04 December 2016
By Manoj Nair, Associate Editor
Dubai: Properties can be marketed and sold in Dubai only if there is a prior written agreement where the property’s owner authorises estate agents to carry out the marketing process.
This is as per new directives issued by the Dubai Land Department, and in line with earlier moves aimed at creating a more transparent transactional marketplace in the emirate.
Once the written agreement is in place, permits will be issued through the Real Estate Regulatory Agency’s e-service system. It will also apply to advertisements being placed to sell a property or project in Dubai.
All “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,” said the statement.
“The property owner is required to sign Form A to authorise brokerage offices to market any properties, in order for any broker to obtain permission from Dubai Land Department 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.”
According to Ali Abdullah Al Ali, Director of the Real Estate Licensing Department at the government entity, “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.”
Recently, the Land Department authorised that marketing of all overseas properties too should have prior clearances before they can be showcased in Dubai. This applies to any marketing exposure across all advertising platforms.
© Gulf News 2016