Property brokers face annual assessment to renew licenses

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Dubai Land Department’s Real Estate Regulatory Agency (RERA) has stated in an official notice that property brokerage agencies and offices in Dubai must now qualify in an annual test before their licenses are renewed.

Property brokers face annual assessment to renew licenses

Property brokers face annual assessment to renew licenses

According to the new ruling the test will be given and facilitated by the Dubai Real Estate Institution (DREI) which is the educational branch of the department. The letter said that RERA will not accept any request for the license renewal unless they comply with the requirements which include the presentment of the test results together with the fee.

The Land Department explained that the new rule is necessary to ensure that Dubai’s real estate brokers are fully outfitted and all set to carry out their services to their clients in the sector.

The brokers are given a grace period of one month, just before their brokerage licenses lapse, to register and send their application for the test.  If brokers failed to comply with the cut-off time for the registration, they will be required to take a course as a precondition for the renewal of their licenses adding the computed fee for the course.

There is also a notice with regard the cessation of the expired brokers’ licenses. Those licenses expired for six months or more will be terminated from the date of the circular’s issuance according to RERA.

Mohamed Dekkak