Real Estate Management Institute (REMI) in collaboration with Maharashtra Chamber of Housing Industry-MCHI and Confederation of Real Estate Developers Associations of India-CREDAI (MCHI-CREDAI) is set to launch the first comprehensive real estate broker certification program.
REMI which is the international affiliate of the Institute of Real Estate Management- IREM, USA, has developed the program to create a qualifying platform for brokers, who play an active and vital role in many types of real estate transactions.
This 30-hour part-time program spread over 3 weeks, has been carefully designed in line with global broker licensing benchmarks and in consultation with key industry associations in India. The program is aimed to create well-informed brokers by equipping them with the necessary technical, business and entrepreneurial skills.
The real estate sector of India is a substantial contributor to the GDP which accounts for 7.8 percent and is expected to be a $180bn opportunity by 2020 which will demand a skill requirement of 75 million people by 2022.
The broker segment is estimated to be a US$4 billion industry in India, with over 500,000 brokers, it has traditionally been unorganized and unregulated. The broker certification program is set to address the skill-gap and provide much needed training for the largely unorganised real estate broker.
Once implemented the Real Estate (Regulation and Development) Act, RERA 2016, real estate brokers or agents will need to register themselves to facilitate a transaction. In more advanced markets, in addition to the registration and verification process, real estate brokers and property agents need to undergo a minimum 45 hours of training, followed by annual continuing professional development (CPD) training, and successfully complete the license exam.
Shubika Bilkha, business-head, REMI, said, “Through the Real Estate Broker Certification program in collaboration with MCHI-CREDAI, we at REMI- The Real Estate Management Institute, look to facilitate industry development by increasing the number of qualified real estate brokers, who are the key facilitators of real estate transactions. Our program has been developed in conjunction with the industry and benchmarked on global broker licensing norms, to provide technical, business and entrepreneurial skills to brokers. With increased regulatory vigilance in the sector through the introduction of RERA 2016, combined with a more informed consumer of today, enhancing their knowledge and building the required skills will be an essential pre-requisite for brokers to remain competitive and stay relevant in an evolving environment.”
About The Real Estate Management Institute- REMI:
The Real Estate Management Institute- REMI is a leading institute that provides certification programs, executive courses and customized training workshops specially designed for the Real Estate Industry. REMI offers an international curriculum that trains students and professionals in global best practices through its collaboration with IREM , USA. REMI is promoted by Annet, a global leader in the field of delivering business management services, consulting and technology solutions to real estate companies worldwide.