Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

UAE- Real Estate Regulatory Agency repeats telemarketer warning  Join our daily free Newsletter

MENAFN - Khaleej Times - 03/06/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) The real estate regulatory agency or rera the regulatory arm of the dubai land department on monday warned real estate brokers against unauthorised direct telemarketing.

this is the second time since october 2013 that the rera has warned brokers who are making hefty commissions on property transactions against the practice of unsolicited telemarketing service.

a broker violating the rule is first given a warning letter and those repeating the offence face a fine of dh50000.

the latest warning comes after the agency received complaints from property owners and developers who have been contacted by third parties promoting their marketing services for properties that are not even put up for sale.

a circular sent by the rera’s real estate inspection division to all registered property brokers in dubai pointed out that the practice of uncalled-for telemarketing violated the agency’s rules and regulations.

“the rera is keen to apply the highest standards of transparency in the market and this means both exercising control on transactions and regulating interactions between real estate agents and customers” said yousif al hashimi deputy chief executive of the rera.

“as the regulatory body for dubai’s real estate sector our aim is to ensure that every party undertakes its actions and activities in a professional manner that is consistent with the agency’s laws and principles” he added.

in the first 10 months of 2013 dubai’s real estate brokers reportedly achieved commissions totalling dh1.4 billion according to figures released by agency. the figure covers the standard two per cent commissions that real estate brokers received from individuals and companies registered with the rera. the total value of real estate transactions recorded in dubai exceeded dh 236 billion in 2013 as total deals surged 53 per cent to 63652.

the instruction from the rera came in the form of an official letter written by the organisation’s real estate inspection department which was sent out to all registered property brokers in dubai. the letter informed the recipients that the practice of direct telemarketing violates the rera’s rules and regulations.

the agency decided to take action following an increase in “cold” calls to customers with telemarketers apparently trying new ways to get around the existing rules that ban the practice. it was brought to the organisation’s attention that some real estate brokers are claiming a tenuous connection with owners during such calls in an attempt to legitimise their enquiries about their property. the rera used their official notice to remind the brokers that unsolicited calls of any nature were against the department’s regulations.

the letter further stated that the calls cause annoyance and are particularly distressing for those who have not advertised their property for sale. it stipulated that brokers were not allowed to cause inconvenience to property owners by using such unprofessional tactics and warned them that they would face sanctions if they didn’t desist from the practice.

“we investigated this issue through the real estate inspection department and after looking at the complaints in detail sent a further warning letter to 20 real estate offices in dubai. this action was taken because the offices in question were clearly violating the instructions issued by the rera especially in systems relating to the marketing of services and the non-renewal of brokers’ cards which are a mandatory requirement for their activities” said al hashimi.

“fines of dh50000 were also imposed against three offices after they were found to be repeating practices they had been previously warned about and which breached rera regulations. such infractions included the offices using brokers who were not registered with rera and not supplying brokers’ names and other compulsory information in real estate transactions and correspondence” he added.

— issacjohn?khaleejtimes.com


 






  MENA News Headlines
 Jul 23 2014 - EU calls for immediate end to hostilities in GazaKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The EU Tuesday voiced extreme concern at the continued escalation of violence in Gaza and called for an immediate cessation of the hostilities based on a return ...

 Jul 23 2014 - Int'l press body calls on Israel to end attacks on journalistsKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The International Federation of Journalists (IFJ) Tuesday reiterated its call for Israeli forces to end attacks against journalists and media organisations in ...

 Jul 23 2014 - Palestine- Death toll mounts in Gaza, to over 632 by 7:00 pm local time - spokesmanKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) More people have suffered death and injury in Gaza in the past few hours, as a result of Israeli military attacks, announced a spokesman for the Palestinian ...

 Jul 23 2014 - Military action wont bring stability to Israel - BanKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) United Nations Secretary-General Ban Ki-moon said Tuesday military actions would not bring stability to Israel.Ban said at a joint news conference with Israeli ...

 Jul 23 2014 - Ban confident ongoing diplomatic shuttle diplomacy soon lead to ceasefire in GazaKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Secretary General Ban Ki-moon on Tuesday expressed "hope and belief" that his and other officials' peace missions to the Middle East will lead to an end of the ...

 Jul 23 2014 - Kuwait- Min. Al-Sabeeh dissolves charity, proclaims othersKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Minister of Social Affairs and Labor Hind Al-Sabeeh on Tuesday issued a resolution to dissolve a charity and the proclamation of a number other civil society ...

 Jul 23 2014 - France- Fabius laments Palestinian death toll, says "massacres" are unacceptableKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) French Foreign Minister Laurent Fabius on Tuesday called for "an immediate cease-fire" in Gaza and said that the deaths of more than 600 Palestinians killed by ...

 Jul 23 2014 - MEPs denounce Israeli atrocities in GazaKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The European Parliament's Foreign Affairs Committee Tuesday debated the situation in Gaza with Hughes Mingarelli, Managing Director in the EU foreign service for ...

 Jul 23 2014 - Ban said Gaza conflict root causes should be solvedKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) UN Secretary General Ban Ki-moon said Tuesday root causes of the conflict in Gaza Strip should be solved for good.The situation in Gaza "is unacceptable," Ban ...

 Jul 23 2014 - Kuwait- Info. Min. revokes local newspaper, TV channel licensesKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The Information Ministry has revoked the licenses of local newspaper and TV satellite channel because they did not fully honor them, a ministry official said ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help