MahaRERA's Real Estate Agent Exam Sees 87% Pass Rate, Over 13,000 Qualified Agents in Maharashtra
A significant 87% of candidates clear MahaRERA's exam for real estate agents in Maharashtra, with over 13,000 agents qualified to date. Learn about the mandatory requirements and training for agents.
MahareraReal Estate AgentsMaharashtraRera ActTraining And CertificationReal Estate NewsAug 05, 2024
The Maharashtra Real Estate Regulatory Authority (MahaRERA) had earlier suspended the registration of over 20,000 agents who failed to meet the mandatory requirements of training and certification. A real estate agent plays a crucial role in the home buying process, serving as a link between homebuyers and developers. It is essential for agents to be well-versed in the provisions of the RERA Act, including aspects such as developer credibility, land titles, RERA-compliant carpet area, and local authority approvals.
According to MahaRERA, agents need to have knowledge about various aspects of the project and the real estate industry. This includes understanding the agreement for sale, allotment letter, carpet area, and defect liability period, among others. Homebuyers rely on the information provided by agents to make informed purchase decisions.
A total of 13,370 candidates have so far qualified to become real estate agents in Maharashtra. Of the 47,000 agents registered with MahaRERA, the registration of 13,785 agents was cancelled owing to non-renewal, while over 20,000 agents were suspended for failing to meet the mandatory training and certification requirements.
MahaRERA had issued an order in January last year making it mandatory for real estate agents to undergo training and get certified. This move aims to bring transparency and accountability in the real estate industry, ensuring that agents have the necessary knowledge and expertise to guide homebuyers.
By bringing in this regulation, MahaRERA aims to protect the interests of homebuyers and promote a healthy and transparent real estate market in Maharashtra.
The authority has been working towards creating a more organized and structured real estate industry, and the successful completion of the agents' exam is a significant step towards achieving this goal.
With over 13,000 qualified agents, MahaRERA is confident that the real estate industry in Maharashtra will see a positive transformation, with agents playing a key role in promoting transparency and accountability.
The authority will continue to monitor the performance of real estate agents and take necessary action against those who fail to meet the required standards.
Frequently Asked Questions
What is the pass rate for MahaRERA's real estate agent exam?
The pass rate for MahaRERA's real estate agent exam is 87%.
How many candidates have qualified to become real estate agents in Maharashtra?
A total of 13,370 candidates have so far qualified to become real estate agents in Maharashtra.
What is the role of a real estate agent in the home buying process?
A real estate agent serves as a link between homebuyers and developers, providing potential homebuyers with initial information about projects.
What are the mandatory requirements for real estate agents in Maharashtra?
Real estate agents in Maharashtra are required to undergo training and get certified, as per MahaRERA's regulations.
What is the goal of MahaRERA's regulation for real estate agents?
The goal of MahaRERA's regulation is to bring transparency and accountability in the real estate industry, protecting the interests of homebuyers and promoting a healthy and transparent market.
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