Why become a PRC Licensed Professional Real Estate Broker?

Have you seen the movie The Pursuit of Happiness by Will Smith, where he portrayed the role of a broker in the person of Chris Gardner? Although he had a rough start, he ended up big time and made a glistening career as a broker.

Do you want to be like him? Well, you have to first pass Philippine Regulatory Commission’s Real Estate Broker’s Licensure examination.

But before I talk about this PRC Licensed Real Estate Brokers, I want to pose this question first:

What does brokers usually do? Are they different from Real Estate Agents?

Real estate brokers are very similar to real estate agents, except brokers have met the licensing requirements necessary to manage their own real estate businesses. Real estate agents who haven't earned a broker license have to work with a broker.

Real estate brokers help their clients to buy and sell residential and commercial properties. Some brokers specialize in selling one type of property, while others sell all types. Professional real estate brokers often employ real estate agents to work for them. In this situation, brokers handle the business details required to get a property listed and paid for, and then they pay the agents a commission for each property that they sell.

Now that we’ve already differentiated the two, let us now discuss the PRC Real Estate Broker Licensure Exam.

Here are the qualifications made by PRC: In order to be admitted to the licensure examination for real estate service, a candidate at the time of filing his/her application, shall establish to the satisfaction of the Board that he/she possesses the following qualifications: (A) Citizen of the Philippines,

(B) A holder of relevant bachelor’s degree from a state university or college, or other educational institution duly recognized by CHED: Provided, That he/she has completed at least one hundred twenty (120) credit units of real estate subjects and training from accredited service providers, as may be determined by the Board; Provided, further, that as soon as a course leading to 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,

(C) Is of good moral character, must not have been convicted of any crime involving moral turpitude,

There is no exact required course before you to take the real estate broker exam in the Philippines. As long as the course is related to a real broker’s job or as long as you have already undertaken specific training and subjects regarding real estate.

The Real Estate Service Act (RESA) Law was enacted on the year 2009. Many aspiring brokers have tried and passed the Real Estate Brokers Examination. This Law aims on the professionalism of the practitioners and could help the industry and the economy bring better property development and national income thru taxation.

Most of the takers are usually young. They are current sellers from developers, bank employees, sellers under brokers, and some were influenced by peers and are fresh graduates from universities who would like to take the opportunity for professional growth in real estate.

I won’t go over the Board examination tips and pointers because I haven’t experienced taking an actual PRC board Exam yet! ( Electrical Engineering board exam in my case ).

To those who wants to become a licensed professional real estate broker in the Philippines, Good luck and do your best to pass the exam. Financial stability is always possible when you become a licensed broker!