Realty Broker Licensing PlannedMonday, December 29, 2008
No more freelancers will operate in Dubai's property sector as all real estate licensing procedures are now set to be operated under one, uniform system, according to an agreement signed by the Department of Economic Development (DED) and Dubai's Real Estate Regulatory Authority (Rera). As real estate plays such a big role in Dubai's economy, the introduction of a new system will make licensing more transparent and easier for all those involved in the process. One example of the changes in the current licensing agreement is that where previously any UAE national or GCC nationals could open a brokerage, now there are strict criteria that need to be met and certified.
They need to be over 18, they need a good conduct certificate by CID, they must pass the Rera training course and the manager must be certified and trained by Rera. It will all be embedded within the system. There will be no more freelancers in the market," Marwan Bin Galita, chief executive of Rera, told Gulf News. Real estate activities include those of developers, agents, consultancies, land appraisers and other related activities. The DED will use its own licence and business registration system for issuing licences related to real estate activities, according to procedures applied by Rera.Source: Gulf News