Brokers 101: What Every Property Purchaser must know...

The above statistics demonstrate the prominent space occupied by the real estate sector in the Dubai economy. There is a huge demand for investments in completed properties as well as off-plan units and real estate agents are usually responsible for bringing the buyer and seller together. This article aims to provide a brief summary of the current brokerage laws and DLD policies about brokers’ responsibility.  Bylaw 85 of 2006  Real estate brokers in Dubai are governed by RERA pursuant to ‘Bylaw 85 of 2006 regulating the real estate brokers register in the Emirate of Dubai’ (“Bylaw 85”). Bylaw 85 prohibits brokers from engaging in real estate brokerage...