Property is a highly sought after commodity in the Philippines, one in which people are ready to invest large amounts of money. This, among other things, makes the real estate industry a lucrative business, filled with opportunities. This potential is what draws many into this field with some turning it into a full-time career by becoming a real estate agent/negotiator. However, there are certain criteria that need to be fulfilled and certain qualifications obtained in order to get the necessary license. In this article, we will tell you how you can become a licensed real estate agent in the Philippines.
First, we need to clarify one thing; while they are commonly referred to as real estate agents, in the Philippines the official term used is actually ‘Real Estate Salesperson.’ In order to make the real estate service industry more professional in the Philippines, the government had created the Republic Act No. 9646, also known as the Real Estate Service Act (RESA) in 2009. Under this law, the Professional Regulation Commission (PRC) regulates all professions in the real estate industry such as Real estate Brokers and Salespersons.
According to Section 31 of the RESA Law, in order to become a Licensed Real Estate Salesperson, you must complete a minimum of two years of college and have undergone training and seminars in real estate brokerage, as may be required by the Board.
No salesperson shall be entitled to receive or demand a fee, commission or compensation of any kind from any person, other than the duly licensed real estate broker who has direct control and supervision over him, for any service rendered or work done by such salesperson in any real estate transaction.
An important point to note is that a real estate salesperson must be under a licensed real estate broker in order to register with the PRC and sell real estate legally.
When applying for registration as a real estate salesperson the following documents need to be prepared and submitted by the applicant.
- Original and photocopy of NSO Birth Certificate/Certificate of Live Birth
- Original and photocopy of NSO Marriage Certificate/ Contract (for married females only)
- Original NBI Clearance (must be valid)
- Passport-size photos with complete nametag below, on white background
- Recent Community Tax Certificate (CTC) or “cedula”
- Duly-completed application form
- Transcript of Records (TOR) showing proof of educational attainment
- Notarised 12-hour – CPE certificate from an accredited service provider
- You will also need to put in the name and signature of the Broker you work under on the application form.
Once you have all the required documents ready you proceed to do the following at the PRC:
• Fill-up the application form together with the required documents for pre-evaluation to the Office of the Secretary, PRBs or of the Assistant Secretary, PRBs
• Proceed to the cashier for payment of fees P600.00
• Obtain a Customer Service Center for documentary stamp.
• Submit duly accomplished application form and requirements to the Office of the Assistant Secretary.
• You can now verify status of application at the PRC website.
We hope that this article has helped you better understand the steps it takes to become a real estate salesperson in the Philippines and that you are now ready to pursue the career of your dreams.
If you want to know more about real estate professionals and real estate in general then send a message to hello@iqiglobal.com or call us at 012-299-6155 or 037-450-6655.
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