RESAR | Filed under: Real Estate Review
You’ve probably heard about the RESA Law, and how responsibility over the Philippine real estate brokers licensure examination has been transferred from the DTI to the PRC.
RESAR | Filed under: Real Estate Brokers' Exam
We are still waiting for the PRC to disseminate the Implementing Rules and Regulations in connection with the RESA Law.
No wonder there doesn’t seem to be anyone offering any real estate brokers’ licensure exam review classes or seminars. No one knows what the official list of test topics will be, or who are qualified to teach, or when the real estate exams will be held.
As soon as we get more info, we’ll post it here. Thanks!
RESAR | Filed under: Real Estate Brokers' Exam
If you’ve seen some webpages that talk about the October 2009 real estate broker’s licensure exam results, please don’t believe those. Perhaps those are just automated blog postings that were programmed months ago, but the blogger did not switch it off. And that’s why you are seeing those previously anticipated blog posts.
[Please also see Real Estate Service Act of the Philippines (RESA) Signed Into Law, Real Estate Brokers’ Licensure Exam Postponed over at ForeclosurePhilippines.com]
I asked professionals in the Philippine real estate industry, including previously DTI-accredited service providers who conducted comprehensive real estate seminar and review classes, and they said that there were no real estate brokers’ exams conducted by the PRC last October 4, 2009.
(Thank you to the reliable and highly responsive team behind the Cesar E. Santos Real Estate Academy, for patiently answering our questions regarding real estate brokers’ exams.)
We are still waiting for the implementing guidelines of the PRC. In the meantime, there are no accredited groups handling real estate review classes.
But if you know of any, please let us know by posting a comment below. Thanks!
[Too bad I missed the Second Symposium about the RESA Law (RA 9646), which was held last 03 September 2009. According to Realtor Nancy Tia, however, you can order a CD containing a recording of the speakers.]
People are asking about CEP or CRESR Seminars. Well, things are sort of in limbo right now.
If you read RESA Law Takes Effect July 30, 2009, you will see that the “DTI will no longer accept applications for license, whether original or renewal upon effectivity.”
Thanks to Republic Act No. 9646 otherwise known as the “Real Estate Service Act of the Philippines” or RESA, we now have to wait until January 2010 for the IRR (Implementing Rules and Regulation) of the PRC (as posted by Rommel Dominguez in the comments area of DTI transfers regulation of real estate practice to PRC).
There was a Symposium on RESA Law last August 7, but perhaps we can get in touch with the RBR Secretariat at (02)719-0736 look for Nancy or Gigi (401-3836) or Arnold (357-1513) to find out when they will organize another symposium.
Also found this:
BUREAU CIRCULAR NO. 09-01
Series of 2009SUBJECT: Effect of R.A. No. 9646 or RESA on Comprehensive Real Estate Seminars and Review and Continuing Education Programs Pursuant to Ministry Order No. 39, Series of 1985, as Amended
This refers to approved and pending applications for accreditation of Comprehensive Real Estate Seminars and Review (CRESR) and Continuing Education Program (CEP) in connection with the impending effectivity of the Real Estate Service Act of the Philippines (RESA). As the RESA or Republic Act No. 9646 was signed into law on 29 June by President Gloria Macapagal Arroyo and published in today’s issue of the Philippine Daily Inquirer, the same will be operative on 30 July 2009, fifteen days following its publication.
In this regard, particularly with the express repeal of the very law from which DTI draws its authority to regulate the real estate service practice i.e., Sections 3 (e) and (ee) of Act No. 2728, as amended, and consequently, its implementing rules and regulations (Ministry Order No. 39 series of 1985, as amended), its mandate to, among others, conduct examinations, accredit CEP and CRESR, and the processing of licenses for that matter will be automatically withdrawn and transferred to the Professional Regulation Commission (PRC) upon effectivity of RESA. Stated in another way, PRC will thenceforth take DTI’s place.
In view of the foregoing, it is categorically declared that accredited CRESR activities that had been and will be conducted henceforth may no longer serve the specific purpose for which it is carried out, i.e. as a prerequisite for taking licensure examination, given the fact that once RESA takes effect all DTI issuances, including accreditation of CRESR will be rendered nugatory. In its stead, guidelines that will be issued by PRC shall then apply.
In the same vein, accredited CEP activities will of no consequence once RESA is in force. As it is, its relevance extends only for the purpose of securing license with DTI before 30 July 2009.
While on the subject, your attention is drawn to DTI’s solitary role in the implementation of the Act as laid down in Section 41 of the RESA, i.e., the transfer of all pertinent documents and records to the PRC ninety (90) days from the effectivity thereof.
For the information and guidance of all concerned.
(SGD) Atty. PEDRO VICENTE C. MENDOZA
Director-in-Charge
Anyway, let’s stay tuned for other news and developments.
