The Real Estate Regulatory Agency (RERA), has launched the ‘Real Estate Brokerage Practice Guide’.
RERA, which is the regulatory arm of the Dubai Land Department (DLD), launched the guide to “enhance the level of awareness and knowledge of all real estate brokers and raise their professional competence.”
The new guide lists out all the information, laws and procedures related to the brokerage profession and the ways to practice it in Dubai to increase familiarity with the regulatory procedures.
The laws, procedures and regulations that the guide highlights include the Trakheesi system, the Dubai REST application, smart marketing and sales contracts.
The criteria for classifying brokerage offices and brokers, the green list, the mechanism for marketing off-plan projects, amicable settlements and obtaining a broker card are also listed out in the guide, followed by the real estate brokerage register in Dubai, a number of real estate circulars, the ethics of practicing the profession, and others.
The Real Estate Brokerage Practice Guide also helps ensure that they carry out real estate transactions in a healthy and transparent manner, and fully commit to all laws to avoid any practices outside this framework, which may entail taking legal measures against violating companies, WAM said in a statement.
Ali Abdullah Al Ali, Director of the Real Estate Licensing Department at RERA, said: “We offer an integrated service for real estate brokers that helps them fully and comprehensively understand the concept of practicing in Dubai in accordance with the best standards, thus contributing to our journey towards enhancing the happiness and confidence of investors and customers alike in Dubai’s real estate environment,” RERA’s director of the real estate licensing department Ali Abdullah Al Ali said.
“We are always keen to ensure that our services are professional and of high quality, for a pioneering and sustainable real estate ecosystem, whose effects are reflected by all sector stakeholders, including investors, customers and brokers,” Al Ali added.
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