BS REM stands for Bachelor of Science in Real Estate Management, a four-year baccalaureate degree approved by CHED, which aims to prepare the graduates of this course for a career in the field of Real Estate Management, whether in the practice of salesmanship, brokerage, appraisal and consultancy, including the local government practice of assessors and appraisers.
The course conforms with the required general education courses, establishes the foundations for real estate management, includes business management theories and applications, and focuses on the three (3) major fields of real estate service management, which includes, brokerage, appraisal and consultancy.
On September 28, 2011, CHED released Memorandum Order (MO) 28, authorizing all interested tertiary education institutions to operate and include the program in their course offerings, subject to existing application procedures, policies, standards and guidelines. Beginning Academic Year 2012-2013, approved schools may already offer BS REM.
The law gave way to the creation of a Professional Regulatory Board of Real Estate Service, or PRBRES, under the supervision and administrative control of the Professional Regulation Commission (PRC). The Board has the powers to provide comprehensive policy and guidelines to the practitioners, conduct licensure examinations, issue, suspend, revoke or reinstate licenses, investigate and enforce penalties to those violating the provisions of the law.
To become a real estate broker, appraiser or consultant, one must first take their respective licensure examinations under PRC.
To qualify for the examination, one must be:
■ A Filipino citizen ■ A college graduate of ANY baccalaureate degree (4-year course); ■ Has finished one hundred twenty (120) hours of comprehensive real estate seminar from an accredited service provider; ■ Of good moral character, and has not been convicted of any crime involving moral turpitude;
No actual work experience is required. However, as soon as a course leading to Bachelor’s degree in Real Estate Service is implemented by the Commission on Higher Education (CHED), PRBRES shall make such course the requirement in taking the licensure examination.
RA 9646, or the Real Estate Service Act of 2009, or more commonly known as RESA Law professionalizes and regulates the practice of real estate in the Philippines. The law aims “to develop through proper and effective regulation and supervision a corps of technically competent, responsible and respected professional real estate services practitioners, whose standards of practice and service shall be globally competitive and will promote the growth of the real estate industry.”
It's a common question to ask if an aspiring broker / appraiser can really secure a license without examination. How does this option work? It basically saves up 1) college undergrads 2) dti passers and 3) those with expired license. If you wish to get registered and practice the profession but you didn't get the chance to finish college, or you weren't able to renew license on schedule imposed by the PRC, or you wish to come back in the business but your license was DTI issued, simply take a minimum number of CPE units required in the RESA law.
As stated by the law, here are the number of units needed. ■ DTI passer but did not register 2009 passer - 15hrs 2008 passer - 15hrs 2007 passer - 18hrs 2006 passer - 120 hrs 2000 passer - 120 hrs 1995 passer - 120 hrs ■ Expired license - 24 hrs ■ w/ current license upon effectivity of the 2009 law - 15hrs