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New Mandate Disclosure of Broker Fees

26-Oct-2024 Maharashtra's Real Estate Regulatory Authority (RERA) has introduced a new mandate requiring the disclosure of broker fees

Maharashtra's Real Estate Regulatory Authority (RERA) has introduced a new mandate requiring the disclosure of broker fees in property sale agreements. This important regulation aims to enhance transparency and protect buyers from hidden costs, empowering prospective homeowners with a complete understanding of all financial commitments associated with their property purchases. By clarifying these fees, RERA seeks to reduce confusion and build trust within the real estate market.

For brokers, being upfront about their fees can strengthen client relationships and foster a more professional environment. As buyers navigate this significant financial decision, it’s essential to ask questions, read agreements carefully, and seek clarification on any unclear terms. Overall, this mandate not only promotes ethical practices in real estate but also encourages informed decision-making, making the home-buying process less daunting and more transparent.

 

Maharashtra's Real Estate Regulatory Authority (RERA) has introduced a new mandate requiring the disclosure of broker fees

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