The Maharashtra Real Estate Regulatory Authority (MahaRERA) has introduced a mandatory certification requirement for real estate agents. This certification is crucial for ensuring the accuracy of information and transparency in property transactions.
Previously, new agents and those seeking to renew their registrations were required to obtain certification in May and September, respectively. MahaRERA has now extended the deadline to November 1 of this year, stressing the importance of homebuyers exclusively engaging registered agents to prevent fraud or misinformation in property transactions after November 1.
Starting from January of this year, real estate agents are mandated to obtain certification from RERA to become registered agents. This process involves a 20-hour training program followed by an online examination. Various institutions have been designated for the training program, according to MahaRERA officials. Two exams have already been conducted, with a 96% pass rate in the first and 92% in the second. A third exam is scheduled soon, and the online examination process will continue to be available for those aspiring to enter the real estate sector.
This certification ensures that agents possess a thorough understanding of RERA rules and regulations and can provide accurate and truthful information to buyers. In addition to new agents, those previously registered with MahaRERA without certification and staff members working with property developers in agent roles have until January 1, 2024, to obtain their certificates as trained professionals.
MahaRERA has also instructed all property developers not to engage agents without certification.
The agent certification program focuses on improving transparency in property transactions by ensuring that agents possess a comprehensive understanding of RERA regulations. This enables them to furnish precise details about the property, covering aspects such as carpet area, project specifics, Occupancy Certificate, sales agreements, allotment letters, and defect liability periods.
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