RESAR | Filed under: Real Estate Brokers' Exam
We’re still waiting for official announcements from the DTI and the PRC now that reports have been going around about the RESA Bill being signed into law.
Here is a section of the RESA Bill, based on documents found online:
SEC. 14. Qualification of Applicant for Examinations. – In order to be admitted to the licensure examination for real estate service, a candidate shall, at the time of filing his/her application, establish to the satisfaction of the Board that he/she possesses the following qualifications:
A. A citizen of the Philippines;
B. A holder of a relevant bachelor’s degree from a State university or college, or other educational institution duly recognized by the CHED; Provided, that as soon as a course leading to a Bachelor’s degree in Real Estate Service is implemented by the CHED, the Board shall make this course a requirement for taking the licensure examination;
C. Of good moral character, and must not have been convicted of any crime involving moral turpitude; Provided, that an applicant for the licensure examination for real estate consultants must show proof that he/she has at least ten (10) years experience as a licensed real estate broker or an assessor, or as a bank or institutional appraiser or an employed person performing real property valuation, or at least five (5) years experience as a licensed real estate appraiser.
All applications for examination shall be filed with the Board which shall assess and approve said applications and issue to the qualified examinees the corresponding permits to take such examination.
I wonder how long it will take for a curriculum for BS Real Estate Service to be developed. Also, what exactly are relevant courses?
RESAR | Filed under: Real Estate Brokers' Exam
Will there still be an October 2009 real estate brokers’ licensure exam in the Philippines? A lot of people have been talking about how PGMA has signed the RESA Bill, and how this effectively transfers jurisdiction over the real estate brokers’ exam from the DTI to the PRC.
But apparently, there has been no official announcement from the DTI…
RESAR | Filed under: Real Estate Review
The Urban Institute of Real Estate announces its schedule of Monday, Thursday, and Saturday sections as part of its Comprehensive Real Estate Seminars (CRES) series for those who are planning to take the real estate brokers’ licensure examinations which will be held in October 2009 (subject to verification).
RESAR | Filed under: Real Estate Brokers' Exam
Congratulations to the 1,070 successful examinees who passed the Real Estate Brokers Licensure Exam held last May 31, 2009 at the University of Makati, and in other places in the Philippines.
The Department of Trade and Industry (DTI), Bureau of Trade Regulation and Consumer Protection under Atty. Pedro Vicente C. Mendoza announces that 1,070 out of 1,944 equivalent to 55.04% passed the Real Estate Brokers Licensure Examination given by the Examination Committee for Real Estate Brokers in Manila, Baguio, Cagayan de Oro, Cebu and Davao last May 31, 2009.
The members of the Examination Committee for Real Estate Brokers who gave the licensure examination are Asst. Dir. Jaime Lasaro L. Olmos, CRB Manolito G. Nebre, Realtor Emmanuel H. Bocaling. Successful examinees should personally register and secure their license from the Department of Trade and Industry (DTI).
The oathtaking ceremony of the successful examinees in the said examination as well as the previous ones who have not taken their Oath of Profession will be held on Thursday, June 18, 2009 at 1:00 – 5:00 in the afternoon at the Centennial Hall, Manila Hotel, One Rizal Park, Manila.
For further details, you may call Ms. Westphalia Dimalanta of the Bureau of Trade Regulation and Consumer Protection (BTRCP) at telephone no. 751-0384 local 2228/2229.
Here’s the list of successful examinees…
RESAR | Filed under: Real Estate Review
When a realty developer or seller habitually engaged in the realty business sells property, one of the taxes that has to be paid to the BIR is the Creditable Withholding Tax (CWT). Here’s how to compute for it…
RESAR | Filed under: Real Estate Review
Here are the basic rules covering foreigners who want to own Philippine real estate.
RESAR | Filed under: Real Estate Review
Here are additional notes concerning the Capital Gains Tax (CGT), based on information that appears in BIR Form 1706.
RESAR | Filed under: Real Estate Review
Here is just a portion of the Local Government Code of the Philippines, specifically Title II of Book II (Local Taxation and Fiscal Matters). In some CRESR programs, the handouts will show only the sections which the reviewer recommends that the reviewee focus on. But if you’re curious about the entire Title II of Book II, then here it is…
RESAR | Filed under: Real Estate Seminar Tips
How do we handle National Taxation computational problems involving Creditable Withholding Tax, Documentary Stamp Tax, and Value-Added Tax (VAT)? What happens in sales transactions handled by VAT-registered realty developers?
RESAR | Filed under: Real Estate Review
Here’s a list of topics covered by some real estate review classes. Over time, I’ll organize the data in this site so that you’ll have a better flow of study.
Now on to the list of topics…
Read in the May 7, 2009 Philipine Star (House okays rent control bill) that a bill seeking to extend the Rent Control Law (which expired last December 31, 2008) was passed in the House of Representatives last Tuesday evening (May 5, 2009).
