Dubai is a thriving metropolis that draws visitors from all over the world, and its real estate market is flourishing. Nonetheless, a RERA certificate is required to start a real estate agency in Dubai. RERA (Real Estate Regulatory Agency) is the name of the agency in charge of regulating the real estate market in Dubai . We’ll go through the advantages of having a RERA License in Dubai real estate firm in this blog post, along with how to get one and how much it will cost.
Benefits of RERA Certificate for Dubai Real Estate Agency
The following are the various benefits of obtaining RERA Certificate in Dubai:
Legitimacy
Your real estate agency will get credibility with a RERA certificate, which validates you to set up business in the Dubai real estate industry. Potential clients who are searching for a dependable firm to deal with become more trusting as a result.
Compliance
RERA laws aim to safeguard the interests of buyers, sellers, and tenants in the Dubai real estate market. However, your firm may establish a reputation for professionalism and dependability by acquiring a RERA certificate, which demonstrates your organization’s dedication to abiding by these rules.
Access to Services
The Dubai Land Department’s services, including property registration, title transfer, and other crucial services linked to real estate transactions, are only accessible to organizations possessing a RERA certificate. As a result, your organization has an edge over others without a certificate.
Better Marketing Opportunities
A RERA certificate allows real estate agencies to hold a position on the RERA website, giving your business exposure and visibility to potential clients looking for a reputable real estate firm in Dubai.
However, this can help your business become more well-known and draw in more clients.
How to Get a RERA License in Dubai?
To become a real estate agent, you have to obtain a RERA license in Dubai. You need to follow these steps:
1. Apply for a Residency Visa
Prior to applying for a RERA License in Dubai, you must hold a Dubai resident visa. Either starting a business in Dubai or working for a local employer are two ways to get a residence visa. If you get a resident visa, you can move on to the following phase.
2. Application Process
To apply for a RERA license, you will need to submit an application to the Dubai Land Department. The application will require you to provide details about your personal and professional background, as well as any relevant qualifications or experience. You will also need to provide a passport-sized photograph, a copy of your passport, and a copy of your residency visa.
3. Register for the RERA Exam and DREI Certification Training
You must finish the Dubai Real Estate Institute (DREI) accredited training programme and pass the RERA test in order to qualify for a RERA License in Dubai. The training curriculum covers a wide range of estate-related topics, such as rules and regulations, market analysis, and valuation methods. You must take the RERA exam in Dubai to prove your knowledge and comprehension of the subject matter after completing the training course.
4. Get Your Realtor License and Obtain Approval
You can also apply for your RERA License Dubai after completing the DREI-certified course and passing the RERA test. One must provide evidence of passing the RERA exam, the training course, and any further necessary credentials in order to get your License. You will receive your RERA License when the Dubai Land Department has examined and accepted your application.
As a result, obtaining a RERA License in Dubai entails a number of steps, such as obtaining a resident permit, completing the application process, enrolling in DREI-accredited training, passing the RERA test, and receiving your realtor license and approval. Hence, you may get your RERA License in Dubai by following these instructions, making you qualified to work as a registered estate agent or broker in Dubai.
RERA License Cost in Dubai
A RERA License Cost in Dubai varies depending on the region and type of business. According on educational background, the cost of the RERA registration exam varies. For individuals with bachelor’s degrees, exam fees are AED 3,200; for those without, they are AED 6,300. Also, the fee for those without a degree is AED 15,750. Additionally, RERA charges a fee of AED 5,020 per activity.
The processing of licenses can begin after obtaining a RERA training certificate. Additionally, an LLC must pay about AED 12,950 for a real estate brokerage license.
However, the starting cost for RERA certificate in Dubai is AED 21,000, on average.
Depending on the type of activity you are engaging in, the cost of filing for a RERA license may vary. Other real estate-related activities, nevertheless, have larger yearly costs.
Following are the Real estate-related activities:
- Real estate mortgage consultancy
- Real estate consultancy
- Self-owned property leasing and management services
- Real estate buying & selling brokerage.
- Real estate leasing brokerage
- Buying and selling real estate
- Real estate public auction organizing
- Real estate management supervision services
- Property inspection services
- Real estate survey services
- Mortgage broker
- Real estate services trustee
- Real estate representative office
- Service center (Real Estate)
- Real estate promotion trustee
The following real estate-related activities have an annual fee:
- Real estate exhibition organizing
- Owner association management services
- Real estate valuation profession licensing
Documents Needed to Get A RERA License
The following paperwork must be gathered in order to submit an application for a RERA License in Dubai:
- A copy of your passport, your residence visa, or your Emirates ID card
- passport-size photographs
- Evidence that you passed the RERA certification test and your RERA training
- A copy of your realtor license
- The Dubai police may require that you receive a certificate of good behavior.
- If you are based in a free zone, you will need the NOC from the free zone authorities.
- You could require a memorandum of agreement signed by all shareholders depending on the sort of business you establish.
- Lastly, a copy of trade name reservation
Responsibilities Under RERA In Dubai
In Dubai, RERA has a broad variety of duties that fall under its purview. Following are the obligations:
- Granting Licenses to all companies and organizations involved in the real estate industry
- Real estate brokers must be licensed.
- Control of leases, advertisements, and real estate displays
- Creating research and reports on the industry
- Fostering the real estate industry
- Lastly, educating companies and ordinary citizens about regulatory changes affecting the real estate industry.
Conclusion
For a real estate agency, getting a RERA License in Dubai may have a lot of advantages. In addition to ensuring that local laws and regulations are obeyed, it also raises the agency’s profile and reputation in the industry. A RERA-certified startup is seen as being more dependable and trustworthy, which can increase customer satisfaction and open up new business opportunities.
The certification can also be an effective tool for the agency in recruiting and keeping top staff. Real estate agents in Dubai may position themselves for long-term success in a cutthroat market by investing in RERA certification. Moreover, for any assistance related to company formation in Dubai, Contact us by phone at +971 4 4081900 or via WhatsApp at +971 50 7775554. Instead, you can visit www.shuraa.com and send us an email at [email protected].
