Poll: Abdullah Al-Salih: The real estate market has seen significant improvement one year after the implementation of the Real Estate Brokerage SystemIt has become more regulated and has contributed significantly to increasing confidence and transparency in real estate transactions. These positive developments have directly affected real estate professionals and brokers, making the market more prosperous and attractive to investors and consumers alike. The real estate newspaper “Amlak” polled brokers to evaluate their experience during the past period and for more details.
Makhlad al-Rahimi: Organizing the market and increasing demand
Makhlad Al Rahimi, CEO of Basmat Riyadh Real Estate, said: “One year after the implementation of the real estate brokerage system, the market has improved for the better, and its signs have begun to appear; the market has become promising for real estate agents and brokers, and confidence has increased by using technology and applying governance in knowing all the required data and obtaining it quickly.”.
He stressed that the impact of the system has started positively and we realtors and brokers alike have felt it, pointing out that the market has become organized, which made the demand for it increase, according to this system, which facilitated procedures in all aspects of real estate such as selling, buying and renting.
Al-Rahimi explained that the gains brought about by the VAL real estate license are many, the most important of which is the knowledge of the broker and how to deal with him according to the system and his obtaining the VAL license through which he is allowed to work in the real estate field, stressing that the customer has become more reassured than before and the demand in the market has increased and confidence has increased as a result of obtaining the VAL license and the demand for it to practice real estate marketing.
As for the new brokers, Al-Rahimi explained that they can add through their practice of working according to the Real Estate Authority system, which allowed them to work easily and easily and use the technology that they are good at as a promising new generation of both sexes, and the road became available for them to stand out more and provide the best, thus forming a clear addition to the market, adding that the system helps to generate investment opportunities if they make good use of them and keep pace with the new by applying the regulations in the real estate field according to the Authority's system and cooperating with customers and meeting their requests.
Saad Al-Dosari: Creating a Val License Important Acquisitions
For his part, Saad Al-Dosari, a real estate broker, stressed that the experience of the real estate brokerage system within a year was excellent and promoted increased confidence and transparency in the real estate sector, and its impact was good as it provided an opportunity for young men and women to engage in this field after their qualification and training.
Al-Dosari explained that the introduction of the VAL license is one of the most important gains Application of the systemIt provided employment for both genders, created investment opportunities, and promoted transparency and control of financial transactions.
Al-Dosari praised the entry of new young brokers, describing them as the future of the real estate market and can be an addition by providing services and enhancing competition in the sector. He recommended them to persevere, patience and not to rush, wishing them success, and Al-Dosari told Amlak that the real estate brokerage system can be a key to generating more investment opportunities.
Mohsen Alharthi: Betting on the success of new mediators
Mohsen Zuwaid Al-Harithi, owner of Mohsen Group for Real Estate Services, said that a year after the implementation of the real estate brokerage system has witnessed many clear achievements in terms of the organizational image of the market and the disappearance of the negative manifestations that existed in real estate transactions, as everything has become clear to the parties to the transaction.
Al-Harthi explained that the experience of one year of applying the system has become tangible and the sector is reaping its fruits, stressing that their experience during this year exceeded the experiences of many years; describing it as a (rich and blessed) experience, pointing to the important professional addition that he gained by dealing according to the regulations, this will definitely represent cumulative knowledge experiences that exceed what we learned in the past before the introduction of the Val license, and Al-Harthi expressed his great optimism for his sons and daughters who are new brokers in the real estate market, and he bet on their success and will add a lot to the market.
Al-Harthi believed that the real estate brokerage system will be a key to generating more investment opportunities that will benefit everyone, and at the end of his speech, he thanked the General Authority for Real Estate for all that it provides to serve this important field and serve those who work and deal in it, and thanked the real estate newspaper “Amlak” and all its employees for its purposeful presentation that benefits the reader and the real estate.
Abdulrahman Al-Faleej: Catalyzing more investment opportunities
In the same context, Abdulrahman Al-Fleij, a real estate broker, praised the experience of the real estate brokerage system during this year, stressing that it is undoubtedly a successful experience, and we now have an integrated system that is periodically evaluated, and one proof of its success is that real estate brokerage and marketing opened a door for the sons and daughters of the country for organized self-employment, thus increasing their expertise and financial resources.
Al-Faleej believes that the system contributed to increasing the commercial movement and the speed of trading real estate products, which are direct effects of its implementation, as it allowed the opportunity to expand marketing and enter a new factor that performs the role played by real estate offices and also in a digital way that reaches everywhere and throughout the day, pointing out that the market needed to be developed and rooted in regulations and policies as it is one of the important tributaries in increasing local production that influences and contributes to the economy of the country.
Al-Faleej pointed out that the scientific and skilled qualification of brokers is the first gain of the introduction of the VAL license, as the three training programs required by the license are considered training, education and qualification for the personality of the broker, so we have qualified and capable brokers, and the preservation of rights with the license has become an enhancement and incentive for the broker.
He explained that new real estate brokers can be an addition to the real estate market by bringing the product to customers and their speed in an innovative way, which facilitates and multiplies the completion of deals, all of which is a qualitative addition to the market that makes it more mobile and more widespread.
The brokerage system helped in generating and stimulating more investment opportunities, starting with its incentive tools and then the presence of the qualified broker in the ways of searching and marketing the real estate supply, as well as the investment opportunities accelerate their cycle in the market through sale and resale operations, as well as from offering leasing and leasing opportunities, and thus the tendency of capital to find successive investment opportunities, Al-Fulaij said.
Tahani al-Falaj: Angel Culture and Awareness.. The main challenges
On the other hand, Tahani Al-Falaj, a real estate broker, said that her experience with the implementation of the real estate brokerage system was not good, as it increased the financial cost for the real estate broker, and it also restricted his work at the present time, due to the lack of culture and awareness of the owners of the importance of adhering to the regulations and the benefit of all parties, which is one of the most prominent challenges.
The impact of the system on the real estate market was limited to licensed brokers only, while the market is still rife with violations, expressing her hope that the system will eliminate these violations in the coming period.
However, she believes that one of the most important gains of implementing the system after the introduction of Val's license is to work more clearly and seriously, and the new real estate brokers can add to the real estate market, because of the technical background they have and can help develop the real estate sector, she said.
Tahani Al-Falaj confirmed that the implementation of the real estate brokerage system has helped to create investment opportunities in the real estate market, pointing out that with the continued implementation of the system, we will reach an organized, accurate and transparent real estate market, and this is what attracts investors from outside the Kingdom.
