In my previous Blog, I estimated that there are 15,437 Real Estate Service Practitioners (RESP) in the Philippines as of February 13, 2012. (To read this blog, please go to this URL). This of course, does not take into consideration the hundreds, if not thousands, of Salespersons who registered with the PRC to avail of the so called “Grandfather Clause” of the RA 9646, or the RESA Law.
The estimate enumerates the Professional Regulation Commission (PRC) and Professional Regulatory Board of Real Estate Service (PRB RES) approved RESPs and also assumes that all of them has already applied with the PRC for licensing. In reality, of course, some still may not have applied for a license at the PRC for whatever personal reasons.
Now once again, the “tribe” of RESPs has increased – with the addition of new Appraisers, Assessors and Brokers.
First in the line, is the newly minted Resolution No. 05 Series of 2012 dated Feb 29, 2012 with the new Appraisers totaling 408 in all. Second, just very recently on March 8, 2012, PRC and PRB RES again approved the new crop of RESPs as follows: Resolution No. 06 Series of 2012 for 181 Real Estate Brokers, and then followed by Resolution No. 07 Series of 2012 for 12 new Appraisers/ Assessors.
So what’s the updated tally?
Real Estate Consultants (REC) are still 69 nationwide (that magic number, lol!), while Real Estate Appraisers (REA) is now 3,160, and the Real Estate Brokers (REB) is steadily rising at 12,809.
The total number of RESP in the Philippines now (as of March 23, 2012) – and at any moment the result of the exam for Real Estate Brokers last week will be released by the way – is 16,038 more or less, (or in terms of percentages, the Consultants is still less than 1% at 0.43%, the REAs at 19 %, and the REBs, which naturally forms the overwhelming majority is at 80.57%).
Some Real Estate Brokers likes to christen their Salespersons on their firms as ” Real Property Consultants” or something to that effect. I humbly suggest that it will be confusing to the public, and is a misrepresentation of our RE Consultants, as well as it would cheapen the stature of the Real Estate Consultants in our industry. The Real Estate Consultant in the Philippines by the way – in order to qualify for the 2 days examination (including a revalida of a previously submitted Feasibilty Study) – must have notched at least a solid 10 years experience as a broker, or 5 years experience as an Appraiser.
Obviously, this needs a vast knowledge and skill in all fields of realty service, real estate finance, law, mathematics, and economics – to say the least (by the way, a revalida is an oral, face to face, defense of your feasibility study in front of the Board, or PRB RES – which scrutinizes your market, technical, financial and other aspects of your feasibility study).
(P.S.: Our group the Center for Real Estate Education Knowledge and Skills, Inc. based in Cagayan De Oro City is planning to offer a review for REC this year. We are in the process of organizing the review and getting the necessary permits from the PRC and PRB RES. The CREEKS, Inc. boasts an array of experienced brokers, real estate appraisers, real estate consultants, CPA, lawyers, engineers, environmental planners – which we can even augment more as may be necessary – thus ensuring a rich and truly challenging review for the aspirants.
We also have our board exam top notchers within the teaching staff with us – for REC No. 1,2 and 3 in the Board Exam ; for REA within the top ten; and for REBs No. 1.
For those interested to review with us, please contact us this early for your reservation – as we will be definitely limiting the slot of reviewees to a manageable number.)
The service of the RECs in the Philippines is very different from that of a Broker or Salesperson, or even Appraiser / Valuer as it involves consultancy services in feasibility studies, HABU analysis, distressed property consulting, market analysis, development planning, and other such things – which is far from selling properties.
To name our Salespersons as “Real Property Consultants” even just as a marketing ploy is in my opinion not advisable.
To the new Appraisers, Assessors, and Real Estate Brokers, cheers!