RERA registration for agent brokers is now a compulsion without this RERA registration he will be ineligible to sell or advertise a property. For selling of old property as per well as new property RERA registration is needed. As per section 9 of “Real Estate (Regulation & Development) Act, 2016 (REDA) read with Rule 11 of above mentioned Rules, Every real estate agent need to take prior registration with RERA authority of Maharashtra before dealing in any transactions relating to sale/purchase, advertising or brokerage of property of a project registered under this Act. RERA Registration online process helps to get certificate on fast track mode. Real estate agent and brokers are connecting bridge between builders and investors.
RERA Agent Registration
“Real estate agent” means any person, who negotiates or acts on behalf of one person in a transaction of transfer of his plot, apartment or building, as the case may be, in a real estate project, by way of sale with another person or transfer of plot, apartment or building, as the case may be, of any other person to him and receives remuneration or fees or any other charges for his services whether as commission or otherwise and includes a person who introduces, through any medium, prospective buyers and sellers to each other for negotiation for sale or purchase of plot, apartment or building, as the case may be and includes property dealers, brokers, middlemen by whatever name called.”
Benefits of RERA Agent Registration
Real estate agent and brokers are connecting bridge between builders and investors.
- Trust is likely to be increased between investors’ and home buyers’ trust is likely to increase.
- RERA registration is important is sale propery , do advertisement etc.
- RERA registration will bring accountability between agent and investors
- RERA registration will do real estate agent more professionals
Check list of documents for RERA Agent Registrations
- PAN, Aadhar card No, DIN and Recent colour photographs (of proprietor, partners, directors or trustee)
- Registered address of place of business
- Authenticated copy of partnership deeds, memorandum of association, articles of association, etc, as the case may be.
- Authenticated copy of the proof of address of the principal place of business,
- Number of branch offices with contact details.
- Income-tax returns for last three financial years preceding the application or in case the applicant was exempted from filing returns in any of the three year preceding the application, a declaration to such effect
- Details (if any) of all real estate projects he worked
- Details of civil, criminal cases pending against him if an individual or any of the partners, directors, trustees, or any other entity
- such other information and documents, as may be specified by regulations.
Highlights of RERA Registration
Penalties for Real Estate Agent would face if he fails to adhere to MahaRERA?
If any real estate agent fails to register and contravenes the provisions of section 9 or section 10 of the Act, he shall be liable to a penalty of ten thousand rupees for every day during which such default continues, which may cumulatively extend up to five per cent of the cost of plot, apartment or buildings, as the case may be, of the real estate project, for which the sale or purchase has been facilitated as determined by MahaRERA.
Will the registration of MahaRERA be operated in other states?
No. The registration is valid only for Maharashtra region
. If real estate agent is not listed with promoter's registration at MahaRERA website, still can he sell in this project?
No. If the promoter has not included the real estate agent’s name at the time of registration, it will have to be included by the promoter, subsequently, and up dated in the MahaRERA website. The real estate agent can operate in the project only thereafter.
Will listing websites / newspapers/ exhibitions promoting real estate needs to take agents’ license?
Yes, if they intend to facilitate the sale or purchase of or act on behalf of any person to facilitate the sale or purchase of any plot, apartment or building, as the case may be, in a registered real estate project being sold by the promoter in any planning area.