How To Renew A Real Estate License In Dubai?

Many people are eager to join the city’s real estate market because of the beautiful skyline, impressive engineering feats, and cutting-edge constructions. A career as a real estate agent in Dubai could be perfect fit for you if you have strong communication skill and enjoy the adrenaline to close deal.

It’s a good decision to become a professional  real estate agent in Dubai. This is because you will be working with one of the most expensive assets in the Emirates; property. If you have the right negotiation skills, you will be able to build a strong reputation in real estate Dubai. This can benefit you earning a good amount of commission, and extra revenue.

How to renew your real estate Dubai license

You must retake the RERA agent registration exam and receive a passing grade of at least 85% in order to renew your license. After passing the exam, you can finish the online renewal process.

Keep in mind that if you don’t submit your application for renewal by the deadline, your license can be revoke and you’ll have to start the training process over.

The following documents are need for the renewal process:

• a copy of a current passport and a residency permit
• Personal photo
• a qualification certificate

The cost to renew a real estate Dubai agent license is AED 510.

How to become a real estate agent in Dubai?

• Get a Residency Visa

Getting a residency permit is the first step in Dubai in order to become a real estate broker. The licensing process is easily accessible to nationals of the UAE and the GCC. However, in order to qualify for a position as a realtor in Dubai, expats must have a current residency visa. Either your employer will sponsor a work visa for you to work in Dubai, or your spouse who is employe there will sponsor a residency visa for you. Your Emirates ID is also require. We also offer a thorough guide on how to apply for an Emirates ID if you are a new resident of the nation.

• Sign-up for DREI Certified Training

The next step to becoming a real estate agent in Dubai is to enroll in the training at the Dubai Real Estate Institute once you obtain the visa (DREI). The four-day course, known as the Certified Training for Real Estate Brokers, seeks to provide you with the necessary understanding of the local real estate market.

The Real Estate Regulatory Agency (RERA), the regulatory branch of the Dubai Land Department, has approved the programme (DLD).

The responsibilities of these governmental entities will be covered in more detail in the certification course. The following are some of the topics covered by the DREI training for real estate agents in Dubai:

• History and Development
• The Business of a Broker
• Concepts, Definitions and Market Players
• Sales Processes and Agreements
• Leasing Process and Rental Agreements 
• Code of Ethics
• Introduction to Owner’s Associations
• Legal Module
• Essential Skills

• Take the RERA Exam
  

You must take a written RERA registration exam after completing the four-day programme. The exam price is AED 3,200 for those with a bachelor’s degree and AED 6,300 for those without a bachelor’s degree. If you have thoroughly studied the material in the certification course, the test should be simple.

This implies that you can obtain a real estate broker’s license without having a bachelor’s degree. However, having a degree in a discipline that is related to your field (like business or economics) will undoubtedly benefit your professional growth  in the long run.

• Get your Realtor License

After passing the test, you will be on your path to obtaining a realtor license so that you can practice real estate in Dubai. The acquisition of a certificate of good conduct is an extra prerequisite for broker license.

Your broker license and card will be issue by the Economic Department once you have satisfie these conditions. After you have submitted all the necessary paperwork, you will receive your credentials within one or two days.

To avoid facing consequences from the granting authority, you must renew your license one month prior to its expiration date.

The Bottom Line

Becoming one of the most prosperous and reputable real estate agencies in Dubai is not an easy task. It’s a highly competitive industry so one has to be prepar to consistently work hard, engage with customers and  become adept at anticipating their needs.

Some real estate agencies in Dubai employ realtors as independent contractors who are paid only on commission, while others offer a basic salary plus commission. However, even in this scenario, commissions typically make up the majority of the agent’s income.

Do you have questions about becoming a real estate agent in Dubai? The fundamental steps to become a real estate agent in Dubai begin with the training modules, despite the fact that the process has several layers and that successful agents must spend years developing a solid portfolio of potential tenants and buyers.