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UNPAID COMMISSIONS OF AGENTS UNDER RERA


 

DOES RERA PROTECT AGENTS FROM UNPAID COMMISSIONS BY BUILDERS

The Real Estate (Regulation and Development) Act (RERA) primarily focuses on regulating the real estate sector and protecting the interests of homebuyers and allottees. While RERA aims to bring transparency and accountability to the industry, it may not specifically address the issue of unpaid commissions to real estate agents by builders or developers. The act primarily governs the relationship between promoters (builders/developers) and allottees (homebuyers) rather than the relationship between promoters and agents.

However, it's important to note that some state-level RERA rules may include provisions related to agents and their commissions. For instance, the RERA rules of Maharashtra include provisions stating that promoters are required to pay the agreed-upon commission to registered agents within a specified time frame.

In cases where a builder or developer fails to pay the agreed-upon commission to an agent, the agent may need to rely on other legal remedies available, such as approaching civil courts or other dispute resolution mechanisms, to seek recovery of unpaid commissions.

It's advisable for real estate agents to have written agreements or contracts with builders or developers that clearly outline the terms and conditions of the commission, including the payment schedule and consequences of non-payment. This can help protect the agent's interests and provide a basis for legal recourse if disputes arise.

Since RERA provisions may vary between states, it's essential for real estate agents to refer to the specific RERA rules and regulations of their respective state to understand the rights, protections, and remedies available to them in relation to unpaid commissions. Consulting with a legal professional experienced in real estate matters can also provide guidance in dealing with such situations.

ADV LEENA KAULGEKAR

 

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