The General Real Estate Authority emphasized the importance of formalizing real estate brokerage contracts among all parties involved in the real estate sector.

The Authority stated that real estate brokerage contracts between the owner and the real estate broker help protect the rights of all parties involved, limit real estate disputes, improve the quality of real estate transactions, and promote transparency in the real estate market.

The Authority also clarified, in an infographic published on its “X” social media account, the clauses of real estate brokerage contracts, which are as follows:

• Details of the contracting parties
• Details of the property subject to the contract
• Agent’s details and agency number, if applicable
• Percentage or amount of the real estate brokerage commission