Commencing January 1, 2024, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has introduced a pivotal mandate for new agent registrations and renewals – the requirement of a certification. Existing agents and developers' personnel are mandated to secure this certification by the specified date and prominently feature it on their respective websites. Failure to adhere to this directive may result in consequential actions, as articulated by MahaRERA officials in a recent statement.
In adherence to MahaRERA's directive, only certified agents will be listed on project websites moving forward. Presently, nearly 8,000 agents have successfully qualified through three examinations conducted by MahaRERA.
The order issued by MahaRERA on January 10, 2024, necessitates agent training and certification for registration or renewal, taking effect from January 1, 2024. This strategic initiative aims to equip agents with essential knowledge about the RERA Act provisions, ensuring they provide customers with accurate project information. This includes developer details, project rights, area specifications, and approvals – all critical elements influencing buyers' decisions.
Recognizing the pivotal role of agents in the real estate sector as crucial links between home buyers and developers, MahaRERA's initiative underscores the importance of their role. Agents serve as the initial point of contact for customers, offering primary information about the project. This move not only strengthens the real estate ecosystem but also enhances transparency, empowering home buyers with accurate and comprehensive details for informed decisions.
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"In conclusion, MahaRERA's recent mandate, effective January 1, 2024, for real estate agent certifications marks a significant step toward enhancing transparency and credibility in the industry. This directive, requiring new agent registrations and renewals to include a certification, ensures that agents possess a comprehensive understanding of the RERA Act provisions. The move not only empowers agents with vital knowledge but also assures customers of accurate project information, reinforcing trust and facilitating informed decisions. As the real estate landscape evolves with these regulatory measures, MahaRERA's commitment to professionalism and expertise is poised to shape a more robust and consumer-friendly real estate ecosystem."
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