EXHIBIT (B)(2)


CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350
AS ADOPTED PURUSANT TO SECTION 906
OF THE SARBANES-OXLEY ACT OF 2002

I, Jimmy D.  Gambill,  Chief  Executive  Officer  of the  Franklin  Real  Estate
Securities Trust (the "Registrant"), certify, pursuant to 18 U.S.C. Section 1350
as adopted pursuant to Section 906 of the  Sarbanes-Oxley  Act of 2002, that, to
my knowledge:

1. The  Registrant's  periodic  report on Form N-CSR of the Franklin Real Estate
Securities  Trust for the period ended 4/30/03 (the "Form N-CSR") fully complies
with the  requirements of Section 13(a) or 15(d) of the Securities  Exchange Act
of 1934; and

2. The information  contained in the Form N-CSR fairly presents, in all material
respects, the financial condition and results of operations of the Registrant.

Dated:  June 6, 2003

/S/JIMMY D. GAMBILL
Chief Executive Officer - Finance and Administration

A signed  original of this  written  statement  required by Section 906 has been
provided  to  Franklin  Real Estate Securities Trust and will be  retained by
Franklin Real Estate Securities Trust and furnished  to the  Securities and
Exchange Commission or its staff upon request.






CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350
AS ADOPTED PURUSANT TO SECTION 906
OF THE SARBANES-OXLEY ACT OF 2002

I, Kimberley H. Monasterio, Chief Financial Officer of the Franklin Real Estate
Securities Trust (the "Registrant"), certify, pursuant to 18 U.S.C. Section 1350
as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to
my knowledge:

1. The Registrant's periodic report on Form N-CSR of the Franklin Real Estate
Securities Trust for the period ended 4/30/03 (the "Form N-CSR") fully complies
with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act
of 1934; and

2. The information contained in the Form N-CSR fairly presents, in all material
respects, the financial condition and results of operations of the Registrant.

Dated:  June 6, 2003


/S/KIMBERLEY H. MONASTERIO
Treasurer and Chief Financial Officer

A signed original of this written statement required by Section 906 has been
provided to Franklin Real Estate Securities Trust and will be retained by
Franklin Real Estate Securities Trust and furnished to the Securities and
Exchange Commission or its staff upon request.