The Real Estate General Authority (REGA) announced today, Saturday, 23 December 2023, corresponding to 10 Jumada Al-Akhirah 1445 Hijri, that the Saudi Real Estate Institute has begun accepting registration applications for the training program required to obtain the FAL license for real estate consulting and the FAL license for real estate analytics. Nomination applications for the program will remain open for five days through the Institute's official website. Passing the training program is a prerequisite for practicing real estate consulting or analytics activities for both individuals and establishments, following the entry into force and publication of the regulatory regulations governing these activities in the Official Gazette.
REGA clarified that both real estate consulting and real estate analytics are classified as real estate services under the Real Estate Brokerage Law, which came into effect last July. This law regulates intermediary activity in facilitating real estate transactions between parties and also covers various real estate services, including: real estate marketing, property management, facility management, real estate auctions, real estate advertisements, and real estate consulting and analytics, all of which must be carried out exclusively by licensed and qualified establishments or individuals.
REGA emphasized the distinction between consulting and analytics, noting that the regulatory regulations define both as recommendations, opinions, or advice related to the real estate sector. However, the delivery method sets them apart: Both are defined in the regulations as recommendations, opinions, or advice related to the real estate sector. Real estate consultations are provided in writing to the beneficiary and require a formal contract between the provider and the recipient. In contrast, real estate analyses are disseminated to the public through media outlets, social media platforms, or other mass communication channels.
The training program, which began accepting nominations today and runs until Thursday, 28 December 2023, corresponding to 15 Jumada Al-Akhirah 1445 Hijri, has been developed by the Saudi Real Estate Institute in collaboration with leading local and international training institutions specialized in consulting and analytics. The program covers legal, communication, and technical dimensions essential to delivering real estate consulting and analytics services, and is taught by highly qualified professionals. The training duration spans six weeks (one and a half months), reflecting REGA’s commitment to ensuring the quality and accuracy of information and advice provided to beneficiaries.
Training courses in these two tracks are provided in-person quarterly starting next January due to the importance of applying skills, sciences and knowledge in these program contents to ensure necessary qualification for practicing activity in the real estate sector. Each track includes 14 training courses. To apply for nomination in the real estate consulting track, the applicant must hold a university degree in related specializations including for example (Economics - Engineering - Finance - Business Administration) and similar fields, and experience of no less than (3) years in practicing any real estate activities. For real estate analytics, experience of no less than (10) years in practicing any real estate activities is required.
Applications must be submitted through the Saudi Real Estate Institute portal by selecting the desired track. REGA will review and verify each application to ensure it meets the eligibility criteria. Applicants will be notified of the nomination results as a first stage, and accepted candidates will subsequently receive information about course schedules and venues. Upon successful completion of the program, participants will receive a certificate of completion, after which they may proceed with the licensing procedures via the platform. The license will be issued within five business days of completing the training.
In accordance with the Real Estate Brokerage Law, neither individuals nor establishments are permitted to offer real estate consulting or analytics services without first obtaining a license from REGA. Article 19 of the law states that violators may be subject to financial penalties of up to SAR 200,000.