One of the things that those tallest buildings in the world and those uniquely designed homes and commercial buildings do is attract a lot of attention. People wonder how they can be built and they also wonder how they are sold.
Like any other country in the world, Dubai has rules governing you can represent and sell those buildings, homes, and apartments, etc. Because Dubai and the UAE have hot real estate markets right now, there is a lot of money to be made if you can get your RERA real estate license.
Keep reading to find out how you can change careers and become a real estate broker or agent in Dubai by obtaining your RERA real estate license.
Before you start the application process, you need some special personality characteristics to help you succeed not only as a broker but also succeed in passing the qualification process.
Three of those characteristics are having good communication and interpersonal skills, being dedicated to your new career, and finally, having a great work ethic. There is a lot of hard work involved due to the competitive nature of the real estate industry in Dubai.
Plus, you have to have a RERA license. The good news is you do not have to be a UAE or Dubai national to get one of these licenses. The process to obtain this license is not long but it does take the ability to pass an examination and have your paperwork in order.
If you are 100% sure you want to be a real estate broker in Dubai, then you should do well in all steps of the process. One thing is certain, you will need to be familiar with the customs of the city and all the laws governing real estate transactions in this area.
This is a legitimate government body that has been in existence for 16 years now. It was created in 2007 by his Highness Sheikh Mohammed Bin Rashid Al Maktoum, the Ruler of Dubai.
The purpose of RERA is to regulate tenancy contracts and accounts of real estate developers, supervise property advertisements in mass media, and license activities related to property deals in Dubai, real estate exhibitions, and real estate agents.
One of its main services is to make sure all those who want to become a real estate agent in Dubai get a fair chance to pass the process and issue the license. RERA monitors just about everything real estate related.
There are many steps in the process of getting your RERA license. Unfortunately, each step has its own costs which may differ due to the school or agency conducting the process step.
For example, you need to get your residency visa first. The cost of this visa depends on which one you are going for. There is a variety of residence visas and they all have different fees and requirements.
To get your Dubai Real Estate Institute (DREI) training the cost for this will depend on the school you attend and if it is in-person or online training. It is a 4-day course providing you with all the information about the real estate market in Dubai, its practices, and laws.
The cost for this training is roughly 3000 AED. The next fee you will have to pay will be the RERA exam fee. This fee amount depends on what degree you hold in a related field. If you have a degree it may cost you only 3200 AED and if you do not, then look forward to paying 6300 AED.
Once you get the license it is valid for one year and to renew you must pass the exam again with an 85% score and pay 510 AED. There will be other related costs as you progress in your real estate career.
Your real estate license fees are just the start.
The first step would be to register with the Dubai Land Department. Then you need to submit the required documents which include a high school diploma, Emirate I.D., passport, and passport photos.
Finally, you pay the exam fees and take the exam. The passing grade is around 85% so make sure you study hard. Once you pass the test, you will need to submit a certificate of good conduct to RERA to get your license.
The documents needed are as follows:
The steps to getting your brokerâ€™s license in this city are as follows:
The process sounds worse than it really is. But once you have all the appropriate documents required the process is quite simple. The fee for getting this license ranges between 15,000 and 25,000 AED approx. Fees can change.
If you are interested in obtaining your real estate agent's or broker's license in Dubai, give our agency a call. We have over 10 years of real estate experience in London and Dubai.
Many of our agents have already gone through this process and are ready to help you obtain yours. Our agents will be glad to guide you through the process and make sure you know what is required each step of the way.
Call us today so we can help you make your Dubai dream come true.
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