RERA Registration for Agent- An Overview

Are you a real estate agent engaged in the purchase and sale of properties in registered projects? If yes, you must register with the Real Estate Regulatory Authority. RERA registration for agent is required to ensure that you are a qualified professional working in the real estate industry.

Before becoming a real estate broker in India, it is mandatory to obtain online RERA registration for agents as per the Real Estate (Regulation and Development) Act, 2016. At Fastzeal, we assist you in obtaining this registration. RERA Registration for Agent is essential for any real estate agent dealing with properties registered under the RERA Act.

If you are a real estate agent involved in advertising, marketing, booking, selling, or offering properties like plots, apartments, or buildings for sale, RERA registration is a key requirement for you that you can’t miss. Get Fastzeal expert assistance for online RERA registration for agents.

Who is Real Estate Agent?

A "real estate agent" is an individual who acts on behalf of another person in a real estate transaction and earns fees for their services. The agent assists clients with buying, selling, or renting properties. They offer valuable advice on the current market scenario and provide support throughout the process of buying, selling, or leasing properties.

RERA registration for agent brokers is now mandatory for those agents engaging in selling or advertising a RERA-based property. Meanwhile, for selling both new and old property, RERA broker registration is needed.

Why RERA Agent Registration is Required?

Anyone who wishes to act as a middleman or broker in real estate transactions and earn fees for their services must secure RERA agent registration from the respective state authority. Therefore, only agents with agent registration in RERA are authorized to deal with projects covered under the RERA Act.

Functions of Real Estate Agents

The list of functions of Real estate agents with RERA certificate for agents are as follows:

1. Not engage in selling or purchasing any plot, apartment, or building in a real estate project not registered with the concerned authority.
2. Preserve and maintain books of account, records, and documents as prescribed by an act.
3. Not engage in any unfair trade practices, particularly making any statement, either orally or in writing, falsely describing a particular standard or grade.
4. Avoid engaging in unfair trade practices, especially refraining from making false statements, whether spoken or written, about the services' standard or grade.
5. Falsely representing that the promoter or oneself has approval or affiliation, which they actually don’t have.
6. Make false or misleading representations concerning the services.
7. Permitting the publication of any advertisement in any newspaper or other medium for services not intended to be offered.
8. Various other functions as may be prescribed by the RERA Act.

Benefits of Agent RERA Registration

The list of benefits of agent RERA registration is as follows:

1. Ensures Transparency

The primary purpose of obtaining online RERA registration for agents is to ensure transparency in real estate projects, creating a clear and trustworthy environment for both buyers and sellers.

2. Builder's Trustworthiness

Agent RERA registration helps agents vouch for the credibility of builders, as buyers tend to prefer dealing with builders who are RERA-registered, ensuring confidence in their investments.

3. Full Disclosure of Project Details

Agents with RERA registration are well-versed in project details, including plans, layouts, and government approvals, providing clients with all the necessary information to make informed decisions.

4. Addresses Complaints

Any complaints or grievances raised by clients or investors are directly addressed by agents registered under RERA, ensuring quick resolution and customer satisfaction.

5. Complete Information of Builder

RERA registration for agent allows buyers and investors to access complete information about the builder or developer, enhancing transparency and trust in the transaction.

Documents Required for RERA Agent Registration

The list of documents required for RERA agent registration is as follows:

1. PAN Card
2. Aadhar Card
3. Last Three ITR Copies
4. Agent Invoice
5. Contact details
6. Details of the type of organization (private, public company, sole proprietor)
7. Articles of Association
8. Memorandum of Association
9. Proof of address of the business entity

How to Apply for Online RERA Registration for Agents?

Each state has its own RERA website. However, the common process to apply for online RERA registration for agents is as outlined below:

1. Every real estate agent must submit an application for registration to the respective State Real Estate Regulatory Authority's official website.
2. The application must be accompanied by the required paperwork and fees as prescribed by the law.
3. Upon review, the authority will grant registration for the respective state, provided the application meets the necessary criteria.
4. The authority may reject the application if there is sufficient reason for rejection, but the applicant will be given an opportunity to be heard before the rejection.
5. If the applicant does not receive any response from the authority, the application is considered accepted.

Penalties Associated with Agent RERA Registration

The penalties associated with agent RERA registration are as follows:

• Penalty for Default: The agent may incur a fine of 10,000 per day, which can go up to 5% of the property's cost (plot or building).
• Punishment for Unfair Practices: Engaging in unfair trade practices may result in imprisonment for up to 1 year.
• Penalty for Non-Compliance with REM Orders: A fine of up to 5% of the property’s cost may be imposed.
• Non-Compliance with Appellate Tribunal Orders: The penalty may include a fine of up to 10% of the property’s cost, imprisonment for up to 1 year, or both.

Reasons to Trust Fastzeal for RERA Registration for Agent

Given below are the reasons to opt for Fastzeal for RERA registration for agents are as follows:

• Expert Assistance in the RERA Registration Process
• 10+ Years of Experience in Securing RERA Certificate for Agents
• Client Database of 5000+ Real Estate Agents
• Compliance Management Solutions for Online RERA Registration for Agents
• Dominating the Real Estate Industry with a 75% Market Share
• Understanding the Pitfalls and Broker RERA Registration Requirements
• Assistance in Timely Submission of RERA Registration Application for RERA Agent Registration
• Ensuring Guaranteed Acquisition of RERA Registration for Agents Conveniently
• 24/7 Support for Agent Registration in RERA