The General Real Estate Authority has licensed (71) online real estate platforms with a “FAL” license for real estate brokerage and marketing, since the real estate brokerage system went into effect, after they met the necessary conditions and requirements for obtaining the license and completed the technical integration with the Authority.
The Authority confirmed that it continues to accept license applications for real estate platforms through the Real Estate Brokerage Platform via its official website, thereby fostering competition and providing customers with more options and enriching experiences. It also emphasized that unlicensed platforms will be cracked down on and subject to regulatory action.
It noted that A real estate license is the official document that authorizes individuals and entities to engage in real estate brokerage and services covered by the Real Estate Brokerage System, explaining that the system aims to regulate real estate brokerage activities, provide innovative and high-quality real estate services to beneficiaries, contribute to the sustainability of real estate assets, limit real estate disputes, protect the rights of transactions parties, and increase transparency in the real estate market.
It is worth noting that the Authority remains committed to developing real estate legislation that ensures the stability of the real estate market, oversee it, and hold violators accountable, while emphasizing the need to comply with regulations. The Authority notes that it accepts reports via its platform or by calling the toll-free number (199011).
