Dubai Real Estate Fake Listing Deadline: Agents Must Remove Fraudulent Ads or Face Fines
Real estate listings in Dubai with the Trakheesi QR code can help buyers and renters verify the listing’s authenticity.
On Wednesday, the Dubai Land Department (DLD) ordered real estate agents to remove all fake property listings online within 3 working days, else they would face fines.
The announcement was made following investigations conducted by the Real Estate Regulatory Agency (RERA), a significant number of properties that were inaccurately listed as available for sale or rent have been identified within online listings.
“We wholeheartedly support this renewed attention from the DLD. The process of a buyer or tenant verifying that a real estate listing is genuine is quite simple. They will need to go onto a property portal, to find the Trakheesi QR code alongside the property description,” Kelly said.
The Trakheesi system focuses on managing various processes related to real estate licenses, permits, and the issuance of professional cards for individuals working in the real estate industry.
The need for a QR code to be featured on a print or audiovisual advertisement came into effect on April 24, 2023 to allow customers to easily verify the advertisement’s authenticity and validity, following its RERA approval.
“They can scan the Trakheesi QR code or click on the link attached to the code to access the property verification,” Kelly explained adding that the first step for an agent to advertise a property is to get a Form A signed by the seller.
“This is a listing form generated via the Dubai REST application, which links directly back to the Dubai Land Department (DLD).
To be able to generate a Form A, an agent needs to hold a RERA (Real Estate Regulatory Agency) license, so a buyer or tenant will have the comfort that both the property and the agent is licensed. The Form A will then be shared with the seller for digital signature,” he said.
Following this, the agency’s team uploads images, videos and other advertisement content after which the listing is published only for buyers to view.
Benefits of the new DLD order for real estate agents
The new order by the DLD is part of the authority’s efforts to tighten rules on real estate advertising in the city.
Last week, the Real Estate Regulatory Agency fined 30 real estate companies for not complying with the terms and conditions of real estate advertisements.
These regulations aim to govern advertisements and prevent unethical practices in the industry, with additional benefits, according to Kelly.
For buyers, the new order “prevents fraud and scams as it ensures you deal with licensed agents/agencies and real properties. In addition, it also provides peace of mind as it provides transparency and builds trust throughout the buying process. Moreover, it also helps avoid legal issues by guaranteeing that you are complying with DLD regulations.”
For sellers, “[the new order] showcases transparency by attracting potential buyers with trust and confidence that property sales listings are genuine and correct. Moreover, the compliance with regulations ensures that you adhere to DLD requirements and avoid penalties.”
