NAR-India Urges Members to Sever Ties with MagicBricks Over Misrepresentation Allegations
The National Association of Realtors (NAR) - India has directed its members to cut ties with MagicBricks due to allegations of misrepresenting brokers and engaging in unethical practices.
Real EstateNarindiaMagicbricksReraEthical PracticesReal Estate MumbaiApr 28, 2025
NAR-India has been a staunch advocate for ethical practices in the real estate industry, ensuring that brokers and agents operate within the bounds of the law and maintain the highest standards of professionalism. The directive to cut ties with MagicBricks comes after a thorough investigation into the platform's operations, which revealed multiple instances of alleged misconduct.
According to NAR-India, MagicBricks has been accused of misrepresenting the qualifications and credentials of brokers listed on its platform. This includes falsifying information about their experience, licenses, and certifications, which can mislead both potential clients and other real estate professionals. The association has also raised concerns about MagicBricks' failure to comply with the Real Estate (Regulation and Development) Act (RERA), which mandates transparency and accountability in the industry.
In a statement released to the media, NAR-India emphasized the importance of maintaining trust and integrity in the real estate market.
Frequently Asked Questions
What is NAR-India?
NAR-India, or the National Association of Realtors - India, is a professional organization that represents RERA-registered and licensed real estate professionals in India. It advocates for ethical practices and supports its members in maintaining high standards of professionalism.
Why did NAR-India ask its members to cut ties with MagicBricks?
NAR-India directed its members to sever ties with MagicBricks due to allegations of misrepresenting brokers and engaging in unethical business practices. The platform was also accused of failing to comply with the Real Estate (Regulation and Development) Act (RERA).
What is the Real Estate (Regulation and Development) Act (RERA)?
RERA is an act enacted in 2016 to regulate the real estate sector in India. It mandates transparency, accountability, and protection of homebuyers' interests in real estate transactions.
What are the potential consequences for MagicBricks due to NAR-India's directive?
The directive from NAR-India can have significant repercussions for MagicBricks, including a loss of business from NAR-India members, damage to its reputation, and potential legal and regulatory actions.
How can real estate professionals ensure they are operating ethically?
Real estate professionals can ensure they are operating ethically by adhering to professional standards, complying with regulations like RERA, being transparent with clients, and maintaining accurate and honest representations of their qualifications and services.
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