What to look for when looking for a real estate brokerage

  • Better Informed
  • 08 Apr, 2020
What to look for when looking for a real estate brokerage

When I decided to make a move from the south of England to Dubai, my first action was to research potential companies. Looking into the range of brokerages in Dubai, I realized there were many to choose from. I decided to look into their awards and reputations before sending over my CV and arranging interviews. The key features I wanted to find out about the companies were their size, their longevity in the market and their brand presence and success.

Once I had shortlisted a few agencies to speak with, I scheduled initial skype interviews. Having answered many questions about my experience and reasons for wanting to relocate, the main questions I had for the companies were: 

1) What kind of training will be provided?
2) Will I be given leads?
3) Where will I be based?
4) How does the commission structure work?
5) What are the office environments like?
6) Who would I be reporting to?
7) What room will there be for career progression?
8) What plans for growth and expansion does the company have?

I felt these were the most important questions for me to know, in order to get a good understanding of the companies and to be able to envision my potential future as an agent with them. Now that I have made the move, I still feel that the answers to all of these questions are the most critical factors. Knowing where a company is headed and what its vision for the future is helps with understanding your own potential for growth and progression. Understanding how you can progress your career with your firm is absolutely crucial for your motivation and professional development from the initial training to the potential promotions.

When choosing which firm to go for, I based my decision on the reputation and stability the company had on the market. I selected a brokerage that has a proven track record of success, and that has stood the test of time here in Dubai. Betterhomes has been recognised year upon year for their lead generation, progression, and outstanding customer service, so this helped me to feel confident that I was joining a firm with goals that aligned to mine.

Taking a step towards working in real estate is an exciting decision, that for those who are successful, can lead to significant financial rewards and a very fulfilling career. Since this is a dynamic and fast-moving industry that is always changing and developing, you will be managing different situations while dealing with diverse people daily. You can become a trusted advisor and confidante, help people make substantial investment decisions and change their lives for the better. Seeing things follow-through and generate returns or helping a family move into their dream house can be so rewarding. However, real estate is not an easy industry to work in, and those great rewards require hard work and dedication. The most important decision you will make is the company you decide to work with. The type of company you work with can make or break you and your experience in the industry. The right kind of company will equip you to be a great broker, and support you through your losses and celebrate you through your successes. The wrong type of company can leave you feeling unprepared and can give you an entirely different perspective.

To summarise, when selecting a real estate company to work with, it is essential to look at the following:

Brand name – choose a company with a recognised brand that is respected and established in the market.

Longevity on the market – analyse the company’s history. Valuable indicators of a company’s performance are their stability, growth and durability in the market. The duration they have been open for and the expansion that has taken place during that time with giving you an insight into their success and the awareness the brand name will have in the market.

Awards – look into the recognition and awards that the company has received – ensure the awards are from reputable sources in the industry.

Reviews – check the reviews from both clients and employees about the firm and its agents; you should be able to find honest reviews on websites such as Trustpilot.

Training – the training package offered by the firm to its employees is crucial, especially if you are new to the UAE or the real estate industry. Check what type of training and certification is provided for the new joiners and throughout the career. 

Support – ensure to enquire about the support that will be provided to you during your employment, such as marketing and admin support. This will be important for your day to day role. Also, you should find out who you will be reporting to and supported by whilst you are working.

Marketing – research company’s marketing and advertising activities, for both their brand and their properties. Ensure that the firm has active accounts with the leading property portals in the area so that you can be more confident that your listings will get maximum reach on the market.

Career progression – it is so important to find out what career progression opportunities are available with the company. This will help you to have a clear direction and feel motivated at work. Also, make sure you discuss the projected growth and expansion plans for the overall business.

Working environment– if you have the opportunity to, you should take the chance to visit the branch you will be working in so that you can get an idea of the office environment in which you will be working and meet some of your potential colleagues.

Commission Structure – ensure that you ask about the commission structures provided by the firm and your targets. Also, check if there are any costs for marketing or admin support that the company may deduct.

RERA – when choosing a real estate firm to work with in Dubai, you must make sure that they intend to help you gain your RERA qualification at the start of your employment if you don’t already have it. 

Company values – finally, make sure the company’s ethos and values are right for you, and that they represent a company you would like to work with and be associated with. You want to feel that mutual respect with your chosen real estate company. 

If you are new to Dubai, our recruiters will be happy to tell you more about Dubai’s real estate market and what The Betterhomes group can offer. We can give you advice from how to prepare for the interview, to navigating the process of relocating if you are moving to the UAE.

We have all been in your position, and we are happy to offer advice and guidance, please feel free to get in touch so that we can share our insight into the real estate market and the recruitment process with you.

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