It is now compulsory for all the real estate agents working in Dubai to pass the annual test to renew their license. The Real Estate Regulatory Authority (RERA) announced that it is necessary for every property agent working in Dubai to pass the test to renew their license annually. This step is taken to professionalize the growing property sector.
According to Gulf News, RERA has made it compulsory to every agent working in Dubai. RERA, which comes under Dubai Land Department, made the decision to make the property sector more robust.
Every registered broker must pass the test to renew their license. The test is administered by Dubai Real Estate Institute (DREI). The step is taken to grow the real estate in Dubai. Every brokerage agency and individual agents must undergo the licensing procedure before making any business in Dubai.
Authorities said that they have already informed all the brokerage agencies and offices in Dubai via notice about the new licensing procedure. Authorities will not process any application for brokerage license renewal until it comes with the test results.
The test fee is AED 700. According to Dubai Land Department (DLD), it will ensure that all the agents are well prepared to serve their clients in real estate sector.
It is also compulsory for real estate agents to apply for the test one month before their old license expiry date.
All the real estate agents must get this done without delaying because failure to comply means that real estate brokers have to undergo a training course to get the license renewed.
The training course fee is AED 2500.
RERA will also cancel all the expired licenses within the ten days of the notice being sent to brokers. All the property agents must act fast in order to get their license renewed otherwise their license will be cancelled.
Visit a list of approved brokers on RERA website. You can search Bluechip Real Estate by Office number: 308.
Visit Bluechip Real Estate home page for all the latest property listings. Buy, Sell or Rent properties or get a professional advice Call 043 95 1212.