In this day and age, anyone can become something they want to be. Provided that they do it with determination, hard work, and the tools that are needed to become what one wants to become. And this includes becoming a professional real estate broker.
All the available tools nowadays facilitate the access to this profession. There are plenty of courses, both offline and online, that one can enroll into to learn the tricks of the trade. But to become a true professional real estate broker, you need more than just learning and passing your course. In the Philippines, you need to pass the qualifications mandated by the Philippine Regulatory Commission or PRC.
What is the PRC?
Simply put, the PRC is a government organization created to regulate and supervise the practice of any profession here in the Philippines. In other words, one can’t become a true “professional” in his/her chosen career in the Philippines without the PRC’s approval. According to their official website, professional regulation has helped around 42 million registered professionals in the Philippines and will continue to do so for every aspiring professional aiming to get a license to practice their chosen profession. Therefore, if one wants to become a professional real estate broker, then he/she needs to get a license from PRC.
The Definition of a Professional Real Estate Broker and How to Become one
According to the PRC, there are around a dozen or more real estate professions that one can get a license for, but we will focus more on professional real estate brokers this time.
A professional real estate broker is a duly registered person who acts as an agent of a party in a real estate transaction. His/her role is to offer, advertise, solicit, list, mediate, promote, and negotiate both parties during a meeting on negotiating the terms and conditions for the sale or rent of a property.
In order to become a Professional Real Estate broker, you need to apply for your license and take an examination. Your application will then be reviewed by the Professional Regulatory Board of Real Estate Service. In order for the board to approve your license, you will need to pass the Licensure Examination and Registration, which is given by the Board. The scope of the examination are some of the following subjects:
- Fundamentals of real estate consulting
- Standards and ethics
- Consulting tools and techniques
- Real estate finance and economics
- Land management system and real estate laws
- Fundamentals of property ownership
- Code of ethics and responsibilities
- Real estate brokerage services
- Urban and land rural use
- Planning, development and zoning
- Documentation and registration
- Any other subjects as may be determined by the Board
For those who are not familiar with the subjects above, all of them can be learned by enrolling real estate courses in any school or college in the Philippines.
Failing to pass the Licensure Examination and Registration will automatically reject your license application for Professional Real Estate Broker.
Qualifications to become a Professional Real Estate Broker
- A citizen of the Philippines
- A holder of a relevant bachelor’s degree from a state university or college or any other educational institution recognized by CHED (Commission on Higher Education)
- Is of good moral character and must not have any criminal records
You also need to present the proper documents prior your application for the Licensure Examination:
- An original copy and a photocopy of your Birth Certificate or Certificate of Live Birth – This is proof that you are a citizen of the Philippines.
- An original copy and a photocopy of your transcript of records from your school – This is proof that you have the necessary subjects needed to be registered as a professional real estate broker.
- Original and photocopy of latest NBI clearance. – An NBI clearance is needed to show that you have no criminal records and that you are of good moral character.
- Original and photocopy of notarized certification by employer of his/her years of experience or pre-requisite Certificate of Registration (COR). – Anyone who has finished his/her on-the-job training when enrolled in a real estate course should have this document ready.
- Original and photocopy of duly notarized accredited seminar or training certificate – Seminars are a bonus when applying for a license; therefore, you should have attended any real estate training or seminar and have this document ready.
- A community tax certificate given by your local city hall or barangay. – This document is proof that you are a tax-paying citizen of the Philippines.
- Four colored passport-sized pictures with white background with complete name tag. – These are required for your PRC ID.
So for everyone out there who wants to become a professional real estate broker, you might want to jot down all the information above and save it on your phone or computer. Feel free to share it with your friends!