Dubai: The Real Estate Regulatory Agency has issued a set of updated guidelines for real estate professionals in Dubai. Major reforms were made this year in how brokers can participate in the purchase, sale, or lease of properties. This includes the landmark decision to limit the number brokers who can transact property deals at any one time.
A strict pre-approval was required for property ads. These requirements are all mentioned in the “Real Estate Brokerage Practice Guide” and the methods to practice it in Dubai. This is to ensure that ‘all are aware of these regulatory procedures and ensuring that they conduct real estate transactions in an ethical and transparent manner’ according to RERA.
“And fully agree to all laws to prevent any practices outside of this framework, which could entail legal measures against companies violating these rules.”
Ali Abdullah Al Ali (Director of Real Estate Licensing Department, RERA) stated that they offer a comprehensive service to real estate brokers. This allows them to fully understand and comply with Dubai’s best practices. Our services are of the highest quality and professional, which will help create a sustainable and pioneering real estate sector. This ecosystem will be reflected in all stakeholders including brokers, investors, and customers.