Beyond the competition: How to become the best broker in Dubai
On a specialist's note: we tell you what criteria clients use to choose agents
The real estate market in the UAE is one of the fastest growing in the world. For example, according to the analytical platform REIDIN, the growth rate of sales volume in 2023 was approximately 30%-35% compared to the previous year.
Of course, this attracts brokers from all over the world to Dubai. New real estate agencies open almost every week, social networks are full of publications by local specialists. Therefore, it can be difficult for clients to decide and choose a broker who knows the market well and can provide quality service.
Why can't do without third parties in Dubai?
The fact is that the real estate market in Dubai - absolutely brokerage. Approximately 80% of transactions with primary real estate is made with the participation of agents. In the secondary market, the transaction can not be made at all without a certified broker.
Therefore, any person dreaming of buying real estate in Dubai needs a specialist who knows the market, navigating the nuances and possessing professional expertise. Developers in Dubai know all the top brokers and maintain a trusting relationship with them, because it is the agents who provide them with regular transactions.
So, let us tell you what criteria clients use to choose a broker in Dubai (and how to become the best of the best)
Point 1: Availability of license
In the UAE, brokerage activities are regulated by the state, so a special license is issued by the well-known bodies - RERA* and DLD*. Unfortunately, you will not be able to work in Dubai without this license. Many articles have been written about it, and information about broker license is spread all over the Internet. Therefore, the client will first of all ask if you have a license. In this way, he will make sure that in front of him is a specialist legally working in the real estate market in Dubai. The good news is that you can apply for a license on your own or use the services of services for brokers*.
Point 2: Experience
Many clients look at experience when choosing a broker. Investors prefer to cooperate with agents who have significant experience working with foreign real estate. Experienced professionals have a real knowledge of the market, they are familiar with the peculiarities of different neighborhoods and can help with useful investment advice.
But don't be discouraged if you are just starting out. Newcomers can also take their duties responsibly and sometimes provide better client service than experienced brokers. Usually, enthusiasm and energetic approach are more common in young professionals at the beginning of their careers. When these qualities "neighbor" with real knowledge and expertise - a broker can be chosen even in the absence of long-term experience.
Tips for beginning agents!
1)If you are not sure about any of your actions, it is better to understand the issue before you start working or check with experienced colleagues. Preventing mistakes is easier than correcting them.
2)To begin with, choose one real estate segment and devote time to studying it. It is almost impossible to master the entire Dubai market in a year, but to understand one particular sector is quite realistic.
Point 3: Work with documents
Registration of a real estate deal in Dubai always involves a lot of different documents. At first glance, it is not difficult to deal with them. However, only experienced brokers know the nuances and pitfalls. For example, a common mistake of beginners, which they do not pay attention to: all certificates and statements at the time of signing the contract must be up to date. And it is also the broker's task to keep track of this, not the client's.
Point 4: Reputation
Before starting to work with a broker, many clients study information about him on the Internet: website, social networks, reviews. Therefore, a beginner needs to take care of reputation from the very first transactions. A real estate agent working in Dubai should have a high level of customer service (don't forget, the competition here is huge!), a website filled with information and well-developed social networks so that a person looking for a broker can get acquainted with the quality of your work. Also do not forget about "word of mouth": many clients share with each other contacts of proven realtors.
Point 5: Personal qualities of the broker
One of the important criteria in choosing a broker is his personal qualities: communication skills, attentiveness to the client's requests and needs. In addition, potential investors appreciate in specialists honesty and the ability to provide complete and accurate information about each stage of the transaction.
Therefore, do not hide details, if the client asks, for example, about the features of the neighborhood or residential complex, which do not coincide with his expectations or preferences. It is difficult to find the ideal option, but an honest story about the advantages and disadvantages will always inspire confidence in the client and will put him to you even more.
In lieu of a conclusion - a brief checklist from clients on choosing a broker
If you are a beginner, you can take a few minutes to check yourself against these criteria:
- License availability.
- Experience, knowledge, expertise.
- Ability to work with documents, knowledge of the pitfalls and nuances of the registration of the transaction.
- Good reputation, positive feedback.
- Communicability, honesty, attentiveness.
Remember that the main thing for the client - to get the desired housing, to achieve their investment goals and minimize risks. And the task of a good broker - to help him in this and make the process of real estate registration comfortable and safe.
* RERA (Real Estate Regulatory Authority) - Dubai Real Estate Regulatory Authority.
* DLD - Dubai Land Department.
* For example, working through the Housebook service, the broker concludes a partnership agreement to use the company's license to execute a transaction in the UAE.