Selling and buying a property in the property landscape of India is not only a tedious task but also extremely demanding. One must be aware of the aspects of competition in real estate, including the factors involved, the decisive components, negotiable skills, and more to drive the best price possible for a given property. This whole process is a job description in itself, something that suits the liking of a real estate agent. Their job involves dealing with the sellers and buyers and handling all the formalities by themselves. If this is something that has your interest in place, then you may surely become a real estate agent, given you follow certain steps. Get to know how to become a real estate agent in India in this blog!
This Blog Includes:
- Roles and Responsibilities of a Real Estate Agent in India
- Eligibility Criteria for Becoming a Real Estate Agent in India
- Courses to Pursue a Career as a Real Estate Agent
- Top Colleges in India
- The Real Estate Regulation Authority (RERA): Registration and License
- Skills Required to Become a Real Estate Agent in India
- Job Roles and Salary
- Areas of Employment
Roles and Responsibilities of a Real Estate Agent in India
Starting with, let’s understand the role and responsibilities of a real estate agent in India. Shared below are the broader aspects of the job profile of a real estate agent.
- To facilitate the sale and purchase of properties between the sellers and buyers.
- To maintain the record and books of account, preserving the entire process in its documentation.
- To provide guidance and assistance to sellers and buyers in procuring the best deal and the best price.
- To analyse the market trends and estimate the property’s value against the competition.
- To update the listings of available properties.
- To maintain communication channels with the sellers and buyers.
- To cooperate and coordinate with lenders, attorneys and contractors.
- To continue to have the required skills and needed knowledge to continue as a real estate agent.
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Eligibility Criteria for Becoming a Real Estate Agent in India
How can one know if they are eligible to become a real estate agent? Getting to know about the eligibility requirements help prospective candidates prepare for the career of a real estate agent. The below-mentioned points share the same defined requirements.
- Though there is no specified need for a specific set of educational requirements, a degree in business administration or business helps the candidate become privy to the technical aspects of becoming a real estate agent, and the same is also preferred in the career field of the job.
- The candidates must be registered with RERA (Real Estate Regulatory Authority) under the Real Estate Regulation And Development Act 2016 in India.
- Therein, the agents must register their businesses, and provide information such as their business details, income details, and certificate of police verification.
- The real agent must have applied for Professional Tax Registration (PTR).
- Furthermore, one can obtain an in-depth knowledge of the subject by pursuing a postgraduate degree that shall highly benefit them in their career field.
Courses to Pursue a Career as a Real Estate Agent
If you are wondering about the suitable courses to pursue right from the beginning, then some shall prove to be useful for you in becoming a real estate agent. Check the same out below.
|Undergraduate Courses||Postgraduate Courses|
|Bachelor of Business Administration (BBA)
BBA in Marketing
B. Tech in Civil Engineering
BBA in Real Estate and Urban Infrastructure
|Master of Business Administration (MBA)
MBA in Marketing
MBA in Real Estate and Infrastructure
MBA in Sales and Marketing
Also Read: Best Real Estate Courses in India & Abroad
Top Colleges in India
Now that the blog has shared information about basic educational qualifications, what are some of the colleges that act as some of the best in helping students become real estate agents? We have shared a list below.
|Name of College||Location|
|Adithya Institute of Technology||Coimbatore|
|DY Patil School of Management||Mumbai|
|GIBS Business School||Bangalore|
|MIT Art and Design Technology University (MIT ADTU)||Pune|
|Vivekananda Global University (VGU)||Jaipur|
|Sree Sastha Group of Institutions (SSGI)||Chennai|
The process of registering yourself with the RERA starts with visiting the official website of the RERA of the specific state. With an example of Maharashtra, follow the below steps to register on the website:
- Visit the official website and go on clicking the ‘Online Application’ visible on the homepage.
- Therein, click on the ‘new registration’.
- Continue to mention the user type and fill in all the details.
- Verify your email address, and receive the registered account that you can then log in to.
- After registering an account, the applicant can move on to fill out the required application form on the website.
- Along with the same, a specific fee has to be paid, which varies according to the state.
- The applicant can decide whether to register as an individual or as a real estate agent company.
- All the required documents must be submitted along with the form.
- The agents should also apply for Professional Tax Registration, which comes under the state tax department. This should be renewed annually.
The Real Estate agent license shall then be issued per the required formalities within 30 days, generally, from the date of application.
The documents that are required to be submitted during the application for RERA registration are mentioned below.
- An application form which is properly filled out.
- Personal details such as the name, contact, photographs, and address.
- A copy of the applicant’s PAN card
- Details of the business area of the real estate agent. This should be a copy of the address proof, phone number, and email ID.
- If it is a business the agent is registering then the nature of the enterprise, its name and registered address should be provided.
- Income Tax Returns of the most recent three years.
- MoA (Memorandum of Association), AoA (Articles of Association), and bye-laws of the real estate agency.
- All details of any pending civil or criminal cases against the individual or their company
- Details about the agent’s partnership and work with real estate projects, promoters, and advertisers within the last 5 years.
- If there is a need and it is applicable then the details of registration of any other state.
- Any sort of copies of acknowledgement receipts, rubber stamp images, and letterheads.
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Skills Required to Become a Real Estate Agent in India
The main skills required for one to become a real estate agent are listed below.
- Communication skills
- Negotiation Skills
- Time management skills
- Problem-solving skills
- Interpersonal skills
- Sales skills
Job Roles and Salary
Once the real estate agent has landed in this career field, there are further job roles that they can take. Mentioned below in the table is the same, along with their respective salaries.
|Commercial Real Estate Agent||INR 5.5 lakh|
|Mortgage Specialist||INR 6.6 lakh|
|Real Estate Consultant||INR 3 lakh|
|Real Estate Sales Manager||INR 5.3 lakh|
|Loan Underwriter||INR 4.1 lakh|
Areas of Employment
Real Estate agents can find employment in the following areas:
- Real Estate Consultancies
- Online Property Aggregators
- Construction Companies
- Real Estate Brokering Companies
- Property Development Agencies
Also Read: How to Become a Solution Architect in India?
The 4 types of real estate are
Other names for a real estate agent are a relator, land agent, house agent, etc.
The real estate agent is a professional who has received a license from Real Estate Regulation Authority (RERA) and who represents the buyers and sellers in real estate transactions, helping them in securing the most appropriate price for a particular property.
That was all about how to become a real estate agent in India. Discover more such interesting articles on careers in India by tuning in to Wings by Leverage Edu.