I. Introduction
The real estate industry in the Philippines is an important sector for the country’s economy and plays a significant role in providing affordable housing solutions for its citizens. The industry encompasses a range of professions, each with their own specific roles and responsibilities. In this article, we will focus and explore one of the key positions in the Philippine real estate industry: the real estate salesperson.
One common misunderstanding in the industry is the difference between a “licensed real estate salesperson” and an “accredited real estate salesperson.” While both terms may sound similar, they refer to distinct professions in the Philippines with different requirements and responsibilities. In this article, we will explain the differences between these two terms and provide an overview of the real estate salesperson profession in the Philippines.
II. How to become an Accredited Real Estate Salesperson in the Philippines
A. Requirements to become an accredited real estate salesperson
Before starting the process of becoming an accredited real estate salesperson in the Philippines, it is important to understand the requirements. The following are the basic eligibility criteria:
- Must be a Filipino citizen
- Must be at least 18 years old
- Must have completed a minimum educational attainment of 2 years or 72 units of college education.
- Must have Character: You must have a good moral character, as evidenced by clearance from the National Bureau of Investigation (NBI).
- Must take a twelve (12) unit “Introduction to Real Estate Salesperson” course from an accredited Continuing Professional Development course provider who will issue you a “Certificate of Completion” after the two (2) and a half day class covering Introduction to Real Estate Law and Ethics, Real Estate Sales, and Real Estate Economics.
- Must have a Duly PRC Licensed Real Estate Broker accept you as his/her Real Estate Salesperson under their Real Estate License/Realty.
B. Steps to become an accredited real estate salesperson
Once you have met the eligibility requirements, you can begin the process of becoming an accredited real estate salesperson by following these steps:
- Visit the PRC website and download the form for the Real Estate Salesperson. (click here to be directed to the Real Estate Sales Person’s application form) http://www.prc.gov.ph
- Print and fill out the application form. You will need to attach a 1.5 inch x 1.5 inch ID picture along with a document stamp.
- Once the application has been completed you will need to submit the corresponding documents to your local PRC office.
Submit the required documents to PRC for accreditation
- All the forms will need to be notarized and presented with a photocopy of each document.
- You will need to submit the forms to your local PRC office and wait for your real estate salesperson’s ID to be printed and issued to you.
- You must keep your real estate salesperson ID with you while you’re practicing in the real estate industry.
III. Validity of a Real Estate Salesperson License
A. Explanation of the length of time a real estate salesperson license is valid
Becoming an accredited real estate salesperson in the Philippines requires the accreditation of the Real Estate Salesperson through the PRC by meeting the eligibility criteria set by the commission. Once a salesperson has been accredited, their accreditation is valid for a period of one (1) year from the date of issuance. After the expiration of the license, the salesperson must renew it in order to continue practicing in the real estate industry.
B. Importance of renewing the license and maintaining professional development
Renewing the license and maintaining professional development is essential for salespersons to provide quality service to their clients and uphold ethical standards in the industry. A valid accreditation demonstrates that the salesperson is up-to-date with the latest developments and changes in the industry, including laws, regulations, and best practices. This can build trust and credibility with clients, as they know that the salesperson is knowledgeable and committed to providing quality service.
In addition to renewing the license, salespersons are required to participate in continuing professional development (CPD) programs in order to renew their accreditation. These programs offer opportunities for salespersons to improve their knowledge and skills, learn about new trends and innovations in the industry, and network with other professionals. Some real estate practitioners are able to stand above the rest through this aspect of continuous education.These premier agents are the cream of the crop and smart real estate investors see the value they have to offer and thus are the highest performers in the real estate industry.
Maintaining a valid PRC Real Estate Accreditation ID and participating in CPD programs demonstrate a commitment to the real estate industry and a dedication to providing quality service to clients. It also helps salespersons stay competitive and relevant in an ever-evolving industry.
IV. PRC in Real Estate
A. Explanation of PRC in the real estate industry
PRC stands for the Philippine Regulatory Commission. It is a government agency responsible for regulating various professions in the Philippines, including real estate salespersons. PRC is tasked with the administration of licensure exams, the issuance of professional licenses, and the regulation of the practice of real estate services in the country.
B. Role of PRC in regulating real estate salespersons
PRC plays a crucial role in regulating the real estate industry and ensuring that real estate practitioners are qualified and competent to provide quality service to clients. By administering licensure exams, PRC ensures that professionals have the necessary knowledge and skills to practice in their respective industry. The commission also monitors the practice of real estate services and enforces ethical standards among salespersons to protect the interests of clients.
