RERA Regulations & Broker Licensing Flashcards

What is RERA and under which authority does it operate?

Answer: Real Estate Regulatory Agency — the regulatory arm of the Dubai Land Department

RERA (Real Estate Regulatory Agency) was established in 2007 as a regulatory arm of the Dubai Land Department. It is responsible for regulating the real estate sector including brokers, developers, owners associations, and off-plan projects in Dubai.

What qualification must a real estate broker complete to obtain a RERA license in Dubai?

Answer: The Certified Training for Real Estate Brokers (TRERA) course and pass the RERA exam

To obtain a RERA broker license, candidates must complete the Certified Training for Real Estate Brokers (commonly known as TRERA course), pass the RERA examination, hold a valid Dubai residency, and work under a DLD-registered real estate brokerage company.

How often must a RERA real estate broker license be renewed in Dubai?

Answer: Annually (every year)

RERA broker licenses must be renewed annually. Renewal requires completing continuing education (CPD), ensuring the brokerage company license is active, and paying renewal fees. Operating with an expired license is illegal and subject to penalties.

What information must be displayed on all real estate advertisements in Dubai according to RERA rules?

Answer: RERA permit number, broker's name and license number, property details, and accurate pricing

RERA requires all real estate advertisements (online, print, outdoor) to display: RERA advertising permit number, broker/agent license number, property address, accurate price, and truthful property details. Misleading advertisements are an offense under RERA regulations.

A real estate broker receives a commission from both the buyer and seller in the same transaction without disclosing this to both parties. What is this called?

Answer: Dual agency without disclosure — a violation of RERA ethical standards

Receiving commission from both parties without full informed disclosure to both is a conflict of interest and violates RERA's code of conduct for brokers. Dual agency must be disclosed in writing to both parties, who must consent. Undisclosed dual commission is grounds for license revocation.

What is the standard real estate broker commission in Dubai for a residential property sale?

Answer: 2% of the transaction value (customary market practice)

The standard broker commission in Dubai for residential sales is 2% of the transaction value, typically paid by the buyer (or split between buyer and seller by agreement). RERA does not mandate a fixed commission rate but 2% is the established market practice. Commercial and luxury deals may vary.