RERA to regulate property marketing in Dubai
All real estate advertising in Dubai will be regulated through an e-service system, with RERA facilitating agreements between landlords and brokers through its Form A
Real Estate Regulatory Agency (RERA), the regulatory arm of Dubai Land Department (DLD), announced that a real estate marketing agreement is mandatory between property owners and real estate brokers.
The agreement will "result in the issuance of permits" through RERA's e-service system, WAM reported.
RERA said the marketing agreement's Form A is an important aspect of its electronic permit system.
A written agreement must be reached at under which property owners authorise real estate brokers to carry out their marketing campaigns.
All real estate advertising in Dubai will be regulated through the e-service system, with RERA facilitating marketing agreements between landlords and brokers through its Form A.
The property owner is required to sign Form A to authorise real estate brokerage offices to market any properties, in order for any broker to obtain permission from DLD to represent properties for sale or for lease.
The landlord is permitted to deal exclusively or with more than one real estate broker for the marketing of any property.
Ali Abdullah Al Ali, director of the real estate licensing department at DLD said the move is in line with the agency's aim to establish "safe and attractive property investments".
He added: "We regulate the process of advertisements within a specific agreement that defines the role of each party involved in any real estate sales or rent with total precision which will guarantee the rights of all parties, including landlords, investors, and brokers."