In a competitive landscape like Dubai’s real estate market, standing out as an agent and retaining your clients can seem like a steep challenge. In fact, it is all too common to hear of your fellow agents discussing how hard it can be to keep your clients. To help you out, we’re giving you the top five reasons why UAE real estate agents lose their clients and what you can do to prevent it.
Your commission doesn’t reflect your value
All too often, agents appear to be order-takers rather than trusted real estate advisors, offering timely insights into market values and trends. People looking to buy, sell or rent property want someone to help them.
For buyers, this entails going further than asking for the reference number of a property and opening the door. Buying property can be a stressful experience, so buyers need someone to walk them through their property journey. That means understanding what they are genuinely looking for, helping them with accurate pricing and how this investment fits into their overall financial portfolio.
Make sure you’re offering memorable service worth your commission and you’ll ensure clients that stay.
You have too many properties or clients
This one sounds counterintuitive, as properties and clients equal money. There is a belief in the UAE that having more properties in your inventory means more money. All too often, agents have their hands on too many properties and can’t keep up.
It is far better to have a few exclusive listings rather than 100 shared listings. You will lose clients if you cannot commit to providing genuine service, listening to their needs, and working to meet those needs through your network.
This is not a numbers game – rather, a professional services game. Provide service, provide value, and you will close deals. Follow up with clients and make it easy for them to contact you. If you are too busy to ever pick up your phone or call back promptly, your client will find someone eager to help them. This is one of the main reasons UAE estate agents lose clients.
Your initial contact is off-putting
Your first impression will determine whether a client wants to continue working with you or look elsewhere. We hear too many phone calls that are answered with a simple ‘hello’ rather than ‘hello, this is Sam with XYZ real estate, how may I help?’
Similarly, too many agents ask for a reference number versus asking, ‘What exactly are you looking for and how may I help?’ We hear far too many agents asking, ‘Is this cash or mortgage?’ before they have the common decency to ask the person’s name they are speaking with.
Buying and selling property can be a nerve-wracking experience, and the communication skills mentioned above can be very off-putting. Always answer the phone professionally and stand out from the pack by providing excellence and service from the first point of contact.
You haven’t established trust
Too many agents post fake listings with fake pricing in an attempt to get phone calls. Clients don’t believe it when you say, ‘That property has just sold, but I have a similar one for AED 50,000 more.’ Your job, as an agent, is to build trust and make the buyer or seller feel that you have their best interest at heart and can secure or negotiate a favourable price. Any type of lie is easy to uncover with the aid of the internet.
Again, it’s easy to stand out from the pack by establishing trust from the beginning by asking the right questions and providing the right information. Ensure your clients feel that you have their best interests at heart, and you will close more deals.
You seem desperate
The last in our list of reasons UAE estate agents lose clients is anxiety. Prospective buyers and sellers can often spot an agent who is desperate to close a deal. Remember, buying and selling real estate is about solving someone’s problem and requires a professional attitude, as well as a genuine passion for providing service. Avoid being pushy and inducing anxiety in your clients; instead, offer patience and a safe space.
We know that top agents across the UAE are passionate about helping their clients achieve a secure financial future and continually reflect on how they can best serve their clients. Focus on service and adding value, and the clients and referrals will come.
Discover more tools to level up your real estate skills at the Content Corner, our library of resources for real estate professionals in the UAE. Stay updated on the latest happenings in the UAE’s real estate with MyBayut, the region’s largest property portal.
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