{"id":32056,"date":"2021-08-15T21:15:02","date_gmt":"2021-08-15T18:15:02","guid":{"rendered":"https:\/\/amlak.net.sa\/?p=32056"},"modified":"2021-08-15T21:15:02","modified_gmt":"2021-08-15T18:15:02","slug":"%d9%86%d9%86%d8%b4%d8%b1-%d8%a7%d9%84%d8%aa%d9%81%d8%a7%d8%b5%d9%8a%d9%84-%d8%a7%d9%84%d9%83%d8%a7%d9%85%d9%84%d8%a9-%d9%84%d9%82%d9%88%d8%a7%d8%b9%d8%af-%d8%aa%d9%86%d8%b8%d9%8a%d9%85-%d8%a7%d9%84","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/32056\/","title":{"rendered":"We publish the full details of the regulation of \u201creal estate brokers\u201d to market small and medium-sized real estate projects"},"content":{"rendered":"

The official newspaper \u201cAm Qaraa\u201d announced the rules governing real estate brokers qualified to market small and medium-sized projects on the map.

4 clear goals<\/span><\/strong>

These rules aim to require qualified real estate intermediaries to list small and medium-sized projects on the map, incentivize real estate intermediaries to effectively enter into the small and medium-sized real estate marketing business, regulate real estate practices for the marketing of small and medium-sized projects before completion, and involve the private sector in the awareness-raising role regarding the real estate projects listed on the map.

Requirements of the \u201cReal Estate Broker\u201d<\/span><\/strong>

According to the new system, the real estate intermediary submits an application for registration in the real estate intermediaries registry after paying the fee in accordance with the form prepared for this purpose to the \u00abWafi\u00bb sales or rental committee, in paper or electronically, accompanied by a copy of the current business register, the original of the ownership certificate of the brokerage office or the lease agreement and the certificate of passing the qualifying program.


And the real estate intermediary must renew its registration in the registry before the expiration of the license by a period not less than 15 days; in case of passing 30 days from the expiration of the license and failure to renew, the application is treated as a new registration; in addition, before advertising or marketing any small or medium-sized real estate project on the map, it is required to ensure that the requirements are completed, the most important of which are the electronic copy of the certificate of ownership of the real estate project and obtaining the prior written consent of the land owner, and submitting the regulatory permits and the engineering and architectural designs approved by the competent authorities to approve the establishment of the project; and the construction area must not exceed 10,000 square meters unless it has a sales or marketing license on the map.

Registering project data<\/span><\/strong>


The real estate broker undertakes to register all the data of the projects announced on an electronic platform, keeping in a special register all the transactions conducted by him as well as the documents and papers related to them, and to provide \u00abWaafi\u00bb with a quarterly report, and not to dispose of the funds received from buyers or tenants for purposes other than those intended for them and must pay them or deliver them in accordance with what has been stipulated for him.


Among the mediator\u2019s obligations is not to become a second party in the contract that he mediated unless the contracting party so permits; in that case, he is not entitled to remuneration for his efforts; and he is responsible for any losses or damages caused to either contracting party as a result of a fraudulent or misleading mediation or failure to observe the due procedures, in addition to informing buyers about the terms of sale or purchase on the map and explaining their rights and obligations, which are considered necessary to dispel any confusion regarding them; and not marketing small and medium-sized real estate projects on the map after the license expires.

Sanctions for violators<\/span><\/strong>
The new project grants the committee the right to sign any sanctions against the real estate intermediary who violates any provision of these rules or the decisions issued pursuant to them; this begins with a written warning and then suspends the registration in the register, with a deadline of no more than 6 months to bring the sanctions to the cancellation of the intermediary\u2019s registration and its non-registration in the register for no more than 5 years.


The \u00abWafi\u00bb sales or leasing committee aims to create an regulatory environment that stimulates real estate development, in which the private sector operates through a series of real estate legislations that regulate the real estate market, ensuring the development of real estate regulations for projects that support and strengthen the bonds of trust, honesty, and transparency among the parties involved in the real estate market, within an environment that achieves consensus and protects rights while simultaneously addressing emerging challenges.<\/p>\n\n\n\n

For the full list (Click here<\/a>)<\/p>","protected":false},"excerpt":{"rendered":"

Reading time: <\/span> 2<\/span> Minutes<\/span><\/span>The official gazette \u201cUmm al-Qura\u201d announced the regulations governing real estate brokers qualified to market small and medium-sized off-plan projects. Four Clear Objectives: These rules aim to establish the requirements for registering real estate brokers qualified to market small and medium-sized off-plan projects, to encourage real estate brokers to actively engage in the marketing of small and medium-sized properties, and to regulate real estate practices for marketing small and medium-sized projects prior to \u2026 Read more<\/a><\/p>","protected":false},"author":11,"featured_media":32070,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"\u0646\u0646\u0634\u0631 \u0627\u0644\u062a\u0641\u0627\u0635\u064a\u0644 \u0627\u0644\u0643\u0627\u0645\u0644\u0629 \u0644\u0642\u0648\u0627\u0639\u062f \u062a\u0646\u0638\u064a\u0645 "\u0627\u0644\u0648\u0633\u0637\u0627\u0621 \u0627\u0644\u0639\u0642\u0627\u0631\u064a\u064a\u0646" \u0644\u062a\u0633\u0648\u064a\u0642 \u0627\u0644\u0645\u0634\u0627\u0631\u064a\u0639 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