Assisting people to find their dream homes is something really great. It requires some hard efforts to close deals but when it happens it brings good profitability. In this article, we are talking about the Business Activity Description, requirements and restrictions set by the Department of Economic Development as well as Real Estate Regulatory Authority in order to get the Real Estate Property Brokerage license registered.
Real Estate buying & selling Brokerage
Activity Group: Real Estate
Business Activity Description: Includes firms dealing with buying and selling of property acting as brokers between the owners and buyers. The role ends with the signing of the contract and upon receipt of agreed commission.
Allows applying to provide brokerage services for the sale of real property. The service is available to companies that act as liaison between landlords and buyers. These companies provide their services in return for commissions, and their role ends upon execution of the relevant agreements.
The Process normally starts with the Department of Economic Development (DED) as the initial major stop for all Mainland Business Activities in the United Arab Emirates, meanwhile, process get diverted to the Real Estate Regulatory Authority to comply with their requirements and obtain approvals.
Parties to the license and requirements:
(UAE Nationals/ GCC Citizens)
1- Corporate entities may not enter as parties to the license
2- A party may not be aged less than 21 years
3- All parties must take a real estate qualification course (holders of university degrees) or a real estate diploma course (non-holders of university degrees)
4- In case of a non-UAE national manager, his residence permit must be sponsored by the firm
5- Certificate of Good Conduct issued by Dubai Police General Headquarters
Upon issuing the license and before conducting the activity, the firm must be registered with the Real Estate Brokers Register and Real Estate Broker Cards must be issued to the license holder, manager, and sales personnel through the Land Department website (www.dubailand.gov.ae) – Electronic Services (Tarakheesi System). No person may apply for more than one real estate brokerage license.
If you are a broker in real estate, know that working with sales requires a little bit of dynamism, creativity, and friendliness. Selling a house requires a lot of efforts and therefore, it needs to have a good dynamics of speech to talk to the clients. The industry professional, called a broker, needs to understand that the product he/she markets is not cheap and means an investment for the future. Therefore, the buyer needs to be sure of what he/she is buying. The sale may take a while, but you need to get in touch, be attentive to your customer to get the business done and win the customer, which will probably point you to future sales.