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As part of a series of developments in the Dubai Land Department (DLD) through its various departments harnessing the power of technology, the Dubai Brokers app was officially launched early in June this year to complement DLD's efforts to make real estate transactions as transparent as possible.
The app, available for free on Google's Play Store and Apple's App Store, features the Top 100 brokers in Dubai ranked based on the number of sale transactions registered to date with DLD. It is considered to be a convenient and powerful tool for buyers, investors and developers who require assistance in choosing from among the 1,050 brokerage firms registered with the Real Estate Regulatory Agency (RERA), the regulatory arm of the DLD.
In a way, the app provides essential information on brokers such as their being registered and duly licenced, and gives an indication of their performance. Taking heed from unfortunate past events, the DLD launching the app is quite important since it is designed to help prevent the occurrence of dubious or questionable transactions.
An article in Gulf News published in June discussing the app states that, ''Tapping into the app, investors can also access brokers' performance levels and check the legal status of real estate offices in which they work, apart from listing the Top 10 and Top 100 brokers. In earlier moves, the Land Department had raised the qualification requirements for brokers to get/renew their credentials.''
The tightening of measures and the strict implementation of requirements in the renewal of brokers' licences is in keeping with DLD's continuous improvement initiatives in the real estate sector – an industry segment that has played an active role in the national economy. In doing so, the DLD has somehow made it clearer and even more important for existing real estate agents to work hard at keeping their track record spotless and their performance stellar, both factors which would inevitably determine which companies will make it through even in the roughest and toughest of times.
• New app provides details of all licenced property brokers working in Dubai
• It helps identify legitimate property brokers and check their performance
• It provides transaction transparency and prevents potential scam or fraud
Source: Claire Dangalan, Special to Properties
The writer is a freelancer