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Buying New Home? Is your Broker Certified

Writer's picture: Vinay ShetakeVinay Shetake

Mumbai is famous for its Bollywood, business and real estate , and to buy or rent an expensive home to a single room apartment, one is dependent on a real estate broker .


Till a few years ago, before the Real Estate (Regulation and Development) Act (RERA), anyone and everyone was a property broker, even the Panwala at the local corner could help you with buying or renting an apartment. The barber shop at the chowk was one of the most accessible locations for locals to put their home on sale or rent.


The industry has changed a lot after the Maharashtra Real Estate Regulatory Authority (MahaRERA) came into place. MahaRERA has proposed to introduce a real estate agent formal training & certification course.

Highlights about the Exam

👉 Will come into effect for all renewal & fresh registrations from 1st May 2023, 👉 All brokers need to get a Certificate of Competency before 1 September 2023. 👉 Institute of Banking Personnel Selection (IBPS) will undertake online examinations so that real estate agents who qualify it are provided with "Certificate of Competency". 👉 Online, physical and hybrid forms with effect from first week of February 2023. Real estate agents being the public face and an intermediary between the home buyers and promoters it is essential that real estate agents have comprehensive understanding of the real estate transactions in order to guide the home buyers through each stage of purchase of any plot, apartment unit or building so as to avoid any misunderstanding and disputes. It will also be applicable to all

  • Employees

  • Staff

  • Officers

  • Whatever designation

  • Working in firms

  • Working in companies

  • Working in organizations of real estate agents

  • Or Individual

who interact with home buyers and allotters for effecting transactions in real estate projects.



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