The Real Estate Brokerage Law. Gives confidence, preserves rights and penalizes violators

Real Estate Brokerage System

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Poll-Abdullah Al-Salih: The real estate brokerage system came into effect after a 6-month corrective period to evaluate the experience, fulfill the conditions and address the distortions, Amlak newspaper conducted a survey about the experience of the system and the reasons for continuing in the profession.

Amlak newspaper conducted a poll on the experience of the system and the reasons for continuing in the profession.

Aboudi bin Abdullah: Making a qualitative leap in real estate applications

Aboudi bin Abdullah

Aboudi bin Abdullah, co-founder of Housing Incubator and ReBrain, confirmed that the deadline Real Estate Brokerage System has contributed to the preparation and qualification of those dealing with the new system, as real estate brokers started obtaining the Val license for free without the need for a training program, and helped them integrate with it, as well as making owners part of the preparation phase.

Aboudi bin Abdullah, co-founder of Housing Incubator and ReBrain, confirmed that the deadline for the Real Estate Brokerage System contributed to the preparation and qualification of those who are dealing with the new system.

Aboudi explained that the application of the system has many influences on the work of real estate brokers, including creating a marketing identity for the real estate broker, whether through promotional campaigns or files designed to display and market to owners to highlight the size of the broker's distinctive tools from others.

Aboudi explained that the application of the system has many influences on the work of real estate brokers.

The real estate brokerage system provides job opportunities

He pointed out that the system will provide very large opportunities in the coming period for brokers, whether at the level of individuals or institutions, especially those who can build a good work team, in which the ratios and incentives are clarified for everyone, and distribute tasks well so that within the team there is someone responsible for aerial photography and another specialized in managing social media accounts and promotion, and a team that meets the owners, this integration in building the work team will provide greater benefit from the new opportunities in this important field.

Aboudi predicted that the real estate brokerage system will provide new opportunities in this important field.

Aboudi expected a boom in licensed and upcoming real estate applications after the implementation of the system, because the broker will not be able to add the advertisement without a license and a mediation contract between him and the owner, which makes a qualitative leap in the real estate market and gives the ads great credibility, making the market transparent in terms of offers and will contribute to raising the rating of the real estate market in the Kingdom internationally, and attract local and international investment to this large sector.

Oboudi expected a boom in licensed and upcoming real estate applications after the implementation of the system.

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Saad bin Ibrahim: The application of the system achieves its ultimate goal

Saad Bin Ibrahim, Marketing Manager at Jusoor Real Estate Company, said that the six-month grace period granted by the General Authority for Real Estate for the real estate brokerage system, which started last January, was a trial period, during which the system was tested among all parties dealing with it before the actual implementation of the system in the sector.

Saad Bin Ibrahim, Marketing Manager at Jusoor Real Estate Company, said that the implementation of the system achieves its ultimate goal. According to Ibrahim, although the real estate brokerage system achieves its ultimate goal of controlling the real estate market in the Kingdom, it needs a lot of facilities and amendments, so that its benefit is maximized among dealers in the real estate sector.

The marketing manager at Jusoor Real Estate Company revealed that the most important impact of the application of the system on the real estate sector is to legalize the work of real estate brokers as stipulated by the system, as there is no room to work outside its framework, because there are still some owners who require the real estate broker to be dealt with outside the real estate brokerage system.

About the new opportunities. On the new opportunities provided by the application of the system, Ibrahim emphasized that the application of the real estate brokerage system will preserve the rights of all parties subject to it, which is a great opportunity provided by the system to those who deal with it, as it eliminated the fears that some parties had during the conduct of brokerage operations.

At the end of his speech, Saad stressed that the real estate brokerage system should be legalized.

At the end of his talk, Saad bin Ibrahim stressed that the application of the real estate brokerage system will make all dealers more committed, and it will achieve discipline within the real estate market in general, as there is no room for violators who await penalties if they violate the system.

The application of the real estate brokerage system will preserve the rights of all parties subject to it.