This
RERA Training is designed for the agents and brokers to prepare them to
practice real estate sales and leasing brokerage and to pass the Real Estate
Regulatory Agency, RERA Examination to obtain their Real Estate Broker ID cards
and establish Real Estate Brokerage companies. It draws upon contemporary
professional experiences and scholarly expertise in the Real Estate field to
shape an evolving curriculum that propels our students confidently into the dynamic
world of Real Estate.
It
is designed to provide a recognized qualification for real estate agents to
work in Dubai's real estate industry. Students will understand Dubai Market,
gain the ethical standards and skills and abide by the systems and roles in
place that support brokerage business.
Course Objectives
- Provide a mandatory qualification necessary to receive a real estate license.
- Raise the caliber of the profession by educating real estate brokers, developers and investors on best practices and ethical standards of the profession.
- Provide a step-by-step guide to buying, selling and renting properties in Dubai.
- How
to become a successful real estate broker in Dubai and run a profitable Real
Estate Business.
The course, through a series of modules, includes an overview of the following general topics:
- A brief history of developments in Dubai and its governing bodies.
- The role of the industry’s key players, regulators and educators: DLD, RERA & RDC.
- The Dubai legal and regulatory framework relating to Dubai’s real estate industry.
- The registration procedures for developers, property purchasers, sellers and real estate brokers.
- General terms, definitions and principles pertaining to the real estate market.
- The sale and rental processes and their related agreements.
- An introduction to Jointly Owned Properties in Dubai and the related governing laws and regulations.
Module 1: History and Development
The goal of this module is to introduce U.A.E and Dubai Rulers and to provide an insight into some of Dubai’s major real estate developments.
Module 2: The Business
of a Broker
This module provides the brokers with the licensing requirements and serves as an update to brokers on the recent policies and procedures adopted by the governing bodies in respect to:
- Trakheesi System for registered companies.
- Brokerage Offices Ranking System.
- Categories Of Real Estate Broker Cards:
Module 3: Concepts, Definitions and Market Players
In this module we introduce:
- Key market players, regulators and educators with a close look at the roles and functions of Dubai Land Department (DLD), Real Estate Regulatory Agency (RERA), Rental Dispute Center (RDC), and the Special Judicial Committee for the liquidation of cancelled property projects in the Emirate of Dubai.
- The main systems and registers maintained by RERA Property ownership types and key differences between them.
Module 4: Sales Processes and Agreements
This module aims to introduce various sales models while highlighting important aspects of a typical sales process and sales agreements.
The following key terms are discussed:
- Listing agreements and types of listings
- Real estate sales process and cycle.
- The 4 sales models:
- Cash Buyer – Mortgage Free Property sales model.
- Cash Buyer – Mortgaged Property sales model.
- Mortgaged Buyer – Mortgage Free Property sales model.
- Mortgaged Buyer – Mortgaged Property sales model.
- Steps & requirements for a property transfer.
- Important general knowledge pertaining to POA, commission, escrow accounts, deposits, security cheques etc….
Module 5: Leasing Process and Rental Agreements
This module aims to introduce the elements of a lease agreement, Ejari, the concept of short-term leases and tenancy-regulating legislations.
The following processes and concepts are introduced:
- Real estate leasing process and cycle.
- Ejari registration process.
- Elements of a lease agreement.
- Rental Dispute Center (RDC).
- Short-term lease vs. long-term lease
Module 6: Code of Ethics
The module aims to increase awareness amongst real estate brokers regarding the Code of Ethics established to compliment legislation governing the activities of real estate brokers in Dubai. It focuses on ethical responsibilities (The Dos and Don’ts for real estate brokers) and understanding the consequences of misconduct and breaching the Code (Violation and disciplinary action).
Module 7: Jointly Owned Property Ownership
This section of the course provides brokers with important information about procedures and rules relating to jointly owned property ownership and the Mollak system.
Module 8: Legal
Segment
This module focuses on the laws and regulations of the Dubai Real Estate Market. The key topics are:
- Land Register and Interim Land Register
- Trust Accounts
- Broker’s Regulations
- Jointly Owned Property
- Landlord and Tenant
- Powers of Attorney
- Alternative Dispute Resolution
- VAT
- AML and CTF Rules
Module 9: Essential Skills for Brokers
This module provides a venue for the practical application of some concepts covered in the previous modules of this course. It exposes brokers to some methods of client creation, highlights the importance of following a disciplined and an ethical work routine and provides a basic step-by-step real estate transaction through case studies and checklists.
The module will cover:
- Prospecting and lead generation
- Comparative Market analysis
- Real estate financial concepts.
