The results of the third exam for real estate agents conducted by Maharashtra Real Estate Regulatory Authority (MahaRERA) in the immovable property sector were announced on December 7, with 89% of the 4954 candidates passing. With 4461 candidates successful, 3803 are male and 658 females. Two candidates aged 80 and above add uniqueness to the results. MahaRERA has mandated the exam to certify and train the real estate agents and keep the agents informed to bring in awareness and uniformity in the sector. The deadline for obtaining certifications for all agents is January 1, 2024.
The results of the third exam for real estate agents in the immovable property sector, held on November 22, has been announced on December 7. Out of 4954 candidates, 4461 have successfully passed the exam, achieving a pass rate of 89%. The pass rates for the first and second exams were 96% and 93%, respectively.
Out of the 4954 candidates, 4461 have qualified successfully. This includes 3803 males and 658 females. Notably, two candidates are 80 years old, one with the age of 85 and the other 82, adding a unique feature to the results.
In the overall rankings, Pallavi Upadhyay from Mumbai, Anilkumar Khandelwal from Thane, and Sunny Duggal from Raigad secured the first position with a 98% score.
The first online examination in May saw 405 candidates out of 423 clearing the exam. The participation increased to 3010 candidates in the second examination out of which 2,812 passed. So far, a total of 7678 candidates have qualified for the real estate agent status including 4461 from the current exam.
The examination has seen participation from Mumbai, Pune, Nagpur, Nashik, Kolhapur, Aurangabad. A smaller number of candidates also appeared from Akola, Amravati, Chandrapur, Dhule, Jalgaon, Latur, Nanded, Pandharpur, Wardha, Ahmednagar, Sangli, Satara and Solapur.
MahaRERA has 45,000 real estate agents registered on its portal, but some of them have not renewed their registration. So, presently, around 32,000 registered agents are active in the industry.
The assessment exam has been made mandatory by Maharashtra on the ground that real estate agents are an important bridge between homebuyers and developers. The exam aims to ensure agents have a comprehensive understanding of real estate transactions to guide buyers and avoid misunderstandings or disputes. Based on this, a circular was issued on January 10, 2023. MahaRERA also directed all promoters to ensure that the real estate agents they enlist to market their projects should possess a valid Certificate of Competency with effect from January 1, 2024.
The circular directed all registered real estate agents to obtain a certificate of competency after undergoing training and clearing a written examination. The MahaRERA certification emphasizes the importance of real estate agents in the home buying and development process. Clients often first come in contact with agents, who provide them with essential project-related information. This would bring a certain level of consistency in real estate practices and enhance knowledge and awareness of regulatory and legal frameworks. Professionally qualified agents could then provide home buyers with comprehensive professional advice and help them make an informed choice in the real estate market.
MahaRERA then finalised a curriculum and modules, brought in four training institutions to conduct a minimum of 20 hours of training on RERA’s legal framework and conduct online exams. The circular stated the deadline to be September 2023. However, MahaRERA has extended the deadline for obtaining certifications for all agents from September 2023 to January 1, 2024.
Further, in an order issued on February 13, the authority had directed real estate agents to make half-yearly progress reports public from the next financial year. In their progress reports, the agents will have to furnish information on projects where they have been designated by developers to handle sales, and other details including transactions in a particular real estate project. Financial details relating to the fees levied by the real estate agent against transactions will, however, be excluded.
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