Real Estate Broker: A Vital Role in the Rental Market

Blog

Real Estate Broker: A Vital Role in the Rental Market

December 15, 2024

The real estate broker is an essential part of the rental process, playing a vital role in developing and organizing the real estate rental sector. To ensure success in this field, it is crucial to understand all aspects of real estate brokerage. In this article, we will review the most important steps for anyone wishing to enter the rental market in the Kingdom of Saudi Arabia.

Who is the Real Estate Broker?

A real estate broker is an individual or licensed company that has valid commercial registration and specializes in the leasing and management of properties. These offices or companies must be wholly owned by a Saudi individual or company and operate under a “FAL” license from the General Authority for Real Estate..

FAL Real Estate License

The FAL license is an official document issued by the General Authority for Real Estate, allowing individuals and entities to practice the activities specified in the license, such as brokerage and real estate marketing. The FAL license enables the real estate broker to finalize transactions between different parties in exchange for a commission, in addition to marketing properties through various advertising means.

How to Obtain a FAL License

Access the electronic services of the General Authority for Real Estate.
Choose the role of “Individual Broker” or “Entity Broker.”
Go to the “Licenses” page.
Click on “Create a New License.”
Select “FAL License for Brokerage and Marketing.”
Click on “Verify Eligibility.”
Issue the license.

What After Obtaining the License?

Register the Business Activity: You must legally register your company or business activity and obtain the necessary permits.
Develop a Business Plan: Create a clear business plan that includes your goals and marketing strategies.
Build a Network: Connect with real estate developers and investors to establish strong relationships.
Market Your Services: Use social media and websites to promote your real estate ads.
Provide Professional Services: Offer accurate real estate consulting and reliable market information.
Follow Market Developments: Continuously monitor real estate market news and regulations to ensure compliance.
Enhance Your Skills: Continue learning through training courses and workshops provided by accredited entities.

How Can You Work with Rize as a Real Estate Broker?

You can join the Rize Real Estate Brokerage Program, a partnership initiative aimed at increasing customer awareness of the “Rent Now, Pay Later“ product and completing successful transactions that enable customers to benefit from this service.

At Rize, we look forward to working with brokers who can help us attract property owners interested in our product, allowing brokers to earn additional income while growing their businesses.

Advantages of the Rize Real Estate Broker Program

Opportunity to earn a higher commission from each rental transaction.
Increase the broker’s sales by providing a monthly payment option through Rize.
Automate the rental process through the app and finalize contracts.
Benefit from free marketing through the Rize platform and paid marketing campaigns.
Collection and follow-up of payments.

Steps to Follow

Submit the Application: Fill out the form with basic information about your business, including your name, address, and license number. You can fill out the form here
Training by the Rize Team: Receive training on how to use the real estate broker program page as a means to increase sales and marketing.
Begin Working as a Rize Partner: After completing all the previous steps, you can start working as a Rize partner.

In conclusion, the real estate brokerage license “FAL” is essential for brokers to operate legally and effectively. This license protects the rights of clients and investors, ensuring transparency and integrity in the real estate market. By following the steps mentioned, you can enhance your chances of success in the real estate marketing field.