The real estate market in Dubai is expanding day by day. The real estate market of Dubai is especially known for luxurious properties and impressive architecture in lively neighborhoods. So there are many investors who want to invest in Dubai’s real estate market. However, it is a daunting task for real estate agencies operating in Dubai to maintain the trust of clients. For that, these agencies must follow the rules and regulations regarding the real estate market. Explore the RERA certification benefits, a crucial rule for Dubai real estate professionals.
The Real Estate Regulatory Agency (RERA) ensures that the agents working in the real estate market of Dubai are transparent and professional in their field. So the RERA issues a certificate to agencies that meet the standards that are set by the regulatory authority. RERA Certification for Dubai Real Estate Professionals is important because getting the RERA certification means you are a professional working under the rules and regulations. It helps in gaining the trust of clients and makes you stand out in the competitive real estate market.
This post highlights RERA certification benefits in Dubai, the procedure for obtaining the certificate, and all the necessary information that you need to know.
What is RERA in Dubai?
To oversee the real estate sector in Dubai an agency (RERA) was established by the government in 2007.
The Main Objectives of RERA are:
- Setting policies and making plans for Dubai’s real estate market
RERA sets policies and makes plans for Dubai’s real estate market. These policies and plans are made with the vision of attracting foreigners to invest in Dubai’s real estate market.
- Providing a transparent and effective legal framework
RERA makes sure that there are clear rules for everyone in Dubai’s real estate market. These rules are applied to everyone who is the part of real estate market of Dubai which includes renters, landlords, developers, and brokers.
- Settling disputes between tenants and landlords
RERA is in charge of clearing misunderstandings between landlords and renters. It has a dispute-solving process to handle such kind of situations.
- Developing an online platform for the real estate sector
To make Dubai’s real estate market user-friendly, RERA provides renters, buyers, sellers, and investors with online services. It makes it easy for tenants to find rental places and buyers can search for properties. Investors can access market data and find the best investing opportunities.
Steps to Obtain a RERA Certificate in Dubai
To obtain the RERA certificate, it is important to follow some steps. These steps of the RERA certification process are:
- Eligibility check
It is important to meet the eligibility criteria if you want to obtain the certificate. The minimum age to apply for the certificate is 21. Your qualifications and experience are also included in the eligibility criteria for the RERA certificate.
- RERA approved training
Completing training programs and courses approved by RERA is important. The training programs depend on the certificate you want. These programs usually last for 4 days and teach about the main things about the real estate market of Dubai.
- Pass the RERA exam
To check your understanding of the real estate market, RERA conducts a written exam after you complete your training. It is important to pass the exam if you want to want to obtain the RERA certificate.
- Document submission
Submission of the required documents is important. These documents include a copy of your residency visa or Emirates ID, photographs or passport copies, proof of completing the RERA training and passing the exams, good conduct certificate from Dubai police.
- Obtaining license
You can obtain your RERA certificate/license after following all these steps.
- Renewal
It is important to keep renewing your license when its renewal date comes near.
RERA Certification Benefits for Real Estate Professionals
There are many advantages to having a RERA certificate for real estate agencies operating in Dubai.
However, here is the list of top RERA certification benefits :
- Increased incredibility and trust
The RERA certificate shows that your agency follows the rules set by the government. So RERA certification for real estate professionals is very important. That way you can build trust with clients and investors who are in need of a trusted real estate agency that can help them with their real estate needs.
- Competitive edge in the market
The competition has increased in Dubai’s real estate market. There are many agencies operating in Dubai that provide real estate services. However, clients prefer professionals or Real Estate License holders. The RERA certificate gives you recognition as a professional and makes you stand out in the competitive real estate market.
- Legal protection
Only those agencies are provided with the RERA certificate that follows the rules and regulations. So builds trust and makes sure all the transactions are transparent. It reduces the risk of fraud. If there are any disputes, RERA has a formal process to help resolve them.
- Access to exclusive listings
Having a RERA certificate can give you access to exclusive listings that unlicensed agencies can’t get. This is because many developers and landlords prefer working with RERA-certified agencies.
- Higher earning potential
Having a RERA certificate builds trust and credibility towards your professionalism. So you can charge higher fees. Clients don’t hesitate to pay more when they get the expertise and security of working with licensed professionals.
- Professional development
To obtain the RERA certificate you have to go through training programs and an examination. During the time of your learning, these programs help you gain knowledge about the real estate market, and that way your agency can provide better services to your clients. It leads to the professional development of your agency.
Cost of RERA license in Dubai
The cost of RERA license in Dubai includes:
- RERA registration exam
For exam registration, you need to pay the fee according to your educational qualification. The exam registration fee for bachelor holders is AED 3,200 and for those without a bachelor’s degree, the fee is AED 6,300. The free structure for applicants who have no educational qualifications is AED 15,750.
- RERA training certificate
To obtain the RERA training certificate, the fee is around AED 1,500
- License application fee
To apply for the RERA license, the fee is around AED 1,000
- Annual license fee
The cost for the fee is ongoing and can be changed annually based on your business activities. However, the basic fee per activity is AED 5,020 per annum.
In Dubai’s competitive real estate market, RERA certification Dubai is important for your real estate agency and can make a big difference Start Any Business help you to get RERA certificate in Dubai. It not only makes sure that you follow the law but also increases reliability. It builds trust in clients and you get access to more opportunities in the future.
Also Read: Dubai Health Authority License: Requirements and Process
