Maharashtra Real Estate Regulatory Authority (Maharera) has taken a significant step towards ensuring transparency and accountability in the real estate sector by insisting that only trained and certified agents be employed. This directive aims to protect the interests of homebuyers and streamline the buying process by ensuring that agents possess the necessary knowledge and expertise.
Agents play a crucial role as intermediaries between homebuyers and developers. They are often the first point of contact for customers, providing vital information about projects. Trained agents equipped with knowledge of the Real Estate Regulatory Act (RERA) can effectively guide customers and provide them with reliable information about developers, project approvals, financial capacities, and other essential aspects.
As of January 1, all housing project promoters are required to engage the services of only trained and certified agents. Maharera has made it mandatory for promoters to disclose the names and addresses of trained agents involved in the sale of flats in their projects. Failure to comply with these guidelines may result in denial of project registration or cancellation of registration during the construction phase.
Training and Certification Process
Maharera’s order, dated January 10, 2023, mandates new registration and renewal of agents to undergo training and obtain the prescribed certificate. Extensions were initially granted to fulfill this requirement, with various awareness programs organized by self-regulatory organizations and other entities to facilitate agent training. However, as of January 1, 2024, agents must possess the necessary certification to operate in the sector.
Consumer Protection
The directive to employ trained and certified agents aligns with Maharera’s commitment to protecting the interests of consumers. By ensuring that agents possess adequate knowledge and understanding of RERA provisions, Maharera aims to enhance transparency, facilitate informed decision-making by homebuyers, and mitigate risks associated with real estate transactions.
Enforcement and Compliance
Maharera has reiterated its intention to take appropriate action against promoters who fail to comply with these regulations. Promoters are required to list trained agents on their websites and utilize their services for transactions after January 1. This stringent approach underscores Maharera’s determination to enforce regulatory compliance and uphold industry standards.
Conclusion
Maharera’s mandate for employing trained and certified agents in the real estate sector reflects a significant step towards enhancing transparency and consumer protection. By ensuring that agents possess the requisite knowledge and expertise, Maharera aims to instill confidence among homebuyers and promote a more robust and trustworthy real estate ecosystem.
