The Egyptian Association for Realtors has signed a cooperation protocol with Manara Developments to market its projects, through credible realtor members of the association, allowing them more privileges than non-members, Invest-Gate reports

The Association Secretary General Reda Al-Minshawi says, “This is the third protocol that the association has signed with a real estate developer. It includes exclusive benefits for realtors and brokerage companies (members of the association). We aim to work with credible professional real estate companies under the terms and conditions set by the association to guarantee credibility, transparency, and trust.”

Such terms and conditions obligate the developer to provide a strong business precedent, a strong financial solvency, all necessary building permits of the projects, along with credible building timeframe and solid delivery deadlines with complete transparency in dealing with clients and realtors.

Signing the protocol were Secretary-General of the Association Reda Al-Minshawi, Board Member of Manara Developments Mahmoud Omar, Company, according to a company press release on June 3.

Shaher Ali, the association treasurer, adds that the association seeks to cooperate with developers and ensure their seriousness to protect customers and realtors from any malpractices or misinformation. “The presence of deceiving information harms the reputation of the real estate sector in general and real estate agents in specific,” he comments.

He points out that the real estate sector is one of the promising sectors that contributes at least 17% to the gross domestic product, and contributes to providing millions of job opportunities, and therefore this market must continue to operate properly and preserve the rights of all parties working in it: between the developer and realtor; and between realtor and client.