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Q:Is there a possibility of suspension of registration? 

A:Yes. In case a real estate agent violates the RERA rules, it can lead to his/her registration getting suspended. Additionally, the registration can be canceled in case of breach of terms or securing of registration through misrepresentation and fraud.

Q:How to be successful in the real estate business?

A:Effective marketing, transparency, networking, good planning, and maintenance of schedules are key factors for becoming a successful real estate agent.

Q:Is there any fee for a real estate agent’s registration? 

A:Yes. In Karnataka, the registration fee for an individual is Rs. 25,000 and Rs. 2 lakhs for non-individuals. The fee further varies from one state to another.

Q:How long does it take for a real estate agent to get registered?

A:The registration certificate and number are provided to the agent within 30 days from the date of application.

Q:What is the validity period of RERA registration? 

A:Once issued, the registration is valid for a period of 5 years. Renewal of registration must be done at least 60 days prior to its expiry.

Practices to Avoid as a Real Estate Agent

Now that you know how to become a real estate agent in India, let us look at some of the practices that a real estate agent should avoid in order to be successful and stay out of trouble: 

• Don’t carry out your business without registering with RERA first.
• Avoid getting registered through fraud or misrepresentation.
• Avoid saying ‘No’ to small, last-minute jobs just because they’re not listed in your job description. Taking care of last-minute chores could actually help you close the deal.
• Don’t give false expectations to clients.
• Avoid wasting your client’s time with poor communication, the sudden cancellation of plans without valid reasons, not returning calls, etc.
• Avoid selling unregistered property.
• Avoid getting into fraudulent activities and unfair trade practices.
• Don’t be the one who loses important information and client or land documents.
• Avoid advertisement of services that will not eventually be offered to the client. 
• Avoid having bitter relationships with your peers and competitors who are doing well in the business.
• Avoid filing any fee disputes against your client.
• Avoid favouring your own interests over your client’s or prioritizing one client’s interests over another.
• Avoid fraudulent, unethical, and/or discriminatory clients. 

The information provided above is sure to have answered your question – how to become a real estate agent in India. Becoming a property dealer is not very challenging, provided you possess proficient knowledge about the real estate sector and have a knack for it.  

If you register under RERA and receive your license/certificate, you can proudly say that you’re a professional real estate agent. Furthermore, with certain tactics and qualities, you can have a highly successful real estate career.

What Are the Disadvantages of Non-Registration?

Every aspiring real estate agent wants to know how to become a real estate agent in India. As we’ve already seen, the first and most important step is to register under RERA and obtain a professional license. If any broker or agent continues to do business without registration, he/she will be liable to pay a penalty of Rs. 10,000 per day in case of any defaults. The penalty price may also extend up to 5% of the cost of the property that he/she is selling.  

A major disadvantage of non-registration is that an agent will not be authorized to sell properties or involve in any real estate business. Furthermore, a penalty of up to 5% will be applicable in the event of non-compliance with the orders of RERA. In case of indulgence in any kind of unfair trade practices, the agent will be subject to one year of imprisonment.

How to Become Real Estate Agent in India – Eligibility Criteria

Anybody with adequate knowledge in the field, excellent networking, and negotiating skills, and who’s up to date with market trends can register to become a real estate agent. While there are no minimum qualifications mandatory to head in this career direction, it’s essential that one fulfils a few basic requirements as listed below:

• The individual’s age must be at least 18 or 19 years, depending on the state from which he/she is applying.
• He/she should clear the concerned state’s real estate license examination.
• Should complete the necessary pre-license education as per the state’s educational qualification requirements for becoming a licensed real estate agent. 

To become a real estate agent and have a successful career in the competitive real estate market, it’s important to comprehend consumer behaviour and the marketing strategies required to grow. Here are some essential qualities that a real estate agent should have: 

Networking – Networking holds utmost importance in the real estate business. Stay connected with your peers and fellow agents at all times; they’ll be able to give input when you’re dealing with difficult clients or projects with unexpected challenges. Additionally, becoming a part of groups like the National Association of Realtors (NAR), Association of Certified Realtors in India, and All India Real Estate Agents Association will help enhance your network globally.  

Transparency – In addition to knowing how to become a real estate agent in India, it’s essential to follow certain guidelines like transparency to be successful. If you’re unclear about any aspect of the property, unsure about the builder’s track record, or unaware of the property’s details, make sure to be open about it with your client. Any legal hassles or risks associated with buying the property must be conveyed to the client. 

Avoid assumptions – When it comes to documentation, property valuation, legalities, and other vital information, avoid making any assumptions. Make sure to rely on facts and facts only. 

Referrals – A good real estate agent has happy customers. It’s not enough if you just know how to become a real estate agent in India. You need to learn from fellow agents, work hard, deliver your best and win your client’s trust. Doing so will get you referrals from your valued clients and help create a name in the real estate market. 

Online presence – In this digital era where everyone relies on information online, creating an online presence plays a crucial role in gaining credible customers and boosting your business. Have a business listing in Google, an active social media page, and/or a basic website where potential clients can research about your business and connect with you. When prospective clients get to connect with you easily, it increases your chances of getting business from them. 

Consultant role – If you want to know how to become a property dealer who is successful in the competitive market, it’s important that you don’t just focus on selling. Acting as a consultant rather than merely a sales agent will help you understand client requirements, provide them with suitable options and help them find what’s best for them. This will not only ensure customer satisfaction but also help you gain clients’ trust and, in turn, get testimonials from them.