If you wish to earn a substantial amount of money via your passion, hard work, and commitment to the profession, there may be no other job available then a real estate agent. A real estate brokerage license Dubai is required to work in this sector.
Inside This blog
- real estate brokerage license in Dubai
- Education qulification for real estate broker
- Salary of real estate broker in United Arab Emirates
- Dubai Real Estate Institute (DREI) training
- how to become real estate agent in Dubai?
A real estate agent in Dubai can be anyone who has good communication, marketing, and technical skills to close a deal.
You can apply for a real estate agent license in Dubai regardless of nationality or religious beliefs; however, not everyone who has the license can work in this field.
Before we get into the brokerage license in Dubai, let me clarify some additional things that people should know before applying for a real estate broker license in Dubai.
What is the qualification required for a real estate agent?
There are no educational requirements for real estate agents in Dubai. If you can bring the business to the brokerage firm, they will pay you the commission and provide you with a work identity.
A bachelor’s degree in a related field, on the other hand, allows you to understand the market process faster than people who have not studied.
How much does a real estate agent make in Dubai?
Real estate brokerage businesses in Dubai have their own policies for hiring agents. Some organizations provide basic salaries, bonuses, and commissions; however, most organizations do not provide monthly pay, therefore you must rely entirely on commissions generated by the old and new businesses you have given to the company.
However, your income is determined by your knowledge and experience in the Dubai real estate business. Regularly connecting with customers and analyzing their needs can add a new portfolio to your revenue.
The typical monthly salary for a real estate agent in Dubai ranges from AED 9000 to AED 30,000. The more business you add the more commission you will generate.
Now, let’s go over the entire process of becoming a real estate broker in Dubai. Individuals interested in becoming agents must meet the following requirements:
Obtain a residency visa;
If you are a UAE national, you can work anywhere in any type of job without restriction, however, ex-pats must get a residency visa to work and do business.
The individuals who are working in other organizations and have the residency visa, if you are relatives of UAE residents can get the residency visa sponsored by them.
Some real estate brokerage firms may even give you a residency visa if they hire you as an agent.
2. Get the training
The majority of brokerage businesses provide new employees with in-house training to improve their understanding of the company’s history, business policies, and Dubai’s real estate market.
Dubai Real Estate Institute (DREI) provides a second necessary training course for new brokers. The objective of the four-day course is to introduce participants to regional real estate industries.
This training is certified by the Real Estate Regulatory Authority (RERA) which is the regulatory body of the Dubai Land Department.
The current DREI training fee is AED 3000. The company which has hired you can bear the cost if not you may respond.
3. Take the exam at RERA
RERA representatives will conduct the test once you have completed the training. This test evaluates participants’ knowledge of national and regional real estate industries.
All the question comes from the DREI course so it is very important for you to pay full attention to detail while in the class.
The test is also not free, If you have a bachelor’s degree, the test will cost you or your organization AED 3200. The charge will climb to AED 6200 if you do not have a bachelor’s degree.
4. Apply for the license
When you pass the exam, the next step is to apply for a realtor license. Once you submit your application with all of the necessary paperwork, the economic department will issue you the card within two days.
The realtor license is only valid for one year, and you must renew it by taking the exam and passing it with an 85% score. To avoid penalties, you must apply for renewal at RERA before the month of expiration.
The renewal fee for a real estate broker license Dubai is AED 510. You must pay it every year, but first, you must pass the license renewal exam.
The process of obtaining a Real Estate Brokerage license in Dubai is simple. Although it is slightly more expensive than other professional training offered by the Dubai government you can earn all the expenses with only one deal if you are able to make it complete.