12 Things You Should Know About REBLEX 2015

Real estate in the Philippines is lauded to be at a profitable stage. Many developers are raising projects left and right, but experts and research firms have recorded that the market bubble or saturation point, is far yet from sight.

According to insiders, it’s an ideal time to work in the industry and working as a broker is one way to go about it. But before putting up an office, one must first procure a license from the state. By Philippine law, R.A. 9646 or also known as the RESA Law, brokers must possess a license to practice. To acquire this license, one must qualify to take the written licensure exam held annually by the Professional Regulation Commission (PRC).

Here are the 12 things you should know about REBLEX 2015: 

1. Deadline of filing for applications is May 4, 2015.

2. Date of exam is on May 24, 2015.

3. The exams will be held simultaneously in Manila, Baguio, Cagayan de Oro, Cebu, Davao, Iloilo, Legaspi and Lucena.

4. Target date of the release of exam results is on May 29, 2015.

5. Your school/building assignment will be posted at the PRC premises two to three working days before the examination.

6. Report to the school building assignment before 6:30 a.m. on the first day of examination to verify your room and seat number. Be punctual as late examinees will not be admitted. Examination fee of ABSENT examinees will be forfeited.

7. Examinees are required to wear the following attire every examination day:

a. Male Examinees – White polo shirts or t-shirts with collar, tucked-in
b. Female Examinees-White blouses or t-shirts with collar

8. Bring the following on examination day:

a. Notice of Admission
b. Official Receipt
c. One (1) piece metered-stamped Window Mailing Envelope
d. Two or more pencils (No.2)
e. Ballpen with BLACK INK ONLY
f. One (1) piece Long Brown Envelope
g. One (1) piece Long Transparent (non-colored) Plastic Envelope (for keeping your valuables and other allowed items)

9. The following are prohibited inside the examination premises:

a. Programmable calculators
b. Cellular phones, beepers, computer laptops or similar gadgets/devices
c. Bags of any kind (ladies bag, shoulder bags, attaché case, backpacks, etc.)

10. Focus on the subjects which carry a greater weight. Below is the exam’s coverage.

      a. General/Fundamentals

10. 10. • Fundamentals of property ownership
        • Code of Ethics and Responsibilities
        • Legal Requirements for Real Estate Service (R.A 9646/IRR)
        • Real Estate Laws and Taxation (Agri Law, CARPER, R.A. No. 7160/8424, etc)

b. Special and Technical Knowledge

10. 10. • Subdivision Development (incl., P.D. 957, B.P. 220, P.D. 7279, etc.)
        • Condominium Concept and other types of real estate holding
        • Legal Aspect of Sale, Mortgage, and Lease
        • Documentation and Registration

c. Professional Practice

• • • Real Estate Brokerage Practice
    • Real Estate Finance and Economics
    • Urban and Land Use
    • Planning, Development, and Zoning
    • Basic Principles of Ecology
    • Basic Appraisal for Real Estate Brokers

11. Since 2011, the Real Estate Brokers’ Exam has been administered by the (PRC) and thus a Real Estate Broker is a full-fledged professional on the same level as Certified Public Accountants (CPA’s), doctors, etc.

12. Although there is no formal announcement yet from the authorities, the May 24, 2015 exam might be the last for those who do not hold a Bachelor’s Degree in Real Estate Service since there will be graduates of the said course by next year, 2016. The Commission on Higher Education (CHED) issued in 2011 a Memorandum Order providing for the policies and guidelines for the Bachelor of Science in Real Estate Management (B.S. REM) course.

There are a number of accredited real estate broker examination training centers in the Philippines that can help you cover a lot of ground in preparation for the test. In the end, all your efforts will be well rewarded by a fun and exciting career and if you continue your effort in studying, not only from books but also from mentors, it is likely that you will be able to achieve success at a faster rate. Good luck in becoming part of the next batch of PRC licensed real estate brokers.

Are you all set to take the 2015 REBLEX? Download our free real estate broker licensure exam reviewer here!