The 'Real Estate Brokerage Practice Guide' lists all of the requirements licensed professionals need to follow. And the penalties for breaches. Image Credit: Gulf News Archives

Dubai: An updated set of guidelines that real estate professionals should adhere to in Dubai has been issued by the Real Estate Regulatory Agency. This year has seen major reforms in the way brokers can be involved in buying, selling or leasing properties, including the landmark decision to limit the number of brokers involved with transacting a property deal at any given time.

Another requirement was for strict pre-approvals when it came to property advertisements. All of which find mention in the ‘Real Estate Brokerage Practice Guide’ and the ways to practice it in Dubai, to ensure ‘all are familiar with these regulatory procedures; thus, ensuring that they carry out real estate transactions in a healthy and transparent manner’, according to RERA.

“And fully commit to all laws to avoid any practices outside this framework, which may entail taking legal measures against violating companies.”

According to Ali Abdullah Al Ali, Director of Real Estate Licensing Department at RERA, said: “We offer an integrated service for real estate brokers that helps them fully and comprehensively understand the concept of practicing in Dubai in accordance with the best standards. We are always keen to ensure that our services are professional and of high quality, for a pioneering and sustainable real estate ecosystem, whose effects are reflected by all sector stakeholders, including investors, customers and brokers.”