Are you now prepared to work as a licensed Real Estate Agent in the country? Then you’ve come to the right place!
In this post, we will go over everything you need to know about the Real Estate Consultant Licensure Board Exam in the Philippines, including all of the criteria you will need to present and what to prepare for.
So, if you’re ready to get a leg up, scroll down to learn more.
- What is a Real Estate Consultant?
- What are the Real Estate Consultant Licensure Exams?
- Requirements for the Real Estate Consultant Board Examinations
- Real Estate Consultant Licensure Examination Registration Procedure
- Real Estate Consultant Board Exam Coverage
- Real Estate Consultant Licensure Exam Schedule in 2021
What is a Real Estate Consultant?
Real estate consultants are specialists who help buyers and sellers make better decisions about real estate purchases. They will, for example, assist in financial analyses for a specific property or strategic planning while attempting to construct your portfolio.
These consultants often deal with real estate developers rather than residential buyers and sellers because their position in a transaction is more oriented toward wealth management. Bringing on a consultant, for example, can be a perfect way for someone hoping to be a real estate mogul to build a detailed real estate investment plan and set targets for developing a thriving real estate sector.
What are the Real Estate Consultant Licensure Exams?
The Professional Regulation Commission, also known as the PRC, is the state committee in the Philippines in the authority of all licensing exams, except the Philippine bar exam. Thus it administers the Real Estate Consultant Licensure Board Exam.
Applicants must have a Bachelor’s Degree in Real Estate Service from a well-known college, school, or university in order to take the Real Estate Consultant Licensure Examination.
To maintain the integrity of the workers, these requirements are obligatory for the credentials of candidates and soon-to-be passers who have undertaken a license test.
Requirements for the Real Estate Consultant Board Examinations
Before applying to take the Real Estate Consultant Licensure Board Exam, all of the following requirements must be met:
- Passport-sized image of the applicant with a white background and collared attire;
- Transcript of Records accompanied by a scanned image and the remarks “For Board Review Purposes”;
- A copy of the applicant’s Birth Certificate issued by the Philippine Statistics Authority (PSA);
- A copy of the Marriage Contract from the NSO or the PSA (applicable to married female applicants only);
- Documentary stamps;
- A valid NBI Clearance;
- Proof of at least ten (10) years experience as a licensed real estate broker, or an assessor, or as a bank, institutional appraiser, or an employed person performing real property valuation, or at least five (5) years experience as a licensed real estate appraiser;
- Project Feasibility Study (hard & soft copy)
- An examination payment of Php 900.00;
Real Estate Consultant Licensure Examination Registration Procedure
The PRC LERIS online portal includes a simple database schema for all license examinations. The PRC highly encourages all aspiring professionals to verify their appointments on the online portal before sending the paperwork qualifications to a regional or PRC Satellite Office of their choice.
If you are unable to register due to unfamiliarity with the process, our step-by-step method will help you schedule an appointment date – or, if you already have a clear understanding of the system, go directly to the PRC LERIS website for registration.
Real Estate Consultant Board Exam Coverage
The Real Estate Consultant Licensure Examination will cover the following subjects, for which you must plan months, if not years, in advance. The following are the subjects that will be covered along with their corresponding weight:
Fundamental of Real Estate Consulting – 30%
- Fundamental of Consulting
- Standards and Ethics
- USPRCP (Uniform Standard of Professional Realty Consultant Practice)
- National code of ethics and responsibilities
- Real Estate Finance and Economics
- Land Management System and Real Property Laws
- P.D 957, B.P. 220, Family Code, Civil Code, Commercial Laws, National Internal Revenue Code, RESA 9646/IRR
- Condominium Law, Real Estate Investment Trust (REIT), Time Sharing, Cooperatives
Professional Consultancy Practice – 30%
- Consulting tools and techniques which include project feasibility study and investment measurement tools
- Real estate consulting and investment analysis
- Consulting for specific engagement, which includes consulting residential, commercial, industrial, recreation, and resort and hotel properties, and consulting for government and corporate and financial institutions
- Consulting for distressed properties
- Leasing and buying analysis of properties
- Business communication/Technical writing
- Environmental Impact Assessment (EIA) Study
- Current Events
- Cases Studies
Project Feasibility Study (PFS) – 20%
Defense/Revalida of the PFS – 20%
Real Estate Consultant Licensure Exam Schedule in 2021
The Real Estate Consultant Licensure Board Examinations are normally conducted at least once a year, according to the Professional Regulation Commission (PRC).
The timetable for all license exams can be found right here. This guide details when the applications for Real Estate Agent licensing exams are open and are specified in the calendar in the order in which they are due.
If you have any concerns or questions about the licensing exam, especially in light of the pandemic, you can continue to visit the Commission’s official website for the most current news and guidelines.