Dubai real estate agents ordered to remove fake property ads – What’s On Dubai
Failure to do so will result in a fine of Dhs50,000…
If you’re looking for a home, expect to see some changes to the online advertisements you come across. RERA (Real Estate Regulatory Agency) is clamping down on brokers to tighten up on property advertisements.
For off-plan sales promotions, real estate agents have been warned that the entire project – not just individual units – must be advertised. RERA has stated that advertising specific properties is a violation of the type of permit that is issued to brokers.
Buy/sell, rent/lease residential &
commercials real estate properties.
The authority has informed brokers that ads in breach of RERA rules must be removed from property portals within five days. Failure to do so will result in a fine of Dhs50,000. The broker found in violation, will also be suspended for up to three months.
In an interview with Gulf News, Firas Al Msaddi, CEO of fam Properties stated, ‘Developers in Dubai are now required to provide specific details including property number, size, and price when issuing No Objection Certificates (NOCs) for advertising to estate agents. These details must be used by brokers to obtain advertising permits from RERA before any online promotion can commence.’
*RERA rent calculator reset in Dubai: What does this mean for you?*
RERA is also tracking down on duplicate and fake property advertisements online. In February, it issued a decree to brokers to remove property ads once said property is sold or rented out. The move will help remove fake or multiple listings relating to Dubai freehold properties online, thus reducing clutter.
The new rule also mandates that one agency take on all responsibilities for the project, rather than sub-contracting different units to several other agencies
At the time, the authority noted that it was impacting the levels of transparency that needed to be maintained by all stakeholders in the Dubai property market. Competition from unverified property listings will be reduced and there will be more accuracy to note trends in pricing.
Images: Getty Images
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