“Numerous Filipinos may experience individuals who present themselves as a real estate salesperson. Despite the fact that these experts are not authorized by the PRC, they are certify to work under an authorized land agent. The salesperson usually performs the day-to-day task of a real estate transaction (such as property viewings); on the other hand, they are not permitted to sign any authoritative reports related to the transaction.”
What credentials and qualifications does a person need in order to become a licensed real estate broker in the Philippines?
As home-buying is a life-long dream for many people—not to mention it involves a considerable amount of money—many home-buyers are hesitant to transact with just anybody. This is exactly the reason the government ensures that the real estate profession is well regulated and that the people who introduce themselves as real estate brokers are licensed (similar to architects, lawyers, doctors, and engineers, among others). This is the primary objective of the Real Estate Service Act of the Philippines, more commonly known as the “RESA Law”.
So how does one become a real estate broker in the Philippines? First, we must define the responsibilities of a real estate broker.
A real estate broker is most likely the professional a home-buyer will transact with they decide to buy a property. He or she is registered and licensed by the Professional Regulation Commission (PRC) to facilitate the sale, exchange, or lease of a piece of real estate, be it a house, a condominium unit, an industrial lot, or a commercial space. A broker’s main task is to act as an agent of either the buyer or the seller in a real estate transaction. Hence, good negotiating skills are necessary. It is also important to note that a real estate broker must work in their client’s best interest, so being a “double agent” (i.e., working on behalf of both the seller and the buyer) is considered unethical.