What are the main violations of the Real Estate Brokerage Law?

Riyadh - Business - Localization of real estate activities and professions

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The most prominent violations of the real estate brokerage system

  • Failure to comply with the mandatory forms and contracts for real estate services and activities.
  • Failure to deposit or register the concluded brokerage contracts or real estate transactions that take place in the electronic platform.
  • Not enabling those charged with oversight, inspection and control to perform their work, or obstructing them from carrying out their tasks.
  • Disclosure by the broker of the secrets of the transactions mediated.
  • An act or omission that would harm the interests of those dealing with the broker, or contradict the provisions of the law.
  • Failure to inform the Authority of any amendment or change related to the practice of the activity.
  • Failure to hand over the amount of the security deposit to the Authority or its authorized person.
  • The real estate broker retains the deposit as a guarantee of his right.
  • The broker receives any amount from the contracting parties in favor of any of them in excess of the amount he requires to perform his work.
  • The mediator disposes of the amounts received from the contracting parties other than for the purposes for which they were intended.
  • Failure to comply with the controls for the receipt of payments by the contracted parties.
  • Failure to exercise due diligence to verify the validity of information obtained from the property owner or utility owner.
  • Failure to disclose the information obtained from the property owner or utility owner when showing the property.
  • Providing misleading information or concealing material information regarding the property that is the subject of the real estate brokerage or real estate service.

Violations of Real Estate Brokerage Law