Real estate agents in Mumbai must obtain a certificate of competency by the new deadline set by the housing regulator MahaRERA. The new deadline is November 1, 2023, for those who are new to the field and January 1, 2024, for those who are already agents. Agents who wish to apply for registration or renewal must have the certificate. The objective is to improve real estate practices, ensure consistency, and provide professional advice to buyers.
Mumbai: Real estate agents in Maharashtra now have additional time to obtain their Certificate of Competency. The housing regulator, MahaRERA, has extended the deadline to November 1, 2023, for new agents and January 1, 2024, for existing agents. This certificate is necessary for agents to apply for MahaRERA real estate registration or renewal. Agents must then upload the certificate onto the MahaRERA portal.
This extension comes after only 3,500 agents out of 45,000 registered agents took the two required examinations. MahaRERA believes that agents require a comprehensive understanding of real estate transactions to serve as intermediaries between home buyers and promoters. Therefore, formal training and certification courses were developed to ensure that agents possess the necessary knowledge and awareness of regulatory and legal frameworks.
The new curriculum includes a minimum of 20 hours of training on RERA’s legal framework with online exams. Professionally qualified agents will provide home buyers with comprehensive professional advice and help them make informed choices in the real estate market. MahaRERA also directed all promoters to ensure that their enlisted agents possess a valid Certificate of Competency from January 1, 2024.
