RERA for Real Estate Agents
To stimulate fair practice of doing business in the real estate sector, RERA mandates intermediaries (including intermediary websites) to get themselves registered and retain a valid RERA registration number before facilitating any real estate deal on the behalf of any real estate developer.
The intermediary is also required to maintain and preserve account logs and other documents as prescribed by the Act. Also, he/she must facilitate all information and provide any further assistance as prescribed by the Act to the consumer.
If the intermediary fails to comply with the duties and responsibilities prescribed by the RERA, his/her registration can be revoked. Further, he/she can be penalized up to Rs 10,000 per day, which may extend up to 5% of the total estimated cost of the unit in question. The intermediary can also face imprisonment up to one year if he/she breaches any orders given by the Appellate Tribunal.
Advice to Real Estate Agents from Realestatelawz
- Respect and follow the regulations prescribed by the Authority
- Be very informative and make sure that have sound knowledge of real estate market
- Conduct real estate brokerage business with trust & integrity and provide your best value services to the parties
- Keep the parties updated of all the facts, information and circumstances
- Give fair and respectful treatment to the parties involved in the transaction
- Ensure confidentiality and privacy of parties’ information
- Avoid giving forgery or false information to the parties
- Make transaction transparently and protect the interests of the contracting parties
RERA Forms for Agents
|APPLICATION FOR REGISTRATION OF REAL ESTATE AGENT FORM – G||Download|
|REGISTRATION CERTIFICATE OF REAL ESTATE AGENT FORM- H||Download|
|INTIMATION OF REJECTION OF APPLICATION FOR REGISTRATION OF REAL ESTATE AGENT / REJECTION OF APPLICATION FOR RENEWAL OF REGISTRATION OF REAL ESTATE AGENT / REVOCATION OF REGISTRATION OF REAL ESTATE AGENT FORM – I||Download|