How to Become a Real Estate Agent in India?: The real estate market is easily one of the most illustrious businesses in India. It is ever-so-booming, versatile, and highly forgivable, especially in a country like India, where there is perpetual high demand. Real estate prices are soaring as we speak, and there is no better time than now to hop into the business.
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- What Do Real Estate Agents Do?
- How to Become a Real Estate Agent in India?
- Top Courses for Real Estate Management in India
- Career Prospects for a Real Estate Agent in India
More often than not, property owners are not able to find buyers or get a good price for their property. This is where real estate agents come into the picture. They list your property for you, set up viewings for prospective buyers, quote a price, and do all the paperwork that comes with a sale. To put it simply, real estate agents help you sell your property, in exchange for a commission.
Confused about whether being a real estate agent is your calling? Well, here are a few skills that every real estate agent must have:
- Must be up-to-date with the market trends and keep track of price fluctuations.
- People with good interpersonal skills make for successful real estate agents.
- Ability to synthesize and be creative.
- Must be an excellent negotiator.
To become a property agent in India, it is paramount to obtain a license by registering under the Real Estate (Regulation and Development) Act, 2016. The act makes it mandatory for all property agents to register with concerned state-level real estate authorities.
The agents are then issued RERA Registration Number/License, which is valid for 5 years. The licensing fee varies from state to state and usually lies somewhere between INR 5,000 – INR 2,00,000 for individuals and companies.
For registration, the applicants need to submit a duly filled form issued by the state authorities along with a copy of the following documents:
- Income Tax Returns for the last 3 years
- Address Proof
- Copy of PAN Card
- Other particulars of the applicant
The license/certificate of registration is usually issued within 30 days of application.
Other than the license, real estate agents in India must also apply for Professional Tax Registration. PTR is a tax imposed by state governments for carrying out professional activities in their jurisdiction. This registration needs to be renewed every year.
There are no minimum qualifications required to become a real estate agent in India. There is no mandatory course or field of study for this profession, and anyone can enter the business.
However, if you’re looking to hone your craft and be well prepared before entering the market, here are the top courses that you can do to become a good real estate agent in India.
|Bachelor of Business Administration||INR 20,000 – INR 10,00,000|
|BBA in Real Estate and Urban Infrastructure||INR 35,000 – INR 12,00,000|
|MBA in Real Estate Management||INR 50,000 – INR 20,00,000|
|Masters of Business Administration||INR 10,000 – INR 25,00,000|
Being a real estate agent is not an easy job. It is highly technical and requires a good knowledge of business principles and sales albumen. No doubt, it is a very interesting job with a number of career prospects. Some profiles where Real Estate agents normally work include:
- Real Estate Manager
- Commercial Broker
- Loan and mortgage specialist, etc.
A registered real estate broker can start his independent practice, work in collaborations with a business, or be hired by a real estate company. Some real estate agents also have a franchise agreement with regional or national level companies. The opportunities in this profession are endless. The two most common ways how real estate agents start out in India are:
- By joining a company that deals with the sale and purchase of Real Estate.
- By opening your own Real Estate company after registering yourself.
According to the latest statistics, more than 50% of the real estate agents in India work independently, and about 32% of brokers work with real estate companies. Some top recruiters in Indian include DLF Ltd., NBCC India Ltd., Godrej Properties Ltd., Indiabulls Real Estate Ltd., etc.
|Real Estate Agent||Annual Salary|
|Entry Level||INR 4-5 Lakhs|
|Mid Level||INR 6 Lakhs|
|Senior Level||INR 10-12 Lakhs|
There are several pros to becoming a real estate agent in India. It is a highly lucrative job and pays really well throughout the career span. You do not have to follow a set 9-5 job schedule and work at your convenience. In addition to this, there is unlimited scope for growth in this profession. The money that you earn will be directly proportional to your efforts. So, the harder you work, the more your earn! Simple.
Very few professions guarantee this flexibility and scope of growth. Thus, if you haven’t already, you must consider becoming a real estate agent in India.