How to Be a Licensed Real Estate Consultant in Dubai

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How to Be a Licensed Real Estate Consultant in Dubai
Words: 539 | Date: Mon, 21 Jun 2010

In recent developments at the RERA, licenses are being issued to about twenty categories of real estate professionals including that for a real estate consultant in Dubai. Local, non-local, and expatriates are eligible to apply for and practice as a real estate consultant provided they fulfill the eligibility laid down by the RERA and obtain the relevant license.

The Practice of a Real Estate Consultant in Dubai

The practice of a real estate consultant in Dubai falls under Activity No. 741404 of the government and the license type is that for a professional. Real estate consultancy is defined as an activity that includes running offices that offer real estate consultancy for money. Such consultancy is recognized as relevant to data, information and prices of all types of real estates. The services of a real estate consultant is distinct from that of a registered broker and do not include facilitating contacts between parties or engaging directly in selling and buying procedures.

Eligibility Requirements for a Real Estate Consultant in Dubai

The following are the requirements that need to be met by UAE or GCC nationals in order to obtain the license of a real estate consultant:

Bachelor’s Degree in Business Administration, Real Estate, or Finance

Certificate of Real Estate practitioner course

Minimum 3 years experience in the real estate field

The following are the requirements for expatriates to obtain a license for practicing as a real estate consultant :

Bachelor’s Degree in Business Administration, Real Estate, or Finance

Certificate of Real Estate practitioner course

Minimum 5 years of experience in the real estate industry

Must be sponsored under this license

Eligibility Requirements for Branch of a Foreign Company

The eligibility requirements for the branch of a foreign company to obtain the license for a real estate consultant in Dubai are as follows:

Copy of the license or copy of commercial registration

Parent company must be in business for at least two years

Copy of the memorandum and/or article of association of the company

Authorization letter from parent company to open branch office in Dubai and to appoint branch manager

The branch manager must fulfill above mentioned conditions

Local services agent is required

The activity of the parent company must be similar to that of the branch

All documents should be notarized by the UAE Embassy overseas, Ministry of Foreign Affairs in Dubai and should be translated in to Arabic

So, even if you do not qualify to be a registered broker, it is still possible to practice as a real estate consultant in Dubai by fulfilling the requirements of the authority. It was without a doubt a grand display of where the property markets in Dubai and the Gulf are and to where they aim to go. The recent categorizations of real estate professionals by RERA and granting of licenses particular to the nature of the profession would help in strengthening the real estate industry and enable the influx of varied talent in the market.
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