The Maharashtra Real Estate Regulatory Authority (MahaRERA) plays a pivotal role in regulating the real estate sector, ensuring professionalism, accountability, and competency. As part of its mission to safeguard the interests of homebuyers and promote transparency, MahaRERA mandates the registration of real estate agents under the Real Estate (Regulation and Development) Act, 2016.
Importance of Real Estate Agents
Real estate agents serve as intermediaries, connecting homebuyers or allottees with property developers. They facilitate numerous real estate transactions, making them a vital component of the industry.
Section 9 of the Act stipulates that every real estate agent must register with MahaRERA before engaging in any activities related to the sale or purchase of real estate properties. This registration ensures transparency and accountability in real estate transactions.
Role of Rule 14(2)
Rule 14(2) of the Maharashtra Real Estate (Regulation and Development) (Registration of Real Estate Projects, Registration of Real Estate Agents, Rates of Interest, and Disclosures on Website) Rules, 2017, makes it obligatory for registered real estate agents to include their registration number on all documents related to advertisement, marketing, selling, or purchasing property, along with the project’s registration number.
Basic Training and Certification
MahaRERA recognized the need for standardized practices among real estate agents. To enhance their knowledge, awareness of regulations, and professional conduct, MahaRERA introduced a basic real estate agent training and certification course in Maharashtra. This initiative aims to ensure that real estate agents are well-qualified to assist homebuyers and allottees.
Extension of Timelines
In response to multiple requests for deadline extensions, MahaRERA issued further directives: a) Starting from November 1, 2023, only agents with a valid MahaRERA Real Estate Agent Certificate of Competency can apply for registration or renewal. b) Existing registered agents must obtain this certificate before January 1, 2024, and upload it to their respective web pages. c) The mandate applies to individual agents and authorized signatories in the case of firms, companies, or organizations, as well as employees working with real estate agents who interact with homebuyers. d) Promoters of real estate projects must ensure that the names and addresses of agents provided in compliance with Section 4(2)(j) of the Act are those with MahaRERA Real Estate Agent Certificate of Competency. e) The new dates in this directive replace those in the previous MahaRERA Order No. 41/2023 dated 10.01.2023.
The extension of timelines for obtaining the MahaRERA Real Estate Agent Certificate of Competency is a significant development aimed at enhancing professionalism and knowledge among real estate agents. It ensures that agents are well-equipped to serve homebuyers and allottees effectively while complying with MahaRERA regulations. All stakeholders in the real estate sector are encouraged to adhere to these timelines and requirements to maintain transparency and accountability in the industry.
MAHARASHTRA REAL ESTATE REGULATORY AUTHORITY
Order No: – 41A /2023
No. MahaRERA/Secy/File No. 27/ 1304/2023 Date: 20/09/2023
Subject: Extension of timelines for obtaining MahaRERA Real Estate Agent Certificate of Competency.
Whereas, the Real Estate (Regulation and Development) Act, 2016 (the Act) was enacted to bring about greater professionalism, accountability and competency in real estate sector as well as to protect the interest of the home buyers / allottees.
And whereas, real estate agents are an integral part of the real estate sector, who connect home buyers / allottees and promoters and promote most of the real estate transactions.
And whereas, Section 9 of the Act mandates every real estate agent to be registered with MahaRERA before facilitating the sale or purchase of or act on behalf of any person to facilitate the sale or purchase of any plot, apartment, unit or building as the case may be, in a real estate project or part of it, being sold by a promoter.
And whereas, under Rule 14(2) of the Maharashtra Real Estate (Regulation and Development) (Registration of Real Estate Projects, Registration of Real Estate Agents, Rates of Interest and Disclosures on Website) Rules, 2017 it is mandatory for every registered real estate agent to quote the registration number on all the documents issued relating to advertisement, marketing, selling or purchase along with the real estate project registration number.
And whereas, in order to bring about certain level of consistency in the practices of real estate agents, enhance knowledge and awareness of the regulatory, the legal framework and practices, enforcement of code of conduct and with a view to ensure that real estate agents are professionally qualified to help / assist home buyers / allottees, MahaRERA has introduced basic real estate agent training and certification course for real estate agents across the State of Maharashtra. The said aspect has been brought to the knowledge of all concerned vide MahaRERA Order No 41 /2023 dated 10.01.2023.
And whereas, the abovementioned MahaRERA Order had prescribed the timelines and the criteria applicable for every real estate agent in the matter of obtaining and submitting MahaRERA Real Estate Agent Certificate of Competency at the time of registration / renewal of registration of real estate agents.
And whereas, multiple requests have been received for extension of these timelines and in view of these requests, the following further directions are issued:
a) With effect from 01.11.2023, only those real estate agents who have a valid MahaRERA Real Estate Agent Certificate of Competency can apply for MahaRERA real estate agent registration / renewal of registration.
b) Existing registered real estate agents shall obtain MahaRERA Real Estate Agent Certificate of Competency before 01.01.2024 and upload the same at their respective web page failing which action as deemed fit shall be initiated by the Authority.
c) The mandate mentioned in Clause (a) and (b) above shall apply to the following persons:
a. 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).
b. All employees / staff / officers by whatever designation called working in firms / LLP / companies / organizations of real estate agents, who interact with homebuyers / allottees for effecting transactions in real estate projects.
d) With effect from 01.01.2024, promoters of real estate project shall ensure that the names and addresses of the real estate agents if any to be given in compliance of Section 4 (2) (j) of the Act shall be of only such real estate agents who have MahaRERA Real Estate Agent Certificate of Competency.
e) The dates mentioned in the directions issued under MahaRERA Order No. 41/2023 dated 10.01.2023 shall be considered as substituted by the dates prescribed under this MahaRERA Order.
This Order shall come into force with immediate effect.
(As approved by Authority)
(Dr. Vasant Prabhu)
Secretary / MahaRERA