Dubai’s real estate market registered 22, 779 transactions worth AED 72.5 billion during the first half of this year despite the impact of Corona virus.
‘Green List’ will also save property owners from cold calls.
The Dubai Land Department (DLD) has launched a 'Green List' on its Dubai Rest digital platform that will allow only registered brokers to communicate with property owners when they enroll in the list.
Owners can opt to deactivate their accounts anytime they want. This service will facilitate healthy communication between brokers and owners and reduce the number of complaints of some real estate brokers reaching out to the owners, without their consent.
The new service will reduce violations related to direct marketing, as it opens additional marketing channels for companies, which ultimately leads to an increase in the rate of real estate transactions and rental of vacant properties, thereby serving the owners, tenants, and the brokers.
"Dubai Rest is the platform through which all real estate services are performed by property owners, tenants, real estate brokers, developers, real estate valuators, investors and all beneficiaries of the real estate market," said Ali Abdulla Al Ali, director of the Real Estate Licensing Department at the Real Estate Regulatory Authority (RERA).
"Since the Green List will directly link the owners to brokers, it also provides a flexible and transparent communication channel to enhance relations between both parties and achieve mutually beneficial results in a cost-effective manner. We hope that this project will help stimulate real estate transactions and enable the investor and the owner to make real estate transactions decisions through an integrated set of digital procedures," Ali added.
Dubai's real estate market registered 22,779 transactions worth Dh72.5 billion during the first half of this year despite the impact of Corona virus on the sector and overall economy. About 7,834 transactions worth Dh24.5 billion were recorded during the second quarter.
This initiative was hailed as property owners will be saved from "cold calls" but called for awareness and marketing of this initiative so that more landlords will use it.
The new service will regulate the relationship between land owners and brokers. It is really a good initiative. Landlords need to comply with it and help the DLD by using enrolling on this app. The DLD can only build the platform but it has to be used by land owners to work. In addition, there has to be a lot of awareness, promotion and marketing so that land owners are aware of it on how to use it.
In conclusion, there is a great advantage for land lords that they are connected only to certified brokers who are fully compliant with rules and regulations of the RERA and the DLD. They will get a smaller number of cold calls on daily basis about sale or rent of their property.