Real Estate Agents Will be Required to Take Exams - MahaRERA Circular

Real Estate Training & Real Estate Education 

In order to practise, real estate agents, the brokers between property searchers and owners in the Indian state of Maharashtra will soon be needed to pass exams and get a certificate.

In a recent circular, MahaRERA has announced intentions to give training to real estate agents.

On May 1, 2023, when the Authority will have been in existence for six years, only agents with a valid Competency Certificate will be permitted to register as authorised real estate agents on its platform.

While the RERA was implemented in 2017 to bring professionalism, accountability, and competency to the extremely disorganised real estate market, real estate brokering was formerly the simplest method to become self-employed if you could charm clients and grasp commission percentages.

The Real Estate Regulatory Act (RERA) introduced structural reforms to the industry and compelled developers to alter their internal management and comply with rules. Similarly, real estate brokers were required to register with MahaRERA and adhere with a same set of laws before they could begin their brokerage businesses.

According to the circular, real estate brokers are the public face and middleman between promoters and homebuyers, thus it is vital to provide them with knowledge of the regulatory environment via training.

"With a view to ensuring that real estate agents are professionally qualified to assist home buyers, MahaRERA proposes to introduce a basic real estate agent training and certification course for real estate agents across Maharashtra," the circular states.

The authority has designed a baseline curriculum for real estate agent training during the last two years, and beginning in February, approved training providers will impart instruction in online, offline, and hybrid formats.

It has partnered with the Institute of Banking Personnel Selection to provide online assessments so that real estate agents who pass the examinations may get a Certificate of Competence. Current MahaRERA-registered agents must get a competence certificate by September 1, 2023.

Currently, 37,746 real estate agents in Maharashtra are registered with MahaRERA.