The signing of the agreement for the IIRE course - Principles & Practices of Real Estate at the Government Law College, March 2004. (L-R) Dr. Pithawala | Mrs. Rao - Principal-Government Law College | Jyoti Kumar - Co-ordinator-IIRE | Gail Lyons - NAR's President's Liaison to India (IIRE) | Chetan Narain - President-IIRE

'The start of a new beginning' - Commencement of the IIRE course at Government Law College.

Group Photograph of the entire team behind the course development for IIRE (L-R) - Gail Lyons - NAR's President's Liaison to India (IIRE) | Nancye Kirk - Vice President, Startegic Initiatives, Executive Director-IREM Foundation | Ronald Sears - Director of International Operations, CCIM | Patricia Nooney - CPM, Past President-IREM | Mrs. Rao - Principal-Government Law College | Bob Behrens - CCIM, CRP, 2004 President-CCIM | Chetan Narain - President-IIRE | Naresh Malkani - Chairman-IIRE

Meeting with the Maharashtra State Board of Technical Education for the Real Estate Course, March 2004.(L-R) BP Tale - Director-MSBTE | Chetan Narain - President-IIRE, Bob Behrens - CCIM, CRP, 2004 President-CCIM | Naresh Malkani - Chairman-IIRE

(L-R) Ronald Sears - Director of International Operations, CCIM | Nancye Kirk - Vice President, Startegic Initiatives Executive Director-IREM Foundation (not seen), | Patricia Nooney - CPM, Past President-IREM | Gail Lyons - NAR's President's Liaison to India (IIRE) | BP Tale - Director-MSBTE

The Core Team from IIRE, NAR & MSBTE

International Consortium of Real Estate Associations

IIRE is on the board of the Executive Committee of ICREA - an alliance, whose members are leading national real estate organizations in the world's major markets. ICREA's primary objective is to assist members of the respective organizations in efficiently and profitably facilitating transnational business. ICREA and its member associations are committed to high standards of professional conduct for member brokers. Each member association has a country-specific code of conduct. Currently it has 25 member countries, and the number is steadily growing.

From L to R, Mr. Naresh Malkani - Chairman-IIRE, Ms. Gail Lyons - President's Liaison to India (IIRE), Mr. Chetan Narain - President-IIRE, Mr. Gordon Davis - Past President's Liaison to India (IIRE)

ICREA Executive Committee Board now comprises of the following countries: Australia, Canada, France, India, Ireland, Netherlands, Poland, UK & USA.

National Association of Realtors

The National Association of Realtors® was founded in 1908, as the National Association of Real Estate Exchanges. NAR is widely recognised as one of America's strongest, most effective lobbying organizations. With over 760,000 members across America, NAR is the "Voice for Real Estate" in the nation's capital. The National Association of REALTORS® is the first major trade group to offer certification for online professionalism. List of member countries:

Armenia Argentina Austria Australia Bahrain Barbados Bermuda Belgium Bahamas Belize Bulgaria Bolivia Brazil Chile China Canada Columbia Costa Rica Cayman Islands Czech Republic Denmark Dominican Republic England El Salvador Egypt Finland France Germany

Georgia Greece Guatemala Guam Hong Kong Honduras Hungary Indonesia India Ireland Israel Italy Jamaica Jordon Japan Korea Luxembourg Malaysia Macedonia, Froy Mexico Netherlands Nigeria New Zealand Norway Pakistan Peruo Philippines Poland Panama

Portugal Romania Russia South Africa Saudi Arabia Sweden Singapore Slovak Republic Spain St. Kitts Slovenia Switzerland Taiwan Turks & Caicos Islands B.W.I Thailand Trinidad & Tobago Turkey United Arab Emirates United Kingdom Ukraine Uruguay USA US Virgin Islands Venezuela British Virgin Islands West Malaysia

The International Networking Centre, at the Realtor Conference and Expo, held at San Francisco, USA October 2005, provided attendees with a convenient, comfortable atmosphere for networking and conducting business. Meet and Greet sessions with each country's representatives were scheduled to increase networking opportunities

Realtors Conference & Expo

Realtors Conference & Expo: Real estate professionals from the U.S. joined fellow professionals from more than 50 countries around the world at the 2004 REALTORS® Conference & Expo, at Orlando, USA, in November 2004. Over 25,000 real estate professionals and their guests made the 2004 REALTORS® Conference & Expo one of the best ever. More than 550 exhibiting companies participated and their exhibits were featured over a 137,000- square foot area.

