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Promoters are the builders or the developers who build apartment, buildings and sell those to home seekers. With increasing complaints against the promoters, the Real Estate Regulatory Authority (RERA) notification by the government of India has made multiple guidelines which the promoters have to meet to build a project or sell it legally.
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The functions and duties of a promoter are as follows:
The Real Estate agents are the medium between a buyer and a promoter. They have a strong presence in the real estate sector as they have the marketing skills to profitably buy or sell a property. A buyer does not know all the property details, and a promoter does not sell his properties himself. Thus, real estate agents’ role is of paramount importance.
Rules for Real Estate Agents:
RERA for Real Estate was introduced to protect the interests of the allotees and with a view to bring about accountability. It helps in maintaining transparency and reduces frauds and delays.
Read our article:Statutory Provisions of RERA: Registration Process, Documents, Offences, etc.
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