Do you feel frustrated when a client asks you a question you’re unable to answer?
As a real estate agent, part of the job is learning more about the communities you are active in and being equipped to answer any questions a buyer might have about a new or existing listing. In this article, we walk you through seven questions you should be able to answer for any listing.
We recommend familiarising yourself with these answers before the listing is uploaded on Bayut & dubizzle or posted on social media.
How Much Are Annual Service Charges?
Service charges are recurring fees paid by homeowners that cover the home’s overall property management charges. These charges are applicable on all types of property in the UAE and are charged on a square foot basis.
Service charges usually range from AED 3 to AED 30. You can use the Dubai Land Department Service Charge Index to find the service charge per square foot for your new listing.
These fees are a significant operating expense and are essential to consider when making decisions about buying a property. In addition, make a note of the annual service charges on all your listings for sale; this will show that you are a well-prepared and knowledgeable agent.
Have There Been Any Renovations On The Property?
If your new listing was recently renovated, ensure you highlight this in your property listing. Changes such as installing hardwood floors and remodelling the kitchen or the bathroom will add tremendous value to the property and can even fetch a higher price.
An attractive, high-quality listing is likely to generate better leads. Renovations raise the asset’s overall value and should be emphasised when a lead enquires about a new listing.
Can You Tell Me More About The Property?
Knowledge about the building/house is critical for any listing. It helps the client understand whether the property meets their criteria and whether it’s a good fit for their needs.
Use our Building Guides to be able to answer the questions of prospective buyers with ease and confidence. Here’s a checklist of the basics you need to know about any building/house:
- Year built
- Facilities and amenities
- Security
- Parking
- Utilities
What Is The Closest School/Hospital/Supermarket?
Gaining knowledge of the property itself is just the beginning. In order to provide high-quality service to your clients, you should be able to answer questions about the area your listings are located as well.
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We understand that this can be challenging given the wide range of areas in the UAE however, do not worry. Our handy Area Guides are sure to help you!
Research the property’s closest landmarks, schools, hospitals and supermarkets to gain a comprehensive understanding of the neighbourhood. In addition to common landmarks, look into the area’s connectivity; how accessible public transport is, the distance to the nearest highway, and traffic conditions getting in and out of the community.
How Does This Layout Compare To Others In The Building/Area?
When taking on a new listing, you should not only understand the layout of the property you represent but also other available layouts in the building. Floor Plans can help with this; browse through the available floor plans in the building and note which layout matches your listing. Then, you can analyse the similarities and differences between the layout you have listed and others in the building and convey this to your clients.
Floor Plans also help you understand whether the layout you have listed is the best fit for your client. If you know there are other layouts which better meet client needs, you can arrange to have them view other options as well.
Is This Property Suitable As An Investment?
If you cater to investor clients, you should be able to walk them through the different rates of return they can expect from a property. This includes understanding their mortgage amortisation, principal and interest payments and operating income. Doing this helps you stand out as a knowledgeable and trustworthy agent.
To better understand the calculations behind analysing investment properties, join us for our exclusive workshop on working with real estate investors in the UAE at Bayut Academy.
Is This Really A Good Deal?
Any buyer can be speculative on price; after all, they are looking for the best deal.
If your listing is priced at fair market value, you should be able to articulate why your property is appropriately priced for the current market conditions.
To further educate the buyer, you can share Transaction Insights (available on BayutPro and Profolio™) to share the last sold transaction data.
You are now all set to represent your new listings! Ensure you do your research for any new listing you post and use our tools to help you in the process. If you enjoyed this article, check out our Content Corner, where we have various UAE real estate focused articles available to help you upskill and become a better agent. You can also register for one of our sessions at Bayut Academy, where we host interactive workshops designed to help you acquire the skills necessary to remain competitive in the UAE real estate industry.