Failure to do so will result in a hefty Dhs50,000 fine…

If you’re looking for a home, expect to see some changes to the online advertisements you come across. RERA (Real Estate Regulatory Agency) is clamping down on brokers, to tighten up on property advertisements.

For off-plan sales promotions, real estate agents have been warned that the entire project – not just individual units – must be advertised. RERA has further stated that advertising specific properties is a violation of the type of permit that is issued to brokers.

The authority has informed brokers that ads in breach of RERA rules must be removed from property portals within five days, and failure to do so will result in a fine of Dhs50,000. Furthermore, the broker found in violation will also be suspended for up to three months.

In an interview with Gulf News, Firas Al Msaddi, CEO of fam Properties stated, “Developers in Dubai are now required to provide specific details including the property number, size, and price when issuing No Objection Certificates (NOCs) for advertising to estate agents. These details must be used by brokers to obtain advertising permits from RERA, before any online promotion can commence.”

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RERA is also tracking down duplicate and fake property advertisements online. In February, it issued a decree to brokers to remove property ads once the said property is sold or rented out. The move will help remove fake or multiple listings relating to Dubai freehold properties online, thus reducing clutter and confusion.

The new rule also mandates that one agency take on all responsibilities for the project, rather than sub-contracting different units to several others.

At the time, the authority noted that it was impacting the levels of transparency that needed to be maintained by all stakeholders in the Dubai property market. Competition from unverified property listings will be reduced, and there will be more accuracy to note trends in pricing.

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