The The General Real Estate Authority has seized 3,500 non-compliant real estate advertisements since the implementation of the real estate brokerage system, and has received 2,057 reports.
The most prominent violations detected through the electronic monitoring system included the lack of a license for the advertisement, failure to state the licensee’s name or license number in the advertisement or publication related to the property, or providing misleading information or concealing essential information regarding the property subject to brokerage or real estate services.
The Real Estate Authority confirmed in a statement that engaging in real estate brokerage or real estate services without obtaining a valid license or after its expiration constitutes a major violation of the regulations, and failure to state the licensee’s name or license number in any advertisement or publication related to the property, or providing real estate brokerage services without possessing copies of documents and proof of ownership of the property or its usufruct, are considered violations subject to penalties.
