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RERA - Impact of Registration of Real Estate Agents

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RERA - Impact of Registration of Real Estate Agents

Last updated: January 9 2018
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  • RERA - Impact of Registration of Real Estate Agents

    I read the RERA Notification on the real estate agents registration and it sounded superficial. I would be happy to register with whatever fee the Authority wants us to do.

    However, my questions are:

    (i) How do I benefit by registering as a real estate agent?
    (ii) What happens to my competition in business who is not registered?

    If I am permitted to charge and command a better fee on registration AND if one is not permitted to act as an agent if he is not registered, then the registration actually makes sense. Else it is very superficial and a cosmetic clause. I stand for correction for my limited knowledge on this subject.

    Any expert can come forward and guide me and people like me?
    Last edited January 9 2018, 03:16 PM.
  • #2

    #2

    Re : RERA - Impact of Registration of Real Estate Agents

    Some points:

    (i) No one respects brokers (aka agents) in India. You will be respected and trusted if registered. Besides, a fancy tag can be kept under your name - Mr. ABC, RERA Registered Agent.

    (ii) Every rule is meant to be broken in India. So, others would survive too, illegally selling the properties.

    My opinion is that RERA would not make miracles either for customers or agents. It's just media hype to get more visual thumbprints and revenue. Right now, the central government has provided only guidelines and it is up to the states to frame the act. May 01, 2017 is the deadline but still many states including Karnataka has not made it an act.

    Corruption is well-known in India and this too shall pass.
    Last edited January 9 2018, 03:17 PM.

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    • #3

      #3

      Re : RERA - Impact of Registration of Real Estate Agents

      This is something that should be talked about. Is there any data available online about the number of real estate agents who have registered with RERA till now?

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