{"id":58208,"date":"2023-08-06T13:41:31","date_gmt":"2023-08-06T10:41:31","guid":{"rendered":"https:\/\/amlak.net.sa\/?p=58208"},"modified":"2023-08-06T13:41:31","modified_gmt":"2023-08-06T10:41:31","slug":"%d9%84%d8%a7%d8%a6%d8%ad%d8%a9-%d8%a7%d9%84%d8%a7%d8%b3%d8%aa%d8%b4%d8%a7%d8%b1%d8%a7%d8%aa-%d9%88%d8%a7%d9%84%d8%aa%d8%ad%d9%84%d9%8a%d9%84%d8%a7%d8%aa-%d8%a7%d9%84%d8%b9%d9%82%d8%a7%d8%b1%d9%8a","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/58208\/","title":{"rendered":"Real Estate Consulting and Analysis Regulation prohibits dealing with pseudonyms"},"content":{"rendered":"

banned Real Estate Consulting and Analysis Regulation<\/a><\/strong><\/span> The licensee must use a pseudonym in social media or any media outlet, use the Authority's name and logo in any real estate consultation or analysis, and practice real estate analysis services based on paid advertising.<\/p>\n

According to Article 6 of the draft regulation, when a licensee enters into a mediation contract with a beneficiary to provide real estate consultations, it must be provided in writing - during the validity period of the contract - and include the following data in the consultation: (the mediation contract number, the licensee's name and license number, the date of the consultation, and the substantive information and data on which the consultation is based).<\/p>\n

If the licensee provides incorrect information or data or commits a violation, the licensee shall correct it in the same medium, upon a request from the beneficiary or the Authority, without this resulting in exempting the provider from any liability resulting from it.<\/p>\n

The Authority confirmed that the regulation published to survey the opinion of the real estate sector in its various segments comes within the system of real estate legislation that aims to raise the efficiency of the real estate market on the one hand and raise reliability on the other hand, and is an extension of the regulations that resulted from the real estate brokerage and services system, as the real estate consulting or analysis activity is one of the influential activities that contribute to providing accurate information that helps in making sound decisions, and enhances the sustainability of information and legalizes the way it is presented to ensure that all parties to real estate operations benefit from it.<\/p>\n

\u00a09 Articles in the Real Estate Consulting and Analysis Regulation<\/h5>\n

And she explained \u201cPublic Authority for Real Estate<\/a><\/strong>\u201dThe regulation, which includes nine articles regulating the provisions and requirements, defines real estate consultations as \u201crecommendation, opinion or advice related to the real estate sector, which is provided to the beneficiary by any means, whether written, visual or audible, etc.\u201c, while it clarifies that real estate analyses mean: \u201dThe opinion or analysis related to the real estate sector, which is presented to the public through the media, social media platforms, or the like.\u201c.<\/p>\n

According to the draft, in addition to the requirements in the Executive Regulations of the Real Estate Brokerage Law, it is required to license the practice of real estate consultancy service - in addition to the requirements in the Executive Regulations of the Real Estate Brokerage Law - for individuals affiliated with legal persons (establishments), or natural persons (individuals), to obtain a university degree in related disciplines, and a minimum of (3) years of experience in practicing any of the real estate activities, and the Authority may exempt from the qualification requirement based on the criteria it sets in this regard.<\/p>\n

As for the \u201cReal Estate Analytics Service\u201d, in addition to these conditions, the experience must be at least (10) years in practicing any of the real estate activities.<\/p>\n

The need for integrity and sincerity<\/span><\/h5>\n

The licensee to practice the real estate consulting and analysis service must demonstrate integrity and sincerity, exercise professional care, deal impartially and objectively with beneficiaries or recipients, ensure the accuracy and correctness of the information provided, and not include any misleading information or data, or incompatible with the real estate data and information issued by the official authorities or licensed entities when providing real estate advice, and provide the Authority with any information or data requested by it within the period specified in the request.<\/p>\n

The draft regulation prohibits the licensee to practice real estate consulting and analysis service from producing or promoting anything that may compromise the stability of the real estate market, harm it or confuse the public, providing the service if it leads to the achievement of personal interest or others, or harming others, and is done in a way that involves fraud, deception or misinformation, providing the service based on unofficial information if the result is to affect the real estate market negatively or positively, disclosing any confidential information about the service, and giving any comparisons or references that offend others.<\/p>\n

And it was\u00a0Public Authority for Real Estate<\/a><\/strong> Last week, the draft regulations for real estate consultancy and analysis were released through the \u201dExplore\u201d platform to enable the public, government agencies and the private sector to express their views and comments on them before they are approved in September of this year.<\/p>","protected":false},"excerpt":{"rendered":"

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