Real estate agents across the country have formed a national association for first time called National Association of Realtors India (NARI), aiming to self regulate their profession.
NARI has been registered under the Registrar of Societies Act as a not-for-profit organization. It has also tied up with US-based National Association of Realtors, which has more than 800,000 members and also has the trademark rights to the use of realtors.
“There is a lot of discrepancy in the real estate business’ because of the way agents function, Farook Mahmood , founder president of NARI and managing director of Bangalore-based Silverline Realty was quoted in Mint. “We hope to evolve a uniform code of ethics for the members and also have provisions for punitive actions.”
An integral part of the new body is the certification course. This course, to be made compulsory for all its members, will contain real estate mathematics, code of conduct and knowledge of real estate issues. The preliminary version of the course material, with some local content added, runs into 500 pages.