The Embassy of India

Gail Lyons, CIPS, led the delegation to the Indian Embassy where they met with Acting Ambassador Rakesh Sood, Mr. Sunil Jain, Minister of Economic Affairs, and Ms. Sumitra Chowdhury, Third Economic Secretary. Naresh Malkani, Chairman of the Board of the India Institute of Real Estate (IIRE), also attended. The group discussed the current state of the Indian real estate market and the importance of improving market conditions and practices. Embassy officials indicated that as capital conditions improve in India, and infrastructure is built, the market will stabilize and become better organized through self-regulation. At this point it is likely that the current restrictions on foreign ownership will be lifted and the market will become more attractive to foreigners. Ambassador Sood acknowledged the significant opportunities an organized real estate industry provides, and supports IIRE's work with the officials in the state of Maharashtra on course offerings and licensing.

As an aside, this visit was very timely. Minister Jain indicated that the Embassy was currently in the market for five or six houses in the Washington area for Embassy personnel. One delegation member offered to provide Minister Jain with some assistance. A copy of the CIPS Directory was provided and the Ambassador encouraged Minister Jain to use it in connection with the planned property purchases. We'll follow that story for you.

Realtors^®Sign Agreement With Indian Counterparts; Offer Realtor^®Institute Training in India

Naresh Malkani, President & CEO, Indiaproperties(seated on the left), Gail Lyons, chairman of NAR's international committee(standing), Martin Edwards Jr., President,NAR(seated on the right) signing the bilateral agreement between ICREA and IIRE at the international convention in New Orleans on the 9th of November 2002.

NEW ORLEANS (November 10, 2002) – In a historic first, the National Association of Realtors^® and the India Institute of Real Estate have signed a bilateral agreement of cooperation. Working under license from NAR, the IIRE plans to provide training for its Indian members leading to an equivalent of the Graduate Realtor^® Institute certification.
Gail Lyons, chairman of NAR's international committee, said, "IIRE has submitted its basic principles and practice course for GRI accreditation. It is thus poised to become the first NAR international bilateral partner approved to confer the prestigious GRI on its members." Those members wishing to use the designation must join NAR directly, either through the Certified International Property Specialist Network, or as an International Realtor member.

"Globalization and the evolution of Indian government policies regarding privatization, plus the flow of foreign investments into India, are all contributing to bring Indian real estate to a critical crossroads. MLS, licensing, code of ethics, and other concepts familiar to us are developing and evolving rapidly in India, where real estate already accounts for some 35 percent of national gross domestic capital formation. This is an exciting and pivotal moment, and we are excited to be a part of it," Lyons said.

IIRE was founded in March 2002 as a nonprofit organization that seeks to provide quality education and raise the standards of the real estate industry in India. IIRE has joined with two profit-seeking entities, India Properties Institute of Real Estate, which conducts educational programs, and Indiaproperties.com, which provides computerized property listings and seeks to serve as a national MLS.

Naresh Malkani, a real estate professional from India who formerly operated a RE/MAX franchise in Rockville, Md., is the founder and chairman of IIRE. Professor Mona Shah, academic dean of IPIRE, will serve as the chief staff executive for IIRE.

Malkani said, "Following the signing of this bilateral agreement with NAR, we plan to launch educational and promotional activities city by city, beginning December in Mumbai and continuing over the next half year. Initial targets include development of national licensing standards centered around education and dissemination of a code of ethics as well as state-of-the-art practice in areas such as mortgage financing."

India, the fourth largest economy in the world, has an estimated 3 million real estate agents, of whom only about 10 percent are full-time. Although real estate plays a vital role in the economy, development of best practices standards in areas such as brokerage, commissions, licensing, and code of ethics will be important as the real estate industry in India modernizes its practice.

"Traditionally, Indians owned one home in a lifetime; now, with the advent of mortgage financing, allowing young people to buy a home, it's two or three homes. Until recently, the Indian markets were not leveraged, and hence were not sensitive to global economic influences. This, too, is beginning to change, bringing India into the world market," Malkani said.

The National Association of Realtors^®, "The Voice for Real Estate," is America's largest trade association, representing more than 840,000 members involved in all aspects of the residential and commercial real estate industries.

Agreement with NAR offers equivalent of GRI certification

Wednesday, November 13, 2002
Inman News Features

The National Association of Realtors and the India Institute of Real Estate have signed a bilateral agreement of cooperation. Working under license from NAR, the IIRE plans to provide training for its Indian members leading to an equivalent of the Graduate Realtor Institute certification.

