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New system to regulate Real Estate marketing as per the Regulator

RERA, (Real Estate Regulatory Authority) which is the regulatory arm of Dubai Land Department confirmed that it is mandatory to have a marketing agreement between authorities & brokers of real estate because of which the permits through e-service system will be issued.

The written agreement will authorize the property owners to carry out their marketing campaigns, this is according to form An of real estate marketing agreement of RERA’s revelation, which holds important feature of the electronic permit system.

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Picture Courtesy: emirates247.com

The director, Ali Abdullah Al Ali of real estate licensing department of Dubai commented that the Dubai land department wishes to establish safe & attractive property investments. The focus is to enhance the growth of real estate industry, for the further development of local economy.

DLD works towards effective & strong regulation of Dubai real estate industry to support these objectives. The process of advertisements is regulated by a specific agreement which defines the role of each party involved in real estate sales or rent totally. This will guarantee all the party rights including landlords, brokers, and investors.

This statement of RERA revealed that the marketing agreement is necessary between real estate brokers and owners in order to issue the work permit through e-service system.

All the advertisement mechanism of real estate Dubai will be regulated through this system, with RERA facilitating the marketing agreements between the landlords and brokers through its form A.

The property owner is required to sigh Form A for authorizing the brokerage offices to market any properties, for the broker to obtain permission from DLD to represent the properties for sale or for lease.

The landlord is permitted to deal especially with more than one real estate broker for the marketing of any property.

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