REGA seeks public feedback on Executive Bylaw of Real Estate Brokerage Law

17/12/2022 Argaam
Logo ofReal Estate General Authority (REGA)

Logo of Real Estate General Authority (REGA)

The Real Estate General Authority (REGA) published the Executive Bylaw of Real Estate Brokerage Law on Istitlaa platform, seeking public feedback during the period from Dec. 18, 2022 to Jan. 15, 2023.

 

Under Article 21 of the Bylaw, the real estate broker is entitled to a commission of 25% of the down payment if the seller or the landlord owes it in case of not completing the real estate transaction, unless the two parties agree otherwise in the real estate brokerage contract.

 

In June, the Saudi Cabinet approved the Companies Law and Real Estate Brokerage Law, Argaam earlier reported.

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