India’s unorganised brokerage sector, degree vs skill gap and many other aspects are set to improve, as real estate education becomes a prime focus
The real estate industry, whether from a regulatory, workforce or a buyer’s point of view, is a complex machinery. Today, with increased regulatory vigilance and the passing of Real Estate (Regulation and Development) Act 2016 (RERA, in short), as well as real estate companies acquiring scale, getting more professional and larger players coming into this space, there is a need to educate real estate professionals and ancillary service providers.
Mumbai-based Real Estate Management Institute (REMI) addresses this need by providing certification programmes, executive courses and customised training workshops targeted at the real estate industry.
Skilling India’s real estate sector
REMI, part of The Annet Group, was established in 2014 to reduce the growing skill gap in the real estate industry by providing an international curriculum with global best practices to individuals in India. “The Indian real estate market has always been very fragmented and unorganised as the businesses are largely owner-driven,” says Shubika Bilkha, Business Head, REMI. The government’s focus on expanding infrastructure and urban development is also contributing to the need for real estate education.
Who is the target audience?
Bilkha explains the broad segments addressed by REMI as
1) Specialised professionals, which include valuers, quantity surveyors, facility managers, property managers and sustainable development experts;
2) Core professionals, which include engineers, architects and planners;
3) Non-core professionals, which include management, business administration, marketing, sales, lawyers and more; and finally
4)Real estate service providers, which include the areas of consulting, brokering and other ancillary services.
Brokers, for example, are a highly unorganised sector. “With the recently proposed regulatory amendments, the real estate brokerage sector is on its way to getting more organised and will, over time, operate in line with global benchmarks. This will create an organised entrepreneurial segment with licensed brokers and also create a lucrative career opportunity for students, graduates and women homemakers,” shares Bilkha. Moreover, the consumer, today, is educating himself by going through various resources on the Internet, so the salesperson or the broker also needs to be knowledgeable.
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