The Maharashtra Real Estate Regulatory Authority (MahaRERA) has allowed institutional real estate consulting firms to self-train staff for appearing in the regulator’s competency examination. MahaRERA said corporate real estate agents having at least 500 employees on the payroll will be eligible to self-train staff to take the MahaRERA exam.
Hitherto, MahaRERA has been allowing selected empanelled institutions to train real estate staff.
Through a January 10, 2023 order, the regulator made it mandatory for real estate staff to be trained for the competency examination because they are the major bridge between developers and homebuyers.
What did the MahaRERA order say?
"Large real estate agent organisations have requested that they have strong in-house training capacity to internally train their employees/staff who interact with home buyers/allottees on the MahaRERA prescribed curriculum. In view of above, corporate reaI estate agents that meet mentioned criteria may be considered as eligible for providing MahaRERA prescribed real estate agent training," said MahaRERA in an order dated June 02, 2023.
Also read: 95 percent of real estate agents clear competency exam conducted by MahaRERA
MahaRERA has listed six conditions that large organisations have to meet for self-training their staff. They include a condition requiring that they must have at least 500 full-time employees who interact with homebuyers, must possess strong in-house training capacity, and experience in training their employees.
In Maharashtra alone, more than 39,000 registered real estate agents need to undergo training and sit for the examination to have their registration renewed.
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