If you want to learn more about what it takes to pass the Real Estate Broker Licensure Board Exam to get your license, we’ve got you covered.
In this article, we’ll go over everything you need to understand about the board exam, from the schedule to the qualifications. Having said that, if you’re interested and would like to know everything, keep reading.
What is a Real Estate Broker?
A real estate broker is a real estate dealer who pursues further education and obtains a professional real estate broker license. Brokers, unlike real estate agents, will operate independently and start their own brokerage, as well as employ other real estate agents.
A real estate broker is responsible for negotiating and arranging real estate deals. This licensed individual’s regular responsibilities include writing contracts and supervising transactions for residence, land, and commercial property sales and purchases. A broker has a higher-level credential than a real estate agent and can recruit real estate agents to serve as part of a team under their supervision.
What is the Real Estate License Exam Philippines?
Excluding the Philippine Bar Exam, which is administered by the Supreme Court, the PRC is the official body in charge of all licensing exams in the nation. As a rule, the PRC is in charge of regularly conducting the Real Estate Brokers Licensure Examinations.
In order to take the Real Estate Brokers’ licensure exams, applicants must satisfy the qualification criteria outlined in the sections below.
To protect the profession’s integrity, qualifying applicants and prospective practitioners who want to take the license examination must adhere to these stringent applicant registration requirements.
Licensure Requirements for the Real Estate Broker Board Examinations
All prospective Real Estate Brokers must have a Bachelor’s degree in Real Estate Management and present the following requirements upon the filing of application:
- Transcript of Records with scanned picture and remarks “For Board Examination Purposes”
- Valid NBI Clearance (First Timers & Repeaters)
- Application fee of Php 900
- NSO / PSA Marriage Contract (for married female applicants)
- NSO / PSA Birth Certificate
Real Estate Broker Licensure Exam Online Application Process
The Professional Regulation Commission’s online LERIS portal offers a straightforward automated process for any application preliminary scheduling, making scheduling an appointment extremely convenient for any candidate. The PRC actively informs all candidates to generate their preferred schedules online before submitting their documentary requirements to a regional or PRC satellite office near them.
If you are unable to register due to technical issues, our step-by-step solution will be able to assist you; however, if you are already acquainted with the procedure, you can go to the PRC LERIS website for speedy registration.
Real Estate Broker Board Exam Coverage
The Real Estate Broker Licensure Examination consists of the following main topics. We’ll go over them one by one:
- Fundamentals of property ownership
- Code of Ethics and responsibilities
- Legal requirements for real estate practice
- Real estate brokerage practice
- Subdivision development
- Condominium concept
- Real estate finance and economics
- Basic principles of ecology
- Urban and rural land use
- Planning development and zoning
- The legal aspect of the sale
- Mortgage and lease
- Documentation and registration
- Real property laws
- Any other related subjects as may be determined by the Board.
Real Estate Broker Board Exam Schedule
The Real Estate Broker Licensing Board examinations are normally conducted at least once a year, according to the Professional Regulation Commission.
This timeline outlines when and how candidates should apply for the Real Estate Broker Exam, as well as the date for their paperwork qualifications to be successfully submitted.
Due to the severity of the pandemic, you can also access the official Commission website on a regular basis for more up-to-date information and advice if you have any problems or doubts about taking the license exam.