Taysir Al-Mufarraj, the official spokesperson for the General Real Estate Authority, confirmed that real estate brokerage license under the new system requires five courses, three of which are mandatory and two are optional. The mandatory courses include: the Real Estate Brokerage Course, the Real Estate Marketing Course, and the Course on Combating Fraud and Money Laundering in the Real Estate Sector. He noted that no new requirements will be imposed on current real estate brokers when renewing their licenses, explaining that the new updates will apply to first-time applicants for a real estate brokerage license, effective September 1.
He noted that obtaining the license requires passing an in-person exam prepared by the Saudi Real Estate Institute and administered at testing centers across the Kingdom for new real estate brokers, with the aim of verifying applicants" identities and curbing irregular practices. He also noted that the financial solvency training program offered by the Saudi Real Estate Institute enables real estate brokers to collaborate with financial institutions, thereby providing them with an additional source of income.
Al-Mufarraj explained, during his participation yesterday in the "Real Estate Professionals" Monday Forum» on the «X» platform, that the "Foundational Level" as a mandatory track for obtaining a real estate brokerage license for the first time, effective September 1, noting that the track includes only three training programs, with optional training programs also available.
He noted a reduction in certification fees for new real estate brokers compared to the previous track, pointing out that all training programs within the Foundational Level are offered remotely, while the certification period has been reduced to 8 days, Al-Mufarraj confirmed that the Diploma in Real Estate Regulations and Legislation will be opened to all specializations in the future, while the first semester will be dedicated exclusively to Sharia and law specializations, with the diploma becoming available to all specializations at a later date.
He noted that the Authority treats current real estate brokers as partners in success, noting that their commitment to regulations has contributed to the development of the real estate sector in the Kingdom, and that the Authority does not target them with any updates or improvements in the area of training and development.
