The Benefits of Hiring a Good Estate Agent in the UAE
As the UAE real estate market continues to experience meteoric growth, there are more and more opportunities for buyers and renters across the emirates. Developers are clamouring for our attention, the government is hard at work concerning infrastructure, and the digital technologies are changing the way we show and view properties (Matterport virtual tours, anyone?). A good broker can help you to snap all of that into focus. Whether you’re looking to buy, sell or lease a property, the benefits of hiring a good estate agent in the UAE are plentiful. Here are some of them.
1. SAVING TIME & MONEY
Let’s start with the obvious one – unless you want to be spending your weekends staging your property for viewings, taking potential buyers on tour and making chit chat, hire a broker.
2. GETTING ACCESS TO MULTIPLE VIEWINGS
In a buoyant market like the UAE’s, a good agent will have the connections to show you various properties through multiple agencies. A great agent will get you access to homes that aren’t even being advertising yet.
3. GETTING ADVICE BASED ON REAL DATA (COMPARATIVE MARKET ANALYSIS)
Say you’re interested in buying a property in X Area because the current ROI is 10 pc. A well-informed agent might tell you that the ROI in X is likely to depreciate and buying in the less appealing Area Y would be smarter in the long run.
4. HAving EXTENSIVE PAPERWORK SORTED
The administration that comes with most real estate transactions might not sound threatening – until you see the number of pages and the amount of fine print. A trained broker can take care of all of it or you, and you won’t have to worry about making an oversight either.
5. NEGOTIATION SKILLS TO HANDLE TRANSACTIONS AGAINST MULTIPLE EXPAT BACKGROUNDS
Negotiation is an art form that brokers spend years practising. These skills can come in particularly handy in a market that’s as culturally diverse (and sensitive) as the UAE’s. Say a tight-fisted seller refuses to pay for a leaking pipe. You’re likely to get emotional while a broker is likely to stay level-headed.
6. TAPPING INTO a network of useful CONtacts
An experienced, long-standing broker will have a vast network of local developers, designers, landscapers, inspectors, lawyers, contractors and other professionals. One of these contacts might become an integral component of your plan’s success.
7. GETTING A PROACTIVE AND TRANSPARENT SERVICE
A good estate agent will tell you upfront what they’re doing. Hence, when the time comes to pay them their commission, you’ll know exactly what you’re paying. Find the right agent, and you’ll see that he/she has done a LOT more than open a few doors for you (which is common for fast-buck brokers).
8. BRING A HUMAN TOUCH TO THE PROCEEDINGS
Lastly, we do live in the era of instant messaging, 3D virtual tours and intangible off-plan developments. But nothing can replace the customer service skills of a professional agent/mediator. If you hire a full-service agent, it’s like having someone handhold you through the entire complicated process.
Speaking of Customer Service, most brokerage firms in the UAE don’t invest money in training new staff. Instead, they rely on RERA’s introductory course and the good old trial and error. Since you’re either looking to make one of the biggest purchases of your life or leave your home in someone else’s hands, you need to be 100 pc sure that you’re hiring a professional with a good track record as opposed to an untrained/inexperienced rookie.
Do your homework on Bayut and make sure to find reviews of the agents on Google, Facebook and other websites.
The good news for everybody is: Bayut has recently launched a series of workshops with the purpose of improving the communication and customer service skills of UAE brokers.