Dubai-Agencies
The total value of commissions received by individual and corporate real estate brokers in Dubai amounted to about AED 1 billion last year, according to real estate transactions of brokers registered with the Real Estate Regulatory Agency (RERA), the regulatory arm of the Dubai Land Department (DLD), which charges a fee for successfully concluding the transaction at 1% of the transaction value unless otherwise agreed between the parties.
In this regard, Yousef Al Hashimi, Senior Director of the Real Estate Licensing Department at DLD, said that these commissions are the total result of various real estate transactions, including the sale and purchase of various real estate units between residential apartments, hotels and commercial offices in freehold areas between sale, lease sale and deferred sale with a total value of 55 billion dirhams.

The register of real estate brokers in the Emirate of Dubai prevents the broker from mediating in the sale, purchase or marketing of real estate that is not registered with the department, along with clauses that protect his rights and the rights of other parties, which increases the real estate market transparency and competitiveness. The name of the real estate office and the broker in the mediation process is entered through the sale procedure in the DLD system to preserve the rights of brokers and facilitate the preparation of reports on real estate offices and their activity. He pointed out that DLD and RERA did not stop at the limits of the effective implementation of the provisions of these regulations, but worked hard to formulate qualitative initiatives and apply a number of best international real estate practices to increase the professionalism of the real estate brokerage profession in Dubai.