computation)
System for Geographic Information (map reading and plotting)
As of May 2016, obtaining a Bachelor of Science in Real Estate Management is required to become a licensed real estate broker. The time when there were only a few requirements to obtain a license has long since passed. The PRC ID requirements have also been modified to reflect the changes.
The Real Estate Service Act (RESA), also known as Republic Act No. 9646, was enacted in 2009 to formalize the real estate service sector. Along with its goal of “increasing government income” through taxation, one of its primary goals is to ensure that all practitioners are registered and licensed.
Institutions that offer Real Estate Management Courses
Adamson University
De La Salle-College of Saint Benilde
Pamantasan ng Lungsod ng Maynila
Lyceum of the Philippines University
Philippine Christian University
New Era University
Lyceum of Alabang
ABE International Business College
Manila Business College
STI College
University of the Cordilleras
University of Cebu
Central Philippine University
Southwestern University
College of St. John – Roxas
Saint Joseph Institute of Technology
Misamis University
University of Mindanao
How do I become a licensed real estate broker in the Philippines in 2023?
With the exception of the modified educational background requirement, the qualifications for obtaining a real estate broker license have largely remained the same. The current specifications are:
You must be a graduate of Bachelor of Science in Real Estate Management
You must have no criminal convictions or must have evidence of good moral character.
Your application has been submitted in full to the PRC, which will then evaluate the application. Then you will receive the permit from the PRC’s Board of Real Estate Service after it has been approved, which is required for you to take the real estate broker exam.
After passing the tests, candidates must submit the following documentation to the PRC:
Birth certificate photocopy or current passport
Records transcript and BS REM diploma
National Bureau of Investigation clearance
Local tax certificate
Four photos the size of a passport
How To Pass the Real Estate Broker Exam in 5 Steps
Use Acronyms to Remember – Using acronyms when studying is a time-tested strategy. Using mnemonics and acronyms helps you remember large amounts of information. To do this, a brief, catchy word or phrase that serves as a reminder of a larger body of knowledge is created.Doing this allows you to store information in your brain more effectively and prevent memory loss when it comes time to recall an answer on the real estate exam.You’ll encounter acronyms on the real estate state exam that you’ll need to be familiar with.
Broaden Your Studying – Changing up your course of study is referred to as diversifying it. You’ll cover more territory and retain more information if you mix it up by occasionally studying various topics.Challenge yourself!You avoid developing a narrow focus on a single subject by mixing up your study material. You won’t be reviewing material you already know due to this, which will keep learning engaging and new.Review it, absorb it, and continue.
Organize your study time – Consistency is key to successful study. You can take the time to concentrate on the content by setting up a study timetable.For instance, you could plan to study from 6:00 PM to 8:00 PM, Monday through Friday. Additionally, you have the option of choosing other days of the week to study, such as Monday, Wednesday, and Friday. The main line is that you need to plan your time.Study schedules are successful because they represent a dedication to learning. Without a timetable, studying will be challenging and leave you feeling disoriented. When something is difficult, we frequently put it off in order to avoid doing it.
You can establish a study group – Getting supervised assistance is one of the greatest methods to study for a real estate exam. Making a study group has even more benefits for you. By forming a study group, you can ask each other questions for a last-minute test.Others can now test you rather than just covering your book and asking yourself.Imagine how much better it would be if you had four or five minds; after all, “two minds are better than one,” as they say.The accountability aspect of starting a study group is another benefit. You can be held responsible for studying at a particular time on a particular day. When you feel like you can’t continue on, your study partners can help you and motivate you to do so.
Make use of Mock Exam Preparation- Check out some mock exam prep if you’re seeking for a simple and efficient way to study for the state exam. The exam preparation is made to make getting ready for the state exam easy.Additionally, you get access to flashcards for fast terminology exercises that will reinforce important concepts. You receive a simulated state exam that employs questions and time constraints that are comparable to those on the real state exam.Take the practice state examinations more than once instead of just once. Try to achieve 80% or more. You’re good to go if you can consistently achieve a score of 80% at least five times.
You get a license. Congratulations! However, that might not imply you can immediately begin selling houses. The majority of states mandate that you work with a broker who sponsors your initial two to three years of employment as an agent.
Simply defined, a real estate brokerage is a company or office where real estate brokers are employed. It’s a good idea to discover a broker before finishing your training course because you’ll probably need one to generate profits.
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