Course Outline
 

 

Introduction
  • General overview of the real estate sector, and understanding of the residential versus commercial real estate concepts.
  • Segmentation of real estate in housing and non housing categories (commercial, industrial, institutional etc)
  • Indian real estate market, the second largest employment generator and growth engine for more than 300 allied industries
  • Appreciating the unique characteristics of real estate markets like durability, heterogeneous market, high transaction costs, potential for disequilibrium, dual nature – investment and self consumption, immobility of the investment
  • Main reasons for demands like income, price of housing, availability of credit, consumer preferences, investor preferences, price of substitutes and price of complements, increased urbanization etc
  • Determinants of supply like land, labour and other input costs and the availability of existing stock
  • Current trends in the real estate markets, slowdown in demand, rising interest rates, effect of the housing bubble in the West
  • Market Participants like owner/user, renter, developers, renovator, facilitator etc
Skills of a successful real estate consultant
  • Skills needed to succeed as a real estate agent
  • Services provided by a real estate agent from marketing properties for clients, to representing buyers in purchase, assisting them in making the best purchase under best terms
  • Processes needed to achieve sales – listing properties, preparation of necessary documentation, advertising properties ,being the contact person available to answer queries, screening both buyers and sellers etc
  • Importance of being a self starter and a good time manager
  • Effective communication skills needed for dispute resolution.
  • Conceptual knowledge required for understanding lease clauses and their legal and negotiation implications.
  • Ethics and its importance in the agency role – ethical duties to clients, customers, tenants, residents, employers etc, resolving conflict of interest between parties, fiduciary relationships
  • Managing effective communications, the communication process
Sales and selling
  • Managing advertising, Direct mailers, electronic mailers, telemarketing and other reach out plans to the prospective clients
  • Networking assumes a lot of importance – building relationships, maximizing networks already present in, increasing network competence and discovering opportunities in everyday situations
  • Learning how to work on leads to generate more leads, transitioning from passive to proactive approach to leads, building trust in others
  • Making networking and referral generation an intentional part of business plan
  • Setting networking and referral goals annually
Real Estate Financing
  • Different ways to obtain real estate financing – governmental and commercial sources
  • Housing Loans from Life insurance companies, banks and other NBFCs
  • Role of FDI and ECBs in large scale developer projects
  • Role of REITs and secondary markets
  • Growth in demand due to fiscal incentives on both interest and principal repayments
  • Typical profile of a home loan buyer – first time borrowers, looking for legal and technical issues advice, generally salaried class and preference for floating rate loans
  • Implementation of tax reforms – reduction in stamp duty and registration charges
Real Estate Pricing
  • Importance of calculating the median prices over mean prices as a common measurement
  • Various units used in pricing like sq ft and sq m
  • Various factors that determine pricing
Sale of Real Estate
  • Various legal matters related to sale of real estate like Sale Deed, construction of sale deed, contract for sale, rights and liabilities of buyers and sellers, benefits accruing to the buyer, increase in value of immovable property, charges on the property, stamp duty payable on sale deed, registration of sale deed, agreement for reconveyance, sale and FEMA, rules for NRIs etc
Mortgage
  • Introduction and definition of mortgage, transfer of interest in an immovable property, kinds of mortgage ,simple mortgage, mortgage by conditional sale, mortgage by deposit of title deeds, anomalous mortgage, redemption of mortgage, persons who may sue for redemption, legal proceedings for redemption of mortgage, foreclosure or sale of mortgaged property, rights to seek foreclosure or sale of mortgage property, legal proceedings for foreclosure, registration of mortgage deed, stamp duty payable on mortgage deed, mortgage and FEMA, loan to a resident and nonresident Indian etc
Lease
  • Lease would include topics like definition, introduction, and execution of lease, rights and liabilities of bother the lesser and the lessee, termination of lease, forfeiture, service of notice to quit, application of rent control legislations, grounds of eviction under rent control legislations, model residential tenancy act, registration of lease deed, stamp duty payable on lease deed
Gifting of Real Estate
  • Meaning of ‘Gift’ , transfer, scope and meaning of gift, manner of transfer of immovable property by way of gift, registered document, signed by or on behalf of the donor, attested by at least two witnesses, voidance of gift, suspension or revocation of gift, onerous gifts, stamp duty payable on the gift deed, treatment of gift by the income tax act, gift status when donor is NRI etc
Exchange of Real Estate
  • Exchange as a mode of transfer, introduction, definition, execution, treatment of exchange
Other Regulations
  • Introduction of consumer protection act, 1986 ,definition of consumer underneath it, real estate and consumer protection act, deficiency of services and what it entails like late delivery, escalation, refund, substandard material, conversion, property allotted in occupation of third party etc
  • Introduction to real estate and competition act, 2002
  • Land acquisition rules and its implications on end consumers
Basic IT Skills: Technology and a real estate office
  • Introduction to basic computer hardware and software and other internet tools for marketing and communication needed by a real estate marketing and selling team in today’s fast paced and networked world of real estate.
  • Basic internet real estate portals for posting and browsing real estate – security and computer protection and data protection is also critical for a real estate firm
Personnel Management
  • Selling is the most important tool of personnel management and it is important to have a clear understanding of the job requirement before we hire some one. Also important is the recruitment process, screening of job applicants, training and appraisals, motivating performance and compensating performers. The compensation pattern should be performance based and should have clear objectives.

RERA

  • Project Registration
  • Promoter Functions and Duties
  • Allottees Rights and Duties
  • The Real Estate Regulatory Authority
  • The Real Estate Appellate Tribunal
  • RERA Offences, Penalties And Adjudication


Apply for Certification

https://www.vskills.in/certification/Certified-Real-Estate-Consultant