It’s official: The 2nd PRC Real Estate Brokers Licensure Exam will be on March 18, 2012

The long wait is over, the Professional Regulation Commission or PRC has just released the official PRC Licensure Exam Schedules for 2012 at their website and it includes the licensure exam schedules for Real Estate Brokers, Real Estate Appraisers, and Real Estate Consultants.

Actually, I’ve been hearing a lot of “rumors” pertaining to the date for the next real estate brokers licensure exam since a few months back, from very reliable sources. However, no official announcements followed, which is why I referred to them as “rumors”. Because of this, I decided that I would rather wait and only post the official date of the Real Estate Brokers Exam for 2012 from the PRC.

Now it’s official and you may find the complete 2012 licensure exam schedules for real estate professionals below.

Schedule of Real Estate Brokers Licensure Exam for 2012

(I have also included the schedule for Real Estate Appraisers and Real Estate Consultants)

Source: PRC Website

With the release of the official date of the real estate brokers exam (and other real estate practitioners), I’m sure a lot of you out there will be asking the following questions, which I will try to answer as well below:

What are the real estate brokers licensure exam requirements?

To answer this question, let me quote Section 14 of the RESA Law IRR which is about the qualifications of applicants for examinations:

“SEC. 14. Qualification of Applicants for Examinations. In order to be admitted to the licensure examination for real estate service, a candidate at the time of filing his/her application, shall establish to the satisfaction of the Board that he/she possesses the following qualifications:

(a)  A citizen of the Philippines,

(b)  A holder of a relevant bachelor’s degree from a state university or college, or other educational institution duly recognized by the CHED; Provided, That he/she has completed at least one hundred twenty (120) credit units of real estate subjects and training from accredited service providers, as may be determined by the Board; Provided, further, That as soon as a course leading to a Bachelor’s degree in Real Estate Service is implemented by the CHED, the Board shall make this course a requirement for taking the licensure examination,

(c)  Is of good moral character, and must not have been convicted of any crime involving moral turpitude,

(d)  An applicant for the licensure examination for real estate consultants must show proof that he/she has at least ten (10) years experience as a licensed real estate broker, or an assessor, or as a bank, or institutional appraiser, or an employed person performing real property valuation, or at least five (5) years experience as a licensed real estate appraiser.

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What is the coverage of the Real Estate Brokers Exam?

According to Section 13 (c) of the RESA Law IRR, the coverage for the real estate brokers exam shall be as follows:

“(c) For real estate brokers

1. Fundamentals of property ownership;
2. Code of ethics and responsibilities;
3. Legal requirements for real estate service practice;
4. Real estate brokerage practice;
5. Subdivision development;
6. Condominium concept and other types of real estate holdings;
7. Real estate finance and economics;
8. Basic principles of ecology;
9. Urban and rural land use;
10. Planning, development and zoning;
11. Legal aspect of sale, mortgage and lease;
12. Documentation and registration;
13. Real property laws and taxation; and
14. Any other subjects as may be determined by the Board.

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Where can I review for the real estate brokers exam?

So where can you find those accredited service providers where you can get at least one hundred twenty (120) credit units of real estate subjects and training?

To help you out, I will be making another compilation of CRESAR/CRESAT/REBSAT (or whatever it really is called 🙂 ) schedules of accredited service providers similar to my previous compilation for the March 2011 Real Estate Brokers exam. I invite everyone out there to submit schedules of seminars you may know, along with other important details like seminar fees, exact address of venue, complete schedule, etc, by leaving a comment below.

*Update – The new compilation of CRES providers can be found here “Where can I review for the March 18, 2012 Real Estate Brokers Exam?”

How can I file my application for the real estate brokers exam?

Once you complete all your requirements, I suggest you file your real estate brokers exam application early. My wife created a step by step how-to on this which you can find in the article below. Although this was written for the past exam (March 2011), I believe this should still be applicable for the coming real estate brokers exam on March 18, 2012. Keep in mind that the deadline for the filing of applications is on February 27, 2012.

• How to file your PRC real estate brokers exam application (This article also contains a list of all the required documents for the filing of the exam applications)

Where will be the exact venues of the Real Estate Brokers Exam on March 18, 2012?

I expect the PRC to announce the final room assignments a few days before the exams similar to what they did in the past. For the March 27, 2011 exam, I believe they released the room assignments  5 days before the exam, and I also posted the room assignments here. Once this is released by the PRC for the coming exam on March 18, 2012, I will also post it here once again.

I highly suggest that you subscribe to e-mail alerts so that you will be notified once the final room assignments become available.

Lastly, good luck to all aspiring real estate brokers who will take the licensure exam on March 18, 2012!

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To our success and financial freedom!

Jay Castillo

Real Estate Investor
PRC Real Estate Broker License No. 3194
Blog: https://www.foreclosurephilippines.com
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Text by Jay Castillo and Cherry Castillo. Copyright © 2011 All rights reserved.

Full disclosure: Nothing to disclose.