If you are looking to broaden your career in the real estate industry, the Certified Real Estate Consulting Master is one qualification worth close attention. Positioned as an advanced credential above the Real Estate Transaction Agent, appraiser, and first-class architect qualifications, it enables high-level advisory work spanning investment, inheritance, and legal matters. This article explains the overview of this qualification, the exam, and the registration requirements in detail.
What kind of qualification is the Certified Real Estate Consulting Master?
The Certified Real Estate Consulting Master is a qualification certified by the Real Estate Transaction Promotion Center Foundation for professionals recognized as having the knowledge, skills, and practical experience necessary to provide real estate consulting. Its current name was adopted in 2013 (former name: Registered Real Estate Consulting Specialist).
As real estate transactions have become more complex and sophisticated, demand is increasing for professionals who can respond not only to sale and lease agreements, but also to multifaceted consultations spanning investment, inheritance, law, architecture, and taxation.
What kind of work becomes possible after obtaining it?
Obtaining this qualification makes the following work possible or advantageous.
- Comprehensive consulting related to real estate sales, purchases, and leasing
- Advisory services related to real estate investment, utilization, and inheritance
- Operations manager under the Real Estate Specified Joint Enterprise Act (requires combination with the Real Estate Transaction Agent qualification)
- Applicant for registration and important employee under the regulations for registration as a real estate investment advisory business
- Permission and registration for real estate-related specified investment management business under the Financial Instruments and Exchange Act
What are the exam contents and pass rates?
Eligibility
You may take the exam if you fall under any of the following categories.
- Registered Real Estate Transaction Agent (currently engaged in or planning to engage in the real estate brokerage business)
- Registered real estate appraiser (currently engaged in or planning to engage in appraisal work)
- First-class architect (currently engaged in or planning to engage in architectural design, construction supervision, or related work)
Exam content
- Multiple-choice exam (50 questions, 2 hours): business, economics, finance, taxation, architecture, and law are required subjects
- Written exam (5 questions, 2 hours): tests comprehensive and applied ability. Two practical questions plus business and economics are required, and one subject is selected from finance, taxation, architecture, or law
The scope of the exam centers on the Basic Textbook for Real Estate Consulting.
Pass rate
The pass rate has remained within the range of 40% to 70%, and in recent years it has often been in the 40% range. This is higher than the pass rates for the Real Estate Transaction Agent exam (15% to 17%) and the Administrative Scrivener exam (10% to 12%), but the subject matter is broad and requires systematic study.
What are the registration requirements after passing the exam?
Passing the exam alone is not enough for registration. You must meet the following requirements.
- Real Estate Transaction Agent qualification and at least five years of practical experience
- Registration as a real estate appraiser and at least five years of practical experience
- First-class architect license and at least five years of practical experience
After registration, renewal is required every five years, with requirements such as submitting research reports, completing professional education, and participating in self-directed training.
Recommended reading
Frequently Asked Questions (FAQ)
- Q. Can I take the exam if I hold the Real Estate Transaction Agent qualification?
- A. Yes. If you are a registered Real Estate Transaction Agent and are currently engaged in or planning to engage in the real estate brokerage business, you are eligible to take the exam.
- Q. When is the exam held?
- A. It is generally held in November each year. Application forms are typically accepted around July to August. Please check the official website of the Real Estate Transaction Promotion Center Foundation for details.
- Q. What are the benefits of obtaining this qualification?
- A. It enables more advanced consultations spanning investment, inheritance, and tax matters, expanding the range of proposals you can offer clients. It is also effective for meeting the registration requirements for a real estate investment advisory business.
- Q. What happens if I do not renew it?
- A. The qualification loses its validity once the expiration date passes. If the renewal period has lapsed, you must satisfy two or more renewal requirements.
