MahaRERA: Deadline for real estate agent certification extended to Jan 1

The housing regulator MahaRERA has extended the deadline for real estate agents in Mumbai to obtain a certificate of competency. The new deadline is November 1, 2023, for new agents and January 1, 2024, for existing agents. Agents must have the certificate to apply for registration or renewal. The move aims to enhance knowledge and consistency in real estate practices and provide buyers with professional advice.

Mumbai: The deadline to obtain the certificate of competency for new real estate agents has been extended by the housing regulator MahaRERA (Maharashtra Real Estate Regulatory Authority) from September 1, 2023, to November 1, 2023, and for the existing 40,000 agents to obtain the certificate by January 1, 2024.

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“With effect from 01.11.2023, only those real estate agents who have a valid MahaRERA Real Estate Agent Certificate of Competency can apply for MahaRERA real estate agent registration or renewal of registration,” the order said.

It also asked existing registered agents to obtain the certificate by January 1, 2024, and upload it on their respective pages on the MahaRERA portal.

Previously, the Authority had given a September 1 deadline for all agents to be certified professionals. However, out of 45,000 registered real estate agents, only 3,500 agents appeared for the two examinations conducted by the body.

On January 10 this year, the regulatory body had a circular directing all real estate agents to obtain a certificate of competency after undergoing training and clearing a written examination. “...real estate agents being the public face and an intermediary between the home buyers and promoters, it is essential that the agents have a comprehensive understanding of the real estate transactions to guide the buyers through each stage of the purchase of any plot, apartment unit or building to avoid any misunderstanding and disputes,” said the circular.

The circular further stated that there was a need for agents to undertake formal training and certification courses, which would bring a certain level of consistency in real estate practices and enhance knowledge and awareness of regulatory and legal frameworks.

Professionally qualified agents could then provide home buyers with comprehensive professional advice and help them make an informed choice in the real estate market. The Authority then finalised a curriculum and modules, ropes in four training institutions to conduct a minimum of 20 hours of training on RERA’s legal framework and conduct online exams.

The Authority also directed all promoters to ensure that the real estate agents they enlist to market their projects under Section 4 (2) (j) of RERA should possess a valid Certificate of Competency with effect from January 1, 2024.