The real estate sector in Maharashtra is regulated by the Maharashtra Real Estate Regulatory Authority (MahaRERA), a government-created body to ensure transparency, accountability, and efficiency in the real estate industry. The main goal of the Real Estate (Regulation and Development) Act, 2016 is to protect the interests of buyers, sellers, and real estate agents while promoting a well-organized and competitive market among homebuyers.
To improve the professionalism and legal awareness of real estate agents, MahaRERA has made training mandatory from May 2023. Now every real estate agent will have to complete a training course, pass an exam, and get a certificate before starting a business so that they can legally operate their business. In this guide, you will get all the necessary information related to Real Estate RERA Agent Training in Maharashtra, such as training fees, eligibility, exam details, and much more. Let’s understand everything in detail one by one.
Who is a Real Estate Agent?
A real estate agent acts as a bridge between property buyers and sellers, ensuring smooth transactions without any false information. They help buyers find the right property, negotiate while making deals, and support homebuyers in completing transactions. Real estate agents are licensed professionals who have specialized knowledge in property matters and government authorization.
As per RERA Act, 2016, every real estate agent is required to register with MahaRERA before providing any service related to property sale or purchase. These rules and regulations ensure that everything is legal and transparent between buyers and sellers.
RERA Agent Registration Fees (Pre & Post-Training)
| Details | Amount (INR) |
|---|---|
| RERA Agent Govt Fees | 10,600 (Approx.) |
| Training Course Fees | 5,000 (Approx.) |
| Exam Fees | 1,500 (Approx.) |
| Total | 17,100 (Approx.) |
Why is RERA Agent Training Mandatory?
The Maharashtra government has started a mandatory real estate RERA agent training program to make real estate agents proficient in legal processes, invoicing, and their roles and responsibilities. As per the notification issued on 10 January 2023, now only certified agents can apply for MahaRERA registration or renewal from 1 May 2023. Meaning, if an agent is not certified, he will not be able to register or renew for MahaRERA. This step has been taken to increase transparency and professionalism in the real estate sector. Because of these rules and regulations, homebuyers will no longer have to face any kind of difficulty while buying a home.
Also Read: MahaRERA Real Estate Agent Certificate of Competency Exam
Who Needs Real Estate RERA Agent Training?
The training is mandatory for:
- Individuals: All individual real estate agents.
- Firms/Companies/Organizations: Authorized signatories applying for MahaRERA registration.
- Employees/Staff: Anyone who interacts with homebuyers or facilitates property deals.
- Existing Agents: Agents who are already registered with MahaRERA will also have to get a new certification.
This is necessary for everyone so that everything runs smoothly and as per the rules.
Modes of Real Estate RERA Agent Training
To make the process even easier, MahaRERA has provided three flexible options for training which are as follows:
- Online: Learn from home, wherever you are comfortable.
- Offline: You can attend classes and take training from direct trainers.
Key Details of Real Estate RERA Agent Training
- Duration of Training Program: You will need at least 20 hours to complete this training program.
- Training Fees: Training providers can charge a maximum of ₹5,000 (GST excluded).
- Exam Fees: The fee for taking the exam is ₹1,500 (GST excluded) which you will have to deposit at the time of exam registration.
RERA Agent Examination: What You Need to Know
Eligibility
- Candidates must complete at least 60% attendance in the training program to sit in the exam, otherwise you will be denied the exam.
Exam Pattern
- The exam is conducted by IBPS (Indian Institute of Banking and Personnel Selection). You will receive all the important information about the IBPS exam center on your registered mail a few days before the exam date.
- There will be 50 Multiple Choice Questions (MCQs), each question carries 2 marks (total 100 marks).
- The exam is available in both English and Marathi languages. You can choose the language according to your language.
- You must secure a minimum of 40 marks out of 100 to pass, otherwise you will have to appear for the exam again.
Attempts
- Candidates will get 3 attempts to clear the exam.
- If they are unable to clear the exam in 3 attempts, they will have to take the training program again.
Real Estate RERA Agent Training Curriculum
This training program covers important topics for those working in the real estate sector, so that agents can get the right knowledge and skills:
Introduction to Real Estate Act, 2016
- What is this act and what role does it play in real estate. All these topics are explained in it.
MahaRERA and its Portal
- What is MahaRERA, how to use its portal, and what is its importance.
Agent Registration and its Responsibilities
- How to register an agent and what are his duties, all this is explained in detail.
Due Diligence for Property Transactions
- What precautions should be taken while dealing in property and how to verify documents.
Sales Process, Forms, and Agreements
- What is the process of selling a property, which forms and agreements are used, and how to handle them.
Real Estate Calculations
- How property rates, EMI, taxes, and other financial calculations are done.
Allottees and Their Responsibilities
- What are the rights and duties of allottees (property buyers), all this information is given.
This curriculum is designed in such a way that agents can handle legal, financial, and operational aspects well. Basically, this training will prepare them to manage real estate transactions professionally.
Also Read: MahaRERA Exam Syllabus, Eligibility, Pattern, Preparation Tips
Real Estate RERA Agent Training Certificate
After passing the exam, candidates get a “Certificate of Competency”, which has a unique certification number. This certificate is very important for RERA registration or renewal and after this you can start your real estate business by making RERA license.
Why Choose Real Estate RERA Agent Training?
- Increase your credibility: Certified agents are completely trusted by buyers and sellers.
- Stay safe by following the rules: You can avoid legal issues by following RERA guidelines.
- Help your skills further: Gain a deep understanding of real estate laws and practices so that you are fully prepared to face any problem at any time.
- Get new opportunities in your career: Open the doors of better opportunities in the real estate sector so that you can take yourself to a new level.
Conclusion
Real Estate RERA Agent Training program can be a game-changer for real estate professionals in Maharashtra. By completing this training and passing the exam, agents can follow the legal requirements, enhance their expertise, and win the trust of clients. This is a great opportunity to take your career to even greater heights in the real estate industry. Don’t miss it!
Start your Real Estate RERA Agent Training today and become a certified professional!
Frequently Asked Questions
Is Real Estate RERA Agent Training Certification Mandatory for Registration?
Yes, from 1st May 2023, only agents with a valid MahaRERA Certificate of Competency can apply for registration or renewal.
What is the Passing Criteria for the Exam?
Candidates must score at least 40 out of 100 marks to pass the exam.
Can I Complete the Training Online?
Yes, training is available in online and offline modes.
Do Existing Agents Need to Clear the Exam?
Yes, even if you received your RERA certificate before 31st March 2023, you must obtain the new certification by 1st August 2023.
What is the Duration of the Training Program?
The program requires a minimum of 20 hours of training.
