Real es­tate bro­ker­age with­out li­cence a crime, says Public Pros­e­cu­tion

Muscat Daily - - FRONT PAGE -

The Public Pros­e­cu­tion has cau­tioned un­li­censed real es­tate bro­kers that prac­tis­ing the pro­fes­sion with­out reg­is­tra­tion is a crime pun­ish­able by six months in jail and a fine up to RO3,000.

The Public Pros­e­cu­tion in its aware­ness cre­at­ing tweet stated that the ‘act is crim­i­nal un­der the pro­vi­sions of Ar­ti­cle 19 of the law, which reg­u­lates the work of bro­kers in real es­tate, and ad­dresses both cit­i­zens and res­i­dents’. It added, “The prac­tice of real es­tate bro­ker­age pro­fes­sion with­out a li­cence from the com­pe­tent au­thor­ity is a crime pun­ish­able by im­pris­on­ment for six months and a fine of RO3,000.”

New reg­u­la­tions by the Min­istry of Hous­ing re­gard­ing the im­ple­men­ta­tion of li­cence came into ef­fect from June 1, 2017. As per the reg­u­la­tions, all real es­tate bro­kers in Oman need to reg­is­ter and be­come cer­ti­fied.

Royal De­cree 91/2010 was is­sued amend­ing pro­vi­sions of the law reg­u­lat­ing the work of bro- kers in the real es­tate sec­tor.

Ear­lier, the sec­tor had been plagued with un­scrupu­lous agents who brought a bad name to the Omani real es­tate mar­ket by in­dulging in dis­hon­est deals.

Eng Mo­hammed al Bu­saidi, chair­man of the Oman Real Es­tate As­so­ci­a­tion and a mem­ber of Ma­jlis A’Shura, had told Mus­cat Daily that his or­gan­i­sa­tion has pushed for re­forms. “It (new reg­u­la­tions) will boost in­vest­ments. Ex­pa­tri­ates and GCC in­vestors will now see the mar­ket is or­gan­ised. They can visit the web­site of the Min­istry of Hous­ing and find out who a reg­is­tered bro­ker is.”

Around two years ago, the Min­istry of Hous­ing cre­ated the Direc­torate Gen­eral of Real Es­tate De­vel­op­ment. Then, the dead­line to reg­is­ter as a li­censed bro­ker was is­sued. Any­one of­fer­ing ser­vices with­out a li­cence will be act­ing il­le­gally.

“If he is caught, he can be taken to court,” Eng Bu­saidi said.

Pho­to­graph for il­lus­tra­tive pur­pose only

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