Sunset: Sulaiman Al-Hassoun- The real estate community is waiting for the launch and implementation of the real estate brokerage system in January, and the General Authority for Real Estate 27 articles to regulate and organize the sector and reduce the distortions that appear from time to time in real estate operations.

Amlak real estate newspaper conducted a survey on the impact of the implementation of brokerage on the sector and the completion of deals.

Real estate newspaper Amlak conducted a survey on the impact of implementing brokerage on the sector and the completion of deals.

Mutaib Al-Qahtani: Brokerage contract prevents misunderstandings

First of all, Mitab Al-Qahtani said that many dealers in the real estate market are waiting for the implementation of the real estate brokerage system on the ground; especially since it has started regulations and laws necessary to create an attractive, successful and effective real estate market environment that preserves the rights of all parties from brokers, agents, owners and buyers.

Regulations and laws necessary to create an attractive, successful and effective real estate market environment that preserves the rights of all parties from brokers and agents, owners and buyers. Al-Qahtani stressed that one of the most important gains of implementing the new brokerage system is preserving the broker's right to seek and determine the percentage of seeking the real estate brokerage and marketing contract to prevent any misunderstanding or jurisprudence, and this often helps to complete real estate transactions, pointing out that many dealers in the sector look forward to the system being an important and strong tributary for real estate practitioners.

Noting that many of the dealers in the sector look forward to the system being an important and strong tributary for real estate practitioners.

Correcting the status of irregulars

<Regarding the fate of irregular brokers, Al-Qahtani said: We hope that those who are not allowed by law to work in the real estate market will correct their status, and residents and irregulars and those who are not allowed by law to work in real estate brokerage must respect the legislation, regulations and the system of the General Authority for Real Estate, explaining that one of the reasons for enacting these regulations is the previous chaos in the real estate market from fake, unprofessional and anonymous advertisements.

Al-Qahtani said. Al-Qahtani hoped that the real estate market, with the support of the General Authority for Real Estate and its legislation for the sons and daughters of this country to be a vital national asset, and that the real estate market creates employment opportunities and profitable commercial income for many of those involved in it.

The real estate sector as a whole will be one of the tributaries of this majestic nation under the leadership of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz and His Highness the Crown Prince Mohammed bin Salman bin Abdulaziz, may God protect them.

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Talal Al-Otaibi : Initial difficulties besiege real estate advertising

Talal Al-Otaibi, Al-Bunyan Shores for Real Estate Services, expressed his happiness and deep pride in the real estate brokerage system and the interest in the real estate sector, and the clear efforts of the General Authority for Real Estate, which deserve thanks, stressing that the implementation of the regulation will achieve a number of gains and eliminate randomness in real estate transactions in general, and preserve the rights of all parties, in addition to Saudizing the sector and localizing jobs for Saudis only.

About the impact of the system on the completion of real estate transactions, Al-Otaibi indicated that the application in the beginning will be difficult, which will affect the completion of transactions, and he attributed this to the mechanism of real estate advertising that differs from the previous situation, where you must take a dedicated number for each advertisement and will not be limited to one advertiser number for all its advertisements and this is somewhat difficult, and we hope to amend it later, at the same time Al-Otaibi believes that the market will gain professionalism in its transactions after the approval of the system.

Al-Otaibi

Working behind the scenes and circumventing the system

Talalal Al-Otaibi expected that the real estate brokerage system will limit many irregular brokers, but they will not disappear from the scene from my point of view, violators of the regulations, especially non-Saudis, will resort to working in secret and circumventing the system, and we hope that the General Authority for Real Estate will intensify monitoring tours not only on the field level but also on electronic advertisements as well.

Talalal Al-Otaibi hopes to see a vision of the real estate brokerage system. Al-Otaibi hopes to see a strong real estate market in 2023 in light of the new regulations that will make the Saudi real estate sector attractive and attractive to investments from outside the Kingdom in order to become an important arm in achieving the Kingdom's vision 2023.