Challenges and solutions related to the property industry in UAE
Published Date: 18th Nov, 2024
With millions of transactions handled by brokerages and real estate agents and agency owners, iconic buildings designed by architects, not to mention new developments daily, owning a weighted real estate career can be one of the most attractive careers in UAE! As job titels go its hard work best suited to someone dedicated, hardworking and intelligent – still the real estate commissions are very high indeed. If you make the wrong move, however, it all might be in vain.
This is why Property finder Sharjah is not just giving you tools like Property Finder Expert to help you. These obstacles can be some of the most typical (and largest) difficulties confronting many new real estate agency owners as they begin their careers in Dubai and the UAE, and as such we hope this guide will assist you.
Don’t worry, though. It is not just about the challenges and what will get you through them. This will be followed by writing about the right practices and tactics to help you survive but not only survive but also absolutely thrive!
In this article, you are going to know the following;
- Market Challenges: Getting over the first challenges of property listings, and how to ensure a consistent supply of listings.
- Core Duties: Relationships — how you will keep lots of property owners and developers giving you their stock.
- Finance: Information about smart finance approaches such as budgeting, cutting overhead and cash-flow management.
- Adaptive Strategies: How to adapt quickly when the market changes in order to stay competitive and informed
- Continuous learning & Networking: Learning never ends, as you can always gain information from the next big thing in your agency’s interest area.
By the time you finish reading this guide, you will prepare yourself to survive your first year in real estate agency in Dubai. So you know what they all say, the most challenged gets easier as it is understood The key to the overcoming hurdles of being a new agency in Dubai is tackling local regulations since only then they will remain ahead of the market. These are some of the trends to take note of:-
Lack of Stock
That usually is the first challenge, convincing your employer of buyers that you can find enough property listings. How to have a constant supply of properties to sell
Go To Property Expos: A regular spin of the property expos and/or the real estate events are so important. Cityscape Global is an example of such event which provides you the opportunity to meet with developers and purchasing new properties.
Network — Have business cards on hand and make sure your LinkedIn profile rifle reflects the most up-to-date information. Send them a personalized message within 24-48 hours after meeting to firm up the connection. Just return the favor on all accounts, real or not — good networking is mutually beneficial.
Are you selling what sort of property?
Get to know the different types of property stock in Dubai so you can ensure a balanced portfolio with the help o0f Property Finder Expert with the guidance of A Land Properties, what types of properties could you target to help set you up for success?
Residential: From extravagant villas located in Palm Jumeirah, apartment units available inside towering skyscrapers such as the ones inside Marina or budget-quality housing items situated in Jumeirah Village Circle. Residential Buildings are Private Ownership, the majority of residential properties is owned by private landlords or real estate developers.
Commercial properties: Consisting mainly of office spaces, retail outlets and warehouses situated predominantly in business centers such as Business Bay and Dubai Industrial Park. Mostly these properties are owned by business groups or big real estate developers.
Off plan properties: These properties are sold straight from the developers before they build. Due to the lower initial price and potential for significant value appreciation after property completion, off-plan properties can be very profitable. This is particularly lucrative when you buy off plan properties, given the low-investment initial stage and then an extremely high resale value. Correction: Finally, a lot of developers are willing to be sold to new agencies.
Date: 18th Nov, 2024
