The first quarter of 2022 showed extremely impressive growth rates in the Dubai real estate market. According to the Dubai Land Department (DLD), almost 26,000 real estate purchase transactions were registered in the emirate in the first three months, which was the largest number of transactions since 2010.
The volume of transactions and the speed of their conclusion is growing month by month, and some brokers and agencies, inspired by the situation, have begun to resort to questionable marketing practices in order to snatch a piece of attention from buyers. In particular, the traditionally popular, but guaranteed illegal method of advertising through «cold calls», the so-called telemarketing, began to become popular.
So, the other day it became known about an unnamed real estate broker who was fined by RARA (approx. the regulator of the real estate market in Dubai) on a direct tip from disgruntled victims, to put it mildly, not pleasant to many marketing practices.
The state regulator imposed a fine of just over $13,500 and banned the activities of nine agents of an unnamed company for three months.
At the same time, RERA issued a statement on Friday, reminding other companies in the market that the organization will adopt prompt and cruel methods of punishing any company found to be involved in illegal marketing methods at the first application of citizens.
The representatives of RERA indicate: «We intend to provide buyers and investors with a safe environment in the real estate market, without having to face spam and unwanted calls from brokerage offices trying to sell and advertise their own services. We will continue to make efforts to eliminate all problems of this kind in communication with brokerage organizations and agencies».
Confirming their words, RERA has opened a new service called «Green list» in their Dubai REST mobile app. Due to this service, every person suffering from unwanted advertising can, in a couple of taps on the smartphone screen, complain about any company that uses «cold calls» for marketing.