Be A Licensed Real Estate Broker

Do you want to be a licensed real estate broker in the Philippines? You will need to attend a comprehensive real estate seminar and review (CRESR).

The CRESR runs for 24 hours, and is required before you can take the Real Estate Brokers Licensure Examination in the Philippines, which is usually given in May and October.

Here is a sample breakdown of the 24-hour real estate seminar (including the number of hours per topic):

Day 1

Introduction to Real Estate (1)
Opportunities offered by Real Estate (1)
Licensing Rules and Regulations (1)
Real Estate Terminologies (1)
Principles of Real Estate Brokerage (1)
Real Estate Economics and Principles of Values (1)
Real Estate Taxation (Local & National) and Computation (2)

Day 2 (Laws & BIR Rulings on Real Estate)

HLURB Housing Rules and Regulation (1)
Subdivision Development (PD 957/BP 220), Joint Venture and CARP Urban & Rural Land Use, Planning & Development (1)
Site Location, Map Reading, Lot Plotting And How to Detect a Fake Title (1)
Real Estate Financing (1)
Condominium Concept (2)
Legal Aspect of Sales, Lease and Mortgages (2)

Day 3

Documentation and Registration (2)
Real Estate Mathematics and Problem Solving (2)
Fundamentals of Property Ownership (2)
Real Estate Appraisal and Computation (2)

Some CRESR seminars run for four days (6 hrs/day), while others run for six days (4 hrs/day). Some are held on weekdays, while others on weekends. Typical seminar cost is P3,500 (price subject to change without prior notice).

In the case of the Cesar E. Santos Real Estate Academy, here are the topics or real estate subjects:

I. Introduction to Real Estate
II. Ministry Order no. 39 Series of 1985 as amended
III. Code of Ethics for Brokers
IV. Fundamentals of Real Estate Brokerage
V. Authority to Sell w. Hold-over Clause (Form)
VI. Joint Venture
VII. Joint Venture Contract (Subdivision Development)
VIII. Joint Venture Tax Ruling
IX. Real Estate Taxation
X. National Taxation - Terminologies / CGT / DST/EVAT/Formula
XI. National Taxation - Estate Tax Computation
XII. National Taxation - Donor's Tax & Estate Tax Table Requirements
XIII. Laws on Taxation and BIR Rulings
XIV. Computation - Realty Tax, SEF Tax, Idle land tax
XV. Computation of Capital Gains Tax, Documentary Stamps Tax, Transfer Tax Registration
XVI. Computation - Amortization Schedule, Interest
XVII. Real Estate Documentation & Registration
XVIII. Computation of Expenses of Sale (BIR to Assessor's Office)
XIX. Registration Table : Register of Deeds
XX. Checklist of Requirements for Pag-Ibig Housing Loan
XXI. Real Estate Appraisal
XXII. Real Estate Economics
XXIII. Principles of Values
XXIV. Site Location and Map Reading
XXV. Tips before buying Real Estate/ How to detect Fake title
XXVI. HLURB, Real Estate laws, PD957,RA7279
XXVII. Batas Pambansa #220
XXVIII. RA 6652 (Maceda Law) & Notarial Notice (form)
XXIX. Notes on condominium concept (RA 4726)
XXX. HMDF Circular No. 89-B
XXXI. Guidelines on availment of additional Pag-Ibig housing loan
XXXII. Problem solving/ guide in computation / formula
XXXIII. Problem solving/ question and answer / previous exams
XXXIV. Legal forms
XXXV. Fundamentals of property ownership
XXXVI. Legal aspect: sales/ leases/ mortgages

DTI Requirements for May 31, 2009 Real Estate Brokers Licensure Examination

1. Original + photocopy of Proof of Education (Diploma or Transcript of Records)

Note: With at least 144 units in college, or 72 units in college + 4 yr. experience as licensed salesperson.

2. Three (3) recent identical copies of passport size pictures in plain white background with complete name tag.

3. One (1) piece long window envelop with mailing stamp.

4. Examination Fee of P250.00

5. Certificate of Attendance from Accredited Service Provider (CRESR:COMPREHENSIVE REAL ESTATE BROKER SEMINAR AND REVIEW)

6. Original + photocopy of current Community Tax Certificate.

So, if you want to become a licensed real estate broker in the Philippines, then become a realtor in 2009. I've heard some rumors that the 24-hour seminar requirement may be increased in the near future.

UPDATE: Real Estate Seminar and Review Online - distance learning helps you prepare for the Comprehensive Real Estate Seminar and Review. Go and pass the DTI's Real Estate Brokers' Licensure Examinations today!

[ First posted on 04/08/2009 by Manuel Viloria ]