The National Real Estate Development Council (NAREDCO), in association with the Real Estate Management Institute (REMI) on February 15, 2023, started the training of the first batch of real estate agents under a Maharashtra Real Estate Regulatory Authority (MahaRERA) initiative. This is a 20-hour training programme with an option of being delivered in person or online. It will be conducted from Monday to Friday where the duration for each session will be four hours. The training will be provided by the NAREDCO. Sanjay Deshmukh, former IAS officer and nodal officer, MahaRERA, shared his insights with the batch of real estate agents during the training programme.
Recently, the MahaRERA issued a new directive requiring all channel partners and property agents to take the exam and obtain a certificate from the authority before providing professional services. The order, issued on January 10, 2023, stated, “With effect from May 1, 2023, only those real estate agents who have a valid MahaRERA Real Estate agent certificate of competency can apply for MahaRERA real estate agent registration/renewal of registration.”
“The mandate mentioned in Clause (a) above shall apply to the following persons: 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). All employees/staff/officers by whatever designation are working in firms/companies/organizations of real estate agents, who interact with homebuyers/allottees for effecting transactions in real estate projects,” the order added.
The primary objective of the programme is to educate and train real estate agents in the guidelines and regulations set by the authority. On completion of the training course, a completion certificate will be issued by NAREDCO-REMI. The eligibility criteria for real estate agents planning to participate in the training programme include the MahaRERA registered real estate agents, new real estate agents who have not yet registered with the MahaRERA and professionals within and outside of real estate who wish to become certified MahaRERA real estate agents.
Rajan Bandelkar, president, NAREDCO said, “This step by MahaRERA is in the right direction and will create value to all stakeholders in the real estate space. It will bring in more transparency and integrity in the working of real estate agents as they are an important link between a home buyer and developer. A knowledgeable agent will hand hold a home buyer and gain his confidence, hence, helping him in taking a more informed decision during his search for a home.”
Punit Chovatia, head of business development, REMI, said, “Across many developed countries, it is compulsory for real estate agents to undergo training before they begin their professional practice. This is an excellent step initiated by the MahaRERA towards bringing in more competency and professionalism into the real estate sector.”
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