The General Real Estate Authority announced that the “Standards for Licensing and Classifying Online Real Estate Platforms” and the “Regulations Governing Real Estate Advertisements” have entered into force and are effective as of today. These measures aim to curb fraudulent advertisements related to the real estate sector, thereby enhancing its reliability and raising the credibility of licensed online real estate platforms.
The Standards for Licensing and Classifying Online Real Estate Platforms and the Regulations on Real Estate Advertising will contribute to the governance of real estate entities“ activities, increase the reliability of transactions with them, protect the rights of customers, and enhance the quality of services provided in the real estate sector, in accordance with the regulations governing online real estate marketing.
The Authority emphasized the importance of complying with real estate advertising regulations, which require that the advertiser be a Saudi national, or a legal entity licensed to operate in the Kingdom, and that the advertiser must be the property owner or an authorized representative, with the advertiser’s ID number and the authorization issued by the Authority included in real estate advertisements.
It is worth noting that the Authority launched the ”Aqari” electronic services to provide real estate establishment registration, real estate platform licensing, real estate advertiser services, individual licensing, and other services such as: inquiries about classified real estate establishments or real estate advertisers, or filing objections to non-compliant advertisements through the Authority’s website, Real estate platforms and individuals wishing to engage in real estate advertising can apply for a license through the online platform https://eservices.rega.gov.sa/, and they can also obtain the license electronically through the platform.
The General Real Estate Authority has held 35 workshops with online real estate platforms, during which it detailed the procedures for obtaining the Authority’s license for online real estate platforms.
It should be noted that these regulations are part of the General Real Estate Authority’s role in regulating real estate activity, protecting the rights of those involved in the sector, strengthening the sector’s governance and operational efficiency, sustainability, and increasing its transparency and service to its partners, in accordance with the comprehensive strategic plan for the real estate sector; so that the real estate sector in the Kingdom is vibrant and attractive, and characterized by trust and innovation.
