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Real Estate Regulatory Agency in Dubai crackdown on broker violations

Property Wire
Real Estate Regulatory Agency in Dubai crackdown on broker violations - property regulatory - Dubai - property agent

Dubai’s Real Estate Regulatory Agency (RERA) is considering fining individual property brokers for violations rather than the firms they work for, it has been confirmed.

It has held a series of meetings with firms as part of an ongoing revamp of the system aimed at making the emirate’s real estate industry more transparent, said Al Hashmi, director of RERA's Real Estate Licensing Department.

The Real Estate Permits and Inspection Section has already carried out a study to monitor  violations. Preliminary findings show that the top violations by brokers are hiding information from investors, failure to maintain the privacy of the firm and client, using telephone calls for promotion and advertisement purposes without obtaining official approval, and arranging deals without the knowledge of their accredited office.

Twelve companies failed to register the real estate broker, while seven companies violated the type of licensed activity by performing other activity.

Other irregularities include failure to mention the company's registration number, failure to register the licence in the brokerage registry and failure to renew the broker ID card.

‘RERA is working to create professional real estate environment in Dubai governed by clear laws and regulations,’ Sultan Al Suwaidi, section manager.


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