Because of the appreciation in the value of a property this 2022 and the continual development of land, residences, other properties, and condo for sale Philippines, the Philippine real estate industry are worth getting into. Along with having decent communication skills and real estate sales know-how, having the keen curiosity to figure out how to be a real estate agent is one of the many routes you can take to get into the Philippine real estate industry. If this is the route you’re going for, then this blog is for you.
What Is a Real Estate Agent?
Real estate agents are typically the first kind of profession to come to mind when thinking about the real estate industry and real estate companies. They are the persons who are “licensed to help people buy, sell, and rent real estate.” Also called a real estate salesperson or a real estate associate, real estate agents are similar in capability to a real estate broker in the sense that they can advertise real estate property to potential buyers for property owners, assist real estate sale processing, and represent either the buyer or seller of the property.
Commercial vs. Residential Real Estate Agents
There are usually two kinds of real estate professionals. The first kind is a commercial real estate agent, which are agents that are involved in the selling of “hotels, office spaces, and retail spaces, primarily to businesses.” An understanding of finance is needed for these kinds of agents, which concerns concepts regarding rates of return and related data analytics. The second kind of agent is a residential real estate agent, which are agents that focus on selling residential properties like foreclosed properties, luxury housing, and condo for sale Philippines.
How to Become a Real Estate Agent in the Philippines?
The Real Estate Service Act of the Philippines (i.e., Republic Act 9646) states that real estate agents or salespeople are “duly accredited natural person who performs service for, and on behalf, of a real estate broker who is registered and licensed by the Professional Regulatory Board of Real Estate Service for or in expectation of a share in the commission, professional fee, compensation or other valuable consideration.”
The Real Estate Service Act of the Philippines expounds that a qualifying examination from the Professional Regulation Commission (PRC) is not part of the requirements of becoming a real estate agent. Instead, the real estate agent must comply with the requirements set by the Professional Regulatory Board of Real Estate Service in order to practice as a real estate agent in the Philippines and sell your first condo for sale Philippines.
Here is an infographic explaining how to become a real estate agent in the Philippines:
The Requirements For Becoming an Accredited Real Estate Agent in the PH
In order to become an accredited real estate agent in the Philippines, there are a number of qualifications that you must fulfill, such as the following:
- You must be a Filipino citizen.
- You have completed at least two (2) years or 72 units of tertiary education or college.
- You must “not have been convicted with any crime involving moral turpitude;” and have good moral character.
- You have completed a real estate brokerage seminar/s and training equivalent to twelve (12) credit units from an accredited real estate brokerage training provider.
If you fulfill the qualifications, then the next step is to comply with the requirements for accreditation from the Professional Regulatory Board of Real Estate Service. The requirements for a real estate license include the following documents:
- Both the original and photocopy of NSO Birth Certificate.
- Both the original and photocopy of NSO Marriage Certificate (applicable to married females only).
- Original document of NBI Clearance.
- Original and notarized Certificate of Educational Attainment (on the completion of at least (2) years of tertiary education or college).
- Original and notarized Certification of the twelve (12) credit units of training/seminars from an accredited real estate brokerage training provider.
- Photocopy of your supervising Real Estate Broker’s PRC License with 3 signatures (the supervising Real Estate Broker’s PRC license’s validity must not be less than 6 months upon accreditation application/renewal of the real estate agent).
- Original and photocopy of Community Tax Certificate/Cedula
- Passport-size photo of yourself with a white background; a name tag must be below your picture showing your complete name.
- A government-issued ID.
- Accomplished application form for real estate agent accreditation.
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Once you have the required documents, you can now proceed with filing your accreditation as a real estate agent. Here are steps on how to file your accreditation application to guide you:
- “Accomplish the application form, and submit it together with the required documents to the Application Division (located on the 4th Floor Annex Building) at the PRC Central Office and Regional Offices processing counters for pre-evaluation.”
- “Proceed to the Legal Division (located on the 2nd Floor of the Main Building) for notarization.”
- “Proceed to the cashier (located on the Ground Floor, Main Building) and pay the payment fee of Php450.00 at the Central Office or Cashier’s Window at the Regional Offices.”
- “Submit your accomplished application form and required documents to the Application Division (located on the 4th Floor Annex Building) or designated counter at the Regional Offices.”
- Once you’re done, you can visit the PRC website to verify the status of your application.
You Cannot Practice as a Real Estate Agent if You Are Not Accredited.
It is important to know that you need to be first accredited by the Professional Regulatory Board of Real Estate Service before you can practice as a real estate agent. A person who practices as a real estate agent but has not been accredited is illegal, “with fines ranging from Php100,000 to Php 200,000 and/or imprisonment of two (2) to four (4) years.”
Some Benefits of Being a Real Estate Agent
1. Client Referrals and Networking
Becoming a real estate agent requires a lot of socialization and communication with professionals and clients in the field. Depending on how commendable your services are, like how you sell a condo for sale Philippines, you can be recommended by previous clients to their friends and relatives, growing the network that you have.
2. Convenient Accreditation Process
As long as you fulfill the minimum units/hours of college education and training from an accredited real estate brokerage training provider, you can become an accredited real estate agent. Therefore, it will not matter if you did not finish college or not – just fulfill the requirements for accreditation, and you will be able to sell a condo for sale Philippines as an accredited real estate agent. Now, there are also schools that offer a bachelor’s degree in Real Estate Management and other degrees related to being real estate brokers.
3. Growth In the Profession
As an accredited real estate agent, you will be able to grow your own network, and this will be dependent on how much work you put into your profession. You will be able to hone your communication and socialization skills the more you get into selling properties and handling clients. Furthermore, you can go from being a real estate agent to becoming a licensed real estate broker, wherein you will have to take a licensure examination from the PRC.
If you think that becoming an accredited real estate agent in the Philippines is for you, then go after it!
Read More: Should You Consult With a Real Estate Consultant?