C. Benefits of being accredited by PRC
Being accredited by PRC has numerous benefits for real estate salespersons. Firstly, it is a requirement for practicing in the industry. Secondly, having a valid accreditation demonstrates to clients that the salesperson is qualified, knowledgeable, and committed to providing quality service. Finally, being accredited by PRC provides access to a range of professional development programs and opportunities, which can help salespersons stay competitive and relevant in the industry.
V. The difference of being a Real Estate Broker and Requirements
A. Explanation of the requirements for becoming a real estate broker in the Philippines
Becoming a real estate broker in the Philippines requires meeting certain eligibility criteria and obtaining a Board License from the Philippine Regulatory Commission (PRC). The following are the requirements for becoming a real estate broker in the Philippines:
- Must be a Filipino Citizen.
- Educational Background: You must have a Bachelor’s Degree in Real Estate Management (REM), a four year course covering subjects that are very specific to the Real Estate Industry.
- Must have Character: You must have a good moral character, as evidenced by clearance from the National Bureau of Investigation (NBI).
- Philippine Real Estate Service Exam (PRES): You must pass the PRES, which is a licensure exam administered by PRC for Professionals like a Real Estate Broker.
- Continuing Professional Development (CPD) Units: You must complete the required number of CPD units to maintain your Real Estate Broker’s License.
B. The difference between a Real Estate Sales Person and a Real Estate Broker
In the real estate industry, a salesperson and a broker are two different positions with different roles and responsibilities. A real estate salesperson works under the supervision of a licensed broker and assists in the sale, purchase, or rental of real estate properties. On the other hand, a real estate broker is licensed to operate their own real estate business and can hire up to 20 salespersons to work for them.
A broker has more responsibilities than a salesperson, including managing their own real estate business, handling transactions, and providing training and guidance to salespersons. In addition, a broker must pass a high level licensing exam administered by the PRC and complete more continuing education courses compared to a salesperson.
In summary, the main difference between a real estate salesperson and a real estate broker is the level of responsibility and the scope of their work. A salesperson works under a broker and helps with the sale, purchase, or rental of properties, while a broker operates their own business and manages transactions and salespersons.
VI. Selling Real Estate without a License
A. Explanation of the legal implications of selling real estate without a license
Selling real estate without a license or accreditation in the Philippines is illegal and can result in serious consequences. The Philippine Regulatory Commission (PRC) strictly enforces the requirement for real estate salespersons to be accredited before practicing in the industry. Operating without a license can lead to fines, legal penalties, and the possibility of being banned from practicing real estate or even serve jail time.
B. Reasons why it’s important to have a license or accreditation
Having a license or accreditation as a real estate salesperson in the Philippines ensures that you are operating within the law and are recognized as a professional in the industry. It also shows potential clients that you have a per-requisite necessary knowledge and training to effectively serve their real estate needs. Additionally, being licensed or accredited can provide you with greater credibility as a selling agent, as well as access to resources and support from professional organizations. By obtaining a license or accreditation, you can demonstrate your commitment to the real estate industry and your clients.
VII. Conclusion
A. Summary of the key points discussed in the article
In this article, we have discussed the real estate industry in the Philippines and the various roles and responsibilities of Real Estate Salespeople and Real Estate Brokers in the industry. We also covered the difference between a “licensed real estate salesperson” and an “accredited real estate salesperson” and the process of becoming an accredited real estate salesperson in the Philippines. The validity of a real estate salesperson license, the role of PRC in regulating real estate salespersons, the difference between a real estate salesperson and a real estate broker, and the legal implications of selling real estate without a license were also discussed.
B. Emphasis on the importance of obtaining accreditation as a real estate salesperson in the Philippines
It is important for individuals who wish to work in the real estate industry in the Philippines to obtain accreditation as a real estate salesperson. This ensures that they are operating within the law and are recognized as a professional in the industry. Obtaining accreditation also provides individuals with greater credibility and access to resources and support from professional organizations.
C. Final thoughts and recommendations
In conclusion, obtaining accreditation as a real estate salesperson or a board license as a real estate broker in the Philippines is a crucial step for those who wish to pursue a career in the real estate industry. By following the requirements and procedures outlined by the PRC, individuals can ensure that they are operating within the law and are recognized as professionals in the industry. It is recommended that individuals stay up-to-date with the latest developments in the real estate industry and maintain their professional development by continuing their education and training.
