News | Feb 16, 2023
Mumbai: In a first, Maharashtra Real Estate Regulatory Authority (MahaRERA) in collaboration with the developer’s apex body, National Real Estate Development Council (NAREDCO) on Wednesday launched a training programme, commencing the process of certification of about 37,000 real estate agents
Mumbai: In a first, Maharashtra Real Estate Regulatory Authority (MahaRERA) in collaboration with the developer’s apex body, National Real Estate Development Council (NAREDCO) on Wednesday launched a training programme, commencing the process of certification of about 37,000 real estate agents. A total of 53 real estate agents were part of the first batch.
The training module, which will be conducted over 20 hours, will continue at Raunak Maximum City, a housing complex in Thane promoted by NAREDCO president Rajan Bandelkar and conducted by trainers from Real Estate Management Institute (REMI)
Addressing the trainees, MahaRERA nodal officer Sanjay Deshmukh, a retired IAS officer, now working with the regulator for monitoring lapsed projects and other regulatory work, said, “Real estate agents are the key stakeholders along with the promoters and homebuyers. You have dual responsibility towards the promoter and more importantly towards the buyers.”
Bandelkar told the trainees that the agents are like pandits who arrange marriages. “Pandit carefully examines and collects information about gotra, financials, education and future prospects of prospective grooms and brides before match-making. Likewise, as the key link between the promoters and buyers, you have to advise buyers on whether the promoter has got the requisite approvals, what the exact amenities on offer, whether the environmental clearances have been obtained etc,” he said.
Expressing happiness over NAREDCO partnering with MahaRERA and REMI for the first training programme, Bandelkar 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.”
Punit Chovatia, head, business development, REMI, said the certification process is in line with the best international practices. “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,” he said.
Speaking to reporters, Deshmukh said, MahaRERA through a tendering process selected four organisations for imparting the training and REMI is one of them. He said, “We have designed the modules in offline, online and hybrid modes, and they can appear for a mock exam by the training institutes before appearing for the final certification exam to be conducted by the Institute of Banking Personnel Selection (IBPS). The one-hour exams will be conducted in English and Marathi, and will comprise 50 multiple choice questions carrying 100 marks.”
The MahaRERA became the first RERA authority in the country to initiate training and certification for real estate agents last month. “With effect from May 1, 2023, only those who have a valid MahaRERA certificate of competency can apply for the real estate agent registration/renewal of registration,” a January 10 circular read.