How to Become a Real Estate Broker in the Philippines
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The real estate workforce in the Philippines is one of the most successful industries in comparison to any other Asian country, according to the Business Philippine Registry website. The Philippines is located in the heart of Asia and consists of approximately four hours in flying time from major capitals of its region. Selling real estate in the Philippines can be a lucrative career for a savvy and knowledgeable real estate broker who desires to tap into this real estate market.
Complete the necessary credits to obtain a Real Estate Broker License. You must have 144 units (credits) of college education or obtain 72 units if you have already been a licensed real estate salesperson for four years. You will also need a report of rating for the Licensed Real Estate Broker examination, which is a simple report showing whether you passed or failed the exam and what your final score is.
Apply for a Real Estate Broker's License at the Department of Trade and Industry-National Capital Region. Fill out an application form with four 1x1 pictures. You will need clearance from the Regional Trial Court, National Bureau of Investigation or the City or Municipal Clerk of Court. Applicants must reside or hold office for one year to the date of application. You will need to show proof of education or 72 units (credits) with four years' experience as a licensed salesman. You will need a surety bond to protect you, the broker, against loss in case the terms of a contract are not filled and the broker’s company assumes liability for nonperformance (see Resources). New brokers must pay the necessary fees for a Department of Trade and Industry License, as well as for Housing and Land Use Regulatory Board registration fees (see Resources).
Apply for a business name at the Department of Trade and Industry. This is where you will register if your broker business is a single proprietorship to receive a certificate of registration for your business name. However, if your broker company is a partnership or a corporation, you will need to register at the Securities and Exchange Commission, and they will issue you a certificate of registration (see Resources).
Register at the Housing Land Use Regulatory Board to sell low-cost housing properties and condominium projects. To register, you need to download the application form from their website (see Resources). You will need a copy of the application form, 1 x 1 ID pictures, an updated Real Estate Broker Certificate, Surety Bond Proof of Education Attainment or the latest National Bureau of Investigation or Regional Trial Court clearance Cash Bond and the processing fee (see Resources).
Register at the National Association of Realtors. The National Association of Realtors has a huge database of educational tools to offer real estate professionals for advancement in the real estate industry, including educational programs and certifications and free marketing tools. Some educational certification programs include Certified Commercial Investment Member/CCIM, Certified Real Estate Brokerage Manager/CRB, Certified International Property Specialist/CIPS, and much more. These programs assist you in increasing your skills, proficiency and knowledge.
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