In recent news, the Real Estate Regulatory Agency (RERA), the regulatory body of the Dubai Land Department (DLD), issued an official notice stating that all property brokers within Dubai must pass an annual test to retain their license to sell property. According to the new rules, property brokers in Dubai must clear the annual Real Estate Brokerage License test administered by the Dubai Real Estate Institution (DREI). This move aims at professionalizing Dubai’s property sector by educating brokers about their rights and duties so they may serve their customers better.
RERA has conveyed the new rules to all the property agencies and offices within Dubai via an official notice. According to RERA’s Real Estate Licensing Department, brokers are required to register and apply for the test one month prior to the expiration of their license. The registration fee for the Real Estate Brokerage License is AED 700. However, if brokers do not abide by the time limit, they will be required to enroll for the Real Estate Certified Training for Brokers course which costs AED 2500.
In the official notice issued, RERA also mentioned that any license that has expired for six months or more will be automatically cancelled in 10 days from the release of the circular. Hence, it has called upon all brokers to immediately renew their licenses in order to avoid the cancellation and the hassle of the restarting the registration process.
If you’re a property broker in Dubai, ensure that your license is renewed! You can register for the course at www.drei.ae. The DLD website has also published a list of approved brokers, click here to read it.
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