The General Authority for Real Estate, with the participation of a number of competent authorities during the month of September, carried out 44 joint control tours, which included visiting 541 real estate establishments in a number of regions of the Kingdom, with the aim of ensuring compliance with real estate legislation in general, and the real estate brokerage system in particular, in addition to the competence of the participating government agencies.
Regulation of the real estate market.
Regulating the real estate market
During the same period, its teams carried out 10,262 field audits on billboards and real estate offices, which resulted in the detection of a number of violations such as practicing real estate brokerage or real estate services without obtaining a valid license, failing to exercise due diligence to verify the validity of the information obtained from the property owner or the owner of the benefit, and failing to indicate the name of the licensee or the license number in the advertisements related to the property.The Authority explained that field work is one of the paths it is working on to regulate the real estate market, and its supervisory teams carried out 10,262 field supervisory audits on billboards and real estate offices, which resulted in the detection of a number of violations represented in practicing the activity of real estate brokerage or services without obtaining a valid license.
Targeting real estate platforms
The Authority received 820 real estate reports through its various channels that were dealt with and processed, and the number of electronic scans reached more than 18,032 operations, and the Authority pursues electronic monitoring that targets digital channels and real estate platforms to verify the regularity of advertisements and digital real estate brokerage practices in accordance with the laws and regulations.The General Real Estate Authority called on all brokers and real estate service providers to comply with the rules and provisions of real estate brokerage system, and see the violations to avoid penalties that include warning, suspension or revocation of the license or financial fines of up to 200 thousand riyals.
The General Authority for Real Estate also called on citizens and residents to comply with the rules and regulations. It also called on citizens and residents to submit their reports in case of suspicion of real estate violations or real estate fraud through the response path for reports through the Authority's official platform or call (199011) for real estate inquiries.
