To control market activity and limit the presence of any intruders
Realtors demand training courses and “tests” for real estate brokerage workers
Real estate brokers are the front of the real estate sector in Dubai.
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Realtors demanded the necessity of having a system for real estate brokerage companies, which includes an "insurance" of at least 300,000 dirhams, similar to other systems such as those of real estate development companies and real estate management.
And they stressed, through "Emirates Today", the importance of organizing training courses for workers in the real estate brokerage sector, periodically, to enhance knowledge of laws and legislation in the real estate market, and to subject employees to tests, to control market activity.
The importance of the system
In detail, Walid Al Zarooni, Chairman of the Board of Directors of W Capital Real Estate Brokerage, confirmed that the number of real estate brokers in Dubai is constantly increasing.
He stressed the need to establish a system for real estate brokerage companies, which includes the presence of insurance of at least 300,000 dirhams, so that only serious people join this field, pointing to requirements related to real estate development companies, such as the real estate developer having a land, and the availability of 50% of the value of the project, to allow The Department of Lands and Properties sells off-plan properties, in order to preserve the rights of investors, and the same applies to real estate management, as this requires a bank guarantee estimated at five million dirhams.
Training courses
Al-Zarouni pointed out the importance of having training courses, as the real estate broker who has a desire to renew the license annually must attend a training course with a test, to develop knowledge of laws and legislations.
He said: "There are people who practice real estate brokerage, but they are not familiar enough with real estate legislation, and therefore, we find them providing incorrect information, and this is unhealthy and harms the real estate market."
Regulatory Terms
For his part, CEO of Standard Real Estate Management Company, Abdul Karim Al Mulla, said that the problem is not with the real estate broker obtaining the license, especially after fulfilling the regulatory conditions, calling for the need to increase the conditions and standards.
He added: “(Practice) is the problem that adheres to the conditions that the real estate broker is licensed and works according to the regulations and laws,” pointing out that most of those who work as real estate brokers are not registered or have offices, and this is the problem, as they are not subject to laws and regulations.
Al-Mulla stressed the need to control “practice,” pointing out that the conditions set by the Real Estate Regulatory Agency control the market, and that any real estate office cannot begin its work without obtaining a permit and license from the “Real Estate Regulatory Authority.”
It was agreed on the importance of organizing training courses for real estate brokers periodically, and subjecting employees to tests from one period to another, to control market activity and limit the presence of any intruders.
good control
In the same context, the managing director of Harbor Real Estate Company, Muhannad Al-Wadiya, said that the real estate market includes thousands of real estate brokers, but there is good supervision by the Real Estate Regulatory Agency, which has put in place organized controls.
He added: «There are laws, including Law No. 85 of 2006, which was issued to regulate the process of real estate brokers, and courses have been established for training and licensing real estate brokers, and there is also oversight, in addition to the availability of a classification system for real estate brokers' offices, including gold, silver, and bronze, And the year.”
Al-Wadiya explained that these classifications are based on factors, including compliance with laws and legislation, innovation, community work, the size and number of deals, in addition to the academic qualifications of the work team, and the degree of satisfaction of those dealing with them. Real estate companies.
Al-Wadiya agreed on the need to tighten control over real estate brokers, so as not to deviate from laws and legislation, or to exploit some foreign investors who do not have experience.
Al-Wadiya stressed that real estate brokers are the front of the real estate sector in Dubai, and the good part represents it well, so everyone must be organized, educating, training and enticing those who work wrongly, to work better, and for all companies to obtain a gold rating.
He pointed out that imposing training courses is one of the conditions for obtaining licenses, and that all employees working in mediation must have a license, calling for the need for more development in training programs and educational material.
He said, "Real estate brokerage is an integral part of any real estate market, and requires academic qualifications and experience," directing a message to all real estate brokers of the need to adhere to laws and legislation, provide exceptional customer service, and self-invest in developing their information and expertise, because they do not represent their companies only, but the city of Dubai which must be represented in an honorable manner worthy of it.
Great facilities
In addition, the founder and director of the "Royal Liwan Real Estate Company", Mohamed Buhareb, confirmed that there are great facilities in the establishment of real estate brokers' offices, which creates a kind of glut in them, proposing the organization of the establishment of these offices, and that there be a ceiling for them.
He added that some brokers have a large database, as well as a large network of information and dealers, which contributes to selling real estate units faster. He stressed the importance of having oversight in terms of information, transparency in prices, and clarification of real estate information, as well as the importance of being There are annual, quarterly, or semi-annual refresher courses regarding real estate laws and regulations in the market.
tighten control
The Director General of Awad Gargash Real Estate Company, Dr. Raad Ramadan, stressed the need to tighten control over the real estate brokerage sector, especially since there are data related to real estate owners that are circulated in the market without oversight.
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