MahaRERA is looking to lead their first assessment for certification for real estate agents in the state on May 20. Four hundred and fifty-seven agents will take the exam in Mumbai, Thane, Navi Mumbai, Aurangabad, Dhule, Kolhapur, Nagpur, Nashik, Pune, and Solapur after completing the basic course for their professional certification.
On January 10, 2023, MahaRERA had given another roundabout, making it compulsory for real estate agents to go through proficient preparation and acquire certification from it before carrying out their specialities as property specialists. It illustrated an interaction by which every one of the 39,000 candidates enrolled with it as well as new real estate agents need to get a MahaRERA certificate before September 1.
“To bring about a certain level of consistency in the practices of real estate agents, enhance knowledge and awareness of the regulatory and legal framework and practices, enforcement of code of conduct and to ensure that real estate agents are professionally qualified to assist home buyers, MahaRERA proposes to introduce basic real estate agent training and certification course for real estate agents across the state of Maharashtra,” the circular stated.
In addition, it stated that because estate agents acted as a middleman between promoters and homebuyers, it was essential to equip them with knowledge of the regulatory framework to assist them in providing better service.
To comply with RERA provisions, promoters will also have to make sure that the names and addresses of property agents they submit have valid competency certificates starting in September 2023.
“Considering their importance in the real estate sector, it is important that they know all RERA provisions and provides this information to home buyers to enable them to make an informed decision. The agents should be able to explain things like sale agreements, allotment letters, RERA-defined carpet area, defect liability clauses in RERA and so on to home buyers.”
The structural changes for estate agents aimed at increasing real-estate transaction transparency will be initiated by the examination on May 20. By the PMLA guidelines issued in November 2022, MahaRERA issued another circular to agents in February requiring them to submit mandatory half-yearly reports of their transactions.
Estate Agents with a business of more than 20 lakhs were also required by the circular to appoint a principal officer and a designated director by the Prevention of Money Laundering Act (PMLA) guidelines and update their records with the Authority. These progressions will permit a tight examination of property exchanges and assist policing with following exchanges in tax evasion examinations.
Section 10 (b) of RERA and Maharashtra Rule 11 (5) under the act as of now order realtors to keep up with and protect books of records, records and archives independently for each venture, though Maharashtra rule 16 endorses that these records be delivered for examination as and when they are required under the IT Act and the Organizations Act.