MahaRERA extends Real Estate Agent certification deadline

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has made some important updates regarding the certification requirements for real estate agents. The deadline for new real estate agents to obtain their Certificate of Competency has been extended from September 1, 2023, to November 1, 2023. Additionally, existing 40,000 agents must secure their certificates by January 1, 2024. According to an official order, starting from November 1, 2023, only real estate agents possessing a valid MahaRERA Real Estate Agent Certificate of Competency will be eligible to apply for MahaRERA real estate agent registration or renewal. The order also emphasises that currently registered agents should acquire their certificates by January 1, 2024, and upload them onto their respective profiles on the MahaRERA portal. Previously, the Authority had set a September 1 deadline for all agents to attain professional certification. However, out of the 45,000 registered real estate agents, only 3,500 agents participated in the two examinations conducted by the regulatory body. On January 10 of this year, MahaRERA issued a circular mandating that all real estate agents undergo training and pass a written examination to obtain a Certificate of Competency. The circular underscored the pivotal role of real estate agents as intermediaries between homebuyers and promoters, emphasising the importance of their comprehensive understanding of real estate transactions to prevent misunderstandings and disputes. Furthermore, the circular highlighted the necessity for agents to undergo formal training and certification courses, which would standardise real estate practices, enhance knowledge of regulatory and legal frameworks, and enable professionally qualified agents to offer homebuyers informed advice in the real estate market. To facilitate this, the Authority developed a curriculum, collaborated with four training institutions, and mandated a minimum of 20 hours of training on RERA's legal framework, culminating in online exams. Additionally, the Authority has directed all promoters to ensure that real estate agents enlisted to market their projects under Section 4 (2) (j) of RERA possess a valid Certificate of Competency, effective from January 1, 2024.