Looking for a real estate agent who can help you buy or sell a home?
It is time you asked for the certification of proficiency from the broker, which is awarded by National Association of Realtors (NAR) – India.
In an attempt to enhance the professionalism of brokers, NAR has made the Real Estate Membership Entrance Test (RE-MET) mandatory for all its member associations' brokers and realtors.
“By July 23 and July 24, when NAR-India meets for its next convention in Hyderabad, we want all the members to complete writing the test,” said Abdur Ravoof, president of NAR-India.
The national body has 1,200 members with 16 associations representing it. In Chennai, there are 73 members who are part of Chennai Real Estate Agents Association (CREAA).
Anyone can get into real estate business, but this certification is aimed at streamlining the industry as well as setting standards for the brokers, said Mr. Ravoof. The approximately 30- minute online test is a multiple choice examination, where knowledge of various subjects is evaluated.
Fifty is the pass mark for the exam and a candidate is allowed to take a re-test if he/she does not clear the test.
The aptitude test is based on questions such as how to value a property, measure a land and about property management.
“Nearly 20 members have taken the test in Chennai. The long-term goal is to make all brokers take up the test,” Mr. Ravoof adds.
Chennai has at over 6,000 unorganised brokers.
The current members of NAR – India requires the member to be a full-time realtor, have an exclusive office and apply to the association with the recommendation of two existing members.
According to real estate consultants, the test is at a very preliminary stage in India and will have to be upgraded periodically.
“In the U.S., real estate brokers take a written exam and they have books to refer to for preparation,” says C. Suresh Reddy, vice-president of CREAA and Managing Director Hanu Reddy Realty. “I have asked NAR-India to come out with a book so that one can prepare,” said Mr. Reddy.