RICS and NAR India commit to greater professionalism and transparency in delivering property transaction and advisory services.
On 28 November 2019, RICS and the National Association of Realtors India (NAR India) signed a Memorandum of Understanding (MoU), whereby NAR India members working on transaction advisory services can undergo a one-year qualification-linked training program.
This program, known as the Emerging Leaders Program on Real Estate Management, has been specifically designed for real estate agents and channel partners, based on RICS' competency framework, which directly links to the RICS-qualifications framework (AssocRICS/MRICS).
"In a profession where barriers to entry are low and quality checks are few, buyers are sceptical of transparency, information sharing and professionalism in the market. There is no doubt that a real-estate regulator is essential to protecting consumer interests," said Nimish Gupta FRICS, Managing Director of South Asia, RICS, during the signing of the MoU. "However, self-regulation by practicing professionals can go a long way in redefining the consumers 'realty' experience. Therefore, professionalism at the start of a transaction, driven by requisite skills and competencies, will help address the poor image of the industry."
"Today consumers are more informed and aware of international best practices and are increasingly demanding to work with professionals who have the pre-requisite knowledge, competence, ethics, credibility, quality, and consistency to deliver as per their expectations," continued Mr Gupta. "This is what makes the agreement between our two self-regulatory bodies historic. Now, real estate agents will bring greater credibility to the market through professionalism, pride, and transparency in practice."