New Rule: To market properties in Dubai, first sign an agreement
Estate agents now will have to enter into a written agreement with the property owner in order to market properties in Dubai. This is after DLD (Dubai Land Department) made its latest announcement in which it makes it compulsory for estate agents to get written consent from the property owner to market properties in Dubai.
Once the written agreement between the owner and the estate agent is in place, the estate agent is required to obtain a special permit, before launching the marketing campaign. The permits to market properties in Dubai will be issued by RERA (Real Estate Regulatory Agency) through its e-service system.
As per a statement by RERA, “all Dubai real estate advertisement mechanisms will be regulated through this system, with RERA facilitating marketing agreements between the landlords and the brokers through its Form A.”
This has been done by DLD with an intention to build trust, boost investor confidence and promote Dubai’s real estate market as one of the safest investment destinations in the world.
“The property owner is required to sign Form A to authorise brokerage offices to market any properties, in order for any broker to obtain permission from Dubai Land Department 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.”
Commenting on the matter, Ali Abdullah Al Ali, Director of the Real Estate Licensing Department at Dubai Land Department said, “Dubai Land Department seeks to establish safe and attractive property investments. We aim to enhance the growth of our real estate industry, in order to further develop the local economy. To support these objectives, DLD works towards strong and effective regulation of the Dubai real estate industry. 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.”
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