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An Arab woman was conned out of Dh1.3 million by an Arab man claiming to be a property agent in Dubai. In a second case, an Asian woman paid Dh400,000 for two apartments to an Arab woman posing as a property agent in Dubai. Investors can take comfort that in both cases, the perpetrators were arrested.

With literally billions of dollars moving through the hands of property agents in Dubai every year, there are bound to be some unscrupulous elements. However, the government has instituted several strictures on property agents in Dubai to eliminate these cases. One of the most important of these is RERA: the Real Estate Regulatory Agency which vets all prospective property agents in Dubai thoroughly. Investors are advised to ensure that their property agents and developers are registered with RERA.

The primary role of RERA is the granting of licenses and regulating of property agents in Dubai. It is also charged with supervising the escrow accounts which were introduced recently to protect buyer’s funds. To reign in rogue property agents in Dubai, RERA has also mandated that all advertisements need clearance.

To ensure fruitful engagement with property agents in Dubai one should clear the rules of the deal. For example who pays the brokerage and other costs of your property agents in Dubai. One should also be aware of the services that property agents in Dubai provide. A good real estate agent in Dubai can be helpful not only in selecting the right property, but also to provide insights to local real estate regulations and pruning down additional costs. When well managed your relationship with your property agents in Dubai can be a good investment.

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