With record-breaking numbers and a property market made even more remarkable by its resilience during the pandemic, Dubai is fast becoming a top property hotspot.
On one hand, a growing number of residents are choosing to settle in the country with properties of their own. What’s more, Dubai is witnessing an influx of people for its promise of safety, security and lifestyle. On the other, more investors, foreign ones in particular, are seeing its potential and are ploughing their money into city.
Of course, where there are buyers and investors, there are real estate agents. If the above doesn’t sound like the ideal market to be in as a realtor right now, then we don’t know what is.
Dubai’s real estate sector is booming. And if you are passionate about making your mark in the industry, here is everything you need to know to become a successful real estate agent in Dubai.
1. Choose the right brokerage
It goes without saying that you need to pick the right one to kickstart your career. There are plenty of real estate firms in Dubai. When starting out, you will want to join the right one. Among the things to consider include the name and reputation of the firm, commission structure, visa and medical insurance, admin and marketing support and lead generation tools. At Betterhomes, we provide all these to ensure you are equipped with everything you need.
2. Get RERA-certified
Register for the Certified Training for Real Estate Brokers course offered by Dubai Real Estate Institute (DREI). At the end of the course, you will have to take the exam to become a registered broker in Dubai. Upon passing, head to Dubai Police for a Good Conduct Certificate. Your employer will then contact RERA to get you your broker ID. You can now get started on your career as an agent! Different emirates have different real estate governing bodies, so you can only work in Dubai with a RERA broker ID. Note that your license will need to be renewed every year.
3. Understand the real estate laws
Every industry has its own set of regulations. So if you want to pursue a real estate career, familiarize yourself with the rental contract, buying and selling laws as they regulate how property can be bought and sold, leased and rented.
4. Enhance your network
Get connected and expand the reach of your network. Connect with other real estate agents, potential buyers, renters and sellers, and all the other players in the real estate industry, such as appraisers and mortgage loan officers. You can also learn form experienced agents on how they widened their network, check with your firm to see if they use a customer management software, ask clients to give you referrals, and maximize opportunities for visibility through social media.
5. Market yourself
Zero in on new leads through phone calls, email marketing, or referrals and get yourself out there by attending local events. More importantly, use technology to your advantage and make your listings stand out with virtual tours, walkthroughs, compelling images and videos. You can even think outside the box and create a recurring e-newsletter to keep in touch with past and prospective clients. Most importantly, invest in great after-sales service and follow-up.
6. Become an area expert
Get acquainted with the community you want to specialize in. Be the local expert by developing extensive knowledge of the area: the schools, malls, and transport links nearby. You could even consider moving to the area if you can afford it and experience what it is like as an insider while you network with residents to secure more listings. Become the go-to person for information on properties for rent and sale in your area. Be knowledgeable when it comes to price increases, decreases, and market forecasts. Know how much inventory there is, how many potential buyers there are, and how long the inventory is expected to stay.
7. Price right
While pricing your properties, pay attention to market trends. Ensure that the price you are putting up lies within the current market range. While your aim should be to win the best possible price for your client, remember that time is money and if a property sits in the market for a long period of time, you might end up losing your client!
8. Become a client advocate
As a real estate agent, you must have the tenacity to pursue every lead and professionally represent your client. Give them your undivided attention, empathize with their needs, and only promise what you can deliver. You need to work smart, invest the right amount of time and possess a high degree of self-motivation, drive and smart decision-making skills.
9. An engaging personality
To quote RERA, “Real estate brokers are the most high-profile representatives of the sector and the department expects them to be fully cognizant of their rights and duties in order for them to effectively serve their customers.”
A good real estate agent does not just sell properties—they sell themselves. People will respond to you if you have a great attitude, are personable and honest, have confidence in your abilities and are interested in helping them and others. Watch, observe and learn from your seniors and develop the ability to cope with new situations.
10. Knowledge is power
Stay up-to-date on the latest topics in real estate. Continuing education and professional development are doors to opportunity that you can utilize to expand your business options and stay at the forefront of your chosen field.
A good real estate agent is similar in nature to a conductor of a symphony, coordinating different players for a successful transaction. At different points in the process, the real estate agent is a salesperson, a buyer’s advocate, an analyst, a business manager, a consultant, a negotiator, and a marketer.
Becoming a real estate agent involves hard work, dedication, and good social skills. Being good at your job essentially depends on how much time, patience and effort you are willing to put in. Being creative, receptive to clients’ needs, and having exceptional negotiation skills are just some of the essentials that form the basis of a successful real estate agent.
If you want to become part of the biggest real estate company in Dubai, get in touch with us here.