Agents play a vital role in Real Estate transactions. MahaRERA has issued few orders and circulars regarding the Real Estate Agents requiring to mandatorily seek training, clear exam and obtain the Certificate of Competency (CoC).
Few important dates, durations and numbers to remember:
On/After 01/11/2023 - Registration/Renewal only with valid Certificate
On/Before 01/01/2024 - All agents need to upload Certificate
No. of hours for training - 20 hours minimum
Compulsory attendance - 60% minimum
Passing cutoff of exam - 40/100
Authorised Training Institutes, except MahaRERA pre-approved Institutes for respective firm with 500+ employees:
Rustomjee Academy (+919890855008)
National Association of Realtors of India (+918928263563)
NAREDCO (+919820267946)
SIMACES Learning (+919503655277)
Who needs to get this training:
If Individual/Proprietory firm: Respective individual/proprietor should get it in their name
If Company/Partnership etc: Authorised Signatory in their name and Directors/Partners with employees interacting with prospective buyers
If Company/Firm ect. (500+ employees); O47: All employees (with Directors/Partners) who interact with home buyers. Such firms can onboard pre-approved institutes for training.
How/where to apply:
Fees:
Training - Max. ₹ 5000/- (excluding GST)
Exam - Max. ₹1500/- (excluding GST)
What happens if a Certificate is not obtained even after the above dates:
Agents will be penalised. MahaRERA has not disclosed the penalties yet.
Looking for more such advice? Or, RERA consultation for your Real Estate Agency? Contact us today!
The information relayed in this blog should not be construed as legal advice. The applicability of information varies on the basis of the circumstances of each case. But feel free to call us for similar advice.
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