Attention aspiring real estate agents! Dubai’s real estate market is thriving, presenting a prime opportunity to launch your career.
With the end of Q1 2024, the real estate market performed well according to the Market Watch report. There was a 17% hike in year-over-year sales transactions during Q1 2024, reaching 36,200 transactions compared to 31,000 in Q1 2023.
Real estate sales are soaring, with a significant rise in transaction volume at 36,448 deals in Q1 2024 and total value reaching AED 108.2 billion compared to the previous year. This robust growth is fuelled by strong investor confidence and a highly liquid market.
Hence, there is no doubt that Dubai’s real estate is dynamic, prosperous, and brimming with potential for real estate professionals. It is an exciting time to enter the field, so if you have been thinking where to get started? And how to become a real estate agent in Dubai? Then we at CorpCreators are here to help you build a rewarding career in real estate.
How to Become a Real Estate Agent in Dubai: Your Step-by-Step Guide
Ready to launch your career as a real estate agent in Dubai? This guide outlines the process clearly:
1. Secure Your Residency Visa (Expatriates Only)
If you are not a UAE citizen or GCC national, you will need a valid residency visa to work as a real estate agent. You can get one through your employer (work visa) or a spouse working in Dubai (sponsored visa). You will also need to obtain an Emirates ID.
2. Get Trained by the Dubai Real Estate Institute (DREI)
With your visa sorted, enroll in the DREI’s Certified Training for Real Estate Brokers. This is a four-day preparatory course. You can attend this course offered by the Innovation Experts Real Estate Institute (IEREI). This is a DLD and RERA-approved course that equips you with the necessary knowledge of Dubai’s real estate laws, regulations, and best practices.
Modules cover topics like:
- Industry history and development
- Brokerage operations
- Market players and key concepts
- Sales and leasing processes
- Legal aspects
- Essential skills & professional ethics
Choose online classes or attend in person at the DLD’s RERA agent registration center. The course costs AED 3,000.
3. Pass the RERA Exam
After training, put your knowledge to the test with the RERA registration exam. This exam tests your understanding of the legal framework governing Dubai’s real estate industry. Exam fees vary depending on whether you hold a bachelor’s degree or not. Here’s the exam fees vary based on your education level:
- Bachelor’s degree holders: AED 3,200
- Non-bachelor’s degree holders: AED 6,300
- No educational qualifications: AED 15,750
- There’s an additional cost of AED 5,020 charged by RERA for processing all related activities.
The good news? The exam is super manageable if you have diligently studied the course material.
4. Obtain Your Realtor License (Broker's Licence)
Acing the RERA exam unlocks the door to your realtor license (Broker’s Licence)! To finalize this step, you will need a certificate of good conduct. Once you submit all required documents, the Economic Department will issue your official realtor license and card within a couple of days. Remember, timely renewal (one month before expiry) is crucial.
Important Note: Obtaining a Broker’s Licence is mandatory to sell properties in the secondary market (existing properties). Real estate agents selling off-plan properties (new developments) or leasing agents do not require this specific permit. This Broker’s Licence includes a Broker’s Registration Number (BRN). Property seekers can verify your credentials using your BRN on the DLD’s list of registered brokers.
5. Renewing Your Dubai Real Estate License
Your Dubai real estate license (Broker’s License) is valid for a year. Renewing it online through Trakheesi keeps you operating smoothly. Here’s a quick guide:
- Renewal: Do it online before expiry to avoid penalties (like retaking the training course).
- What you need: Just a copy of your valid passport and UAE residence permit (plus a small AED 510 fee).
- Changing Agencies? Cancel your current license and apply for a new one after your visa update with the new agency. Don’t forget to submit proof of cancellation to get your new license and BRN (Broker Registration Number).
Connect With CorpCreators to Become a Real Estate Agent in Dubai:
Congratulations on your decision to pursue a rewarding career as a real estate agent in Dubai’s dynamic market! At CorpCreators, we understand the excitement and may also see the potential hurdles you might face, especially when it comes to the legalities and paperwork involved.
Here’s how CorpCreators can be your partner in making your real estate dream a reality:
1. Visa Secured, Stress Reduced:
Obtaining a residency visa is the first step for aspiring expat agents. Our business setup consultants in UAE expertise in navigating visa applications can save you time and ensure everything is submitted correctly, minimizing delays and keeping you focused on your goals.
2. Company Formation Made Easy:
Thinking of starting your real estate agency? Real estate company formation in UAE can be a more rewarding decision. We can handle the entire company registration process. From choosing the right legal structure, and bank account opening in UAE to completing forms and securing licenses, we will guide you every step of the way.
3. Documents Organized, Worries Minimized:
The licensing process requires collecting and submitting various documents. Our dedicated team will ensure all required documents are gathered, formatted correctly, and submitted to the relevant authorities on your behalf. This streamlines the process and gives you peace of mind.
4. Local Knowledge, Global Standards:
We have in-depth knowledge of Dubai’s business environment, including regulations specific to real estate agents. We will keep you informed of any updates or changes that might affect your license or practice, ensuring you stay compliant and focused on success.
CorpCreators is more than just a business setup company. We are your trusted advisor, here to empower you on your journey to becoming a successful real estate agent in Dubai.
Let us handle the administrative side of things, so you can focus on what truly matters – building your skills, securing clients, and thriving in this exciting market.
Get in touch with CorpCreators today – we are here to turn your real estate ambitions into reality!
