Types of RERA Forms in Dubai for property transactions

What are RERA forms in Dubai?

RERA forms in Dubai are standardized documents designed to regulate real estate transactions, ensuring that all parties involved comply with the legal requirements. 

These forms are a requirement for all real estate transactions, ensuring that the same processes are followed for every property sale or rental. There are different types of RERA forms which cover various aspects of property deals, from listing agreements to purchase contracts.

Significance of different types of RERA forms

From maintaining transparency, protecting the interests of all parties, and ensuring that transactions are conducted smoothly, each of the different types of RERA forms play a vital role. 

Here, we provide a detailed list of forms from RERA that are essential for property transactions in Dubai.

Form A – broker’s contract agreement/listing form

Form A, also known as the Broker’s Contract Agreement or Listing Form, is signed between the property owner and the real estate broker. This form authorizes the broker to list and market the property on behalf of the owner.

Without a Form A, the real estate broker will be unable to generate a permit number which allows them to list and market the property. This was a crucial addition to real estate regulation which ensures that brokers must have the owners permission to market the property, removing fake listings from the industry. 

A seller can choose to cancel a Form A prior to receiving an offer if they decide that they no longer wish to work with a real estate broker. This can be done by providing a written notice and executing a Form U, the notice of termination of agreement. 

Whilst there can be a number of benefits to listing a property exclusively with one real estate agent, Dubai’s RERA law allows a seller to work with up to three agents simultaneously. This means that a seller can have up to three active Form A’s at one time. 

Form B – buyer’s agent agreement

Form B is a buyer’s agent agreement, where a buyer engages a qualified RERA-certified agent to find a suitable property based on their needs and financial status. This agreement ensures that the agent works exclusively for the buyer.

If you decide that you wish to buy an apartment, townhouse or villa in Dubai, you may decide to work exclusively with one real estate agent. This way, you can work with someone who takes the time to understand your exact requirements and can help you to shortlist suitable properties. In this case, you would sign a Form B with the real estate agent. 

The buyer’s agent can work with real estate agents from other brokerages by signing a Form I, the agent to agent agreement. 

Buyers can formally terminate a Form B agreement with a 7-day written notice and the execution of a Form U. 

Form I – agent to agent agreement

An efficient real estate market should ensure that agents across the industry can work collaboratively together in a professional manner. For this reason, RERA created the Form I, which is used when two RERA-certified agents agree to work together.

A Form I ensures that both agents' listings and clients are protected and promotes agents working together, regardless of which real estate company they represent. 

For example, one real estate agent is working with a buyer, who wishes to view a property that is listed with another agent. By signing a Form I, the buyer’s agent is protected against the other agent taking their client, and the seller’s agent is protected against either losing the listing, or being cut out of the deal should the buyer wish to proceed with the property. 

Form F – purchase agreement contract

When a seller has agreed to a buyer’s offer to purchase a property, the next stage is to sign a Form F. The Form F is a purchase agreement contract that details the property, price, and terms and conditions of the sale.

When the Form F has been signed by both the buyer and the seller, and witnessed by the agent, it becomes a legally binding contract. 

Form U – notice of termination of agreement

The Form U is used to formally terminate agreements (Form A or Form B) between real estate agents and their clients. This form ensures that terminations are conducted properly and with sufficient notice.

Why are RERA forms important?

RERA forms are a crucial part of ensuring an efficient and transparent real estate market in Dubai. 

The different types of RERA form are essential for standardizing all real estate transactions. This not only ensures the legal compliance of a transaction, but also protects the interests of all parties involved. 

RERA forms help reduce disputes and build trust within the real estate market, allowing buyers, tenants and sellers, as well as real estate developers, to confidently operate within the market. 

Conclusion

Understanding and properly utilizing the different types of RERA forms in Dubai is crucial for anyone involved in property transactions. These forms ensure that all deals are conducted transparently and legally, providing protection and clarity, not only for buyers, sellers and tenants, but also to the real estate brokers and developers that ensure Dubai’s real estate market continues to thrive.