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Real estate brokers exam postponed… again?!

I received information from a very reliable source that the much anticipated real estate brokers exam and real estate appraisers exam which are to be under the PRC have been postponed. The real estate brokers exam schedule was apparently set for December 5, 2010, while the real estate appraisers exam follows on the next day, December 6, 2010. Please refer to a message below for more details.

Dear Rebap Team,

I just got confirmation from PRBRES Chairman EG Ong, that the Brokers and Appraisers Exams to be held on December 5 & 6 respectively, is hereby POSTPONED.

The new date of said examinations will be on FEBRUARY 5 & 6, 2011.

Pls inform your chapter members and committees concerned.

In the meantime, we wait for future announcements and guidelines from the board.

ONE with you,

EMILY QUEVEDO-DUTERTE
Certified Real Estate Broker
REBL No. 8836

NATIONAL PRESIDENT
Real Estate Brokers Association of the Philippines, Inc. (REBAP. Inc.)

Source: http://rebapmarikina.com

Although this message was posted in the official website of the Real Estate Brokers Association of the Philippines – Marikina River City Inc. (REBAP-MRCI) chapter, where I am a regular member, I also received a copy of the same message through e-mail as a member of REBAP. As I said, this came from a very reliable source, as it comes from CRB Emily Quevedo-Duterte, who is the National President of the Real Estate Brokers Association of the Philippines, Inc. (REBAP. Inc.).

Why was the real estate brokers exam postponed?

In 2009, the real estate brokers licensure exam scheduled for October 2009 was postponed when the RESA was signed into law. This time around, I can only assume that the brokers exam was postponed to give more time for those in charge of the exams (PRC in this case) to prepare, and also for those who plan to conduct Certified Real Estate Seminar and Review or CRESR’s to prepare and be able to fulfill the one hundred twenty (120) credit units of real estate subjects and training, which is one of the requirements for those who want to take the exams. I suppose this also helps give them ample time to become duly accredited service providers, and to actually have enough time to conduct the seminars.

Does 120 credit units translate to 120 hours?

During a recent regular meeting of REBAP-MRCI that I attended, a fellow member raised the concern that the 120 credit units might not necessarily translate to 120 hours. Actually, that was the first time that I thought about it that way, and his concern made sense. I remember back in college, 21 units is already considered as a full load for a whole semester. What if the 120 credit units of real estate subjects were treated the same? Imagine how many semesters in college it would take to finish 120 credit units? I just hope that those concerned can shed more light into this and help clarify the issue.

If in case it does translate to 120 hours, it would still require many months to complete such seminar. If a 24 unit CRESR normally took six weeks (at a rate of 1 meeting consisting of 4 hours per week) to complete prior to the RESA law, imagine how long it would take to finish 120 hours. Aside from the long amount of time it would take, imagine the cost for such seminars. Most people say that a 120 hour seminar would cost about Php20,000 pesos, and you still have to pass the exam to make sure your money does not go to waste.

More time for aspiring licensed real estate brokers

I suppose those who plan to take the real estate brokers exam would welcome this development as this would give them more time to attend the seminars prior to the exam, there would be more accredited service providers, and hopefully the competition would bring down their seminar fees, and lastly, aspiring brokers will have more time to review and actually pass the exam. I’m just glad I was able to take and pass the November 2007 Real Estate Brokers exam.

A reminder for real estate investors

If you are planning to take the real estate brokers exam because you plan to invest in real estate and think that being licensed is required, think again. In my opinion, being a licensed real estate broker is not required if you want to invest in real estate. As an investor, you are the owner, and you don’t need to be licensed to sell your own property. Let me quote Section 28-A of the RESA Law IRR:

SEC. 28. Exemptions from the Acts Constituting the Practice of Real Estate Service

The provisions of this R.A. No. 9646 and the IRR shall not apply to the following:

(A) Any person, natural or judicial, who shall directly perform by himself/herself the acts mentioned in Section 3 hereof with reference to his/her or its own property, except real estate developers who are regulated by and registered with the Housing ang Land Use Regulatory Board (HLURB) pursuant to law and other resolutions/regulations such as but not limited to Presidential Decree (PD) 957, as amended,and Batas Pambansa Blg. 220 and their Implementing Rules and Regulations;

xxx”

Need I say more?!

To our success and financial freedom!

Jay Castillo

Real Estate Investor

Real Estate Broker License #: 20056
Blog: https://www.foreclosurephilippines.com
Follow me in Twitter:http://twitter.com/jay_castillo
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Text by Jay Castillo and Cherry Castillo. Copyright © 2010 All rights reserved.

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About Jay Castillo
People encounter problems and make mistakes when buying foreclosed properties, and Jay wants to help people avoid those problems/ mistakes. Jay encountered a lot of those, which is why he started this blog in 2008 to serve as a guide where he shares lessons learned, and how to overcome challenges you may encounter when investing foreclosed properties in the Philippines … [Read more]
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Leave a Comment

19 thoughts on “Real estate brokers exam postponed… again?!”

  1. Real Estate Salespersons (Category 2 & 3)with less than the minimum two (2) years of college education have only up to Dec. 31, 2011(technically up to Dec 23 only) to complete their CPE/CPD requirements and apply for accreditation with the PRC.

    Application fee is P650.00. Accreditation ID processing takes about three weeks. Unlike the regular PRC IDs, this one is made of laminated security paper and costs P250.00. This is renewed annually and not every three years.

    There will definitely be no extension on the year-end deadline, according to PRBRES. So please spread this info to your friends falling under Cat.2&3.

    Reply
  2. I’m a Commerce Accounting graduate, have some experience as sales agent, and attended some seminars. Isn’t it enough to qualify me to brokers licensure exam. There are websites related to real estate laws practice and regulations, i can just self review and eagerness to pass the exam is good enough. I think I can make it. No to 120 golden hours and P20,000 fee!

    Reply
  3. Is the February 5/6 schedule of the exam confirmed?
    I called PRC 3x and was told all the time that there is still no schedule and no required review units.
    Tapos wala din daw requirement. Basta magbayad ka lang ng exam fee at mag test.
    Taga PRC ito, ha.
    Let me know naman kasi I really want to take the exam eh

    Reply
  4. just want to know if there’s a group who can sponsor a review seminar here at Cabanatuan City so agents like me can take the 120 credit units required to take the broker’s exam….i once tried attending the review sem at Club Filipino in greehills but was not able to complete it due to travel constraints…thanks…

    Reply
  5. I would like to inquire where i could apply for a review. There has been no mention in your posted mails here the review center(s) to earn the 120 units/hrs. I’m a resident here in Cavite. Is there a review center near Dasmarinas, Cavite. thank you for your answer?

    Reply
  6. Thank you sir Jay! This info is surely beneficial for us especially when we are planning to take the next exams. More Power Sir!

    Reply
  7. As stated on SEC 14, what are the courses are RELEVANT bachelors degree to qualify as an applicant for real estate broker examination?

    Thanks

    IRR 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,

    Reply
  8. Thanks for this great info about the licensing exam. I do hope they shed light on the 120 units requirement. Congrats on being one of the Terrific Trio too! More blessings to you! =)

    Reply
  9. Nice Info Jay!

    Ive heard nga that the exam was reschduled on Feb.

    More time to complete those grueling 120 units! 🙂

    Reply

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