RERA to make sure realty agents are genuine
After developers rush to register with RERA for their properties, it is the time for agents now. These agents too will have to prove their ‘honesty’ in real estate dealings to avoid stringent action under the new real estate regulatory authority (RERA) regime.
More than 4,300 of the 12,000 real estate agents or brokers operating in Maharashtra have registered themselves under RERA and another 4,000 may be added soon, reported by leading news daily.
The agents who have refrained from registering may not be genuine and thrive by pushing home buyers to invest in inferior or flawed properties on consumers. In Maharashtra, it is estimated that around 4,000 agents engage in such activities, the report added.
The realty agents do not have any time limit for registration, unlike developers who have to register themselves and their projects with RERA by July 31. However, the conditions remain equally stringent for brokers.