As of May 2016, only Bachelor of Science in Real Estate Management (BS REM) degree holders are now qualified to take the broker’s licensure exam as per Republic Act No. 9646, known as the Real Estate Service Act (RESA) of the Philippines.
Memorandum Order No. 28 has been issued by CHED in October 2011 which includes guidelines and policies for the implementation of BS REM. BS REM is a program developed to prepare students for a career in the field of real estate management in different institutions and to come up with globally competitive real estate practitioners whether in the practice of appraisal, brokerage, consultancy and salesmanship. This degree became an official requirement for examinees in 2016.
You should pass the examination first to become licensed; and to be able to take the test, you must:
- Be a Filipino citizen, although foreigners may apply under the foreign reciprocity clause;
- Possess good moral character, and not have been convicted of any crime involving moral turpitude; and
- Possess a Bachelor of Science Degree in Real Estate Management (BS REM).
The requirements for real estate broker license to be passed or given to PRC are:
- Completed exam application form
- Photocopy of birth certificate or valid passport
- Transcript of records and BS REM diploma
- Clearance from the National Bureau of Investigation
- Community tax certificate
- Four passport sized pictures
- Metered documentary stamps
- Examination fee
If you are planning to become a real estate broker, good luck on your journey! Share your experience by leaving a comment below.
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