The effects of rate of phase separation to ester interchange reactions and the repulsive pair interaction energy on the phase behavior in a phase-separated immiscible polyester blend are investigated using a Monte Carlo simulation method. The time evolution of structure factor and the degree of randomness are monitored as a function of homogenization time. When the phase separation is dominant over ester interchange reactions, the domain size slowly increases with homogenization time. However, when the pair interaction becomes less repulsive, the domain size does not significantly change with homogenization time. On the other hand, when ester interchange reactions are dominant over the phase separation, the homogenization proceeds without a change in the domain size. The higher the extent of phase separation, the lower the increasing rate of the DR. However, when the phase separation is sufficiently dominant, the effect of the extent of phase separation on the increasing rate of the degree of randomness become less significant.