Mumbai: Starting Sept 1, all channel partners or property agents will be required to have a certificate from the Maharashtra Real Estate Regulatory Authority (MahaRERA) to offer their professional services. On Wednesday, MahaRERA Secretary Dr Vasant Prabhu issued an order to this effect making it mandatory for all the agents to hold a certificate of competency.
Though the regulatory law has made it mandatory for all agents to have a certificate prior to facilitating any real estate transactions, not all have followed the regulation and several continue to operate without the certificate.
The objective to formulate and introduce the Real Estate (Regulation and Development) Act, 2016, was to streamline the sector, which until then continued to largely operate unregularised and unorganised. So far, there are 38,771 real estate agents from across the state registered with MahaRERA.
To get the certificate of competence, agents are supposed to appear for an exam, the curriculum of which has been put together by the All India Institute of Local Self Governance. The online test is conducted by the Institute of Banking Personnel Selection.
The registration process can be initiated by visiting MahaRERA's portal at https://maharerait.mahaonline.gov.in/.
As per MahaRERA's order, registration is required for all individual real estate agents, employees, staff, officers, etc in brokerage companies and firms, as well as those who interact with homebuyers and facilitate in effecting real estate transactions.
Henceforth, the real estate projects will also be required to entertain only MahaRERA registered agents. Along with every realty project's registration with MahaRERA, the list of registered channel partners too is shared and made available for public access.
