How To Become A Property Dealer

How To Become A Property Dealer In 2023? | Important Step to Become Real Estate Agent

Before talking about how to become a property dealer in 2023 it must be important to know the services provided by a Property Dealer is, introducing and deal-making on leasing or sale of plot, land, building and apartments.

Property Dealer or Real Estate Agent

A “Property Dealer or Real estate agent” is a person who creates a link between a property buyer and a seller. If you think about how to become a Property Dealer in 2023, important qualities such as communication skills, negotiation skills and networking are some of the essential traits to become a Real Estate agent (Property Dealer).

Real estate agents are also known as property dealers, brokers, middlemen etc.

Who is a Real Estate Agent or Property Dealer?

A real estate agent or Property Dealer is a Person (Male/Female) who connects buyers and sellers for real estate transactions and acts like a middle person in negotiations of buyers and sellers. Property Dealers are licensed professionals who work for a real estate broker who possesses a specialized license and have experience.

He will guide you every step of the way whether you are selling or buying a property, this will help you find a low budget and good deal for the client. Typically, dealer fees include some percentage of the sale or purchase price of the property.

Whether you’re selling or buying property, a real estate agent will help you close the deal keeping all your requirements in mind. He/she will guide you at every step, from property research to closing the real estate transaction. Generally, the agent’s fee includes a percentage of the property sale price.

Before reading about how to become a property dealer 2023, here is a list of common duties of real estate agents that possess research, organizational tasks and marketing:

  • Search open listings and find properties.
  • Update property listing.
  • Create a Business Website or Blog.
  • Manage their social media/online presence.
  • Answer emails and phone calls.
  • Preparing and distributing promotional materials.
  • Run ad campaign.
  • Schedule appointments and presentations.
  • Determining the financial capabilities and needs of the client.
  • Draft documents (lease, completion details, works, contracts, etc.) and deliver them.
  • Stay up to date with property demand  trends, markets, and best practices.
  • Perform Comparative Real Estate Market Analysis.
  • Network with local businesses and potential customers.

How to Become Real Estate Agent 2023

To become a Professional Real Estate Agent in India, you must be registered under RERA (Real Estate Regulatory Authority). The Real Estate (Regulation and Development) Act 2016 has regulated and streamlined real estate businesses to facilitate home buyers and agents alike in their transactions. The RERA registration process and its fees vary from state to state.

Property Dealer agents should also apply for Professional Tax Registration (PTR). PTR knows the tax imposed by every state for performing professional services in the region. PTR services are provided by the concerned state tax department to the agent by charging a fee and this registration certificate must be renewed annually.

The state tax department provides a PTR to the agent by charging a fee (the fee varies between states), and this registration certificate must be renewed annually.

Why is RERA Registration Important for Property Dealers?

If you’re clear on how to become a property dealer in 2023, you should know that the first step is to register and get a valid certificate.

As per RERA Act, a real estate project that must be registered under the RERA Act can be dealt with only by a registered real estate agent having a valid certificate.

RERA registration is necessary to advertise, market, book, sell or offer for sale or invite people to buy in any plot, apartment or building.

The main purpose of RERA registration is to regulate the real estate sector and make the processes more transparent.

This way, a client can trust an agent with property transactions without the fear of being misled as a registered agent will be fully involved in the project and will be liable for anything that goes wrong.

RERA Guidelines on Registration of Property Dealer Agent

The Real Estate (Regulation and Development) Act 2016 was launched by the Real Estate Regulatory Authority (RERA) to increase transparency and accountability in real estate transactions and streamline the entire process.

As per RERA guidelines, a RERA registered/licensed Property Dealer agent shall,

  • Obey the rules stated in the Act.
  • Not facilitate the buying/selling of any unregistered property.
  • Not indulge in any unfair trade practices that are false and misleading.
  • The homebuyer has the facility of possession of all the documents and information while booking any apartment, plot or building.

The RERA Act regulates property transactions and ensures that home buyers have access to licensed, responsible agents, without the worry of misguidance or fraud. Safety, fairness, authority, transparency and quality are all taken care of by RERA. It also provides many benefits to the promoter, buyer and real estate agent.

Documents Required for RERA Registration

All the relevant documents and identity  information of the real estate agent need to be supported with the following documents:

  • PAN card
  • Aadhaar card
  • Income tax returns
  • Details of the enterprise
  • Duly filled form
  • Proof that registration fee has been paid (copy of the Demand Draft)

How to Become Property Dealer 2022  in India– Eligibility Criteria

There is no minimum qualification mandatory to proceed towards this career, one must fulfil some of the basic requirements listed below:

  • The age of the individual must be at least 18 Years, depending on the state from where he/she is applying.
  • He/she should clear the related state’s real estate license test.
  • To become a licensed real estate agent, one must complete the required pre-licensing education as per the state’s educational qualification requirements.

What are the key qualities to becoming a Property Dealer?

To become and build a successful Property Dealer career in the competitive real estate market, it is important to understand consumer behavior and the marketing strategies needed to grow.

  • Networking
  • Transparency
  • Avoid assumptions
  • Referrals
  • Online presence
  • Consultant role

Related FAQ,

Q. List of Documents required for RERA Registration.

Following Documents required for RERA Registration:
1. PAN card
2. Aadhaar card
3. Income tax returns
4. Details of the enterprise
5. Duly filled form
6. Proof that registration fee has been paid (copy of the Demand Draft)

Q. Top 5 key qualities in Property Agent.

1. Networking
2. Transparency
3. Avoid assumptions
4. Referrals
5. Online presence

Q. How to get RERA registration number?

Ans. The state tax department provides a PTR to the agent by charging a fee (the fee varies between states), and this registration certificate must be renewed annually.

Q. Why RERA registration is Important?

Ans. RERA registration is necessary to advertise, market, book, sell or offer for sale or invite people to buy in any plot, apartment or building.

Q. Purpose of  RERA registration.

The main purpose of RERA registration is to regulate the real estate sector and make the processes more transparent.

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