Increased buyer protection through RERA
The Dubai Government’s move to establish the Real Estate Regulatory Authority (RERA) in 2007 has seen the implementation of a number of new industry rules and regulations including a general progress in regulating the parties involved in real estate transactions. All of this should help to provide buyers and sellers with transparency and additional peace of mind.
In making the market here a more regulated one, RERA is helping put Dubai on a more equal footing with more established international markets such as the UK and US.
In February 2007, RERA implemented a registration process for all real estate agencies and agents, and in February of this year, a comprehensive training programme that included a broker’s code of conduct and real estate law for sales people was introduced.
Attending the course provides consultants with RERA certification which is a great benchmark for buyers to use when trying to find a real estate agent to work with. All certified agents will carry a RERA card with their RERA number on and so as a potential client, it’s always worth asking any agent you meet for their RERA card.
At this point, 90% of all Better Homes sales consultants have been through RERA training, with the remainder scheduled to attend shortly. Additionally, in a bid to reinforce the work that RERA has started, Better Homes has adapted its consultant training syllabus to cover the code of conduct and real estate laws.
Date posted: August 3rd, 2008
Posted by: betterhomes
Category: Residential / Hot Topics, Residential
Tags: Better Homes residential, Dubai government, Real Estate Regulatory Authority, RERA
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