No Rera License? No Problem! Refer And Earn Commissions. Is it right or wrong!
There are many developers who are engaging in what is known in the real sector as ladder program. A big broker engages smaller brokers and pays them some commission out of his own commission.
Till here, it is fine, if they all are presumably RERA registered brokers.
But then there are referral programs where customers or any freelancer can join a developer’s channel partner to sell a property and earn brokerage.
Questions are being raised on the referral initiative by developers inviting Non-Rera individuals to register with them and in return earn incentives and if this is ethical at a time when RERA is making it mandatory for brokers / channel partners to appear for an exam and be RERA certified.
Some brokers Realty+ spoke to consider this as undermining their work and an unauthorized practice which goes against RERA directives.
Devang Trivedi, MD Progressive Group puts it aptly, “Brokers remain backbone of real-estate market. They have always remained a major integral part of resale market. To marginalize them would be doing injustice to their contribution. A word of caution though many a brokers need to up their gears as they need to professionalize and up their credibility quotient.”
