If a developer wishes to market an off-plan project through a broker, they must conclude a formal agreement with an approved and licensed broker. This agreement must be registered with the DLD. Furthermore, any payments collected by a broker during…
If a developer wishes to market an off-plan project through a broker, they must conclude a formal agreement with an approved and licensed broker. This agreement must be registered with the DLD. Furthermore, any payments collected by a broker during the marketing process must be deposited directly into the project�s Escrow Account. The broker is strictly forbidden from depositing these funds into their own account or deducting their commission before the money is secured in the project account.
This is general information from the website library. Confirm current rules, fees and property details with the relevant authority before acting.
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