Many realty firms in Abu Dhabi and Dubai have been fined for breaking the law. Websites that feature Dubai real estate are strongly encouraged to link up with the DLD's platform. The purpose of this integration is to verify all listings and remove any false ones.
Enhancing Trust and Efficiency in Real Estate Listings
In Dubai and Abu Dhabi, numerous real estate brokerages have faced fines for breaching local regulations. Websites listing properties in Dubai are being urged to synchronize their systems with the Dubai Land Department (DLD) website.
This integration aims to validate all listings and eradicate fake ones. Haider Khan, CEO of Bayut and Dubizzle Group Mena, emphasized the advantages of linking platforms with the DLD system. Firstly, it enhances trust among property seekers by ensuring the authenticity and accuracy of listings, thus saving time and effort. Secondly, it simplifies the process for real estate agents, allowing them to verify listings directly, reducing the risk of fines and improving the overall experience for agents and clients.
On February 14, 2024, the DLD instructed real estate agents in Dubai to remove unavailable properties from their platforms within three days. Failure to comply resulted in fines of Dh50,000, serving as a deterrent. Several brokerages in both Dubai and Abu Dhabi have already faced penalties for violating local laws.
Meeting Market Demands for Authenticity
Bayut reported a significant reduction in inventory, reflecting its commitment to eliminating inaccurate listings. Paul Kelly, operations director at Allsopp and Allsopp, praised the DLD's initiative to provide live API information for verifying listings and promptly removing sold or rented properties. He highlighted the benefits for property seekers, who now encounter fewer fake listings, making their search easier and more trustworthy. Additionally, property owners benefit from fair exposure in the market, without the distortion caused by fake listings.
There is a growing demand from property buyers for accurate and genuine listing information. Khan stressed the importance of providing authentic details, such as permit numbers, property type, price, and location, to foster trust and integrity in the market. Bayut has been actively engaging with agencies and agents to emphasize the urgency of addressing inaccurate listings.
The integration of property listing platforms with the DLD system aims to enhance transparency, trust, and efficiency in the real estate market of Dubai and Abu Dhabi. By ensuring the authenticity of listings and promptly removing inaccurate ones, stakeholders contribute to a more reliable and credible property market ecosystem.