Real estate in the UAE can be a great career – you are your own boss with a flexible schedule and commission-based earnings. However, not every real estate agent in Dubai is successful.
We share the ten most common reasons real estate agents fail to make it in their real estate careers.
Interested in the money, not committed to the reality
There is a difference between being interested in a real estate career and being committed to your goals and working towards them. Commitment involves coming up with a strategy towards success, creating SMART goals and being dedicated to offering quality customer service.
Not answering the phone on time, or professionally
Be it leads through Bayut or social media, you can expect a significant number of your potential clients to call you to enquire about your business or properties. And if you’re not picking up the phone, someone else will. That’s a lost business opportunity.
In our All About Leads session at Bayut Academy, we talk about the five-minute Golden Window – where you’re most likely to build business relationships with a lead if you call them within five minutes after they’ve called you.
This is why a successful real estate agent has a separate work phone, with notifications on for calls and WhatsApp inquiries. You don’t want to miss out on those precious leads, do you?
Not replying to WhatsApp and SMS enquiries in a timely manner
Closely linked to the previous point – a significant number of property seekers use WhatsApp and SMS to contact agents about listings on Bayut and dubizzle. A good agent is alert to any text messages received and responds immediately to any message. And beyond that, look out for lead messages on Facebook, Instagram or TikTok – places where you post your content.
Asking closed questions
Do you think any client wants to be asked ‘cash or mortgage’ on that first enquiry call?
A question like that is a sure-fire way to LOSE a lead.
Questions like ‘cash or mortgage’ or ‘Do you like this property’ are examples of ‘closed questions’, i.e., questions that discourage further discussion and end in a monosyllabic answer. A good agent would ask ‘open questions’, or questions that encourage further discussion and give you the opportunity to understand a client.
Consider a question like ‘Tell me, what specifically are you looking for?”’. Open questions like thisget your client talking about their property preferences, the specific needs they have, and a timeline – making it easier for you to find a property that matches their requirements. You could also ask, “what are you looking for in an agent” or any other well crafted open question.
No strategy
Every successful agent has a solid business strategy in place. Ideally you should be starting your career by creating your SMART goals – well-defined goals that are specific, measurable, attainable, relevant and time-bound. Definitely not ‘I want to be the best agent in Dubai’, but along the lines of ‘I want to sell three houses in the next 6 months.
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Once you have your goals in place, you should have a lead generation strategy, a lead segmentation plan, and a lead follow-up and nurturing strategy to take your potential clients through the sales funnel.
In addition, you should have a marketing strategy in place to build your personal brand and get noticed by property seekers.
Being late
If you’re late for an appointment, you’re making a poor impression on your potential client. It showcases your lack of professionalism, and you’re most likely to get ghosted by your client.
Good agents are on time for their appointments – viewings, or meetings. Aim to reach your meeting point at least 10 minutes before your appointment, giving you a time window for any situations that can hinder your arrival, like finding parking or being stuck in traffic. And if you’re 10 minutes early, you can mentally prep for your conversations with your client (instead of being out of breath and disoriented before a first meeting).
But let’s say you’re running late due to unavoidable circumstances, like being stuck in an unexpected traffic jam. In such a situation, send a message or call your client as soon as possible, informing them of the delay. This is a lot more professional than showing up late with no notice.
Not being accountable for the promises you make
If you’re telling your client that you will do a specific task for them, you stick to your words and actually do it. We hear many stories about agents who promise to send listings, call back the next day or send them data, but end up forgetting it. Don’t be that agent!
Follow through on any claims or promises you make to your client. An excellent way to remember these promises you make is to add them to your list of reminders – you can either use the Reminders app on your iPhone or the Keep app on Androids. And tick them off your tasks after you complete them.
Monday-to-Friday, 9-to-6 mentality
Yes, you’re a real estate agent with your own schedule, but this does not mean that you get to shut down work the moment the clock strikes 6 p.m. A good agent is on the ball every day of the week, at all times. You never know when a potential lead could call you – this could be after their work day, or over the weekend. So, stay alert for any calls or messages at all times.
Not tracking numbers
Tracking your numbers and performance gives you insights into your progress, and helps you see where you need to put in more work. In UAE real estate tracking your numbers includes:
- Taking deep dives into performance reports of your listings on Bayut via Profolio™. Understand the areas where your listings generate higher leads, sales versus rental lead performance and plan allocating Property of the Week, Hot and Signature accordingly.
- Looking at last sold transactions on Dubai Transactions to be aware of all the sales and rental trends in your area of specialisation.
- Looking at the your lead conversion rates to find out how you’ve been performing.
Lack of schedules or weak routines
Time management is an essential skill for real estate agents – knowing how to prioritise your tasks, time blocking and eliminating time bandits are key skills to master for success in the industry. A good agent would be able to define productive and unproductive work, and allocate their time for tasks like prospecting, creating content for social media and following up with hot and warm leads – and plan their day accordingly.
If you’re looking for more ways to grow your skills for your real estate business, join us for a workshop at Bayut Academy, where we host in-house workshops for realtors in the UAE. You can also explore our resources on our Content Corner, where we share tips and insights to help you excel in your real estate career.