Why do realtors need to be registered under the RERA act?

Why do realtors need to be registered under the RERA act?-suranarealtors

Realtors:

A realtor is an agent that helps the client to find the best buyer or seller. They make the seller and buyer meet and have a fair deal. It is almost impossible to buy/sell a property without a real estate agent.  Surana realtors are one of the best Real Estate agents in Jodhpur that have every property listed on their site.  If you want to invest in Jodhpur, you will find the best deal at Surana realtors.  A realtor is an agent who helps an individual in buying, selling, or renting properties. They advise the buyer or seller about the market growth and are with them throughout the process.

RERA:

RERA stands for real estate regulatory authority, which came into force in 2016. The act was made to protect the homebuyer from the malpractice of unfair builders. The act protects the home purchase and also boosts the real estate investment; it has rules and regulations for every person related to real estate to make a real estate investment a safe option for the home buyers. The RERA act also has rules and regulations for the real estate agent. The act says that only those agents registered with RERA are eligible for dealing in real estate properties. Surana realtors are registered under the RERA act and also deal in JDA approved property in Jodhpur.

                                  Why do realtors need to be registered under the RERA act?-suranarealtors

Why do realtors need to be registered under the RERA act?

The world is filled with unfair practices and fraud, and to remove that in the real estate market, RERA has made registration compulsory for a real estate broker. The definition of a real estate agent is given in section 2(zm) of the RERA act and registration of an agent is mandatory under section 9 of the act. There are many reasons why registration is made compulsory for the realtors, and some of them are mentioned below:

  • Trust:

One of the main reasons realtors need to get registered under the RERA act is to build trust. If trust increases, it will affect the real estate market as more individuals would like to invest. It will also result in an increase in revenue and sale for both the builder and broker. With the RERA registration, the real estate agent gives assurance of the builder, and the buyer prefers to deal with the agents who have RERA registration because of the trust. There are many Real Estate Advisor in Jodhpur registered with the RERA to guide and tell you the correct path in the real estate investment journey.

  • Guarantee Transparency:

The main point of registration of the agent under the RERA act is to ensure transparency in real estate projects. If the agent is registered with the RERA, everything he does will be known by RERA.

  • Complete disclosure of projects:

Realtors who are registered with the RERA are well aware of all the details like the plan of the project, layout, government approval, and many other things. This knowledge with the agent will help the client to make a decision faster. Whether you want a commercial plot or Agricultural land in Jodhpur, the realtor will tell you every single detail about the project.

  • Complaints:

Any complaint made by the client is directly entertained by the agent registered under the RERA act. They have the power to address the complaint and give a suitable solution for the same.

  • Professionalism:

RERA has made it mandatory for every real estate agent to register themselves under the RERA act. It will increase the level of professional real estate agents has, and everything will be done professionally.

  • Recognised by the promoters:

If the real estate agent is registered with the RERA act, he will be recognized by all the promoters for the sale and purchase of the registered RERA properties.

Documents Required for RERA registration for realtors:

Below-mentioned documents are required for RERA Registration-

  • Id and address proof of the potential agent.
  • Contact Details
  • A passport size photograph of the agent
  • Particulars related to his organization such as name and registered address.
  • In case of a company, Certificate of Incorporation, PAN Card and MSME Certificate, etc.
  • Details of the Project along with the promoter details.
  • The Approved layout of the project.

                                             Why do realtors need to be registered under the RERA act?-suranarealtors

Procedure to obtain RERA Registration:

Following are the step by step procedures that realtors have to follow to obtain the registration certificate under the RERA act:

  • Application Form:

The first step is to file an application form. The real estate agent shall make an application to the authority along with the required details and documents. The application form is different for different states.

  • Submission of documents and paying off the fees:

Once the application form is submitted with the required documents, the applicant shall also pay the fees either by draft, Bankers cheque is drawn on any scheduled bank, or online payment to the real estate regulatory authority is calculated in the schedule.

  • Acceptance Or Rejection Of Application form:

The authority will either accept or reject the application form within 30 days of receipt of such an application form.

  • Issuance Of Registration Certificate:

If the application form is accepted, the authority shall issue a registration certificate to the agent.

 

 

Join The Discussion

Compare listings

Compare