What about if you fail to pass the real estate brokers' exams?

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Yesterday, we said that the BEST foundation of your success in real estate investment is to be a licensed real estate broker. That is obviously an ideal scenario, as we know that not all will become licensed real estate brokers. So what becomes of the many who will be unfortunate enough not to hurdle the licensure exams?

It is not the end though of your career as real estate investor. The most important part of your journey is actually not passing the brokers' exams but attending the review classes where you have the opportunity to familiarize yourself with many real estate terms and concepts. Of course, passing the exams should be the ideal target but if you will fail despite your best efforts, it will not be the end of your real estate plans.

As we progress in this blog, we address both concerns of licensed and "unlicensed" real estate practitioners, knowing for a fact that the latter group is the more dominant in numbers, and sometimes better performers than the "licensed" ones.

For the licensed brokers, they will have the distinct advantage of "legally" practicing their craft, and most often are given many privileges and benefits by established and entrenched real estate business outfits. Majority if not all licensed brokers in the Philippines are members of the Philippine Association of Realtors Boards, Inc. (PAREB), the Real Estate Brokers Association of the Philippines (REBAP) and even the Chambers of Real Estate Board (CREBA).

For the unlicensed brokers, many will be working as salesmen of licensed brokers or even will be engaged in various real estate transactions on their own, the so-called 'foot soldiers' as they are known popularly in real estate circles. Oftentimes, some of these unlicensed brokers, because of the rather weak regulatory rules by the Department of Trade and Industry, practically do the work that should be intended for licensed brokers giving the impression that being a licensed broker is no different from being an unlicensed one.

Unlike other professions well monitored and regulated by the Professional Regulatory Commission (PRC), the profession of real estate brokering in the Philippines does not yet enjoy that level of regulation and monitoring that any licensed broker will be proud of, for now.

At any rate, whether you are a licensed or unlicensed broker, this blog will hopefully give you some insights on how to be a successful real estate investor and practitioner.