How will RERA Impact Real Estate Agents?

How will RERA Impact Real Estate Agents?

Under the Real Estate (Regulation and Development) Act (RERA), which came into force on May 1,2017, real estate agents will need to register themselves, to be able to facilitate a transaction. The broker segment in India, is estimated to be a USD 4 billion industry, with an estimated 5,00,000 to 9,00,000 brokers. However, it has traditionally been unorganised and unregulated. According to Shubhika Bilkha, business head, the Real Estate Management Institute, “In more advanced markets, real estate brokers or agents need to register, be verified and certified, in order to…

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