Dubai to Issue 10,000 New Broker Licenses in 2024

Dubai’s real estate market is set for unprecedented expansion in 2024, with an anticipated issuance of approximately 10,000 new broker licenses, marking a significant 100% increase from the 5,000 licenses granted in 2018. This surge reflects the booming property sector in the city, attracting a record number of brokers.

According to VVS Estate, a Dubai-based real estate consultancy, recent years have demonstrated consistent growth in broker licensing. The consultancy reported the issuance of 6,000 new licenses in 2019. The subsequent year saw a slight decline to 5,500 licenses due to the pandemic’s impact. However, the market rebounded with 7,000 new licenses in 2021, 7,500 in 2022, and approximately 8,000 in 2023. This upward trend underscores the increasing demand for real estate professionals amidst Dubai's flourishing real estate market.

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In response to this growing demand, VVS Estate is launching the VVS Academy, aimed at addressing the need for well-trained real estate professionals. The academy will offer 31 comprehensive training courses designed to equip aspiring brokers with the necessary skills and knowledge to excel in the industry. The courses will cover a wide range of topics, including personal branding, portfolio alignment, communication, networking, CRM utilization, negotiation techniques, data analysis, and regulatory compliance.

Valentina Rusu, Founder & Managing Partner of VVS Estate, commented on the expansion: “The significant increase in broker licenses highlights the dynamic and expanding nature of Dubai’s real estate market. As more individuals are eager to join the industry, the need for formal training and certification becomes crucial to maintaining high standards.”

Rusu emphasized the importance of structured training programs for real estate agents. Joining a real estate academy like VVS Academy ensures that agents stay informed about the latest market trends, legal updates, and technological advancements. It also provides valuable networking opportunities with industry professionals, which are essential for career progression.

VVS Academy’s training program is designed to offer a holistic approach to mastering the real estate sector. Participants will progress from beginner to advanced levels through a structured curriculum, aimed at developing expertise in various aspects of real estate brokerage.

VVS Estate, with over a decade of experience in the real estate industry, is known for its commitment to high standards and transparent transactions. The brokerage offers a wide range of property options, including off-plan and secondary properties, as well as commercial real estate. Their dedication to client satisfaction and relationship building underscores their role as a leading player in Dubai’s real estate market.

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