Dubai‘s real estate market is thriving. And if you’re eager to make a name for yourself in the industry, here’s all you need to know about becoming a prolific real estate agent in Dubai. Due to the city’s continued growth in the real estate industry and the fact that it is one of the highest-earning sectors in the UAE, there is a lot of interest in starting a real estate brokerage business there. To start a real estate brokerage in Dubai, you need to obtain a license, then create a business plan, raise funds, and hire agents, just as you would anywhere else on the planet. Read along to know about how to be a real estate agent in Dubai & form your own brokerage in Dubai. 

The Cost of Opening a Real Estate Brokerage License in Dubai Explained

The total cost of establishing a real estate brokerage in Dubai differs according to your specific area and business ventures. A real estate brokerage license is required to open a real estate brokerage in Dubai. To obtain the license, you must pass the Real Estate Regulatory Agency (RERA) registration exam, which is part of the Dubai Land Department and is a government entity that licenses real estate agents, brokers, and developers and governs all real estate operations in Dubai. The exam fee that is included in the expense of starting a real estate brokerage in Dubai varies depending on your educational background!

The applicant’s educational credentials determine the cost of the RERA registration test. The test costs AED 3,200 for those with a bachelor’s degree and AED 6,300 for those who do not have a bachelor’s degree. Applicants who may not have formal academic qualifications must also pay a fee of AED 15,750. Every activity is subject to an AED 5,020 fee levied by RERA.

The next step is to begin the license processing procedure after obtaining a RERA training certificate. A real estate brokerage license for an LLC costs approximately AED 12,950. (LLC). AED 21,000 is the average price of setting up a real estate business in Dubai. This cost may vary significantly depending on the additional activities chosen as well as government levies.

How To Become A Real Estate Agent?

Now that you are excited to enter the real estate market and explore the expansive business opportunities in Dubai, the following steps will help you understand your hurdles:

1. Apply for a Resident Visa (Only For Foreigners)
2. Finish the Certified Real Estate Broker Training
3. Pass the Real Estate Regulatory Authority (RERA) Exam with an 85% score
4. Obtain Your Agent’s License

Following the submission of the required documents, the Dubai Economic Department (DED) will validate you and give you a Broker’s License in a few days. Remember that this license is not perpetual and must be renewed on a regular basis. The renewal fee ranges between 510 and 700 AED.

With A&A Associate backing you, all these steps will be easily done. 

How to start a Real Estate Business in Dubai?

A licensed real estate brokerage company in Dubai can operate as a limited liability company (LLC) or as a sole proprietorship. If there is only one owner for the business, the legal structure of the firm should be sole establishment; however, if the number of shareholders exceeds two, the legal structure of the firm should be LLC, and you will need to establish the company with a local service agent. A limited liability company (LLC) real estate brokerage company can have up to 50 shareholders. 

Starting a real estate business in Dubai can be a wise decision. With all of Dubai’s quality features, one can expect a fruitful business environment.

Nevertheless, before you begin your brokerage in the UAE, you must follow the following principles:

Understand the Real Estate Market of Dubai 

This should be your first step before launching your real estate business. Primarily, you should consider the influence and economic productivity of the location where you intend to establish your business. That is, learn about the Dubai real estate market and identify the most targeted areas on which you can rely. Do not rely solely on online information; instead, conduct extensive research to obtain all of the information you require for your company formation. 

If you need ready answers, contact A&A Associate today itself!

Choose a Business Model

Another critical step in starting a real estate business in Dubai is choosing a business model. You must select a business model that is appropriate for your company. As a result, a business model can be either full ownership, partnership, or LLC.

Register your Business

After you’ve decided on your business activity and business model, you’ll want to register your company in Dubai right away. Similarly, when you’re registering your business, you’ll be forced to come up with an awesome trade name and send all your completed paperwork to the DED in the UAE. Once your documents are verified, you’ll get a license that will help you operate your business in Dubai.

Other procedures you must follow in order for your real estate business to be successful in Dubai are as follows:

• Obtain your business certification
• Apply for additional critical company certifications.
• Purchase a professional office.
• Other services that are appropriate for your business model should be outsourced.

Why Hire A&A Associate for setting up your real estate business in UAE?

The formation of a real estate brokerage firm in Dubai necessitates the completion of a large number of transactions. There have been reports of foreign investors fleeing with large sums of money or abusing their investment license. As a result, a UAE citizen is granted 100 per cent ownership in order to maintain complete control.

The process of a real estate brokerage company in Dubai is formulated in such a way as to keep the interests of the investors. The Emirati is given complete ownership, and the investor is named as the company’s manager. The company gives the investor complete authority over the company’s affairs. Furthermore, the investor will receive full operational rights of the company, with complete control of the company reassigned to the investor via necessary documentation.

A&A Associate has a fine reputation for setting up real estate brokerage in Dubai and we can arrange reputed Emiratis for this purpose. Every step from the shareholder details, Name, Initial approval, RERA approval, Police clearance certificate, and Signing agreement, to the issuance of trade license, our team of experts will guide and assist you to ensure the quickest real estate business setup in Dubai.