To become a real estate agent in Dubai, or if you want to start your agency, you should first know how to obtain a real estate license in Dubai. You must first obtain a real estate license issued by the Dubai Real Estate Regulatory Authority (RERA). This requires completing the necessary education and training courses, passing an exam, and meeting certain requirements such as being at least 21 years old and having a good character standing. Once licensed, you can work with a real estate brokerage firm or start your real estate agency in Dubai.
Several individuals in the UAE want to step into this area of employment and become a real estate agent, although, the question arises – how to become a real estate agent in Dubai in 2024? Do not worry, we have got you covered – from how to register for a RERA license to how much it costs to get a real estate license.
What is RERA in Dubai?
One of the most challenging yet rewarding business markets in Dubai is the real estate market. RERA, or the Real Estate Regulatory Agency, is an important organization in Dubai that oversees and regulates the real estate industry. However, it is responsible for ensuring that real estate agents and brokers in Dubai operate with transparency and follow the legal requirements and guidelines set by the agency.
To become a real estate agent or broker in Dubai, individuals need to obtain a real estate brokerage license from RERA. This license allows them to legally practice real estate and offer their property services to clients in Dubai. It is essential for anyone aspiring to work in the real estate sector in Dubai to obtain a real estate license from RERA.
How to get real estate license in Dubai, UAE?
To obtain a real estate license in Dubai, UAE, you need to follow these steps to get real estate license in Dubai:
1. Initial approval
Obtain immigration and security clearance before starting the process, typically processed within 1 hour to 1 day.
2. Trade name registration
Select your company’s name in English, incurring an additional cost of 2000 dhs. If the name includes an abbreviation, the fee is 3000 dhs. This registration requires annual renewal.
3. Office tenancy contract preparation
Physical office space is mandatory; business center offices are not permitted.
4. Submit the documents to DED and obtain the voucher
Submit the required documents to the Department of Economic Development (DED) and receive a voucher. This process is contingent on the specific RERA activity, incurring fees ranging from 15000 to 25000 dhs, along with additional RERA charges.
5. Get the establishment card
Obtain the establishment card, a crucial document for business operations.
6. RERA certification
Secure the RERA certificate, signifying compliance with regulatory standards in the respective industry. This certification is essential for business operations within the region.
Documents required to get a RERA license
The document required to obtain a real estate license in Dubai include:
- Provide a copy of your residency visa or Emirates ID.
- Submit passport-size photographs.
- Present proof of completing the DREI-certified training and passing the RERA exam.
- Certificate of good conduct from Dubai police.
- Include bachelor’s or master’s degree certificates if available.
Following these steps accurately and ensuring all required documents are submitted will facilitate the process of obtaining a RERA license for real estate activities in Dubai.
Why to become a real estate agent in Dubai?
Becoming a real estate agent in Dubai can be a rewarding career choice for several reasons. Some of them are mentioned below.
- Firstly, Dubai’s real estate market is constantly growing and evolving, providing tons of opportunities for agents to make sales and earn commissions.
- Additionally, with the city’s booming economy and international reputation, agents have the chance to work with a diverse clientele and participate in high-value transactions.
- Finally, Dubai’s luxurious property offerings and unique architectural projects make it an exciting and dynamic market to be a part of.
Benefits of becoming a real estate agent in Dubai
Becoming a real estate agent in Dubai can bring numerous benefits. With the booming real estate market in the city, agents have the opportunity to make a handsome income. Additionally, working in the real estate industry allows individuals to develop a wide range of skills, such as negotiation, marketing, and customer service. There is also potential for growth and advancement within the field of real estate. Furthermore, Dubai’s diverse and constantly evolving property market provides real estate agents with the chance to work on exciting and unique projects.
Cost of setting up a real estate brokerage in Dubai
Establishing a real estate brokerage in Dubai entails specific expenses. RERA mandates an approximate AED 5,020 per activity to AED 25,000 for multiple activities, alongside a requisite RERA training certificate. Additionally, for an LLC, licensing costs amount to roughly AED 13000 to 15000. Consequently, the initial investment for launching a real estate business setup in Dubai generally commences at around AED 30,000.
How to renew real estate license in Dubai?
To renew your real estate agent license in Dubai, you need to follow a specific procedure.
- You should visit the Dubai Land Department (DLD) and apply for license renewal. You must include all required documents, such as a valid passport copy, a recent passport-sized photograph, and the renewal fee.
- Next, the DLD will review your application and conduct a background check. Once approved, you will receive a renewal certificate, which you need to display in your office.
It is essential to renew your license before the expiration date to avoid any penalties or suspension of your activities as a real estate agent in Dubai.
Broker’s license renewal with us!
The broker’s license renewal process in Dubai is an essential step for brokers to maintain their licenses and continue practicing in their field. It involves completing the requirements and submitting the required documents to the relevant licensing authority. Typically, brokers in Dubai need to complete a certain number of continuing education hours, provide proof of errors and omissions insurance, and pay a renewal fee.
Brokers need to stay up to date with the renewal process to avoid any disruptions in their ability to practice and to ensure that they are complying with the regulations set by their licensing authority. You can also contact us or visit us at www.emiratesbusinesssetup.com.
Renewing your real estate agent license in Dubai involves submitting an application through the Dubai Land Department (DLD) website. The process includes providing necessary documents, paying the required fees, and completing any required training or exams.
To renew your Real Estate Agent License in Dubai, gather required documents:
*Complete any mandatory training courses specified by RERA.
*Visit RERA’s online portal, log in or register, and select “License Renewal.”
Submit documents, pay the renewal fee, and await confirmation of your renewed license.
Working in real estate in Dubai offers numerous opportunities for growth and success. With its booming economy and constant development, there is a high demand for properties and an ever-growing market.
Starting your real estate company in the Meydan Free Zone provides numerous benefits such as 100% foreign ownership, zero personal or low corporate tax, and state-of-the-art infrastructure.