Potential brokers advised: Join now-A A +A
Friday, July 4, 2014
A SHARP decline in the number of real estate practitioners will be expected in 2016 onwards as the Professional Regulation Commission will make the real estate broker licensure examination exclusive to graduates of Bachelor of Science in real estate management.
In response, Cebu’s brokers are calling on those interested to join the industry as early as now.
“In 2016, we will have the first set of graduates (of BS REM). Only those who took the four-year course can become brokers,” said Cebu Real Estate Board president Marilou R. Cañizares in a press conference for the Cebu Real Estate Expo in SM City Cebu last Tuesday.
But the Philippine Association of Real Estate Boards vice president for Visayas Richard Azares noted that although the growth in the number of real estate brokers will become minimal in two years’ time, the quality of brokers in the Philippines is also seen to improve.
Both officials encouraged the public to be part of the industry before the requirement gets implemented.
The Cebu Realtors’ Board (Cereb) has roughly 400 member-brokers. It is the biggest real estate broker organization in the Philippines, its officials said.
At present, those who are interested to take the licensure exam need to take a 120-hour course in real estate.
The University of San Carlos and University of Cebu are two of the universities in the country that have offered BS REM.
In previous interviews with Cañizares, she said that the real estate practice in the Philippines is a good source of income, especially today that the real estate industry in Cebu is robust.
Not only brokers have taken advantage of the present situation, she said, but also businesses who have never ventured into property development in the past.
While the real estate industry in developed countries is on a “downtrend,” Tomasito Z. Academia, one of Cereb’s board of advisers, said that Cebu will not be affected by it.
This he attributed to the many infrastructure and development projects currently being done in Cebu, side by side with the private sector’s residential and commercial projects.
The expansion of the Mactan Cebu International Airport was also cited as a potentially major contributor to the growth of the real estate sector in Cebu.
Published in the Sun.Star Cebu newspaper on July 05, 2014.