Real Estate Articles Real Estate Brokerage. The medicine where the medicine is
Abdulaziz Alissa
The speakers whom Amlak met to talk about the real estate brokerage system after its entry into force unanimously agreed on the importance of training and qualification to practice the professions related to the activity, on which the real estate sector is based as an important pillar in real estate transactions.
<Therefore, the system focused on the need to complete specialized training courses and passing the required conditions to work in the sector, which pulls more than 220 activities in its locomotive, the sector is considered an economy on its own and another world in the world of finance and business; its deals are characterized by huge and tempting financial returns This is in addition to the assets estimated at billions of riyals that are under the expertise, wisdom, honesty and trust of real estate brokers, and for other important reasons, the real estate brokerage system took upon itself to regulate the profession and remove the distortions that have plagued the market for a long time.
In order for the system to maintain its strength and prestige, it identified the malady that real estate brokerage was suffering from the loss of rights and lack of clarity as a result of working according to the whims of individuals without restrictions; so the General Authority for Real Estate set tight controls for those who practice this profession, whether an individual or an institution, and set binding conditions for the journey of selling the property, through which all parties to the contractual process make sure of the eligibility of the real estate broker and the correctness of the information of the property being sold and the commission due, and other controls that enhance confidence and serve as a panacea for defects and enhance the principle of reliability.
Real estate brokerage is a profession that is characterized by the need for confidence and trust. With this keenness and the great and appreciated effort made by the competent authorities in drawing an attractive image of the real estate sector and tightening the legislation so that transactions are smooth; it also set strict penalties against manipulators who preferred randomness to the system, and want to complete their deals with effort and knowledge, so the penalty for violations reached a fine of 200 thousand riyals, and can be doubled if repeated within 3 years, and also included deletion and revocation of the license, these severe penalties prove the seriousness of the "Real Estate Authority" in continuing to improve the work environment in the sector.
We hope that those who have not yet done so will be more confident and will be a panacea for the glitches and reinforce the principle of reliability. We hope that those who were not lucky enough to correct their situation will make an appointment with training and fulfill the conditions; so that we all contribute to excellence, where there is no harm and no foul.
