MASTERKEY BLOG

Breaking News: Simsari.ae announced and what that means for brokers in Dubai

Simsari.ae has finally been officially announced, appearing today on the Emirates 24|7 website. 

 

Highlights

 

The main highlights of the announcement are:

  1. RERA has ordered all brokerage firms to register their available properties on Simsari.ae.
  2. The deadline to register your company is August 31, 2012.
  3. The system will be mandatory by September 1st, 2012.
  4. RERA approved brokers who fail to register will be penalised.
  5. Listings will be free (according to information from May).

The Emirates 24|7 article is a little lacking on details such as how brokers who fail to register will be penalised, but they do hint that RERA may in some cases fine brokers instead of the brokerage firms.


What you need to do about it

 

Some pretty obvious questions pop up around this. Why is this being done and what do I need to do about it? The Simsari main website is offline as of this posting, but we can spill what we know so far.

 

To be clear, the first time Masterkey heard about RERA’s plan to launch Simsari was in 2010 and since then we’ve met them many, many times. We’ve had detailed technical discussions on how our systems will integrate and attended the pre-launch Simsari training session with several large brokerage firms. Simsari has changed tremendously over this time and we’ve waited to see what the final product looked like before making any announcements.

 

At this time we are approximate 60-70% complete with our technical integration, so with RERA’s support we should have both systems up and running by the time they launch fully.

 

In order to help you in the meantime, we’ll be posting some very detailed step-by-step instructions about how you can comply with Simsari, both as brokerage firms and as individual brokers.

 

Stay tuned for end of day tomorrow for the link. We’ll also give you a run through of what you need to do along with some screenshots of the system and keep you posted if anything changes.

 

UPDATE 30 July 2012 - We've now posted our Unofficial Guide to Simsari.

 

Links: Original Emirates 24|7 Article


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