DUBAI: Check the credentials of your broker when buying a home, land or apartment in Dubai.
A total of 32,932 transactions amounting to Dh1.52 billion were performed by 5,933 active brokers and 2,285 registered offices in the real estate market of Dubai last year.
There are 1,946 women compared to 3,987 men, representing 33 per cent of the total numbers of brokers, according to Dubai Land Department, DLD, report, which stressed the importance of dealing with accredited and licensed real estate brokers who hold a real estate broker card issued by the department.
The message is consistent with the efforts made by the department to establish a secure real estate environment for all parties operating in the sector.
In late 2016, the department released a report confirming that real estate brokers play an important role in supporting DLD’s vision by enhancing the rate of property transactions in the Emirate.
“Our mission is to create a secure and sustainable real estate environment in Dubai, and this informs all of our operations and services. Dealing with registered and certified real estate brokers is central to achieving this, and to guarantee their rights, customers and investors must take great care in verifying the accuracy of ownership data for all property before entering into buying, selling and leasing activities,” said Yousif Al Hashimi, Deputy CEO of Real Estate Regulatory Agency (Rera), the regulatory arm of DLD.
DLD is regulating broker activities, by issuing controls and protocols via its various specialised sections and administrations. These are designed to guarantee the rights of all parties and reflect the crucial role brokers play in promoting Dubai’s real estate market.
Training
The department also runs comprehensive training programs that qualify brokers for work in this sector, including intensive initial sessions that award successful candidates with certified real estate broker cards. The training programmes teach brokers to perform with high efficiency and full transparency, while also providing high quality service and managing queries and complaints professionally.
The department also supports brokers in the field with its ‘Dubai Brokers’ smart application, which allows parties to enter ownership data and verify its accuracy for all properties. The Real Estate Licensing Department encourages all real estate brokers to make full use of this tool prior to the sale or lease of any property.
On the importance of the ‘Dubai Brokers’ application, he stressed that the tool has been designed to help brokers successfully close deals that are free of errors and complications, “Brokers can download this application from the ‘Play Store’ or the ‘Apple Store’ to take advantage of the many services at their fingertips. It is a crucial tool for everyone operating in Dubai’s real estate sector, including brokers, property owners, investors and buyers.”
DLD’s report reveals that UAE citizens ranked first in terms of the number of brokers in the market, followed by Indian nationals and Pakistani nationals, who have also achieved excellence in this field.
In descending order, the other most active nationalities in the real estate market were from the UK, Egypt, Russia, Lebanon, Jordan and the Philippines.
– By Angel Chan