The launch of a Continuous Professional Development (CPD) by the Real Estate Regulatory Authority (RERA) for real estate brokers and sales agents is seen as a major step towards improving the efficiency, effectiveness and professionalism of the property market in the Kingdom.
Speaking at the launch of the CPD training courses CEO of RERA, Shaikh Mohammed bin Khalifa Al Khalifa, said ‘One of the key objectives of RERA is to improve transparency, increase trust and provide assurance to investors that Bahrain has a strong, regulated and sustainable real estate sector. We will deliver on this objective by increasing professionalism in the sector, making sure that all practitioners have the expert knowledge, skills and competencies required to operate in the dynamic real estate sector’.
The Diploma and Certificate in Real Estate courses, designed specifically for brokers and sales agents commence this week at the BIBF. The training courses will also run later this year and all RERA licensed brokers and sales agents are eligible to attend and are encouraged to register as soon as possible through www.rera.gov.bh.
All brokers and sales agents must be registered and licensed by RERA before 31 August 2018. It will be illegal to trade as a broker or sales agent without a license after that date and penalties will be enforced for non-compliance.
The Chairman of the Bahrain Real Estate Association, Mr. Nasser Ali Al Ahli said: ‘The Association is delighted to support the RERA CPD programme which will be of benefit to all our members. Increasing the professionalism of real estate practitioners through these training courses will be of benefit to each and every broker, their business and ultimately improve the level of activity in the sector.
The BIBF’s Director Dr. Ahmed Abdul Hameed Al Shaikh commented, “We are pleased to collaborate with the Real Estate Regulatory Authority to realize the national vision of making Bahrain the premier destination for real estate investment both regionally and globally. Continuous Training and development is an essential element of realizing that vision and providing the individuals working in this field with the necessary knowledge, best practices and tools to support a robust real estate sector in the Kingdom.”
The Diploma and Certificate in Real Estate provide the foundation from the CPD programme for brokers and sales agents. Each year RERA will arrange further training on key issues for the sector. Completion of the annual CPD is a prerequisite to renewal of brokers and sales agents’ licenses.
The RERA website www.rera.gov.bh is an important resource for people looking to buy or sell property in Bahrain. Already the website features a database of all RERA registered Brokers and Sales Agents with their contact details so that potential clients can check who is licensed and make direct contact with the appropriate broker or sales agent. The RERA website also has details of the Law and Resolutions, the Code of Conduct and a frequently asked questions section.
CEO of RERA, Shaikh Mohammed bin Khalifa Al Khalifa, went on to thank Tamkeen for their support in funding the programme and the BIBF as the strategic partner in facilitating the training programme.