Rera to regulate Dubai’s real estate agents
Dubai-based Real Estate Regulatory Authority (Rera) has launched a four-tiered…
September 9, 2009 12:01 by kippreport
Dubai-based Real Estate Regulatory Authority (Rera) has launched a four-tiered, color-coded classification system that will help regulate real estate agents in the emirate, reports Arabian Business.
“The big change is that broker licenses will now be linked to specific areas. We will no longer face a situation where someone licensed by a free zone which owns no property can be registered to sell real estate in other parts of Dubai,” said Mubarak Al Jafla, RERA’s head of broker registration.
“The overall effect will be to limit the number of licensed brokers selling property in Dubai to those who are able to offer a professional, expert and dedicated service.”
Real estate agents can either apply for their licenses from Rera now, or when their current licenses expire.