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RE/MAX Abu Dhabi ready to lead UAE property brokerage market

United Arab Emirates: Monday, May 12 - 2008 @ 11:19

The certificate obtained by its CEO comes at a time when the company is bolstering its position in the local market.

It also meets the new directives of the UAE government that seek to regulate the real estate brokerage industry which became an essential component to promote the selling and buying transactions in the real estate sector in the past five years.

“The real estate brokerage is now surrounded with a lot of question marks in the local market because it is widely practiced by many unqualified people. This has created a lot of chaos in the market, resulting in increased prices due to the accumulation of brokers’ commissions in the absence of any standards to assess real estate values and rents and any organization of the selling, buying and leasing transactions,” Dr. Guidoum said.

He went on to stress that, as part of Re/Max Abu Dhabi’s acknowledgement of the importance of the role of qualified real estate brokers and the necessity of training them on the principles of trading in this vital market, the Company has lately partnered with the US Real Estate CyberSpace Society, so as to open a branch for the Society in the UAE Capital, Abu Dhabi.

In order to bring national Cyberspace networking support to real estate professionals in this area. By utilizing the wide reach of the Internet, society members bring additional value to the clients they serve.

Dr. Guidoum was elected President for the new UAE branch.

Based in Boston, Massachusetts, the Real Estate CyberSpace Society has more than 9000 members representing 120 real estate brokerage associations inside and outside the United States. It is the best online society specialized in training human resources on real estate brokerage.

The Society’s Abu Dhabi branch will start its operation very soon, seeking to activate electronic real estate transactions in the UAE and to habilitate human resources to work in the vital sector.

This will be a positive step to support the real estate sector which becomes one of the most vibrant sectors in the Gulf states, including the UAE, and to restrict this activity to well qualified and certified professionals, as is commonly the case in western countries.

With a total projects’ value of more than Dhs500bn, the UAE real estate sector is now considered one of the most active and quickly growing sectors in the country.

This makes it necessary to qualify specialized professionals in the near future. This is exactly what the new society is trying to achieve, so as to cater for the needs of the real estate market and provide it with qualified professionals.

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Monday, May 12- 2008 @ 11:19 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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