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Brokers now need to take a test administered by the Dubai Real Estate Institution (DREI), the educational arm of the Real Estate Regulatory Agency (Rera), to renew their real estate brokerage licence.
The move is part of the Dubai Land Department's (DLD) efforts to ensure brokers are fully equipped and prepared to serve real estate clients and guarantee a high level of efficiency and professionalism.
The Real Estate Licensing Department of Rera requires brokers to register and apply for the test one month before their brokerage licence expires. If brokers fail to register for the test during the prescribed period, they will be required to take a course as a prerequisite for licence renewal.
Rera, the regulatory authority of the DLD, also announced that it will cancel licences that are expired for six months or more.
A registration fee of Dh700 will be charged to take the real estate brokerage licence test, while the Real Estate Certified Training for Brokers costs Dh2,500. Registration for the test and course can be done through the DREI website www.drei.ae.
Source: Property Weekly