In the last five years 38,908 real estate agents across Maharashtra were granted registration by MahaRERA of the total 40,872 application it received. But now to become a real estate agent in Mumbai and Maharashtra has become a bit tedious, the reason being one has to pass an exam get a certificate of competency and only then will he or she allowed to practice their profession.
On Wednesday, MahaRERA came out with a circular, introducing of real estate agent training and certification program. This will come into effect for all renewal as well as fresh registrations from May 1, 2023 and all brokers need to get a Certificate of Competency before September 1, 2023.
Section 9 of the RERA Act, mandates every real estate agent to be registered with MahaRERA before facilitating the sale or purchase of or act on behalf of any person to facilitate the sale or purchase of any plot, apartment, unit or building as the case may be in a real estate project or part of it being sold by a developer and accordingly.
The circular states, “Real estate agents being the public face and an intermediary between the home buyers and promoters it is essential that real estate agents have comprehensive understanding of the real estate transactions in order to guide the home buyers through each stage of purchase of any plot, apartment unit or building so as to avoid any misunderstanding and disputes.”
MahaRERA claims that in the State of Maharashtra, there is a need to make available an institution for real estate agents to undertake formal training and certification course and thus enable homebuyers to get comprehensive professional advice and expertise inputs thereby assisting the home buyers to make an informed choice / decision in the real estate market.
Now in order to bring about certain level of consistency in the practices of real estate agents, enhance knowledge and awareness of the regulatory and legal framework and practices, enforcement of code of conduct and with a view to ensure that real estate agents are professionally qualified to help and assist home buyers , MahaRERA has proposed to introduce basic real estate agent training and certification course for real estate agents across the State of Maharashtra.
MahaRERA has over the past 2 years, in consultation with associations of real estate agents, homebuyers, promoters and All India Institute of Local Self Governance (AIILSG), has developed the basic curriculum for real estate agent training and has empaneled training providers for imparting the training as per the convenience of the real estate agents: online, physical and in hybrid form with effect from first week of February 2023. Institute of Banking Personnel Selection (IBPS) will undertake online examinations so that real estate agents who clear the examinations are provided with “Certificate of Competency”.
Now from May 1, 2023, only those real estate agents who have a valid MahaRERA Real Estate Agent Certificate of Competency can apply apply for MahaRERA real estate agent registration and renewal of registration.
The circular clarifies who all it applies to, this new clause will apply to all individual real estate agents in case of individuals and authorized signatory (authorized for making application for MahaRERA real estate agent registration) in case of firms / companies / organizations (Other than Individuals). Also to all employees / staff / officers by whatever designation called working in firms / companies / organizations of real estate agents, who interact with homebuyers / allottees for effecting transaction in real estate projects.
Existing registered real estate agents shall obtain MahaRERA Real Estate Agent Certificate of Competency before September 1, 2023 and upload the same at their respective web page failing which action shall be initiated by the Authority.
Also from September 1, 2023 developer of real estate project shall ensure that the names and addresses of the real estate agents that they provide to MahaRERA for their project shall be only such real estate agents who have MahaRERA real estate agent certificate of competency.
Also Read: MahaRERA initiates scanning of all housing projects registered in 5 years
