HIGHLIGHTS
- What Are Real Estate Advertisement Regulations and When Were They Released?
- What Should the Real Estate Advertiser Have?
- Steps to Issue an Authorization Number
- Steps to Issue the Advertiser’s Number
The Real Estate General Authority helped many property seekers and the ones who work in the real estate field to keep up with real estate market.
Now, they heavily depend on the online real estate platforms and social media as a way to present their properties, or as a quest for properties that suit their needs.
Given the digital transformation that the kingdom of Saudi Arabia is witnessing and striving for, the reliance on traditional marketing methods have decreased, and shifted towards E-marketing as a primary marketing method for individuals and institutions, in the real estate sector and other sectors, considering Rega Saudi Arabia as a main platform for advertisers.
Internet advertisements and commercials have recently become one of the most important connection tools between the advertiser and the seeker of a property in the real estate sector. That’s by following real estate general authority regulations.
In order to attract a large number of interested people in real estate, whether from inside the kingdom or not, it allows the advertiser to professionally present his/her property on the real estate marketing platforms effortlessly, within a short period of time;
Including full illustration of the property details, location, and its advantages, which will make it easier to sell, therefore, it will provide the seeker/buyer an easy search for the requested property due to having many options and offers in which he/she can choose faster, also a chance to compare based on what’s more suitable and needed.
Hereafter, we are going to explain the regulation of real estate advertisements that were given by real estate general authority which includes the advertiser’s characteristics and the advertisement’s way on the online platforms, along with the consequential infractions if the advertisers violated REGA regulations.
What Are Real Estate Advertisement Regulations and When Were They Released?
The Real Estate General Authority has issued several policies for the benefit of workers in the real estate sector, whether they are individuals, real estate institutions, or property seekers, these policies shall maintain and protect clients’ rights in the real estate sector in order to raise and enhance transparency of the sector, and maintain its sustainability.
One of the most important aims that came in this regard is to raise the performance efficiency of the sector and its clients is to make it an attractive sector for investments, thence, may provide more future opportunities for its employees.
These regulations issued on 10/22/1442 AH corresponding to June second of 2021.
These regulations should be be implemented after 90 days from the date of their publication in the Official Gazette.
What Should the Real Estate Advertiser Have?
- The advertiser nationality should only be Saudi
- Advertiser registration should be done through IAM service (Nafaz National Platform)
- The advertiser must be the owner of the property (an agent of the owner under a legal agency, authorized for the property by the owner, or a holder of a self-employment certification).
- The advertiser should be a realtor under the authorization of the Real Estate General Authority.
- A real estate marketer approved by the General Real Estate Authority.
- A legal person licensed to practice real estate activity in the Kingdom.
When you publish a real estate advertisement, you must abide by several things; such as honesty and integrity, avoiding everything that may cause confusion or mislead the public.
And ensuring the accuracy of real estate information before publishing, in order to contribute to raising the level of transparency between the advertiser and the real estate searcher, while increasing the reliability among dealers/clients to ensure the achievement of the advertiser’s goals and the property searcher desires.
As for the required data that will be presented in the online real estate marketing platforms, it must be built under the new following real estate regulations, which are:
Ensure That the Real Estate Advertisement Contains the Following Information:
- Authorization number for the advertisement
- Advertiser license number (advertiser number)
- Text on being an advertisement
- Determine its purpose (selling, renting, investing, etc.)
- Specify the type of property offered
- Description of the property (type, age, frontage of the property, width of the street on which it is located, and others)
- The location of the property, indicating that (city, neighborhood, project number if found)
- Effective means of communication with the advertiser
- Disclosure of real estate information according to the following:
- The ongoing disputation regarding the property (if existed)
- Mortgage or restriction that limits the disposal or the use of real estate
- Rights and obligations over real estate that are not documented in an advertised document
- Related Rega services to the real estate
- Information that may affect the property, whether reducing its value or affecting the target’s decision to advertise
- The requested price of the property
- Delete the advertisement immediately after selling it, or a maximum of two days after the sale
Steps to Issue an Authorization Number
- Visit the Real Estate General Authority website
- Click on the e-services tab
- Then “Real Estate services”
- Then log in through the “IAM Access Service” (Nafaz)
- Create an authorization for the second party by selecting the authorization service, and then selecting “Create authorization”
- Enter authorization information
- Add property information, by specifying its location and type.
- Agree to acknowledge and pledge to abide by the regulations of real estate advertising
- Lastly, choose “Send”
Steps to Issue the Advertiser’s Number
- Open the Real Estate General Authority website
- Choose E-services tab
- Click on “Real Estate Services”
- Then log in through the “IAM Access Service” (Nafaz)
- Choose “Advertiser Registration” and then choose “Individual” or “Real Estate Institution”
- Agree to acknowledge and pledge to abide by the regulations of real estate advertising
- Lastly, choose “Send”
After ensuring of adding all the mentioned real estate advertisement information, whether you were an individual or a real estate institution;
you will have the ability to publish the advertisement on the E-marketing certified platforms, including the necessary required licenses, according to the regulations and controls issued by the Real Estate General Authority.
As for non-compliance with the regulations issued, this exposes the advertiser to legal violations and refers him/her to the competent authorities to take legal actions against him/her.
The advertisements of government agencies and advertisements for sale on the map are excluded by The General Real Estate Authority.
You can Find an Agency and read more on our website Bayut KSA.
