Tuesday, April 16, 2013

How To Renew your Real Estate License at PRC

Just like any government ID, our real estate professional licenses from the Professional Regulation Commission (PRC) have certain validity periods. For brokers, appraisers, assessors and consultants,


license has to be renewed every three (3) years. For salespersons, the license is valid for one year. Specifically, they are valid until your birthday on that year of expiration.


How do I renew?
What are the requirements?
How much do I have to pay?
Can someone renew on my behalf?

Here is a step-by-step guide on the requirements and the procedures  in the renewal of your professional license.






RENEWAL AT PRC CENTRAL AND REGIONAL OFFICES


1. Prepare the following requirements:
  • Passport-sized photos with nametag on white background
  • Original and photocopy of any government ID
  • Original and photocopy of PRC license
  • Surety bond (premium worth P20,000.00 valid for 3 years, obligee: PRC and HLURB for broker; PRC for appraiser; no surety bond for consultants, assessors and salespersons)
  • Notarized Continuing Professional Education (CPE) certificate from a PRC-accredited CPD provider
  • Certificate of Membership and in Good Standing from PHILRES
2. Get a renewal stub form from the Standards and Inspection Division of PRC. Fill up the required fields and attach your photo.

This is provided for free by PRC.


3. Go to the Application Division and submit your documents/requirements. Once approved, pay P480 renewal fee to the cashier.

4. Claim your new ID on the scheduled date by presenting your claim stub and official receipt. We've been told that you can now simply wait for your ID to be released on the same day that you renewed your license.

RENEWAL AT SM MALLS
Because of some internal concerns, PRBRES has advised the satellite renewal centers in all SM Malls to NOT ACCEPT any renewal for real estate professions: broker, appraiser, consultant, assessor and salesperson.   



Can a representative renew on my behalf?
Yes, as long as the representative is duly-authorized, by presenting a letter of authority or Special Power of Attorney (SPA) from the professional.

For more information, visit the PRC website

13 comments:

  1. Thank you for your post. This is excellent information. It is amazing and wonderful to visit your site. It really gives me an insight on this topic. You can find more information about real estate here.

    ReplyDelete
  2. I am a real estate broker who works for a developer as a Marketing Manager. As a practicing real estate broker do we get CPE credits? I can comply with all the requirements for renewal except the CPE credits.

    ReplyDelete
  3. I would like to ask the number of CPE units required for the renewal of license for Real Estate Appraiser. Thank you

    ReplyDelete
  4. My licensed has been expired for 10 years, can I still renew it?

    ReplyDelete
    Replies
    1. hello Jed, did you get a response as to how to renew your license after 10 years?

      Ian

      Delete
  5. My licensed has been expired for 10 years, can I still renew it?

    ReplyDelete
    Replies
    1. Good day! You need to take the 120-hr Comprehensive Real Estate Seminar and Review to take the brokers exam again now under Professional Regulations Commission (PRC). The deadline for renewal under DTI was last July 2011.

      Delete
  6. CPE training should be repealed because its too costly and besides practicing brokers get their training regularly thru actual brokerage practice and from seminars attended with developers and real estate organizations. Other more traditional professions like CPA, LLB (law), doctors, engineering, etc. no longer require CPE to get renewal with PRC.

    ReplyDelete
  7. Hey thanks for describing the process. It is good idea to share the our thoughts with blog. This information will help me a lot because I am trying to renew my licence from 2 months but did not get any proper process finally one person Lee Arnold helped me. He is also licensed broker.

    ReplyDelete
  8. Thanks for sharing the process of renewing the license! This will be great because I can start again to sell some real estate properties from Camella homes.

    ReplyDelete
  9. Is the CMIGS from PHILRES still required for renewal of a broker's license? i knew of a number of brokers in Pampanga who applied for a CMIGS early this year but cannot apply for a renewal coz up to now they aren't receiving yet their CMIGS...is there a problem from the management of PHILRES?this brokers cannot file their renewal coz of this requirement,cmigs?

    ReplyDelete
    Replies
    1. First, yes CMIGS is a requirement. Second, we need to know how they applied for renewal and if they were able to submit all the requirements? They should be able to get an email/notification from PHILRES that they were able to receive these documents. If not, it is a must to contact PHILRES immediately. Hope this is helpful. Thanks!

      Delete

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