RICS and NAR (India) collaborate to train real estate brokers in real estate sales and marketing

• NAR (India) to work with RICS on various policy initiatives to ensure minimum qualification requirements are included for brokers practicing in the industry under RERA.
• RICS to offer Management Development Programs to NAR (India) members

• NAR (India) to work with RICS to promote standards for uniform property measurements (IPMS), brokerage and ethical standards in the real estate industry.

31 August, 2016, New Delhi – RICS (the global professional body for chartered qualifications and standards in built environment) and National Association of Realtors (India) have signed a Memorandum of Understanding (MoU) for a co-branded skills development initiative.

NAR (India), is an umbrella body representing interests of brokers all over the country. It is a well known fact that there is a significant skills gap in the real estate and construction industry. Real estate brokers typically do not have any formal training in real estate. RICS and NAR (India) hope to change the status quo by offering NAR members education and training programs under a co-branded skills development initiative. NAR (India) has an overall reach of 20,000 brokers across the country.

RICS-NAR (India) will offer Management Development Programs (MDP’s) for professionals with over three years of experience. The programs will be for short durations of one week. To begin with, RICS School of Built Environment will offer an executive management program called “Essentials of Real estate sales and marketing” for mid-level managers. The course will provide early to senior level brokers with an understanding of sales and marketing concepts, practices, importance and role of marketing with a special emphasis on the real estate sector.

The program has been designed in discussion with the industry and is tailored for professionals who need to quickly assimilate the essentials of real estate brokerage business. The program will be implemented by delivery partner – RICS School of Built Environment, Amity University. RICS offers specialized education and training programs for real estate sector (through RICS School of Built Environment, Amity University)–ranging across full time degree programs, executive education, management development programs and distance learning certificate courses.

RICS will also work with NAR (India) to promote standards for uniform property measurements (IPMS), brokerage and ethical standards in the real estate industry.

Commenting on the partnership, Sachin Sandhir – Global Managing Director, Emerging Business RICS said– “Even though real estate and construction is the second largest sector of the Indian economy, it is unorganized and fragmented. There are not many options for formal training of real estate brokers who play a crucial role in the sale of homes. Brokers are often the only interface between the developer and a home buyer and it is important to ensure that real estate agents are well trained. The courses that we will offer will train real estate brokers in marketing principles, sales forecasting, negotiation and sales closure. We are glad to have partnered with NAR (India), which is working towards bringing global best practices to India’s real estate brokerage business. We see this training as one more towards professionalizing the real estate industry. We will also work closely with NAR to promote best practices and standards in the real estate brokerage business”

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Commenting on the partnership, Sam Chopra – President, National Association of Realtors-India (NAR-India) said – “Training in the real estate industry is not optional, at least not for the organizations that intend to survive. A successful real estate consultant not only relies on customer relationships or the ability to close a sale, but also on his appetite for continuous intake of knowledge concerning latest advancements in the field. Today’s real estate consultant needs to be an all-rounder who is able to keep up with market trends as well as the ever-changing local and international laws and regulations. With the advent of new technological innovations, such as social media, Mobile apps/CRMs,  it is critical for the new age brokers to learn how to manage the ever-increasing demands made by more learned and empowered consumers. The partnership between RICS and NAR-India highlights the need for adequate training in a variety of disciplines and emphasizes the need for ongoing training and development. With a drive towards providing a second-to-none service to the customer and in order to encourage referrals and customer retention, planned and formalized real estate specific training is required. In a nutshell, this partnership is the right move towards the  holistic growth and the paradigm shift in the image of the Indian Realtor.”