{"id":32880,"date":"2021-09-24T20:50:03","date_gmt":"2021-09-24T17:50:03","guid":{"rendered":"https:\/\/amlak.net.sa\/?p=32880"},"modified":"2021-09-24T20:50:03","modified_gmt":"2021-09-24T17:50:03","slug":"5-%d8%a7%d9%84%d8%aa%d8%b2%d8%a7%d9%85%d8%a7%d8%aa-%d9%8a%d8%ac%d8%a8-%d8%b9%d9%84%d9%89-%d8%a7%d9%84%d9%88%d8%b3%d9%8a%d8%b7-%d8%a7%d9%84%d8%b9%d9%82%d8%a7%d8%b1%d9%8a-%d8%a5%d8%aa%d8%a8%d8%a7","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/32880\/","title":{"rendered":"5 Obligations That Real Estate Brokers Must Follow, Including: 5 % Maximum Deposit for Property Reservation"},"content":{"rendered":"

Specify The rules governing real estate broker licenses<\/a> A 5% higher percentage % of the property value is requested by the real estate intermediary as a deposit for booking the property, in addition to the real estate intermediary not being entitled to the purchase price if they are a second party to the contract for sale. Violators will be punished by the cancellation of the real estate brokerage license and its non-registration in the registry for up to 5 years.<\/p>\n\n\n\n

Ammas announced on the \u00abWafi\u00bb map program the rules governing real estate brokerage licenses for land for sale or lease for small and medium-sized projects, with the area reaching up to 5,000 square meters for medium-sized projects, and between 5,000 and 10,000 for medium-sized projects.<\/p>\n\n\n\n

Marketing requirements<\/span><\/h2>\n\n\n\n

The regime imposed conditions on Real estate broker<\/a> Registering in the system before advertising or marketing any small or medium-sized real estate project on the map, ensuring that the requirements for having a copy of the electronic document of ownership of the project to be marketed are met, obtaining the prior written consent of the land owner or the owner of its use to market the project, and obtaining the regulatory permits and engineering and architectural designs approved by the competent authorities to approve the establishment of the project, and that the construction area of the project does not exceed 10,000 square meters, unless the project has a sales or marketing license on the map, as the system has granted the marketing of small and medium-sized real estate projects on the map to real estate brokers who have a license registered in the Real Estate Brokers Register, and the validity of the license is for one year for the first time, and then renewed for another three years.<\/p>\n\n\n\n

Qualifying Real Estate Brokers<\/a><\/span><\/h3>\n\n\n\n

The committee has set a number of requirements for granting real estate brokers registration licenses as real estate brokers after paying the specified fee, which includes requiring the applicant to upload a certificate confirming that the applicant has passed the qualification program for real estate brokerage, uploading a copy of the valid commercial register issued by the competent authorities, and a true copy of the ownership certificate of the place of brokerage or its lease contract, and the real estate broker must apply to renew his registration in the register no less than 15 days before the expiration of the license, and if 30 days have passed since the end of the license and not renewed, the renewal request is treated as a new registration request.<\/p>\n\n\n\n

Real Estate Broker Obligations<\/span><\/h3>\n\n\n\n

The committee listed a number of obligations that the real estate broker must abide by, which include providing the committee with the required license requirements, registering all the data of the advertised projects in an electronic platform, keeping in his own record all transactions concluded through him, keeping the documents and papers related to them, and providing them to the committee on a quarterly basis, in addition to not establish himself as a second party to the contract that he brokered unless authorized by the contractor, in which case the real estate broker is not entitled to the pursuit fee, and not disposing of the funds he receives from buyers or tenants in other than the purposes for which they were allocated, and he must perform or deliver them in accordance with his stipulation, and that he is responsible for any losses and damages incurred by any contracting parties as a result of fraudulent brokerage. He must perform or deliver them in accordance with what was stipulated to him, and be responsible for any losses or damages suffered by any of the contracting parties as a result of fraudulent or deceptive mediation or without observing the principles to be followed, and educating buyers about the provisions of selling or buying on the map. or buying off-plan, and stating their rights and obligations, which are necessary to avoid ignorance, and not marketing small and medium real estate projects off-plan when the license expires, in addition to the requirement that the reservation amount should not exceed 5% of the value of the real estate unit.<\/p>\n\n\n\n

The most important obligations of the real estate intermediary<\/span><\/strong><\/h3>\n\n\n\n

The reservation amount does not exceed 5 % of the value of the real estate unit<\/p>\n\n\n\n

does not establish itself as a second party to the contract it brokered<\/p>\n\n\n\n

Educating buyers on the provisions of buying or selling off-plan<\/p>\n\n\n\n

Be liable for contractors' losses as a result of fraud<\/p>\n\n\n\n

Failure to market when the license expires<\/p>","protected":false},"excerpt":{"rendered":"

Reading time: <\/span> 2<\/span> Minutes<\/span><\/span>The regulations governing real estate broker licenses specify that 5 % of the property\u2019s value is the maximum amount a real estate broker may request as a deposit to reserve the property, In addition, a real estate broker is not entitled to a commission if he or she is a second party to the sales contract, and violators are penalized by having their real estate brokerage license revoked and being barred from registration for up to 5 years. \u00abYesterday,\u00bb the program announced the sale or \u2026 Read more<\/a><\/p>","protected":false},"author":11,"featured_media":32881,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"0","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_seopress_news_disabled":"","_seopress_video_disabled":"","_seopress_video":[],"_seopress_pro_schemas_manual":[],"_seopress_pro_rich_snippets_disable_all":"","_seopress_pro_rich_snippets_disable":[],"_seopress_pro_schemas":[],"amlak_video_sent":"","footnotes":""},"categories":[104],"tags":[],"class_list":["post-32880","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislation-and-regulations"],"acf":{"amlak_post_excerpt":"","amlak_post_excerpt_source":{"label":"Amlak 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