Costs to Prepare When Getting a Real Estate License

Tuition fee for BS Real Estate Management in the Philippines ranges from PhP 38,000 to PhP 225,000 per year)

The fee for taking the real estate broker licensure exam is PhP 900.

Other costs to prepare for when getting your real estate license include HLURB License and PRC license fees.

Last Updated on March 10, 2023 by Lamudi

Aside from hard work, smarts, and patience, getting a real estate license requires financial commitments. To become a real estate broker in the Philippines, you’ll have to take a related course and study for the licensure exam. Then, you need to apply for certain licenses, like an HLURB license and PRC license. Regardless, some professions, especially those regulated by the Professional Regulation Commission (PRC), require spending before receiving a license.

That said, here’s a guide on what costs to prepare when getting a real estate license.

BS Real Estate Management Tuition Fee 

(PhP 38K – PhP 40K to PhP 165K – PhP 225K per year)

Before you can get your real estate license, you’ll need proper education. To get the right knowledge and skill set, you have to take up BS Real Estate Management. There are schools that offer BS in Real Estate Management in Luzon, Visayas, and Mindanao. 

Cost-wise, schools with BS in Real Estate Management courses have an average tuition fee of PhP 38,000 to PhP 40,000 annually. Tuition fees can cost as much as PhP 165,000 to PhP 225,000 annually if you enroll in prestigious schools and universities.

Real Estate Broker Licensure Exam Fee

(PhP 900)

After getting your diploma in BS Real Estate Management, the next step is taking the Real Estate Broker Exam. 

You’ll need to pay a Php 900 application fee to take the Real Estate Broker Licensure Board Exam. You can pay for this in person or online. Pay this real estate broker licensure exam fee over the counter at the PRC cashier office and UCPB. Alternatively, you can make payments through Landbank, BancNet, and GCash. Note that online payment methods may charge extra.

DHSUD (formerly HLURB) Accreditation and License Fee

(starts at PhP 288 or PhP 720)

Before engaging in real estate transactions, you’ll need to get DHSUD (formerly HLURB) accreditation or license. 

The Department of Human Settlements and Urban Development (DHSUD) is formerly known as The Housing and Land Use Regulatory Board (HLURB). It is the regulatory authority for housing and land development in the Philippines. This government institution focuses on matters about housing, human settlements, and urban development concerns in the Philippines. 

If you are applying to be a broker, pay the following application fees and your cash or surety bond at the DHSUD branch nearest you. Don’t forget to get your official receipt from the cashier.

  • PhP 720 for new registrants
  • Additional PhP 200 per year for non-renewal
  • PhP 5,000 cash bond

If you want to get licensed as a sales agent, here are the fees you need to pay:

  • PhP 288 for new registrants
  • Additional PhP 200 per year for non-renewal
  • PhP 1,000 cash bond

The cash bond is required to secure the fulfillment of your obligation to sell real estate properties in good faith. 

PRC License Fee

(starts at PhP 300 for initial registration)

There’s another cost you need to prepare for when getting a real estate license in the Philippines. After passing the board exam, you should apply for a PRC license, then proceed to the oathtaking. Here is a list of the fees you must pay to get or renew your PRC ID:

If your profession requires baccalaureate degrees:

  • Initial registration fee – PhP 600
  • Annual renewal fee – PhP 450 or PhP 1,050 for three years

If your profession requires non-baccalaureate degrees:

  • Initial registration fee – PhP 450
  • Annual renewal fee – PhP 420

For medical representatives and real estate salespeople:

  • Initial registration fee – PhP 300
  • Annual renewal fee – PhP 150 or PhP 450 for three years

PRC IDs are only valid for three years, regardless of your profession. You must renew your PRC ID during your birth month.

Miscellaneous Expenses

Applying for the exams and licenses mentioned above requires numerous requirements, including original and photocopies of IDs and legal documents. Remember to include in the costs to prepare for when getting a real estate license in the Philippines the money you spent on photocopying and printing these documents. You should also include your fare or gas expenses. 

All in all, a budget starting around PhP 3,000 is needed if you want to get your real estate license in the Philippines. This amount excludes the tuition fee for BS in Real Estate Marketing. Remember, the total cost to prepare for when getting a real estate license will vary from one person to another.

For more tips and advice, check out our previous journals here

Photo from Depositphotos

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Independent Living Checklist: Amenities to Check When Moving On Your Own

Living independently can be challenging as you should figure out things on your own when it comes to maintaining them. When you live with others,...