150 days after the implementation of Real Estate Brokerage System. The regulations prohibit the practice of the profession without a license, and the system mandates that all contracts must follow approved templates and be registered on the electronic platform.
The importance of real estate brokerage lies in its role in facilitating the contractual process between parties and safeguarding their rights, as stipulated by the system.
The newspaper “Amlak Al-Aqaria” conducted a wide-ranging survey on the evaluation of the system’s implementation over the past period and its impact on the completion of transactions and the elimination of distortions in the sector.
Salah Al-Suwaidan: Assessment processes are ongoing to enhance real estate security
At the outset, Salah bin Mohammed Al-Suwaidan, CEO of the Deal app—a founding partner—spoke, emphasizing that the Saudi real estate market is taking on a new form, building on past experiences, and presenting an image that is far more attractive and distinctive than before—one marked by distinction, professionalism, and greater appeal to investors. He noted that legislation issued by the General Real Estate Authority and relevant government agencies, along with numerous developments surrounding the sector, have worked to enhance the professionalism of the real estate market—particularly real estate brokerage. This is part of the renewed drive toward the renaissance of our beloved country at all levels, in line with the objectives of the Kingdom’s Vision 2030.
Al-Suwaidan emphasized that amending legislation for a market of this size will face many challenges, and we have no doubt that the relevant authorities have taken into account the capacity for implementation, the necessary level of oversight, and ongoing evaluation processes aimed at strengthening real estate security, which is one of the Vision’s objectives.
When asked about working in real estate brokerage—does one need training and certification, or experience and practice? Al-Suwaidan replied: “To excel in this field, one needs to advance both knowledge and experience; that is, both, through theoretical and practical training, and by making a point of attending events that allow you to meet experienced professionals, listen to them, and consult with them on matters that are unclear. Real estate brokerage remains a long journey, and like any field of work, there are no limits to the experience one can gain.”
Abdullah Al-Mousa: Training, Development, and Practice to Identify Obstacles in Implementing the Real Estate Brokerage System
For his part, Abdullah bin Nasser Al-Mousa —a real estate broker and marketer—that the General Real Estate Authority has commendably worked to transform and develop the real estate system into one based on loyalty, commitment, generosity, and reliability for all parties involved in the decision-making process, starting with the buyer, through the broker, and ending with the seller. Al-Mousa emphasized that every change and innovation will face challenges, but these will be overcome through cooperation between brokers and regulatory authorities, God willing.
Al-Mousa noted that the legislation has closed all loopholes that could distort the real estate market, in line with the vision of His Highness Crown Prince Mohammed bin Salman, may God protect him, for us and for the nation.
Al-Mousa emphasized that every profession requires training, development, and practice to identify obstacles, overcome them, and innovate new and advanced methods—and therein lies the spirit of competition.
At the end of his remarks, Abdullah Al-Mousa referred to the practice of fronting in lease contracts and some agencies that act as fronts for sub-brokers; however, there remains a group that believes in transformation and development and strives for it, while another team adapts to this transformation and development—they are the ones who lag behind and lose their leading position, which sets them apart in this rapid evolution.
