A clear law to protect the real estate consultancy profession

Ismail Al Hammadi

September 27 2022

We discussed in several previous topics the real estate consultancy profession and its role as an activity licensed to practice in the real estate field in the market, and who are concerned with it, or rather who have the authority to provide it.

However, the spread of some negative phenomena on this subject prompts us to talk about the subject again, because the repetition of topics would spread more awareness and push for action to combat these phenomena.

Does the real estate broker have the right to provide real estate advice?

Legally, no, because the real estate consultancy profession is a licensed profession and the real estate activity is completely separate from the real estate brokerage activity.

If we want to make sure of this, we refer to the Real Estate Brokerage Law approved in the Emirate of Dubai in particular, Regulation (No. 85) of 2006 regulating the register of real estate brokers.

This law includes 47 articles, none of which stipulates that the real estate broker is one of his duties to provide real estate advice to the buyer.

There is a whole chapter (Chapter III), which talks about the duties and obligations of the broker, all of which are duties far from providing advice. If we look from the legal point of view, the broker who provides real estate advice is considered an intermediary in violation of the law. The disadvantages of this property are prices and payment plans only.

Many investors and clients of the real estate sector, especially new ones, are affected by wrong advice stemming from some brokers who have nothing to do with this profession, which has led to these clients bearing additional burdens on their investments.

In order to avoid such negative aspects and their harmful effects in the market, the real estate consultancy profession must have a proper place in the real estate market and a strong position imposed by the real estate law in a clear and orderly manner, given the importance of the role of the specialized real estate consultant in enhancing and revitalizing clients’ confidence in the sector.

The law should also impose deterrent penalties on persons and companies who work in this profession without a license approved by the relevant authorities, with the need to allocate efforts to qualify real estate consultants to practice real estate consultancy activity in a manner that ensures the preservation of the rights of this profession in the market, and to consolidate its role in serving the real estate sector and its benefits. benefit.

Until now, despite the importance of the role of real estate consultancy in the market, we still lack an explicit and clear law regarding this activity, although there are local and international companies in the market under the name of “real estate consultancy”.

We lack a special law that explains how and conditions to practice this profession, what conditions must be met by a real estate consultant to become a certified consultant, and what are his duties and obligations.

In this context, we invite the concerned bodies to reconsider the organization of this profession and to separate it from the real estate brokerage profession.

We also invite clients and investors to deal with licensed offices in this field and to stay away from dealing with people far from them to avoid potential risks and crises on their investments in the future.



To read the previous articles of the writer please click on its name.