On November 22, the Maharashtra Real Estate Regulatory Authority (MahaRERA) is set to conduct its third online exam for real estate brokers across the state.
A total of 5,592 qualified applicants will appear for the test at 19 different locations. The candidates belong to various cities, including Mumbai, Pune, Nagpur, Nashik, Kolhapur, and Aurangabad.
A total of 3,217 candidates succeeded in the first two exams. The participation has been increasing since then. But about 13,000 of the 45,000 real estate agents who are registered on MahaRERA's portal have not renewed their registration. Currently, 32,000 registered agents are working in the field.
Earlier this year, in January, MahaRERA issued a circular asking all real estate agents to get a competency certificate after completing training and passing a written exam.
The circular said: "To guide buyers through every step of the purchase of any flat unit or building and prevent misunderstandings and disputes, estate agents should have a thorough understanding of real estate transactions. This is because they act as a public face between home buyers and promoters."
The circular went on to say that agents must enroll in official training programmes and certification exams to improve their knowledge and understanding of legal and regulatory frameworks, as well as to provide some consistency to real estate practices. Homebuyers might then receive professional assistance from agents with the necessary qualifications. This will lead to an informed decision in the real estate market. Then, the authority made a curriculum and modules and enlisted the help of four training facilities to provide online assessments and a minimum of 20 hours of instruction on the legal framework of RERA.
In the first online test conducted in May, 405 out of 423 candidates passed. In the second exam, 2,812 out of 3,010 candidates passed. Now, the deadline has been extended for all agents to receive certifications from September 2023 to January 1, 2024.
From January 1, 2024, the regulator has instructed all promoters to make sure that the real estate brokers that will market their projects have a current Certificate of Competency.
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