IIRE has submitted its basic principles and practice course for the GRI accreditation and is set to become the first NAR international bilateral partner approved to confer the accreditation on its members, according to Gail Lyons, chairman of NAR’s international committee. Those members wishing to use the designation must join NAR directly, either through the Certified International Property Specialist Network, or as an International Realtor member.

"Globalization and the evolution of Indian government policies regarding privatization, plus the flow of foreign investments into India, are all contributing to bring Indian real estate to a critical crossroads," said Lyons. "MLS, licensing, code of ethics, and other concepts familiar to us are developing and evolving rapidly in India, where real estate already accounts for some 35 percent of national gross domestic capital formation."

IIRE was founded in March 2002 as a nonprofit organization that aims to provide education and raise the standards of the real estate industry in India. IIRE has joined with two profit-seeking entities, India Properties Institute of Real Estate, which conducts educational programs, and Indiaproperties.com, which provides computerized property listings and seeks to serve as a national MLS.

Naresh Malkani, a real estate professional from India who formerly operated a RE/MAX franchise in Rockville, Md., is the founder and chairman of IIRE. Professor Mona Shah, academic dean of IPIRE, will serve as the chief staff executive for IIRE

"Until recently, the Indian markets were not leveraged, and hence were not sensitive to global economic influences," said Malkani. "This, too, is beginning to change, bringing India into the world market."

Course for real estate agents, HDFC Realty

Netscribes / Hetal Sanganee

November 28, 2002

News Source: HDFC Realty

The National Association of Realtors (NAR)^®, America's largest trade association and the Indian Institute of Real Estate (IIRE), have signed a bilateral agreement of cooperation. As per the agreement, the IIRE plans to provide training for its Indian members; which would be equivalent to the Graduate Realtor Institute (GRI)^® certificate.

IIRE, founded in March 2002 as a non-profit organization, aims at improving the standards of the real estate industry in India. IIRE may well be the first NAR international bilateral partner approved to confer the fêted GRI^® on its members, once the practice course is approved. Members can either use the designation by joining the NAR directly or through the Certified International Property Specialist Network, or as an International Realtor member.

The parties to the deal have plans to launch educational and promotional activities in cities all over the country starting with Mumbai in December 2002. They are looking at developing national licensing standards by improving education and dissemination of a code of ethics.

Real estate has tremendous growth potential in India. But of the 3 million real estate agents in the country only 10 per cent are full-time agents. Although real estate plays an important role in the economy, development of best practices in areas such as brokerage, commissions, licensing, and code of ethics, is yet to be done. This agreement could serve to professionalise the real estate sector in India.

National Association of Realtors India (NARI)

Real estate agents across India have come together to form a national association for the first time, aiming to self-regulate their profession and to bring international practices to a predominantly unorganized sector.

To be called, National Association of Realtors India (NARI), the group has been registered under the Registrar of Societies Act as a not-for-profit organization. It has also tied up with US-based National Association of Realtors, which has more than 800,000 members and also has the trademark rights to the use of 'realtors '.

"There is a lot of discrepancy in the real estate business" because of the way agents function, said Farook Mahmood, founder president of NARI and managing director of Bangalore-based Silverline Realty. "We hope to evolve a uniform code of ethics for the members and also have provisions for punitive actions."

An integral part of the new body is the certification course. This course, to be made compulsory for all its members, will contain real estate mathematics, code of conduct and knowledge of real estate issues. The preliminary version of the course material, with some local content added, runs into 500 pages.

"It is a great step as more and more real estate companies are getting listed, and there will be a need for greater accountability and transparency," said Arvind Parekh, chief executive officer of corporate strategy and finance, Omaxe Ltd. "They will have to work in the interest of the investor and the end user. This move will also help in weeding out the shady real estate agents."

At present, regional associations from seven cities, including Chennai, Bangalore, Pune, Mumbai and Hyderabad, have agreed to take part in the national-level association. The plan is to increase participation to 10 cities by the end of first year of operations. The association also plans to establish an office in New Delhi within two months.

The real estate agents profession is unregulated in India. As a result, there are no standards in terms of service conditions or charges. The regional associations formed in the last seven or eight years in major cities have tried to address this issue. For example, one of the admission criteria of the Chennai Real Estate Agents Association is regular filing of income tax returns, according to Abdur Ravoof, secretary of the association. The national association, according to Ravoof, "will bring all agents under one umbrella, with common ethics and code on an all-India basis."

