Real estate agents are the back bone of the real estate market. They channelize the markets in which the money is either brought by the promoters or by the buyers. If we look in the developed countries, say for example US, there, an agent is valued extremely high by the general public since they realize that the agent is the medium through which a promoter and a buyer meets. Real estate agents are the catalysts through which a smooth sail of selling and purchasing can be done in the market. A promoter builds a project but he neither has the skill nor the network to sell those units and a buyer can only reach the promoter through a personal relation or through agents. But the problem in India is that with the passage of time, the general public is losing trust in the real estate agents. Even the agents know that their image in the eyes of common man has gone from bad to worse, and now this thing has become so extreme that the young generation finds this a work of thieves and goons. However, one should always keep in mind that not all the agents are thugs, many of them do their job very honestly. Thus, the government had to come up with an answer for the losing faith of our real estate agents. This answer is RERA. RERA with, Central Advisory Council and Real Estate Appellate Tribunal has been formed so that people can regain trust in our nation’s real estate agents and also to strictly penalise the defaulters due to which an unbalance is created in the public.
RERA Consultancy is making the real estate agents and buyers aware of the new guideline set by RERA for the agents and also it will provide the consulting service to the agents to get registered by RERA.
Following are the practical steps i.e. steps which will directly lead an agent to get registered with RERA. Also, we want agents to realize their duties towards the people who give their entire life savings to own a house.
- It is now a compulsion for an agent to get registered with RERA. Without this registration, he will be ineligible to sell or advertise a property.
- Registration will be a simple process, as the agent only has to submit all the documents asked by the authority. We will update the requirements of the authority. We will also support the agents for registration.
- We all know that somewhere down the line, the government also becomes a part of unethical behaviours of some agents by delaying their approvals. This can come as good new to the existing and budding agents as now the government has to either register of reject their application with in the given amount of time and also, it has to give a written clarification that on what grounds is the applicant is getting rejected. If the government fails to do these steps, a person automatically becomes an agent.
- The agent must have all the records of the promoters as well as their projects. These documents should be presented to the buyers as and when required.
- He should not advertise or misguide the general public with the facts of the project that are false.
- He should understand that being an agent is a responsibility to fairly handle the hard earned money of a common man. Thus, he should not try to trick a customer by giving him false information or by any method. A real estate agent must understand that a buyer, very rarely knows the laws when buying a house and it’s his duty to introduce each law to the eyes of a buyer.
These is the summary of the role of real agent and his registration process. The government has wisely chosen these steps as it wants to create a long run of trust building between an agent and the buyer. Our consultancy will help the agents to get accustomed to the registration process and do not feel any kind of hesitancy towards registering themselves. We will help to build a stronger relation between the buyer and an agent by providing proper assistance and interactions. RERA Consultancy will guide the agents who gets rejected as our team has done a complete research on the rules and regulation and documentations required to get registered with RERA. We will make sure to draft a flawless application so that the process gets easier.
All this is done so that the buyer can gain confidence with the agents. The massive efforts from the government and RERA Consultancy would mean nothing if the common man does not see this as an opportunity which can be profitable to all. A buyer must keep a broader mind and understand the complete picture.