RERA, the Dubaiâ€™s Real Estate Regulatory Agency, once again is taking stern action to control the activities of freelance brokers and agents, as their activities are â€œillegalâ€.
â€œWe do not recognise a separate category of freelance broker/agent. The activities of such freelance operators are strictly illegal. Rera has taken concerted steps with the Ministries of Labour and Immigration to seek to bring to a halt the activities of such freelance operatives,â€ Rera said in an email statement to emirates Business 24/7.
The activities of freelancers are subject to the sanctions provided by the regulations and through the courts, Rera said. Over the past three to four years the agencyÂ introduced introduced andÂ implemented laws toÂ put a stop to freelance brokers that have been severely tarnishing the reputation of the real estate industry. The Dubai government makes it very clear that all people who choose to work in the real estate market must be registered and have government approval to conduct property transactions.
Rera has established specific guidelines regarding broker credentials in order to ensue that property transactions are handled by trained professionals. The agency is very specific that property transactions can only be executed by certified agents working for certified agencies and freelancers are not allowed to work as property agents. We are happy that these rules are being implemented because it ensures that as the market matures, professionalism becomes the norm rather than the exception.
Real estate agencies, registered with RERA, also are no longer associating themselves with freelancers, who acted as conduit between the developer and the buyer, taking a small commission for this work.