The General Authority for Real Estate announced that the Saudi Real Estate Institute has started receiving applications for registration in the training program to obtain the ”VAL” license for real estate consultancy and the "VAL" license for real estate analysis. The Authority explained that applications for the program will continue for five days through the official website of the Institute, as passing the training program is a condition for practicing the activity of real estate consultancy or analysis, whether for individuals or establishments after the entry into force of Real Estate Consultancy and Analysis Regulation and its publication in the Official Gazette.

The Saudi Real Estate Institute announced that it has started to receive applications for the training program for obtaining the "VAL" license for real estate consultancy and "VAL" license for real estate analysis. <It indicated that both activities: Consulting and real estate analysis are among the real estate services covered by the Real Estate Brokerage Law, which came into effect last July, as the system included the regulation of the practice of mediating real estate transactions between its parties, in addition to the activities of real estate services, which include: Real estate marketing, property management, facilities management, real estate auctions, real estate advertising, and real estate consulting and analysis, which are practiced exclusively by licensed and qualified service providers from establishments and individuals.

Difference between consulting and analysis

<The Commission emphasized that the difference between consulting and analysis is: The regulation defines real estate consultancy and analysis as: Recommendation, opinion or advice related to the real estate sector, but real estate consultations are the ones that are provided to the beneficiary in writing and the provider is required to conclude a contract between him and the beneficiary, while real estate analysis is provided through the media, social media platforms or the like as mass communication activities.

Real estate consultations and analysis are published through the media, social media platforms or other public communication activities.

The training program was prepared at the Real Estate Institute

She pointed out that the training program was prepared at the Real Estate Institute in cooperation with major local and international training houses specialized in consulting and analysis programs, and covers the legal, communication and technical aspects in the field of providing real estate consultations and analysis through high-level training competencies in this field, and the duration of the training program reaches one and a half months (six weeks), which reflects the interest in the importance of the outputs to ensure the accuracy of the consultations and information provided to the beneficiaries.

The training courses are offered by the Real Estate Institute in cooperation with the major local and international training houses specialized in consulting and analysis programs. <The training courses in these two tracks are offered in person every quarter starting next January due to the importance of applying the skills, sciences and knowledge in the content of these programs to ensure the necessary qualification to practice activity in the real estate sector, and each track includes 14 training courses, and it is required to apply for nomination for the real estate consultancy track The applicant must have a university degree in relevant disciplines, such as economics, engineering, finance, business administration, etc. and a minimum of 3 years of experience in practicing any of the real estate activities, while for real estate analytics, a minimum of 10 years of experience in practicing any of the real estate activities is required.

Applying via the Real Estate Institute Portal

The training program can be applied for through the portal of the Saudi Real Estate Institute and choose the required track, then the Authority will study the application and verify the requirements, and the applicants will be notified of the results of the nomination as a first stage, then the accepted ones will be notified of the times and place of the courses, and after passing the training program, the Institute will issue a certificate of passing, and the applicant will complete the procedures for obtaining the license through the platform, after which the license will be issued five working days after passing the training program.

With the approval of the Real Estate Institute, the training program will take place within a period of five working days. According to the Real Estate Brokerage Law, individuals or establishments cannot provide real estate consulting and analysis services unless they obtain a license from the General Authority for Real Estate, and according to Article 19 of the Real Estate Brokerage Law, financial fines for violators reach (200,000) riyals.

According to Article 19 of the Real Estate Brokerage Law, violators can be fined up to (200,000) riyals.