MahaRERA New Guidelines/Directive for Real Estate Agents

New Guidelines for Real Estate Agents

MahaRERA new Guidelines/Directive for Real Estate Agents: In Recent days MahaRERA has released many guidelines or directives which one needs to be follow as Real Estate Agent. RERA enacted with the aim to bring transparency in the dealing of buying and selling of real estate. Even today many transactions in Real Estate happened with the help of Real Estate Agent. They share a major chunk of transactions in Real Estate Sector even today.

The most important guidelines relating to Real estate training and certification which have causes several buzz among many Real estate agents are explained below:

Roadmap for Implementation as per MahaRERA Order

Real Estate Agent Training Details

a) Eligibility of training

The Training shall be applicable for:

• All individual real estate agents in case of individuals and authorized signatory (authorized for making application for MahaRERA real estate agent registration) in case of firms/companies/organizations (Other than Individuals).
• All employees/staff/officers by whatever designation called working in firms / Companies /organizations of real estate agents, who interact with homebuyers/allottees for effecting transactions in real estate projects
• AII real estate agents registered with MahaRERA.

b) Training mode, duration & other details

All modes of training shall be made available by the empaneled training providers which shall be as
follows:

• Online
• Offline (Physical)
• Hybrid (Online + Physical)

c) Examination

• The examination registration process shall commence from March 2023 and examinations shall commence from April 2023 onwards.
• The examination pattern will be Multiple Choice Questions with four options for each question. There shall be tentatively 50 questions (2 marks each) amounting to 100 marks. The passing marks shall be 40 marks.
• Examinations shall be held in English and Marathi
• Examination fees: Maximum fees to be levied for registration of examination shall not exceed Rs. 1500/- (excluding GST)

d) Certification

• On successful passing of examination, the candidates shall be provided certification i.e. a Certificate of Competency shall be issued with a unique certification number.
• The certification number shall be required to be mentioned for registration/renewal or continuation of registration of real estate agents with the Authority.

Submission of Half Yearly Reports by MahaRERA Registered Real Estate Agents:

• MahaRERA registered real estate agents shall upload on their respective web page half-yearly progress report in the Format as prescribed in Form- 6 annexed hereto as Annexure ‘A’.
• The half-yearly progress report shall be uploaded by ever), registered real estate agent on their respective web page as per the financial calendar half-year period which shall be (a) April to September and (b) October to March.
• MahaRERA registered real estate agents shall upload on their respective web page the half-yearly progress report for the financial calendar half-year period “April to September” on or before 20th October and for the financial calendar half-year period “October to March” on or before 20th of April.
• In the event the half-yearly progress report in the manner and as per the timelines mentioned above is not submitted, action as deemed fit shall be initiated by the Authority.
• The half-yearly progress reports except the portion marked ‘*’ in Form 6 shall be made available for public viewing to enable greater transparency and citizen empowerment.
• This order shall come into force with effect from 01.04,2023 and in view thereof, the first half-yearly progress report for the period April 2023 to September 2023 shall be uploaded by every registered real estate agent on their respective web page on or before 20.10.2023.

(For formats of Half Yearly reports kindly connect to us through various available medium).