Waterproofing should be applied a minimum of 12 above finished grade and then applied to a point 12 below the top surface of the interior slab on grade.
Waterproofing exterior walls above grade.
The best sealant that is available a polyurethane paint will seal the blocks and mortar against further.
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This low odor masonry waterproofer is formulated for waterproofing above and below grade basement walls masonry walls retaining walls cinder and concrete blocks stucco and brick.
Typically the waterproofing is wrapped over a masonry brick shelf or up behind the finish exterior materials at grade so that it may be terminated and shingle lapped by the weather barrier.
As for the question posed above there are methods of waterproofing exterior walls made from split face block or other masonry materials but they are not the same permanent waterproof solutions provided by basement waterproofing.
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Basement and masonry waterproofing paint with nanoguard technology is an interior exterior waterproofer specially designed for porous concrete and masonry surfaces.