The Professional Regulation Commission (PRC) has announced that 8 out of 9 candidates successfully passed the Real Estate Brokers Special Professional Licensure Examination. This examination was administered by the Board of Real Estate Service in June 2024 across multiple locations, including Abu Dhabi and Dubai in the United Arab Emirates, Doha in Qatar, and Riyadh in the Kingdom of Saudi Arabia.
Examination and Board Details
The licensure examination was conducted by a distinguished panel from the Board of Real Estate Service, which includes:
- Hon. Ofelia C. Binag, Chairman
- Hon. Rafael M. Fajardo, Member
- Hon. Jose Arnold M. Tan, Member
- Hon. Pilar M. Torres-Banaag, Member
Registration Requirements
Successful examinees are required to complete the registration process by personally signing in the Roster of Registered Professionals. The registration entails the following steps and required documents:
1. Downloaded and Duly Accomplished Oath Form (Panunumpa ng Propesyonal): This form is a vital part of the registration process and must be correctly filled out.Importance of Personal Registration
To ensure the integrity and accuracy of the registration process, the PRC mandates that all successful examinees must personally appear to register and sign in the Roster of Registered Professionals. This measure helps maintain the professional standards and credibility of the real estate brokerage profession.
The PRC’s announcement marks a significant achievement for the 8 successful candidates who have demonstrated their competence in the field of real estate brokerage. Their success underscores the importance of rigorous professional standards and the value of certification in ensuring high-quality service in the real estate industry.
PERFORMANCE OF SCHOOLS
The performance of schools in the June 2024 Real Estate Brokers Special Professional Licensure Examination in alphabetical order as per R.A. 8981 otherwise known as PRC Modernization Act of 2000 Section 7(m) "To monitor the performance of schools in licensure examinations and publish the results thereof in a newspaper of national circulation" is as follows:
Any discrepancy in the report is not intentional on the part of the Commission, but rather due to miscoding of school codes by the examinees themselves. Concerned schools may write the Commission for correction.
The academic content for a Real Estate Broker in the Philippines typically involves a combination of theoretical knowledge, practical skills, legal regulations, and ethical considerations related to real estate transactions and property management. Here's an overview of the key academic content areas for a Real Estate Broker:
1. Real Estate Principles and Practices
- Real Estate Fundamentals: Understanding of real estate terminology, principles of property ownership, and types of real estate transactions.
- Real Estate Market Analysis: Techniques for evaluating market trends, property values, and investment opportunities.
- Property Management: Principles of property maintenance, tenant relations, and lease agreements.
- Real Estate Finance: Basics of mortgage financing, loan calculations, and financial analysis for real estate investments.
2. Legal Aspects of Real Estate
- Real Estate Laws and Regulations: Familiarity with local and national laws governing real estate transactions, property rights, and land use regulations.
- Contracts and Agreements: Understanding of legal contracts, purchase agreements, leases, and disclosures required in real estate transactions.
- Ethical Standards: Adherence to ethical standards and professional conduct in real estate dealings, including fair housing laws and anti-discrimination policies.
3. Property Valuation and Appraisal
- Property Valuation Methods: Techniques for assessing property values, including comparative market analysis, income approach, and cost approach.
- Appraisal Principles: Understanding of appraisal standards, methodologies, and techniques for determining property values.
- Valuation Software: Utilization of valuation software and tools for property appraisal and market analysis.
4. Real Estate Marketing and Sales
- Marketing Strategies: Development of marketing plans, advertising campaigns, and promotional materials for real estate listings.
- Sales Techniques: Effective negotiation skills, client relationship management, and closing strategies for real estate transactions.
- Technology in Real Estate: Utilization of digital marketing tools, social media platforms, and online listing services to reach potential buyers and sellers.
5. Real Estate Investment Analysis
- Investment Principles: Evaluation of real estate investment opportunities, risk assessment, and return on investment analysis.
- Investment Strategies: Portfolio diversification, asset allocation, and long-term wealth building through real estate investments.
- Taxation: Understanding of tax implications and incentives related to real estate investments, including capital gains tax, property tax, and depreciation.
Regulatory Framework and Certification
- Professional Regulation Commission (PRC): The PRC regulates the licensing and practice of real estate brokers in the Philippines.
- Real Estate Broker Licensure Examination: Mandatory examination administered by the PRC for individuals seeking to become licensed real estate brokers.
Continuing Education and Professional Development
- Continuing Professional Development (CPD): Completion of CPD units through seminars, workshops, and training programs to maintain licensure.
- Advanced Certifications: Pursuing specialized certifications in areas such as property management, real estate finance, or real estate law for career advancement.
Industry Engagement and Internship
- Internship Programs: Practical experience through internships with real estate brokerage firms, property developers, or real estate agencies.
- Mentorship: Guidance and mentorship from experienced real estate brokers to learn best practices and industry insights.
By covering these comprehensive academic content areas, Real Estate Broker programs in the Philippines aim to prepare students to become competent, knowledgeable, and ethical professionals capable of facilitating successful real estate transactions and providing valuable services to clients in the real estate market.