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The Maharashtra Real Estate Regulatory Authority (MahaRERA) has reported that only 7% of registered real estate agents have obtained certification by the September 1 deadline. Out of nearly 45,000 registered agents, only 3,217 have successfully completed the certification process. The low turnout has raised questions about the necessity and value of the certification, with many experienced agents finding it redundant, given the transparency of project details on the MahaRERA website. The authority may need to reconsider the deadline and address concerns within the real estate community to ensure a smoother transition for all stakeholders.
In a recent development, the Maharashtra Real Estate Regulatory Authority (MahaRERA) revealed that a mere 7% of registered real estate agents managed to secure their certification by the stipulated September 1 deadline. Earlier this year, the authority had mandated all agents to undergo a specific course and pass an examination to obtain this certification.
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Out of the 44,858 real estate agents registered with MahaRERA, a paltry 3,217 have successfully acquired the certification, as per the authority's Tuesday report. The breakdown of the examination results showed that 405 agents passed in the first attempt, while 2,812 succeeded in the subsequent one. A MahaRERA official commented on the surprisingly low turnout, hinting at the possibility of extending the deadline. The current statistics is likely to necessitate a reconsideration of the deadline.
The real estate broker community has not taken to the new developments wholeheartedly. Many experienced brokers do not see the value in certify themselves, calling the process redundant. The hefty fee of Rs 5,000 for the examination does not help either. Given that all project details are transparently available on the MahaRERA website, agents feel there is little scope to mislead potential homebuyers, and so restricting them with such certifications does little to help the customer.
The certification process is designed to equip agents with comprehensive knowledge about the MahaRERA portal. The training includes virtual tours, enabling agents to efficiently access details about promoters, projects, and legal titles. The online test, spanning an hour, evaluates agents on their understanding of the roles and responsibilities of promoters, homebuyers, and agents.
In conclusion, the low certification rate among MahaRERA-registered agents raises questions about the feasibility of the set deadline and the necessity of the test itself. As the real estate community calls for an extension, it remains to be seen how MahaRERA will address these concerns to ensure a smooth transition for all stakeholders.
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