RERA declared that there must be a written agreement in which property owners authorise real estate brokers to carry out their marketing campaigns.
The Real Estate Regulatory Agency (RERA), the regulatory arm of Dubai Land Department (DLD), recently made an announcement about its new Real Estate Marketing Agreement – Form A – an important aspect of its electronic permit system. RERA declared that there must be a written agreement in which property owners authorise real estate brokers to carry out their marketing campaigns.
Commenting on this, Ali Abdullah Al Ali, Director of the Real Estate Licensing Department at Dubai Land Department said, “Dubai Land Department seeks to establish safe and attractive property investments. We aim to enhance the growth of ourreal estate industry, in order to further develop the local economy. To support these objectives, DLD works towards strong and effective regulation of the Dubai real estate industry. We regulate the process of advertisements within a specific agreement that defines the role of each party involved in any real estate sales or rent with total precision, which will guarantee the rights of all parties, including landlords, investors and brokers.”
RERA’s statement announced that the Real Estate Marketing Agreement is mandatory between owners and real estate brokers which will result in the issuance of permits through its e-service system. All Dubai real estate advertisement mechanisms will be regulated through this system, with RERA facilitating marketing agreements between the landlords and the brokers through its Form A.
The property owner is required to sign Form A to authorise real estate brokerage offices to market any properties, in order for any broker to obtain permission from DLD to represent properties for sale or for lease. The landlord is permitted to deal exclusively or with more than one real estate broker for the marketing of any property.
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