Real Estate General Authority (REGA)headquarters
The Real Estate General Authority (REGA) published draft classification guides for licensed real estate brokerage and marketing firms and licensed real estate auction firms on the Istitlaa public consultation platform, inviting the public, government entities and the private sector to submit their feedback before the guides are adopted. 
The draft guide for real estate brokerage and marketing firms sets out performance assessment criteria, including years of experience, the number and value of real estate transactions covered by brokerage agreements, violations, completed training courses, branches, full-time employees and Saudization rates.
The draft guide for real estate auction firms introduces objective classification criteria based on data covering various aspects of performance. These include years of experience, the number of full-time employees, the share of Saudi employees, the number of auctions held, the number of properties listed in those auctions, the geographical distribution of properties awarded to successful bidders, the award rate for listed properties, the value of properties awarded in completed auctions, and the number of violations.
The draft also establishes five classification tiers, with corresponding benefits and incentives designed to reflect performance levels and encourage licensed firms to pursue continuous improvement.
REGA said the two draft guides are intended to improve the effectiveness of the real estate sector in line with market developments and strengthen the confidence of customers and investors.
The authority called on interested members of the public, government entities and private-sector participants to review the draft guides on the Istitlaa platform and submit their comments and proposals.
Real Estate General Authority (REGA)headquarters
The Real Estate General Authority (REGA) published draft classification guides for licensed real estate brokerage and marketing firms and licensed real estate auction firms on the Istitlaa public consultation platform, inviting the public, government entities and the private sector to submit their feedback before the guides are adopted.
The draft guide for real estate brokerage and marketing firms sets out performance assessment criteria, including years of experience, the number and value of real estate transactions covered by brokerage agreements, violations, completed training courses, branches, full-time employees and Saudization rates.
The draft guide for real estate auction firms introduces objective classification criteria based on data covering various aspects of performance. These include years of experience, the number of full-time employees, the share of Saudi employees, the number of auctions held, the number of properties listed in those auctions, the geographical distribution of properties awarded to successful bidders, the award rate for listed properties, the value of properties awarded in completed auctions, and the number of violations.
The draft also establishes five classification tiers, with corresponding benefits and incentives designed to reflect performance levels and encourage licensed firms to pursue continuous improvement.
REGA said the two draft guides are intended to improve the effectiveness of the real estate sector in line with market developments and strengthen the confidence of customers and investors.
The authority called on interested members of the public, government entities and private-sector participants to review the draft guides on the Istitlaa platform and submit their comments and proposals.
