The Real Estate Regulatory Agency (RERA), the regulatory arm of Land Department (LD) in Dubai started the registration of real estate marketing offers for all real estate brokers in the Emirate of Dubai electronically through “SIMSAR” system. The step is aimed at controlling and further regulating the market and to eliminate the unlicensed brokers’ phenomenon.
Engineer Marwan bin Ghalita, CEO of RERA stated the implementation of SIMSARI will manage and regulate the work of real estate brokers registered in RERA and sell property in a way ensuring the highest level of transparency in terms of binformation of properties offered for sale according to the records of LD and as per the laws and regulations.
SIMSARI enables connectivity to the detailed information of properties as used in brokerage offices and to issue a single and distinct number for each property displayed in the system to prevent repetition and to limit the work of independent brokers by registering the brokerage firms in SIMSARI. The system will guarantee the accuracy of information in the real estate market and update real estate reports.
Yousef Al Hashemi, Senior Director of the RERA’s Real Estate Licensing Department said that SIMSARI is an electronic portal designed specifically to view properties offered for sale or rent in the emirate of Dubai within a safe environment to ensure the validity of the data displayed and preserve the rights of all dealers by respecting contractual relations. He noted that the new system will ensure speed and accuracy of communication between RERA’s registered brokers to benefit from data exchange. SIMSAR also allows access to the largest number of brokers in case investor is looking to sell a property.
SIMSARI will contribute in the promotion of the property among RERA’s listed and qualified brokers, so buyers will be sure that that data about the property offered for sale is correct and is generated through integrative process with LD’s database. The system will be used for sale offers, brokerage activities and for initial sale contracts before parties involved proceed and book a sale appointment through the integrated electronic system. According to Al Hashemi, SIMSARI is now in the second stage and so far 209 brokerage firms have registered in the system. Currently, registered brokered are being trained on how to use SIMSAR.
Users of SIMSARI can cooperate to create their own environment to list information related to property trading in the market in order to market them to a larger number of investors and tenants and to facilitate the process of finding buyers or tenants. Users can search for properties as per their own requirements and then contact the broker working for the owner and can register the contract with immediate agreement options.
SIMSARI is a secure and transparent destination for owners, investors and brokers as it create a legal framework for transactions and contracts in order to safeguard the rights of all parties as per the law. Furthermore, SIMSARI records can be used as a reference in case of disputes.
