Land is one of the most valuable resources in any country. It allows for the creation of residential, commercial, and agricultural areas which produce tremendous economic value. Thus, determining the value of land is a critical and important task. This role makes the job of a Real Estate Appraiser extremely vital.
Real Estate Appraiser Licensure Examination
In the Philippines, the Real Estate Appraiser Licensure Examination is usually conducted once every year, usually in August. However in 2016, an examination was conducted in April as well.
To be qualified as a Real Estate Appraiser test-taker, one must meet the following criteria:
- Filipino Citizen;
- With good moral character;
- Graduate of a Bachelor’s degree in Real Estate Management (BS REM) course. (Previously, the Professional Regulation Commission or PRC allowed a graduate of any course relevant to Real Estate, with at least 120 units of Real Estate topics, to take the board exam. However, the PRC now requires takers to be graduates of BS REM.)
If you are interested to be a Real Estate Appraiser soon, take note of the following general topics which are included in the Real Estate Appraiser Board Exam:
- Standards, Ethics, and Practices in Real Estate
- Appraisal Approaches
- Valuation
- Reporting Appraisals
- Financial and Economic Topic in Real Estate
A passer of the Real Estate Appraiser Licensure Examination must have an overall score of 75% while scoring 50% or higher in the two (2) board exam subtests below.
Coverage and Scope of Real Estate Appraiser Board Exam
I. Fundamentals of Real Estate Appraisal (50%)
1. Fundamental of real estate principles and practices
2. Standards and Ethics
- Philippine Valuation Standard
- International Valuation Standard
- National Code of Ethics (DTI)
3. Theories and principles in appraisal
4. Human and physical geography
5. Real estate finance and economics
6. Land management system and real property laws
- P.D. 957
- B.P. 220
- Family Code
- Government Assessment Principles/Taxation (R.A. 7160, Manual on Real Appraisal & Assessment Operations, Guide Book on Mass Appraisal)
- RESA 9646/IRR
- R.A. 7279
- Agri-Law
- CARPER
- Condominium Act/RA 4746
- REIT Law (RA 9856)
- Other Laws Affecting Real Estate
II. Professional Appraisal Practice (50%)
1. Methodology of appraisal approaches
2. Valuation procedures and research
3. Practical appraisal mathematics (statistics and basic mathematics)
4. Appraisal report writing
5. Appraisal of machinery and equipment
6. Case Studies
- Specialized Valuation
7. Government assessment principles/taxation (application/computation)
8. Geographical Information System (GIS) (map reading, plotting)
9. Current events
Best Real Estate Appraiser Schools in the Philippines
Are you interested to find out the top schools that train the highest number of passers in the Real Estate Appraiser exam? We identify them below.
These data were compiled from previous Real Estate Appraiser Licensure Examinations to find out the schools with the highest Real Estate Appraiser Licensure Examination passing rates. Is your university one of the best schools?
Schools ranked by Real Estate Appraiser Board Exam Passing Rate
| Rank | School | Passing Rate | Number of Passers | Total Number of Takers |
|---|---|---|---|---|
| 1 | University of the Philippines Visayas, Miagao | 97% | 208 | 213 |
| 2 | Mindanao State University - Naawan, Naawan | 73% | 41 | 56 |
| 3 | Central Luzon State University, Science City of Munoz | 71% | 92 | 129 |
| 4 | Mindanao State University - Gensan, General Santos City | 63% | 91 | 144 |
| 5 | Mindanao State University - Main Campus, Marawi City | 59% | 44 | 74 |
| 6 | Iloilo State University of Science and Technology - Main Campus, Barotac Nuevo | 58% | 42 | 72 |
| 6 | Western Philippines University - Puerto Princesa, Puerto Princesa City | 58% | 40 | 68 |
| 7 | Southern Philippines Agri-Business and Marine and Aquatic School of Technology, Malita | 50% | 9 | 18 |
| 8 | Pangasinan State University in Binmaley, Binmaley | 46% | 49 | 106 |
| 9 | University of Southern Mindanao, Kabacan | 45% | 9 | 20 |
| 10 | Bicol University - Tabaco, Tabaco City | 42% | 68 | 159 |
| 11 | Mariano Marcos State University - Main, Batac City | 40% | 13 | 32 |
| 11 | Surigao del Sur State University - Tago Campus, Tago | 40% | 4 | 10 |
| 12 | University of Antique - Tibiao, Tibiao | 38% | 5 | 13 |
| 12 | Samar State University, Catbalogan City | 38% | 5 | 13 |
| 13 | Romblon State University - San Agustin Campus, San Agustin | 37% | 6 | 16 |
| 14 | Cagayan State University - Aparri Campus, Aparri | 36% | 47 | 130 |
| 15 | Mindanao State University - Maguindanao, Datu Odin Sinsuat | 35% | 15 | 42 |
| 15 | Mindanao State University - Tawi-Tawi, Bongao | 35% | 6 | 17 |
| 16 | University of Eastern Philippines, Catarman | 34% | 8 | 23 |
| 17 | Davao del Norte State College, Panabo City | 33% | 21 | 63 |
| 17 | Southern Leyte State University - Bontoc Campus, Bontoc | 33% | 8 | 24 |
| 18 | Don Mariano Marcos Memorial State University - South, Agoo | 32% | 20 | 61 |
| 19 | Bohol Island State University - Calape Campus, Calape | 30% | 11 | 36 |
| 19 | Ilocos Sur Polytechnic State College - Narvacan Campus, Narvacan | 30% | 4 | 13 |
| 20 | Aklan State University - New Washington Campus, New Washington | 29% | 12 | 41 |
| 21 | Laguna State Polytechnic University - Los Baños Campus, Los Banos | 28% | 18 | 63 |
| 21 | Sorsogon State College - Magallanes Campus, Magallanes | 28% | 17 | 60 |
| 21 | Mindoro State College of Agriculture and Technology - Bongabong, Bongabong | 28% | 16 | 57 |
| 22 | Partido State University - Sagñay Campus, Sagñay | 26% | 7 | 26 |
| 22 | Isabela State University - Roxas Campus, Roxas | 26% | 6 | 23 |
Note: The table above only ranks the passing rates of First-time takers; repeaters are not included in the passing rate. All figures are based on the four (4) previous Real Estate Appraiser Licensure Examination, specifically the ones held in June in the year 2017, August and April in the year 2016, and August during the year 2015.
Information Sources: PRC Philippines (www.prc.gov.ph); Lamudi.com.ph
