Anyone who has their sights set on entering the real estate industry in Dubai has probably heard of the RERA exam, as it is a crucial step that must be completed before one can become a real estate agent in this lucrative market. Examinations always sound daunting, but this blog will break down everything you need to know so that you can prepare effectively!
What Is the RERA Exam?
The Real Estate Regulatory Agency exam or RERA for short, is an essential component of the process in which one becomes a real estate agent in Dubai. It is a mandatory exam if you are seeking to work as a licensed real estate agent in Dubai. Passing this exam will ensure that you are fully aware of the rules, regulations and best practices of the industry in Dubai.
Once you pass this exam, you will be able to obtain a professional license from the Dubai Land Department (DLD). Without this, you will not be able to carry out real estate transactions in a legal manner. It’s important to note that even if you are a practicing real estate agent in another country, passing the RERA exam is essential if you want to do the same work in Dubai.
Who Needs to Take the RERA Exam?
Any person who wants to work in this sector in Dubai must sit for and pass the RERA exam. Some examples are listed below:
A new real estate agent: If you want to start fresh as a real estate agent in Dubai with a new career path in Dubai, you would need to pass this exam.
An experienced agent from another country: It does not matter if you have been working as a real estate agent in your home country. Passing the exam is still essential to work in Dubai.
What Does the Exam Cover?
The content of the RERA exam mainly consists of all the legal, regulatory, and procedural elements of real estate in Dubai. More general sections that focus on the core act of selling or renting properties are also covered in the RERA exam. The key topics covered include:
Laws and regulations: This section will test you on how well you understand the regulations that cover real estate transactions, contracts, and brokerage activities, inclusive of understanding the Dubai Land Department’s (DLD) rules.
Real estate brokerage: You will be tested on the roles and responsibilities associated with being a real estate broker. Further, ethical practices, and the requirements for maintaining a brokerage license will also be covered.
Dubai’s property market: This section will quiz you on some general knowledge about Dubai’s real estate market. Trends, buyer preferences, and how to stay compliant with market regulations will be included.
Contracts and agreements: As a real estate agent, understanding how contracts and lease agreements work are an essential part of the job. Handling of disputes will also be tested.
Code of ethics: This section will ensure that you are well versed in the professional and ethical standards when dealing with clients and colleagues.
Ensure that you are committed to learning the material! If you can stick by everything you need to study, passing the exam will not be an issue.
How to Prepare for the RERA Exam
Now that you have an idea about the contents of the RERA exam and what areas you should be familiar with, let’s get into how you need to prepare for it.
Step 1: Register for the RERA Certification Course
You cannot sit for the RERA exam before finishing the certification course. Dubai Real Estate Institute (DREI) conducts this course and it will cover all the subject matter needed to pass the test. Anyone with any skill level in real estate can complete this course as it has been designed with both newbies and professionals in mind.
This course takes four days to complete and covers the material in a structured manner. Upon completion of the course, you will have a good idea about Dubi’s real estate sector.
Step 2: Review the Study Material
After the course is done, you will need to conduct some self-studying. You can get all the required study material from the Dubai Real Estate Institute. The material has been curated to help you succeed, so study them well.
Top Tips for Studying
- Instead of cramming, break the content into sections and go over them one by one over a period of days. Smaller chunks means the material will stick in your head for longer.
- Take down notes so that you can create your own flashcards of important terms and regulations. This makes revision a breeze.
- You may be able to find some practice tests or quizzes online from others who have passed the exam. It wouldn’t hurt to go through them as well.
- Familiarize yourself with the legal jargon as these make up some of the tricky aspects of the RERA exam.
- The real estate market is dynamic, therefore it is better if you stay updated on the latest laws and regulations. Knowing these updates will help you ace your test.
Step 3: Take the Exam
Once you are ready to sit for the exam, visit the Dubai Land Department as the test can be taken on site.
Here’s what to expect:
Duration: 2 hours
Format: Multiple-choice questions
Passing score: The passing score is 75%
Don’t forget to bring all your required documents to the exam center, including a valid ID and your course completion certificate.
What Happens After You Pass?
Once you pass the RERA exam the Dubai Land Department will issue you with a real estate license which is valid for one year. It gives you the right to work as a real estate agent in Dubai.
Your license must stay active and in order to do so, you need to renew it once a year. All real estate agents and brokers make sure that they do not overlook their professional development in an effort to maintain their knowledge and expertise in the ever-evolving real estate market.
Final Thoughts
Preparing for the RERA exam might seem a bit overwhelming at first, but with the right preparation, it’s totally manageable. All you have to do is:
- Follow the steps above
- Reviewing the materials
- Put in the time to study
And you’ll be well on your way to passing the exam and kickstarting your real estate career in Dubai. And remember, the key is to stay focused, take your time, and approach the exam with confidence. Good luck!
How Can SetHub Help?
If you need any assistance in setting up your real estate company after passing the RERA exam in Dubai, reach out to us at SetHub. We’ve had plenty of real estate clients over the past few years, so we know exactly how to help you with your new journey of becoming a real estate tycoon in Dubai. Schedule a call with us now to hear back in one business hour!
