Mumbai, India, June 16, 2023: The Maharashtra Real Estate Regulatory Authority (Maharera) has announced a new mandate requiring all real estate agents to obtain certification through specific training by September 1.
Currently, only 2134 candidates have registered for the certification process, with 423 candidates having already taken the exam, and 405 candidates successfully passing. With an estimated 39 thousand real estate agents operating in the state, it is crucial for them to complete the training and acquire the certification before the September 1 deadline. Maharera issued a circular on January 10, emphasizing that failure to obtain the certificate would render agents unable to work as agents after the specified date. To ensure compliance, Maharera has sent notifications to developers and agents, urging them to ensure their agents receive the necessary certification, even those who are already registered agents.
Real estate agents play a pivotal role in the industry as they serve as a crucial link between homebuyers and developers. They act as primary points of contact for customers and provide essential information about projects. Recognizing their significance in facilitating transactions, it is imperative for all agents to be well-versed in the key provisions of the RERA Act. Consistency, clarity, and uniformity in conveying fundamental information about regulatory provisions, such as the Agreement for Sale, Allotment Letter, carpet area, defect liability period, and more, are vital for customers to make informed decisions when purchasing a property. With the best interests of customers in mind, Maharera has made training and certification mandatory for agents.
Maharera reiterates that agents who fail to obtain the required certification will be prohibited from working as agents after September 1. This measure aims to ensure consumer protection and maintain high standards in the real estate sector. By mandating agents to undergo training and obtain certification, Maharera strives to uphold transparency and accountability, ultimately benefiting both homebuyers and the industry as a whole.
