DUBAI 4 November 2018: Dubai Land Department (DLD) announced that the real estate brokerage commissions reached Dh842 million in the first nine months of 2018. The brokers facilitated 18,121 transactions.
That works out to an average of Dh16,641 per month per broker.
The report issued by the Department of Real Estate Studies and Research at DLD shows that brokers earned Dh429 million from land sales, Dh73 million from building sales, and Dh340 million from residential unit sales.
The report also revealed high activity among women as real estate brokers in the market, where 1,901 female brokers registered 5,617 transactions with commissions amounting up to Dh261 million.
Some 5,622 brokers re registered. The number of accredited permits issued by DLD to real estate brokers — representing 2,436 offices — amounted to 4,686.
DLD advises customers to choose licensed and accredited real estate brokers and urges them to ensure that the broker holds a ‘Certified Real Estate Broker’ card. DLD follows a broker accreditation mechanism to establish a secure real estate environment for all parties in the market that relies on the systems, legislation, and controls that regulate this activity.
DLD organises training courses through the Dubai Real Estate Institute (DREI), including the intensive primary course that rewards successful applicants a ‘Certified Real Estate Broker’ card upon its completion. Additionally, DLD provided the ‘Dubai Brokers’ app through which anyone can enter property ownership details to verify and validate any of the property’s information for involved parties. The Real Estate Licensing Department at DLD encourages all real estate brokers to download this application to ensure that the required data is verified before selling or leasing a property.
