National Real Estate Development Council (NAREDCO), an apex body, formed under the aegis of Ministry of Housing & Urban Affairs, Government of India in association with Real Estate Management Institute (REMI) has commenced the training of the first batch of real estate agents under the Maharashtra Real Estate Regulatory Authority (MahaRERA) initiative.
Recently, MahaRERA has 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. In its order issued on Jan 10 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 called working in firms/companies/organizations of real estate agents, who interact with homebuyers/allottees for effecting transactions in real estate projects.
This is a 20-hour training program with an option of being delivered in person or online. It will be conducted from Monday to Friday; four hours duration for each session. The first batch of the program starts on February 15, 2023.
The primary objective of the program is to educate and train real estate agents in the guidelines and regulations set by the Maharashtra Real Estate Regulatory Authority (MahaRERA). It is aimed at equipping agents with the knowledge and skill sets necessary to effectively represent buyers and sellers in real estate transactions. It provides agents with an understanding of the market and changes in the real estate sector due to RERA. On completion of the training course, a completion certificate will be issued by NAREDCO-REMI.
Mr. Sanjay Deshmukh, Former IAS Officer and Nodal Officer, MahaRERA shared his valuable insights with the batch of real estate agents during the training program.
Speaking on the occasion Mr. Rajan Bandelkar, President, NAREDCO said, “We are delighted to be partners in this training program for real estate agents. 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.”
Mr. Punit Chovatia, Head – 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 MahaRERA towards bringing in more competency and professionalism into the real estate sector.”
This program will benefit real estate agents by preparing them for the MahaRERA real estate agent certification exam. It will facilitate an understanding of the clauses of MahaRERA and expand their network among their peers within the industry.
The eligibility criterion for real estate agents planning to participate in the training program include MahaRERA registered real estate agents, new real estate agents who have not yet registered with MahaRERA and Professionals within and outside of real estate who wish to become Certified MahaRERA real estate agents.
The Real Estate Management Institute (REMI) is a leading educational institute offering real estate courses in India. REMI currently provides certification programs, executive courses, customized training workshops and other management programs for the real estate industry. REMI offers world-class best practices, a global curriculum and international certification in real estate through its collaboration with the Institute of Real Estate Management (IREM®), USA that enables new entrants, early-stage professionals, entrepreneurs and leaders adapt to an ever-evolving regulatory regime.