Real Estate - The real estate broker is the link between the seller and the buyer. This broker must be professional in his work, both in negotiating between the two parties and in knowing the conditions of the real estate market, especially with the diversity and multiplicity of real estate transactions. The broker must be familiar with the real estate regulations in place so that the sale is carried out in a sound manner that preserves the rights of the seller and the buyer.
The state – may God support it – established the Real Estate Institute to graduate elites of the nation’s sons to work in the real estate market, which results in the availability of job opportunities because real estate (is considered the largest non-oil economic sector in the Kingdom). These graduates work in real estate offices under the umbrella of the Real Estate Authority, which results in regulating the real estate market.
It is worth noting the significant role played by the Ministry of Housing through its programs and its coordination with the Real Estate Authority.
I attended a meeting at the Al-Ahsa Chamber of Commerce several years ago, where the Governor of the Real Estate Authority spoke about real estate indicators and the classification of real estate offices. Through my experience, it became clear to us, through the (Ejar) system, which did not exist before, its impact on preserving the rights of the landlord and tenant through the executive deed…
By possessing these real estate courses, the real estate broker will gain significant trust under the umbrella of an official institution and the supervision of the real estate authority, leading to greater productivity and more clients…
The discussion will continue in the next issue, God willing.
