Dubai Land Department (DLD) is now requiring real estate agents to sign a written agreement in order to market any property. The said contract has to be signed by the property owner and the real estate broker and should allow the latter to market the property, online or in print media. The marketing agreement will result in the issuance of permits through Trakheesi, which is the e-service system of DLD.
DLD has also announced that they will regulate the process of advertisements within a specific agreement that defines the role of each party involved in any real estate sales or rent with total precision, which will guarantee the rights of all parties, including landlords, investors and brokers. The property owner is allowed to deal exclusively or with more than one real estate broker for the marketing of his/her property.
Ali Abdullah Al Ali, Director of the real estate licensing department of DLD, said that the aim of these new regulations is “to enhance the growth of our real estate industry in order to further develop the local economy”.