Thinking about starting a real estate business in Dubai? Getting a Real Estate Brokerage License in Dubai is the key to entering this booming market. Dubai’s property scene is growing, with billions of dirhams in transactions each year. With opportunities around every corner, having the proper license ensures you’re ready to dive in and make the most of the booming market.
This guide will explain the process of obtaining your license, from the initial steps to the final approvals. It will also help you confidently start your journey in Dubai’s dynamic real estate landscape.
Why Become a Real Estate Agent in Dubai?
Becoming a real estate agent in Dubai is an excellent career move due to the city’s rapidly growing property market. With a Real Estate Brokerage License in Dubai, you can access a lucrative industry with high demand for luxury homes and innovative buildings.
This license allows you to earn significant commissions and explore various property types. Dubai’s diverse market means you can find your niche and specialise in areas that interest you most. It makes the role both financially rewarding and professionally satisfying.
Additionally, working as a real estate agent in Dubai offers substantial professional growth and global exposure. The industry is constantly evolving, providing opportunities for continuous learning and development.
Combined with Dubai’s high quality of life, vibrant lifestyle, and world-class amenities, a career in real estate here provides a compelling blend of career advancement and personal enjoyment.
Benefits of a Real Estate Agent in Dubai
Dubai’s real estate market is a dynamic and rapidly growing sector. It offers various opportunities for those interested in becoming a real estate agent. Here’s the benefits of a real estate agent in Dubai are as follows:
Growing Market
Dubai is known for its luxurious properties and innovative architectural projects. The demand for real estate services remains strong, driven by local and international investors. As a real estate agent, you can capitalise on this booming market.
High Earning Potential
The real estate sector in Dubai offers lucrative earning potential. Commissions and bonuses can be substantial. With a Real Estate Brokerage License in Dubai, you’ll be well positioned to maximise your earnings.
Diverse Opportunities
Dubai’s real estate market is diverse, ranging from residential to commercial properties. This variety allows agents to explore different niches and find their specific areas of interest.
Global Exposure
Dubai attracts investors and residents from around the world. Working as a real estate agent here gives you global exposure and the chance to build an international network. This can be particularly beneficial if you want to expand your career beyond Dubai.
Supportive Infrastructure
The Dubai government supports the real estate sector with a well-established regulatory framework. Obtaining a Real Estate Brokerage License in Dubai makes sure that you operate within legal parameters and benefit from the sector’s credibility and structure.
Professional Growth
The real estate industry in Dubai is constantly evolving, offering opportunities for continuous learning and professional growth. Agents can participate in industry events, workshops, and training programs to stay updated with the latest trends and technologies.
Once you know the benefits of becoming a real estate agent, the next step is obtaining a Real Estate Brokerage License in Dubai, essential to entering this exciting industry.
Activities you can do under a Real Estate License
The following are activities you can do under a real estate license are mentioned below:
- Leasing & Management of Self-Owned Property
- Real Estate Buying & Selling Brokerage Abroad
- Leasing and Management of Other People’s Property
- Real Estate Consultancy (Outside of UAE)
- Real estate registration agent
- Real estate development
Steps for becoming a Real Estate Agent in Dubai
Starting a career as a real estate agent in Dubai opens the door to endless opportunities in one of the world’s most vibrant and fast-growing property markets.
Step 1: Determine Your Business Structure
First, decide on the type of real estate brokerage you want to establish. This could be a sole proprietorship, partnership, civil company, or LLC.
Each business structure comes with its own legal and financial considerations, so it’s crucial to carefully assess each one’s advantages and disadvantages before deciding.
Step 2: Choose a Trade Name and Obtain Initial Approval
Next, select a trade name that aligns with your brokerage’s brand and meets the Department of Economic Development (DED) guidelines. Once you’ve chosen a name, apply for initial approval from the DED to secure it for your business.
Step 3: Obtain a Residency Visa
To become a real estate agent in Dubai, it is essential to secure a residency visa. UAE and GCC nationals can bypass this step, but expatriates must obtain a valid residency permit.
This can be achieved through a work visa sponsored by an employer or a residency visa through a spouse who is a UAE resident. You will need an Emirates ID and visa to proceed with the licensing process.
Step 4: Complete Certified Training for Real Estate Brokers
Once you have your residency visa, the next step is to complete the Dubai Real Estate Institute (DREI) Certified Training for Real Estate Brokers. This four-day course was approved by the Real Estate Regulatory Agency (RERA) and the Dubai Land Department (DLD). It helps to equip you with essential knowledge of Dubai’s real estate market.
The course covers:
- The history and development of Dubai’s real estate sector
- Key industry concepts, jargon, and market players
- Sales processes, agreements, and legal aspects
- Leasing and rental agreements
- Ethical conduct and behaviour of brokers
- Introduction to Owners’ Associations
- General real estate law and essential skills
Classes are available both in-person and online at the RERA training centre at the DLD office. Make sure to review the material thoroughly to prepare for the next step.
Step 5: Pass the RERA Exam
After completing the DREI training, you must pass the RERA registration exam. The exam fee is AED 3200* for those with a bachelor’s degree and AED 6300* for those without.
While a degree is not required, it can enhance your career prospects. The exam is generally straightforward for those who have prepared well with the training materials.
Step 6: Get Your Realtor License
Upon passing the RERA exam, you can apply for your realtor license. This involves submitting your DREI course completion certificate, proof of passing the RERA exam, and a certificate of good conduct.
Once the Economic Department reviews and approves these documents, you will receive your realtor license and card within a few days. Remember to renew your license at least one month before it expires to avoid any penalties.
Following these steps, you can successfully become a licensed real estate agent in Dubai and begin your career in one of the world’s most vibrant property markets.
How to renew your Real Estate Brokerage License in UAE
Renewing your realtor’s license in Dubai requires retaking the RERA agent registration exam. You must score at least 85% to qualify. Upon passing, you can complete the renewal process smoothly.
It’s essential to renew your license on time. If you miss the deadline, your license may be cancelled, or you could be required to repeat the entire training course.
Documents Needed for Renewal
- A valid passport copy with a residence permit
- A recent personal photo
- Your qualification certificate
By Following these steps, it helps you to stay compliant and continue your career as a licensed real estate agent in Dubai. The process is straightforward: secure a residency visa, complete DREI-certified training, pass the RERA exam, and keep your license up to date.
Dubai Real Estate Brokerage License cost
The cost of starting a real estate brokerage in Dubai can depend on several factors. The costs depend on the size of your business, the location of your office, and the range of services you plan to offer.
On average, the cost to start a real estate brokerage in Dubai can range between AED 12,500 to AED 30,000. However, this estimate can increase if your business is more extensive or requires additional licenses or permits.
Note: The costs mentioned here are approximate and may vary. You should seek expert consultation from a reputable business setup service like Shuraa for precise and up-to-date information. They will guide you to have the proper guidance and support from start to finish.
How Shuraa Business Setup Will Help
Starting a real estate brokerage in Dubai offers tremendous opportunities in a booming market. Obtaining a Real Estate Brokerage License is your gateway to success, ensuring you operate legally and are well-positioned to thrive in the city’s dynamic property sector.
Shuraa Business Setup streamlines obtaining your real estate brokerage license in Dubai. From choosing the proper business structure and securing trade name approvals to handling residency visas, RERA training, and license applications, Shuraa provides end-to-end support.
With Shuraa, you can focus on building your business while they hold the complexities, ensuring a smooth and efficient setup. Contact us today to get your real estate brokerage license in the UAE.