What is RERA (Real Estate Regulatory Agency) exam?
One of the most critical steps that you need to take to become a certified real estate broker is to pass the RERA (Real Estate Regulatory Agency) exam. With all the advances this field is witnessing in Dubai and all the blooming opportunities it offers, more and more people are taking this exam to make it in the real estate industry. If you are one of those people, you might wonder what this exam is, how to pass it, and what it constitutes. You can find answers to all these questions and more in our article.
RERA examination: How to get certified as a real estate agent in Dubai
The Dubai Land Department (DLD) administers this exam. After getting certified by the Dubai Real Estate Institute (DREI), you must take the RERA examination. This examination is one of the prerequisites to becoming a real estate agent in Dubai. The exam tests your understanding of Dubai’s real estate rules and laws. To pass the examination, you need to get around 70%. The exam is often held at various centres that you can choose from and consists of multiple-choice questions. Once you pass the exam, you get the RERA certificate. However, this certificate is valid for only two years, after which you need to renew it by sitting for the exam again.
How do I apply for the RERA exam?
Now that you know how important it is to get the RERA certificate, we provide you with a detailed list that tells you how to apply for this exam.
1. Check your eligibility
As with most exams, you must check if you are qualified to sit for the RERA exam. When it comes to the RERA exam, the requirements you need to qualify are straightforward: you must have finished high school at least and passed a background check.
2. Register with the Dubai Land Department
Once you make sure you are eligible to take the course, you should register with DLD, the Dubai Land Department. Registering there will grant you a unique user ID.
3. Submit your required documents
After getting your ID, ensure you have all the documents ready. You will need a copy of your high school certificate, or equivalent, a copy of your passport and Emirate ID, and a new passport-size photo.
4. Pay the examination fees.
Now, you can pay the fees needed to take the exam and start studying.
What to study when preparing to take the RERA exam?
You have registered, paid the required fees, and submitted all the necessary documents. It is time now to start studying and preparing for your exam. To make sure you pass the exam, you should prepare the following:
1. The regulations and laws of real estate in Dubai
As mentioned, this exam aims to test your understanding of Dubai’s real estate rules and regulations. To demonstrate such knowledge, you must review the latest regulations, especially those related to property registration, transactions, and disputes. Having a good understanding of the rules and regulations will be of great benefit to you. Your work as a real estate agent will focus on all such factors.
2. Study the market of real estate
Viewing the latest trends in the real estate markets is also essential. What we mean by that is to familiarize yourself with the types of properties available at the time and their prices. Moreover, get a general idea about the factors that affect the market and the likely and potential future trends.
3. Study the ethical practices of real estate
Understanding the real estate agent code of conduct is essential. Study the guidelines for advertising to clients, providing them with information, and the rules for handling client money.
4. Review basic financial concepts
It would be best if you were thorough with the basics of property pricing, mortgages, property appraisals, and other financial concepts in this industry. It would help if you prepared well for this, as the exam will ask questions about all these issues.
5. The provisions of the Real Estate Regulation and Development Act (RERA):
Understanding RERA’s goals and guiding principles, the duties and rights of diverse stakeholders, and the authority and responsibility of the RERA authorities are all part of this.
Once you finish studying the materials, you are ready to sit for your exam and achieve your dream of becoming a real estate agent. Have you taken this exam recently? If you have, share your experience with the readers, who might find important tips in your comment. But, as is always the case, we cannot wait to hear about your experiences.