UAE has seen a record comeback in the real estate industry in the past year. Due to the city’s ultramodern skyscrapers, amazing engineering marvels, and vibrant nightlife, lots of people are keen to become a part of Dubai’s real estate industry. Do you have good communication skills? Do you feel a rush of delight when closing a deal? Then, being a real estate agent is the right choice for you! Read along to understand how to become a real estate agent in Dubai.
Why Become a Real Estate Agent in Dubai?
There are several reasons why lots of people are interested in becoming a real estate agent/realtor/broker in the UAE. First and foremost, you will be working with the most expensive assets in the market: property. If you have the right skills for sales and negotiation and can work hard to build a good reputation, it will bring you a good amount of commission over and above your basic salary.
The real estate agent being an interesting career choice is the second reason why people opt for being a real estate agent. It is an engaging career where you have beautiful opportunities to meet with a diverse and multicultural client portfolio.
Becoming one of the highly regarded real estate agents in Dubai is no easy task. As it is a competitive industry, you will have to work hard, engage with your customers regularly, and learn to identify the needs of your clients.
Some brokerage firms hire real estate agents as independent contractors on a commission-only basis. While others offer a basic-pay-plus-commission structure. But whatever the case, most of the agent’s income usually comes from their commissions.
If you are wondering how to become a real estate agent in Dubai, the process has many layers. And to become a successful agent takes years of building a strong portfolio. The basic process to become a real estate agent starts with the training modules organized by Dubai Real Estate Institute (DREI).
Step by Step Guide to Become a Real Estate Agent in Dubai?
Here’s a step-by-step guide on how to become a real estate agent in Dubai specially curated for you:
Step 1: Obtain a Residency Visa (For Foreigners)
The first step you will have to clear to become a real estate agent is to obtain a residency visa.
Any UAE citizen or GCC national can simply sign up for the licensing process. Expatriates, however, must have a valid residency permit to apply for a job as a real estate agent in Dubai. You can either get a work visa from your employer, or a residency visa sponsored by your spouse if they are working in Dubai. You will also need an Emirates ID for the same.
Step 2: Apply for DREI Certified Training
Once your residency visa is ready, it is time to sign up for training with the Dubai Real Estate Institute (DREI). The four-day course known as Certified Training for Real Estate Brokers aims to give the necessary insight into the city’s real estate industry.
This course is approved by the Real Estate Regulatory Agency (RERA), which is the regulatory arm of the Dubai Land Department (DLD). The various modules covered in this course include:
- History and Development
- The Business of a Broker
- Concepts, Definitions, and Market Players
- Sales Processes and Agreements
- Leasing Process and Rental Agreements
- Code of Ethics
- Introduction to Owner’s Associations
- Legal Module
- Essential Skills
You can either take classes online or at the RERA agent registration training center at DLD. In either case, take notes and revisit the materials that you need to.
- Location: Dubai Land Department, Baniyas Road, Deira
- Timings: Sunday to Thursday – 07:30 a.m. to 02:30 p.m.
- Contact: +971-4-203-0456
- Cost: AED 3000
Step 3: Attend the RERA Exam
Once your four-day training is over, you have to appear for a written RERA registration exam. If you are a bachelor’s degree holder, the exam fee is AED 3200, and if you aren’t a degree holder, you will have to pay AED 6300. The exam is easy provided you have studied the contents of the certification course really well.
From the above statement, it is clear that you do not need a bachelor’s degree to become a real estate agent. But of course, having a degree improves your career trajectory in the long run.
Step 4: Obtain Realtor License
Once you clear your exam, you will be eligible to get a realtor license to work as a real estate agent in Dubai. An additional requirement for you to get a realtor’s license is to get a certificate of good conduct.
Once you have met these requirements, the Economic Department will issue you your realtor license and a card. You will receive all your credentials in one or two days after you submit all the necessary documents.
Renewing your realtor’s license one month before its expiry is crucial to avoid penalties by the issuing authority.
How to Renew Your Realtor’s License in Dubai
To renew your realtor’s license, you need to take the RERA agent registration exam once again and score at least 85%. Once you clear your exam, you can complete the renewal process.
If you fail to renew your realtor’s license within the due date, your license can be canceled or you will have to appear for the training course once again.
Documents required for the renewal process:
- Copy of valid passport with the residence permit
- Personal photo
- Certificate of qualification
The renewal fee for your realtor’s license is AED 510.
These are the steps you need to follow if you intend to become a real estate agent/broker/realtor in Dubai. In a nutshell, get a residency visa, apply for DREI-certified training, and appear for the RERA exam. After which you can obtain a realtor’s license if you pass the test.
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