So you’re about to move to or buy property in one of the world’s most dynamic cities, where everything you want in terms of dining, shopping, entertainment and lifestyle is at your fingertips.
However, with all of the perks of living in Dubai, comes the insanely competitive real estate market. Whether you’re looking to rent or buy, here’s how to choose the right real estate company in Dubai and hit the ground running. Few points to remember while selecting the Dubai real estate company include:
1. Is the Dubai real estate company professional?
Whether you are looking for a real estate company in Dubai to help you buy, rent, sell or let a property, you do not want to be part of a realtor’s learning curve. Ask how long the company has been licensed and how long they have worked in the area.
2. Does the company have agents who work in your price range?
Whether you are buying, selling, renting or letting, choose a Dubai real estate company who works with your price range. For instance, if you are looking to buy a house in the range of AED 700,000 to a million dirhams, you should check to see if the real estate company in Dubai is listing houses in that bracket. A Dubai real estate company who focuses on more expensive properties may not be as knowledgeable about what is available in your budget. Moreover, you are unlikely to get much attention from an agent who mostly deals with 10 million dirham luxury properties.
3. Have they bought or sold in your neighbourhood?
Make sure the agent you pick specialises in the kind of property you want to buy/rent. Get recommendations from friends and family.
4. Is the real estate company in Dubai a neighbourhood expert?
Finding an expert is important as an agent who specialises in a neighbourhood is likely to also be in touch with people looking for a property similar to yours or sellers who haven’t yet listed their home on the market.
5. Choose a Dubai real estate company you trust and like?
Once you have refined your search and zoned in on a real estate company in Dubai, make sure you are working with an agent whose expertise you trust and whose personality you like. You will be spending a lot of time with your agent, so it’s important that it is someone you are compatible and feel comfortable with.
6. Does the agent suggest a really high price for your property?
If you are selling your home, get quotes from at least three brokerages to see what comparable homes have sold for and how long they take to sell. Agents are looking at the same data, so the suggested selling price should be close. Pricing a home too high will not get the attention of buyers because they know you are not being realistic. Further, the longer your home sits on the market, the more buyers are going to think there is something wrong with it.
7. Can the agent ensure that the deal closes?
The agent you are working with should keep up with details of the transaction. That includes issues such as making surethe buyer is preapproved for a mortgageand that all the legal formalities are completed.