By After the developments and changes by Real Estate Regulation Agency in Dubai licenses are being issued for around 20 categories of real estate companies and individuals including real estate consultant. Expats, local and non-locals are also eligible to apply for and practice for property consultant provided they fulfil eligibility criteria that is laid down by RERA and obtain relevant license.
Practice of real estate consultant under Act No.Real estate consultancy is a service which include running offices that offer real estate consultancy to earn service charges. Such consultancy is recognized relevant to the data, prices and other information related to properties. These services are distinct from that of the registered brokers and don’t include the facilitation contacts between buyers and sellers or meeting the needs and wants of both parties.
Eligibility Criteria for Real Estate Consultants in Dubai
To get the license of real estate consultant you need to provide or you must be;
- Graduation in Business or Finance
- Certificate of Real Estate Course
- 3 years or more experience in real estate field
Requirements for expatriates to get license to practice as real estate consultant
- Graduation in Business, Real Estate Management or Finance
- Certificate of Real Estate Course
- 5 years or more experience in real estate field
- Letter of Sponsorship under this license
Eligibility Criteria For Branch of Foreign Real Estate Consultancy Company
Eligibility Criteria for Branch of Foreign Real Estate Consultancy Company are as follows;
- Copy of license or commercial registration
- Parent company must be in real estate business for 2 years at least
- Copy of Memorandum and/or article of association of company
- Authority letter form parent firm to allow open branch office and appointment of branch manager
To become Branch manager of Branch office you must fulfill these conditions
- Local services agent needed
- Parent company must be involve in same activities that of the branch
- All copies and documents must be notarized by UAE overseas Embassy, Foreign Affairs in Dubai and must be translated in Arabic language
No matter if you are not qualify as a registered broker, you can still practice as a consultant by fulfilling requirements of authority i.e. RERA. Recent categorizations of real estate consultant and license in particular to this profession helped in growing real estate business in Dubai and enable the influx of diverse skills and talent in Dubai Market.
