What to Expect in 2023 Real Estate Licensure Exam

The real estate sector has always been regarded highly for its sense of resilience in the event of a downturn in the market. And as property values appreciate significantly over time, it is a legitimately lucrative venture for investment enthusiasts to take advantage of. Lumina Homes is one of the prime real estate brands in the country providing an affordable house and lot for sale for residential home hunters.

Moreover, there is a growing number of people who take an interest in building a career in the real estate industry. By January 2023, the licensure examination for aspiring real estate professionals will commence. This article will give you a primer on what to expect in the real estate licensure exams and other information that you must be aware of.

Schedule of Real Estate Licensure Exams in 2023

For starters, the licensure examination for aspirants is organized and administered by the Professional Regulatory Board for Real Estate Practice (PRBREP) under the Professional Regulation Commission (PRC). As stipulated in the Real Estate Service Act or the RESA law, aspiring real estate industry practitioners, which are not limited to brokers, agents, consultants, and appraisers, are mandated to take the licensure exam to be deemed licensed professionals in the industry. 

Below are the dates for the scheduled examination for aspiring real estate practitioners. This is unofficial, and dates will be updated as necessary once the schedule dates for the licensure exams are finalized and released by the PRC.

For Real Estate Consultants (Revalida)

• Dates of examination: January 17-21, February 7-11, 14-18, 21-25 
• Venue: National Capital Region (NCR)
• Target Date of Release of Exam Results: March 1

For Real Estate Brokers 

• Dates of examination: April 12
• Venue(s): NCR, Baguio, Legaspi, Iloilo, Tacloban, Cagayan de Oro, Cebu, and Davao 
• Opening of Online Processing: January 12
• Deadline for Filing Applications: March 14
• Target Date of Release of Exam Results: April 18

For Real Estate Appraisers

• Dates of examination: September 7
• Venue(s): NCR, Baguio, Legaspi, Iloilo, Tacloban, Cagayan de Oro, Cebu, and Davao
• Opening of Online Processing: June 7
• Deadline for Filing Applications: August 8
• Target Date of Release of Exam Results: September 12

For Real Estate Consultants (Written)

• Dates of examination: December 7
• Venue(s): NCR and Cebu 
• Opening of Online Processing: September 7
• Online Processing Deadline: November 7
• Target Date of Release of Exam Results: December 14

Subjects and Coverage for the Written Exam

The Real Estate Licensure Examination comprises a total of 13 real estate subjects that can be changed or altered by the Philippine Regulatory Commission as they deem fit. Below are just some of the key topics covered in the written examination that you can use to study as your reference.

The set of questions for the real estate consultant test will chiefly involve the following subject matters: 

Real Estate Consulting Fundamentals

1. Fundamentals of Consulting 
2. Standards and Ethics 
3. Real Estate Finance and Economics 
4. Land Management System and Real Property Laws 

Professional Consultancy Practice 

1. Consulting tools and techniques, inclusive of which is project feasibility study and investment measurement tools;
2. Real estate consulting and analyzing investments;
3. Consulting for specific engagement, including consulting commercial, residential, industrial, recreation, and resort and hotel properties, as well as consulting for corporate, government, and financial institutions;
4. Consulting for distressed properties;
5. Leasing and buying analysis of properties;
6. Business communication and/or technical writing 
7. Environmental Impact Assessment (EIA) Studies 
8. Current Events 
9. Case Studies

Meanwhile, the questions in the examination for real estate brokers have the objective of assessing your adequate knowledge in the subjects below.

General/Fundamentals 

1. Fundamentals of Property Ownership 
2. Code of Ethics and Responsibilities 
3. Legal Requirements for Real Estate Service (RA 9646/IRR) 
4. Real Estate Laws and Taxation (Agri Law, CARPER, RA No. 7160/8424, etc.) 

Technical and Special Knowledge 

1. Subdivision Development (incl., P.D. 957, B.P. 220, P.D. 7279) 
2. Condominium Concept and Other Types of Real Estate Holding 
3. The Legal Aspect of Sale, Mortgage, and Lease 
4. Documentation and Registration 

Professional Practice 

1. Real Estate Brokerage Practice 
2. Real Estate Finance and Economics 
3. Urban and Land Use 
4. Planning, Development, and Zoning 
5. Basic Principles of Ecology 
6. Basic Appraisal for Real Estate Brokers

For aspiring real estate appraisers, below are the core topics to take note of.

1. Fundamentals of Real Estate Principles and Practices 
2. Standards and Ethics 
3. Theories and Principles in Appraisal 
4. Human and Physical Geography 
5. Real Estate Finance and Economics 
6. Land Management System and Real Property Laws

Professional Appraisal Practice 

1. Methodology of Appraisal Approaches 
2. Valuation Procedures and Research 
3. Practical Appraisal Mathematics 
4. Report Writing on Appraisal
5. Appraisal of Machinery and Equipment 
6. Case Studies (which include Specialized Valuation)
7. Government Assessment Principles and/or Taxation (Application/Computation) 
8. Geographical Information System (Map Reading and Plotting) 
9. Current Events

List of Schools to Get a Diploma in Real Estate

To qualify, some of the requirements for the Real Estate Broker Board Examination include a Bachelor’s degree in Real Estate Management, alongside other necessary documents, and an entrance fee amounting to P900. 

In line with this, here are some of the schools from NCR, Luzon, Visayas, and Mindanao offering real estate courses for aspiring brokers. 

NCR

• Philippine Christian University – Manila
• Manila Business College – Manila
• Trinity University of Asia – Quezon City
• New Era University – Quezon City
• Lyceum of Alabang – Muntinlupa

Luzon

• St. Dominic College of Asia (Bacoor, Cavite)
• Emilio Aguinaldo College (Dasmariñas, Cavite)
• National College of Science and Technology (Dasmariñas, Cavite)
• Batangas Eastern Colleges (San Juan, Batangas)
• Angeles University Foundation (Angeles City, Pampanga)

Visayas

• University of Cebu (Cebu City)
• Southwestern University (Cebu City)
• Central Philippine University (Iloilo City)
• College of St. John – Roxas (Roxas City)

Mindanao

• University of Mindanao (Davao City)
• Saint Joseph Institute of Technology (Butuan City)
• Misamis University (Ozamiz City)

Obtain Your Professional License and Work with Lumina Homes

Over the past decade, Lumina has evolved from its humble beginning as a real estate brand providing a house and lot in the Philippines to becoming an award-winning housing developer and prime provider of affordable housing. This is huge thanks to Lumina Homes' clients, management, investors, homebuyers, and our pool of hardworking employees who helped up our real estate sales.

After obtaining your professional license, Lumina Homes welcomes you to apply to our job vacancies, whether you are an aspiring real estate agent, digital sales associate, and even as a social media influencer who will deliver the news of a real estate brand providing quality yet affordable house and lot for sale.

Lumina Homes guarantees satisfaction among its prospective homebuyers as we have established the company to be trusted by real estate experts, overseas Filipino workers (OFWs) who invested in real estate, and previous homebuyers who are now living comfortably in their respective Lumina Homes from over 50 key locations around the country.

Grow your career with us and earn fair compensation, a vast professional network, and ample opportunity of learning and gaining first-hand experience of how the ever-resilient industry works. Work with Lumina Homes, a Pag-IBIG Fund-awarded real estate company providing an affordable house and lot.