How To Obtain Real Estate License In India?
In India, it is very much necessary that you obtain a license in the real estate before you start making money out of any of the businesses that are associated with real estate. There are different licensing requirements for each state in India. The each of the states in India require the going to be real estate agents in order to complete a course in the field of real estate so that they can master the skills required for their jobs. There is also the real estate licensing exam that you require to pass, the portion and the curriculum for which is set by the different states in India. In this guide, we are going to explore the various aspects of how to obtain a license in India for real estate.
Here is a nice video on > Licensing for Real Estate Brokers under new RERA in India
How India is different from others
In India, institutionalization has not been yet done for the agencies and the broking firms that deal with the real estates. Mostly the ethics and the principles that have been followed since traditional times in India are guiding the brokers and the agents of today to develop a career path in the field of real estate. In India, real estate sector is just treated as a consulting service rather than a business. Of course, there is a great amount of money involved in the real estate and the construction sector. In India, if you are only on a consultation basis of service, then it is just sufficient in order to register your company with a suitable entity in India. However, the case is a completely different one in case you are consulting for a construction purpose. In the latter case, you may require a number of approvals as well as registrations.
Courses to undertake
There is something else to be done in addition to the length of the duration of the study. That is, each of the states has its own methods which are approved in order to fetch you a license in the real estate sector. With the state government, there lies a list of courses as well as the institutes that are approved by the state government itself so that it can be easier to evaluate the expertise of a candidate who seeks a license for real estate. Some of the state requirements cater for the distance learning as well as the study materials that are based online. There are also some of the state dependent provisions for the home study real estate courses. It is a matter of only a few weeks in order to get the training and ready as an expert in the real estate in India. These courses, although are for a very short duration, these are known to provide enough study material so that you can develop expertise in real estate. The only drawback is that you have to study intensely for a very small amount of time.
You can also consider the community colleges through which you can enroll for taking the license exams of the real estate in India. These community colleges are established by the state government itself. All you need to do is to take classes for just a few hours per week for duration of some three months. IN this case, you can gain enough knowledge and expertise in order to clear the licensing exams of the real estate exams in India. This is best suited for an individual who takes extra effort to get licensed in the real estate even though while working for some other sector in India.
Real estate courses vs. licensing exams
When you want to get yourself enrolled in a course in order to take the relevant examination for the real estate in India, it is very important that you keep in mind that not all of the real estate courses are created equally in India. The very fact that there are different licensing requirements for every state in India justifies the fact that in India, there are different laws which govern the dealings that are conducted in different states in India. Also, the percentage of people who pass the real estate licensing exam in India vary significantly in India depending upon the type of license in real estate that is required. You need to make a clever decision as to what course you need to choose in order to get a real estate license in India.
What is to be done after passing in the licensing exam
In addition to passing of the real estate exam, you require to pay some amount of fee so that you obtain your license. Finally, it is the requirement that you find a suitable broker for yourself so that you get a sponsor for you are its real estate selling/ buying or construction business as well as the property management business. The state government provides license only for a certain amount of time and an examination is held even when a license is renewed in real estate in India.
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