5 Things To Check Before Choosing a Real Estate Agent
There comes a time in one’s life when one has to look outside for guidance and it is sure to be a humbling experience. This rings especially true when it comes to buying a home. While trying to find a home out of thousands of options available is a daunting task in and of itself, the actual buying process is an entirely different ballgame. Here’s where real estate agents come in. They seem like the north star, guiding us through the often excruciating and exhausting process of buying your dream home. But what can you do to ensure that the one you are following is the north star and not just a mirage?
- Verify MahaRERA Registration:
The first step is to find out whether they are registered in MahaRERA. MahaRERA, for those unaware, is the regulatory authority for the real estate market in Maharashtra. Since May 2017, it has been mandatory for all real estate agents in Maharashtra to register with MahaRERA. Furthermore, they must prominently display their registration number and QR code on all promotional materials. With all these regulations around, all that’s left for you to do is to confirm that the agent they are dealing with has a valid registration, as this serves as a primary indicator of their credibility. - Check Competency Certification:
Real estate agents also have to clear a competency certification examination mandated by MahaRERA. It guarantees that the agent is knowledgeable and well-versed in the nuances of the real estate market and regulations. You, as a homebuyer, can request to see this certification to decide whether the real estate agent is worth your money. - Review Progress Reports:
MahaRERA has directed all registered agents to submit half-yearly progress reports, starting from the financial year 2023-24. These reports provide insights into the projects represented by the agent, along with transaction details. Reviewing these reports can help you assess the agent’s performance and the legitimacy of the projects they are associated with. - Verify Registration Status on MahaRERA’s Website:
The MahaRERA website plays a crucial role in ensuring the credibility of a real estate agent. By verifying the registration status of the agent, you can confirm whether the agent is currently authorized to operate. - Understand the Importance of the Competency Exam:
The competency exam has proven to be a critical measure to ensure that real estate agents are equipped to guide homebuyers effectively. Agents play a vital role in educating and assisting buyers through complex property transactions. A certified agent is more likely to provide accurate advice, making the buying process smoother and more secure.
As a homebuyer, it is your responsibility to ensure that the real estate agent you are trusting with your dream is qualified enough to help you achieve it. Make sure they have the proper training and credentials to guide you through this important process. On that note, happy house hunting!
