What entity applies for a broker's license?

The correct answer is that a registered brokerage company is the entity that applies for a broker's license. In the context of Dubai's real estate market, the Real Estate Regulatory Agency (RERA) has specific regulations that emphasize the importance of having a registered brokerage entity in order to ensure that real estate transactions are conducted in a professional and legal manner.

A registered brokerage company must meet certain qualifications and adhere to RERA's guidelines to obtain and maintain a broker's license. This includes having the appropriate infrastructure, such as staff and operational procedures, to effectively facilitate real estate transactions and protect the interests of clients. It also allows for accountability and ensures that the brokerage complies with local laws and regulations governing real estate practice.

While individual real estate agents may work under a registered brokerage, they do not apply for a broker's license independently. Property developers primarily engage in the development and sale of properties but do not function as brokers unless they operate through a registered brokerage. Governmental agencies are responsible for the oversight and regulation of the real estate industry but do not seek broker licenses themselves. Thus, the requirement for a broker's license to be obtained through a registered brokerage company aligns with RERA's commitment to maintaining high standards in Dubai's real estate market.