The the General Real Estate Authority, in collaboration with relevant government agencies, conducted 28 joint inspection tours last January, visiting 304 real estate facilities in various regions of the Kingdom.
Compliance with Real Estate Legislation
These inspections aim to ensure compliance with real estate legislation in general and the Real Estate Brokerage Regulation in particular, as well as matters falling within the jurisdiction of the participating government agencies.
The Authority clarified that fieldwork is one of the avenues it is pursuing to regulate the real estate market, with its inspection teams conducting 10,222 on-site inspections of billboards and real estate offices during the same period, which resulted in the detection of a number of violations, including engaging in real estate brokerage or real estate services without a valid license, failing to exercise due diligence in verifying the accuracy of information obtained from the property owner or beneficial owner, and failure to state the licensee’s name or license number in property-related advertisements. The Authority also received 1,590 real estate-related reports through its various channels, all of which were addressed and resolved, while the number of electronic inspections exceeded 20,647. The Authority conducts electronic monitoring targeting digital channels and real estate platforms to verify the compliance of advertisements and digital real estate brokerage practices with applicable laws and regulations.
Compliance with Rules and Regulations
The General Real Estate Authority called on all real estate brokers and service providers to comply with the rules and regulations of the Real Estate Brokerage System, and to familiarize themselves with the violations to avoid penalties, which include warnings, suspension or revocation of licenses, or fines of up to 200,000 riyals, The Authority also called on citizens and residents to file reports in the event of suspected real estate violations or fraud through the reporting channel on the Authority’s official platform or by calling (199011) for real estate inquiries.
