Vineet Nanda as FICCI Chairman who has worked on various white Papers along with JLL(knowledge partner of FICCI) represented by Akash Bansal, Senior Director, and India Lead were working on a white paper to be presented to State Governments to further regulate the industry. The idea being put in the White Paper was to regulate the transactions made in the real estate industry between channel partners and customers. The majority of the channel partners and their team members even those who are registered with RERA do not possess adequate knowledge of RERA. Nor they are well trained to handle the home/office buyers.
Real estate sector has matured and has become much more organized and transparent. As the sector matures, all the stakeholders also evolve and one of the key needs for the hour, therefore, is the upskilling of people involved in the sector.
- MahaRERA has announced plans to provide training to real estate agents. From May 1, 2023, the Authority will only allow agents with a valid Competency Certificate to register as authorized real estate agents on its portal. It has collaborated with the Institute of Banking Personnel Selection for undertaking online examinations so that real estate agents who clear the exams could be given the Certificate of competency
- To become a successful Real Estate Agent in Canada, One has to complete a series of Salesperson Licensing courses.
- Real estate agents and real estate brokers are required to be licensed when conducting real estate transactions in the United States and many other countries. Each state requires its own mandatory education to become eligible to receive a real estate license. This involves completing a pre-licensing education from an institution accredited by the state and passing an exam. Additionally, to maintain a real estate license, states require a continuing education program to be completed every 2-years
To address this gap, the Steller School of Real Estate is aimed at providing new-age knowledge and skills to the young workforce aspiring to join the real estate industry and working professionals already in this high-growth industry.
Speaking on this initiative by the university, Dr. Sandeep Singh Kaura, Chancellor of the university said, “RESEED will build a learning ecosystem which is in line with PM Modi’s vision for making India a skilled capital of the world by providing global level skills to youth of India making them employable in domestic and overseas market. A highly acclaimed professional team is put into action to actualize this dream to shape into reality. We believe that the Stellers School of Real Estate will play a key role in shaping the future of the real estate industry and we are thrilled to be pioneers in this field.”
Mr. Vineet Nanda, a Member of the Board of Management of the university, said, “Few people working in the unorganized real estate sphere bring a lot of disrepute to the industry. To revamp the image of the real estate industry, it is essential that the professionals working in the industry are equipped with knowledge of legal and government regulations, soft-skill development, and digital and technical domains of the sector. The sales force should be well-groomed and proficient with language skills. RESEED course, curated by industry professionals, has been designed keeping in mind both practical and technical aspects, particularly in a RERA-regulated environment. I’m sure that it will herald a new era of transparency and trust-led sustainable growth of the real estate industry in India. This first-of-its-kind course will give impetus to entrepreneurship and Hon’ble Prime Minister Modi’s Skill India Mission.”
Detailing the objective of the course from the customers’ point of view, Mr. Akash Bansal, Senior Director & India Head – Strategic Consulting, JLL India said, “As Indians, one of our largest lifetime investments is always real estate. When small investments in a mutual fund, equities, or insurances are regulated and involve certified experts, then a lifetime, higher-value investment in real estate, merits more attention and expertise. RESEED course will enable the brokers/channel partners to gain confidence and position themselves as elite certified professional in this category to help buyers/sellers professionally”
The school will offer various programs from certificate level to Diploma to degree and postgraduate level. The graduate and higher degree programs shall be offered under Centre of Excellence (COE) whereas Diploma and Certificate level programs under Centre for Specialized Training (COST) and Centre for Vocational Training (COVT) respectively.
This highly focused research based real estate education program is envisaged under Centre for Specialized Training under the brand name RESEED. This is the First-of-its-kind real estateindustry focused Certificate Level program where Faculty comprised of blend of academic and industry practitioners will train the candidates including young aspirants and working professionals of real estate companies and their channel partner to train them into a whole new crop of real estate professionals to become a high-performing asset to always demonstrate best industry practice
The curriculum of this 3-months duration course which was prepared by the real estate experts led by seasoned sales & marketing professional with vast amount of experience in real estate sector Mr. Bhaswar Paul will include a wide range of topics, including property management, real estate finance, urban planning, etc following the credit system as per National Credit Framework of UGC including credits for On the Job Training (OJT) leading to recognized certification by the University. The program will inspire channel partners, agents, and young professionals to learn and advance their real estate careers under constant guidance from top industry veterans and highly experienced instructors and provide new job opportunities to young workforce.
A brief on Lamrin Tech University
Lamrin Tech Skill University Punjab (LTSU) is first of its kind Industry incubated Skill University in India by IBM as an Anchor Partner, RERT as academic partner, and Tata Technologies & Ansys Corporation as Industry Partners with an Investment of INR 1630 crore. LTSU is established by the Govt of Punjab under Punjab State Act No 22 of 2021, and its name is included in List of Universities under section 2(f) of the UGC Act 1956, has collaborated with National Skill Development Corporation-India, Cambridge University Press- UK and ITEES- a Globally ranked Institution of Govt of Singapore. LTSU Punjab LTSU is located in the foothills of Shivalik Hills on the bank of Satluj river near Ropar Punjab in the sprawling campus of 80 acres of land.