Good news for those who would like to take the real estate brokers’ exam even without having a real estate management degree! PRBRES Chairman E. G. Ong has announced that there will be another real estate brokers’ exam in the first quarter of 2016, but only for those who took the May 24, 2015 exam but did not make it (around 5,150 people). This is one scenario which I have discussed in my previous post.
I personally heard PRBRES Chairman E. G. Ong talk about this exam in the 2nd National General Membership Meeting (NGMM) of the Real Estate Brokers Association of the Philippines (REBAP) last June 26, 2015. At that time, my understanding was that the PRBRES may give an exam but it was not yet sure.
In the oathtaking ceremonies of the new real estate brokers, however, it appears that E. G. Ong made a categorical announcement that there will be another exam. Fortunately, someone was able to take a video of it (video courtesy of youtube user Vocalista Sixto).
Video transcript follows:
And so the Board has decided, for those who did not make it in the May 24 examination, to give the flunkers a second chance. So with the permission of the Commission, we might give it (in) the first quarter of 2016. And that is to show that our industry and the real estate service profession is a very robust profession, that we want everybody to be on board. So that we can reap the glory, the success that our profession can give. It will always be good morning real estate to all…
Special 8-day review
In line with the said exam, so far I have only heard of one review school giving a special review – Urban Institute. Based on Engr. Cruz’ email, in the May 24, 2015 PRC exam, Urban’s highest passing rate by section is 74%, and they produced 11 topnotchers from Top 3 to Top 10.
I believe this is not a requirement since examinees all have the certificate for the 120-hour seminar already. However, since the examinees for the 1st quarter 2016 already did not make it in their first try, there may be some who wish to avail of this review to increase their chances of passing, or at the very least make them more confident on their second take.
Based on the RESA Law and IRR, the 1st quarter 2016 exam should be the last exam that would not require a real estate management degree.
Please note that I have not seen yet an official written announcement about this exam though. Some may be asking, what about those who did not pass in the earlier exams (2011-2014), are they also allowed to take the exam? And since they will be holding another exam, why not open it to everyone (even those who did not take the May 24, 2015 exam) and allow people to attend a 120-hour seminar? To those questions, I have no answer.
Anyway, for those interested, here are the details of the Special 8-day review to be conducted by Urban Institute:
8-DAY SPECIAL REVIEW with online FB Review until examination day in preparation for the next PRC real estate brokers licensure examination in 2016.
Section 1 – Ateneo-QC – Saturdays 8:00 AM to 12:00 PM.
September 19, October 3, 17, November 7, December 5, 12, January 9 & 16.
Section 2 – AIM-ACCM Makati – Sundays 1:30 to 6:00 PM
September 27, October 11, November 8, 22, December 6, January 3 and 17.
Section 3 – AIM-ACCM Makati – Regular Days 6:00 to 10:30 PM
September 15, October 13, November 24, December 1, 8 and 2 Tuesdays in January 2016
Other schedules and time slots may be offered later.
Covered topics are Documentation and registration and all Legal Aspects, Taxation, Finance & Economics with computations, Appraisal, Ecology and Environmental topics, CLUP, Zoning, HLURB Rules and Condominium and others.
Review Fee is P8,000.00 with 10% discount for early birds. Early birds are those fully paid 15 days before the start of the review.
For details, inquiries, and reservation, please email: firstname.lastname@example.org
If you know of other review schools who may be offering a similar review, please let us know in the comments so we can include them in our post.
With regard to the nitty-gritty exam details, we will announce once we get an official announcement. I suppose examinees need to pay another examination fee and file an application again with the PRC. I hope the PRC will just look for their names and not ask for the requirements which they have already previously submitted, for a more efficient process.
Good luck to all!