Dubai’s real estate market is booming, and it creates an opportunity for investors, as well as, real estate professionals.
To step into Dubai’s real estate industry as an aspiring professional, understanding the Real Estate Regulatory Authority (RERA) is essential. You cannot work in Dubai’s real estate market without a certification from RERA, as well as, without complying with its guidelines.
In this post, you’ll learn about RERA, and you’ll discover how you can work as a real estate broker in Dubai. So, keep reading.
What is RERA?
RERA was established in 2007, and it works under the Dubai Land Department. In essence, RERA acts as a branch of Dubai’s Land Department that oversees all real estate activities in Dubai.
The RERA works for the following purposes.
- To create a conducive environment for all kinds of real estate projects
- To protect the interests of every kind of stakeholder, including the public, investors, etc
- To increase Dubai’s reputation as a world-class real estate destination
The Role of RERA
RERA is fulfilling several key responsibilities for the UAE government. The RERA body ensures that Dubai remains a healthy and attractive destination in the global real estate market. The following are the jobs of RERA.
Licensing
All real estate agents, developers, and brokers have to qualify through RERA before starting to operate in Dubai. RERA makes sure that only qualified professionals can work in Dubai’s real estate market.
Certifications of Developments
RERA issues certification to all new property developments after passing them through high standards. Without a RERA certification, no project can get started.
Monitoring Escrow Accounts
RERA examines and monitors escrow accounts. This way, RERA protects property buyers and safeguards their interests.
Legal Frameworks
RERA safeguards the interests of all stakeholders involved in real estate transactions by compelling them to use standard legal frameworks.
Why RERA is Important?
Here are the reasons for the importance of RERA.
- RERA protects the consumer. It ensures that every step of real estate sales remains transparent and does not violate the rights of investors and consumers.
- RERA ensures that every real estate transaction goes through standard contracts and procedures. So, there can be no disputes between parties.
- RERA oversees real estate activities and stabilizes the market by implementing laws and regulations.
- All disputes between real estate stakeholders are resolved by RERA through its mechanism.
- RERA regulates the market and maintains the confidence of investors in all cases.
How to Start Your Career as a Real Estate Agent in Dubai?
Here are the steps you need to take to start working as a real estate professional in Dubai.
Step 1: Get RERA Certification
Attend mandatory courses and pieces of training offered by RERA. Pass the RERA exam. Get certified.
Step 2: Join a Reputable Agency
Apply for a job role at a reputable real estate agency in Dubai. Get the agency’s training and ask them for support to boost your career.
Step 3: Invest in Continuous Professional Development
Make learning a lifelong habit. Follow market trends. Keep yourself updated on new legal developments in real estate.
Wrap Up
RERA is a legal body that ensures Dubai’s vibrancy, attractiveness, and trustworthiness. Every real estate project has to qualify RERA’s standards to be initiated.
If you want to work as a real estate professional in Dubai, you have to pass the RERA exam and go through its training.
Getting RERA’s certification is not easy as a professional. But you can do it if you work hard and put in some struggle. Have a great day.
