A RERA consultant has to be registered with the Authority and can practise only after obtaining a licence from the Authority. Read on to learn more about a career as a RERA consultant.
The RERA (Real Estate Regulatory Authority) was established by the Government of India in 2015 to regulate the real estate sector in India. The authority has been given powers to issue directions to builders, developers, promoters, registrars, etc., to ensure compliance with law and regulations. To get RERA registration you need to register your real estate company under the RERA Act. A RERA consultant is responsible for providing technical assistance to clients who have been issued a RERA registration certificate. This article gives us insight into career opportunities as a RERA consultant.
The Real Estate (Regulation and Development) Act of 2016 compliance, consultancy, and professional services are provided by RERA Consultants LLP, a pioneer in the industry. RERA serves as a barrier between customers and greedy builders, and it also gives consumers access to a forum called RERA complaint.
Career as a RERA Consultant
The RERA Consultants provide advice on the implementation of the RERA Act and its regulations and assist in complying with the provisions of the act. A RERA consultant has to be registered with the Authority and can practise only after obtaining a licence from the Authority.
A RERA consultant is not allowed to charge any fee for his services. They play a significant role in implementing RERA as they are the ones who will advise builders about their projects & provide them advisory services. They will also conduct site visits to review project compliance and ensure that the developer has complied with RERA regulations. A RERA consultant’s role would entail advising developers, architects, contractors, engineers, legal consultants, land owners, and other stakeholders regarding various aspects of RERA requirements.
As a RERA consultant, your job will involve preparing reports related to the real estate sector. Some people call it a property consultant. For this work, a person should be well versed with legal terms and documents to write these reports. AS a RERA consultant, you can also build your business network and make money by doing business. You can earn a good amount of money from home by working online. Many companies hire consultants for their projects. If you have good knowledge, then you can have a promising career in the consultancy field.
Eligibility to become a RERA consultant
RERA consultant jobs offer great scope for self-employment and earn a handsome monthly salary. A bachelor’s degree is sufficient to get a job in entry-level roles. However, those with work experience may find job opportunities in companies offering higher remuneration. The RERA consultants are appointed under Section 10(4) of the RERA Act.
Courses available from different institutions
Candidates with bachelor’s degrees and experience in relevant fields can apply to various certification courses. To become a RERA consultant, you can take up courses from different institutions.
There are various courses available from different institutes, as mentioned below:
- The Real Estate Management Institute
This institute offers certification programs, executive courses, customised training workshops, and other management programs for the real estate industry. Their course includes a global curriculum and international certification in real estate.
- RICS – School of Built Environment
They offer comprehensive programs that have been put together in response to the demand for skilled personnel as highlighted by companies in real estate. Their program includes the following courses:
- MBA in Real Estate and Urban Infrastructure
- MBA in Construction Project Management
- Post-graduate diploma in Facilities Management
Consult Lease
Consult Lease Provides an online Certificate Course in Real Estate RERA. The training is provided by their expert faculty, CA Madhav Birla & CA Nipun Singhvi, for this course.
- IREF – Institute of Real estate and Finance
They offer a 3 months professional course for a complete study on all aspects of the Real Estate Regulation Act 2013(RERA) and important aspects of project management. The course includes in-depth knowledge of the processes of RERA with well-defined professional content, and study sessions that are balanced with practical knowledge.
Types of job roles for real estate agents
Real estate agent jobs can vary significantly from state to state and city to city. Some states require that realty agents have at least some college degrees, while for others it is not a mandate. In some cities, real estate agents are licensed but not regulated, while in other cities, realtors are self-regulated. There are many different types of real estate jobs out there; here, we will go over 5 of the most common ones.
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Real Estate Agent
A real estate agent is someone who can help clients buy or sell a property. They are usually employed by a brokerage firm and work under contract. Their duties include finding properties that meet their client’s needs, negotiating contracts, and assisting in closing sales.
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Property Manager
Property managers oversee rental units and manage maintenance staff. They make sure tenants pay rent on time and keep the premises clean and safe. A property manager may also handle other tasks like collecting rent and dealing with complaints from tenants.
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Salesperson
Salespeople sell products and services to consumers. They often have a large network of contacts and use these relationships to generate business.
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Mortgage Broker
A mortgage broker works with people who want to buy homes. They look through many houses and choose ones that meet their needs. Then they work out a loan package that meets the buyers’ budget. After that, they shop around for lenders willing to give them money. Once they get approval from everyone involved, they close the sale.
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Realtor
A realtor is someone who helps clients buy or sell a home. Sometimes this can mean finding a client a house, but sometimes it means helping them sell their current home.
Salary and compensation
The salary bracket of a real estate agent in India ranges from ₹ 0.2 Lakhs to ₹ 10.0 Lakhs, with an average annual salary of ₹ 2.5 Lakhs. The salaries mentioned are based on 169 salaries received from Real Estate Agents. While a real estate consultant can earn anywhere around 7-8 lac PA at the junior level. Moreover, once you gain experience and knowledge, the salary can go anywhere from 12-13 lac PA.
Final thoughts
Many companies are looking for experienced RERA consultants to help them in the real estate sector. So, if you are interested in starting your own business, then go ahead and start now. All you need to have is good knowledge of the current market conditions, a knack for business, and good technical know-how of legal terms related to property. Visit Vakilsearch services that cover the legal needs of startups and established businesses.
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