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The Real Estate Regulatory Agency has released a set of updated guidelines for real estate professionals in Dubai. This year, major reforms have been carried out in how agents can participate in the purchase, sale or rental of real estate. This includes the landmark decision to limit the number of brokers who can make real estate transactions at any given time.
For real estate listings, strict pre-approval was required. All these requirements are mentioned in the «Guide to the Practice of Real estate Brokerage» and methods of its application in Dubai. According to RERA, this is done so that «everyone is aware of these regulatory procedures and ensures that they conduct real estate transactions in an ethical and transparent manner».
«And fully agree with all laws to prevent any practice that goes beyond these limits, which may entail legal action against companies that violate these rules».
Ali Abdullah Al Ali (Director of the Real Estate Licensing Department, RERA) stated that they offer comprehensive services to real estate agents. This allows them to fully understand and comply with Dubai's best practices. Our services are of the highest quality and professionalism, which will help create a sustainable and innovative real estate sector. This ecosystem will be reflected in all stakeholders, including brokers, investors and clients.
