Real estate is a booming industry and if you are passionate about making your mark in one of the leading property capitals of the world, here is what you need to know.
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. Which is why getting a RERA license is just the beginning. 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.
Work with a trusted brokerage firm
Pick the right one to kickstart your career. A firm that combines technology, teamwork and personalised service to enable property buyers and renters take control of their Dubai real estate search. A company that is dedicated to empowering people with the right data, tools and knowledge and making the process of finding, selling or renting a home or office, stress-free and enjoyable.
Take the RERA exam
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, which upon passing will enable you to get you a license which you will need to renew every year. Head to Dubai Police for a Good Conduct Certificate. Your employer will 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.
Understand the real estate laws
Every industry has its own laws, 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, land use and construction and how landlord-tenant issues need to be handled.
Enhance your network
Get connected and enhance the reach of your network. Your list of connections should include 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 will be amazed at how much business you can get just through referrals. Talk to experienced agents and ask them 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 maximise opportunities for visibility through social media.
Zero in on new leads through phone calls, email marketing or referrals. Attend local events and use technology to make your listings to stand out with virtual tours, walkthroughs, compelling images and client testimonials. Send a monthly e-newsletter to keep in touch with past and prospective clients. Most importantly, invest in great after-sales service and follow-up.
Become an area expert
Get acquainted with the community you want to specialize in. Understand prices and rents, how the area functions, the schools, malls and transport links nearby and add them to your sales pitch. You could even consider moving to the area if you can afford it and experience what you like and do not like about it and 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.
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! Give clients your undivided attention, empathize with their needs and only promise what you can deliver.
As a real estate agent, you must have the tenacity to pursue every lead and aggressively market your clients’ properties. 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.
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.” 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.
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.
If you want to become part of the biggest real estate company in Dubai send your CV here.