"The best regulation for any industry is self-regulation where the norms are set by the players themselves," said B.P. Dhaka, chief operating officer (Madhya Pradesh and corporate governance) of Parsvanth Developers Ltd. "Real estate industry already has bodies such as Credai (an association of developers) and National Association of Real Estate Development Companies. For any trade, it helps when the industry is better organized."

Source: livemint.com

NAR comes to INDIA

Its been almost 4 years that NAR (National Association of Realtors), USA, wanted to bring about some credibility to the Brokers in India. As we are all aware, Construction as an Industry doesn't enjoy the status of INDUSTRY, which has been long overdue. Add to that is the woes of Brokers not having any legal status as professionals while conducting business. This was harmful for both the customers and the brokers themselves. Unscrupulous fly by night operators became brokers and fleeced clients as there is no standard structure for brokerage fees.

At the same time, when clients duped brokers of their fees, brokers don't have recourse to legal remedy to recover the fees. As a result, bad debts for brokers are a way of life with no options for recovery.

Local brokers association has always existed, but that did not have a great impact on the national scenario. I have been part of a local association in Mumbai for the last 8 years and reaped the benefits of being a part of the community that is getting organized.

So when NAR intended to come to India, we immediately saw the benefits that would accrue to the realty community. I among with 30 other brokers were part of the first batch who took the NAR course in India and qualified to become Realtor(R).
After that i completed 2 courses - CIPS (Certified International Property Specialist) and TRC (Transnational Referral Certification).

These and other course offered by NAR is a tremendous opportunity for local brokers to get the coveted Realtor(R) Tag and add value to his business. Not only do these courses make them more productive and systematic in their work, but it opens a worldwide window of opportunities for brokers to do business all over the world. They become eligible to refer overseas clients and receive referrals from fellow Realtors(R) all over the world.
With NAR coming to INDIA, the local broker now gets an opportunity to go global.

New Delhi, Sept 18 : To integrate the realty brokers globally, National Association Realtors of India (NARI) today collaborated with two US-based realty organizations--International Real Property Foundation (IRPF) and National Association of Realtors.

"This will help the brokers, across the country as well as within the country, to collaborate and serve the customers better," NARI Founding Member Naresh Malkani told reporters here.

We are targeting to 1,00,000 members in the next five years from the current 450 members, he added.

NARI President Farooq Mahmood said ,"We will be conducting series of educational programmes, workshops and seminars on regular basis to empower the members to provide customer service at par with global standards." There will be a grievance cell, he said, where a customer can contact in case of illegal deal for which the member will be asked for explanation.

IRPF President and CEO Norman D Flynn said, "Assisting over 75 association across 15 countries representing 1,40,000 practioners, we are now expanding our activities to developing countries like India." NARI was formed in June 2007 as a non profit society.

Article " OUTLOOK MONEY - 15 September 2007 "

A layer from this sector recently raised India's biggest IPO. The Bombay Stock Exchange has introduced an index for it. Foreign investment of $10 billion is expected to flow into the sector over the next 12-18 months. And it is estimated to clock 30-plus percent growths in the next few years. This is India's resurgent real estate sector. Though it continues to be largely fragmented and opaque, the once lackadaisical, stringently red-taped sector is resolutely on its way towards consolidation and transparency.
The growth potential of real estate is immense, not only for end users and investors, but also for people looking to make a career in it. Among college students, graduates and working professionals-especially those with management, engineering and architecture backgrounds-realty studies are fast becoming a favorite.

"The boom in real estate has motivated me to enroll for a Master's degree in Planning, with a specialization in Housing," says Priyanka Gera, a student of the School of Planning and Architecture (SPA), Delhi. Employed with leading real estate consultants Jones LangLa Salle Meghraj (JLLM) in Delhi for the past two months, Gera is also pursuing a weekends only course in real estate management.

Enrolments are increasing in institutes offering short-term diploma courses as well as in colleges offering real estate specialization in their Master's program. P.S.N. Rao, professor at the SPA. says that on an average 20 of the 75 students from the Masters in Planning program choose to do a thesis on real estate. "This figure was negligible when the course was introduced as an elective 10 years ago," he adds.

Dedicated institutes have sprung up and management schools have introduced specialized courses on the subject to cater to the increasing demand. Indian School of Business (ISB), Hyderabad, launched a course titled 'Property Finance and Investment' last year.

The Pune-based Indian Institute of Real Estate (lIRE), affiliated with the National Association of Realtors (NAR) , a leading association of realtors in the US, had 10 students when it was launched in 2001. "Today, we get more than 3,000 enquiries per month for our online course," says Suresh Malkani, founder and academic dean, lIRE.

