According To Agents, In Some Circumstances, Even Property Owners Require Pre-Approvals Before Giving Viewings.
Property agents in Dubai are being requested to obtain pre-approvals. Whenever they bring a client to examine properties held by one of the city’s largest developers. Their concern is that even if a few other developers follow suit. It could substantially harm their chances of gaining clients.
“The majority of clients do not want to wait for us to gain approval from the developer’s OS and just cancel the viewings,” stated Elena Timchenko, from Royal Home Real Estate. “Often, clients are already present and do not want to wait days for someone to authorize whether or not they can view the property.” Some in the business claim that in order to bring someone in for a viewing. Not only do estate agents who are representing a specific home in the building need to complete the same paperwork.
If a No-Objection Certificate (NOC) need only once for a specific broker, that would have been acceptable. Contrary to what is actually happening, the OA management company in question demands the same documentation clear every time a unit within one of their complexes needs to view.
In place of any viewings, we must complete a mountain of documentation because this approach follows consistently. Demand for a NOC from an owner or broker is a blatant infraction of the freehold idea. Especially for owners and all licensing principles for brokers. RERA and the DED (Department of Economic Development) have granted us licenses to do our business.
Who Else Will Follow Suit?
Property agents in Dubai claim that as of right now, only one major developer is putting such demands forth. However, some in the sector think that it might soon become a requirement in other people’s buildings. The developer’s own property Services Company will use to sell or rent the property, according to an estate agent. It does not create an equal playing field. A source close to developer claims, source close to the developer claims, that A NOC requirement does take into account the other owners or tenants of the property. It is not denying service to licensed brokers; rather, it is just intending to streamline the viewing operations. A similar procedure uses in other famous real estate markets.
As more newcomers choose to live in the city, purchasing and lease activity in Dubai has continued to maintain levels throughout the summer. When the new season begins in earnest in September, the process will not really pick up until then. Property agents in Dubai will be expecting that NOCs preparatory to viewings will restrict to just a few developers and their towers…