During the month of October, the General Authority for Real Estate , in cooperation with relevant government agencies, conducted (39) joint inspection tours, which included visiting (430) real estate establishments in a number of regions of the Kingdom, with the aim of ensuring compliance with real estate legislation in general, and the real estate brokerage system in particular, in addition to matters related to the competencies of the participating government agencies.
A number of violations were detected
The Authority explained that field work is one of the paths it is working on to regulate the real estate market, as its supervisory teams carried out (15,554) field supervisory audits on billboards and real estate offices during the same period, which resulted in monitoring a number of violations, which were represented in practicing real estate brokerage activity or real estate services without obtaining a valid license, not taking the necessary care to verify the accuracy of the information obtained from the property owner or the owner of the benefit, and not stating the name of the licensee or the license number in advertisements related to the property.
The Authority also received (1,366) real estate reports through its various channels, which were dealt with and processed, while the number of electronic surveys amounted to more than (32,627) operations, as the Authority pursues electronic monitoring that targets digital channels and real estate platforms to verify the regularity of advertisements and digital real estate brokerage practices in accordance with regulations and bylaws.
The General Authority for Real Estate called on brokers and real estate service providers to comply with the rules and regulations of the Real Estate Brokerage System and its regulations, and to be aware of violations in order to avoid penalties that include warnings, suspension or cancellation of the license, or financial fines of up to (200) thousand riyals. It also called on citizens and residents to submit their reports in case of suspicion of real estate violations or real estate fraud, through the response to reports channel through the Authority’s official platform, or by calling the number (199011) for real estate inquiries.
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