Why should you enroll? Instead of hard to-spot jobs and low wages. the sector can now spoil the qualified person for choices. Not all the courses on offer are new, but the context is. A number of real estate MNCs have already set up shop in India; more are following suit. Home-grown firms, too, are joining the fray, pushing up the demand for qualified personnel.

"There is an immense dearth of trained manpower in this sector," says Nirmal Purushottam, principal, Yajnas Academy of Real Estate Management, Hyderabad. His views are backed by Haresh Motirale, senior manager, marketing and sales,

G:Corp Properties, Mumbai, who completed a course from the lIRE in 2002. "A specialised course definitely gives you an edge over those who haven't done it," he says.

Job functions on offer. The scope of jobs in the sector is widening. "Openings have definitely increased over the past three years," says Kanika Vaswani, associate partner, Elixir Web Solutions, a placement agency. "Now we get 10-12 requests for candidates in a month from well-known developers, largely for the positions of site supervisors, quality surveyors, billing professionals, materials procurement personnel and project managers."

Besides the technical essentials, realty education focuses on management studies. "Realty management courses give students a managerial perspective and help them understand finance and marketing," says Purushottam.

Industry watchers say the day is not far when campus recruitments will become the norm in the real estate sector. "Our students are posted in companies like Tischrnan Speyer, JLLM and Macquarie Group," says Bhuvana Ramalingam, direc tor (communications), ISB. "They are offered positions like general manager and senior manager." Consider Delhi-based Anu Punj, 23, a graduate from the SPA with specialization in Housing. She was snapped up immediately after her course by Emmar-MGF. a leading realty MNC. She is working as an assistant manager (planning) in the firm now.

Accreditation and eligibility: Eligibility criteria vary across institutes and accreditation ranges from the Centre to the state level. For instance, while the lIRE is affiliated to the Maharashtra State Board of Technical Education. the Master's programme at the Centre of Environment Planning and Technology (CEPT) , Ahmedabad, is approved by the All-India Council for Technical Education (AICTE).

Typically, enrolling in long-duration courses requires a Master's degree; diploma courses will accept a regular graduate or even a Class XII pass. PG courses generally last two years, while short-term courses can vary from eight months to a year (see Building Blocks). Master's courses are generally comprehensive, covering several aspects related to housing and real estate. Says Madhu Bharti Sharma, head of the Department of Housing at CEPT. "The Programme of Planning, with Housing as a specialization. covers housing policy, housing requirement, housing finance, land economics, real estate development and various methods of development (commercial, residential, resorts and leisure)."

Returns and prospects. Expect five-figure salaries at the entry level. Gera, for instance, earns Rs 3 lakh a year. As the property market gets more organized and competition intensifies, the figures are bound to get better.

The sector has covered good ground so far, but what if it hits a downward spiral? Says Malkani: "A slump will impact the rates per sq ft, not employability. There will still be demand for qualified professionals in allied fields like property financing, estate management and property upkeep." But the sector is not foreseeing a downswing in demand. Rather, it is looking forward to institutes offering students relevant courses through correspondence or online, besides classrooms.

As the sector consolidates and matures, education material, too, is expected to improve. While the lIRE sources course material from the NAR, several institutes are exploring partnerships with universities in countries with mature property markets. The SPA, for instance, is forging a tie-up with a UK-based institute. The ISB, in partnership with two London-based schools, has instituted the country's first Research Chair in Real Estate and Urban Studies, besides forming a Real Estate Club to promote realty education.

It's time to get real.

Article : "economictimes.indiatimes.com - 19 September 2007"

NARI ties-up with IRPF to organize realty brokers
NEW DELHI: National Association Realtors of India (NARI) on Tuesday joined hands with International Real Property Foundation (IRPF) to organize and set global standards of practice and excellence among the realty brokers.

"The basic intention of NARI and its association is to improve the image and credibility of the real estate brokers in the country," NARI Chairman P S N Rao told reporters here.

NARI and US-based IRPF signed an agreement for assistance of technical expertise and other guidance to the domestic body.

With over one lakh unorganized real estate brokers in the country, NARI aims to be the apex body of the agents in India.

"We want to bring all the realty agents under one single umbrella in next five years and position the organization as a credible voice of Indian real estate brokers," Rao added.

National Housing Bank Chairman and Managing Director S Sridhar spoke on the occasion, " This is a welcome development. So far, the Indian real estate market is not as robust and systematic as others, like capital market."

He also suggested NARI to look into the valuation aspect of the real estate properties.