However, some buyers do not consult an agent about buying a property in Dubai, so many of their queries are left unanswered, and that’s where our role comes in! Do you want your top ten Dubai Real Estate FAQs answered? Continue reading to learn all you need to know today!

          Real Estate FAQs: Real Estate Questions from Buyers

Based on our industry experience, we have compiled a list of the ten most frequently asked questions by customers. You will find answers to your essential queries here if you want to avoid knocking on the doors of property agents. You can always connect with our experts if you can’t find what you’re looking for or need more insights.

Here are the top ten Real Estate FAQs answered:

1. Why Should I Invest in Dubai’s Real Estate?

Dubai’s Real Estate market is transparent and it offers a high return on investment (ROI) for buyers and investors. It is the ideal market to invest in due to the following reasons:

Tax-free income.
Top-notch infrastructure and diversified economies.
High income from property, so much so that the income compares to London’s and New York’s.
High living standards and excellent living conditions.
Safe and secure environment, suitable for families.

2. How Long Does It Take To Buy a New Property in Dubai?

It takes around a month to complete the typical property transaction in Dubai. This period commences when the buyer and the seller sign the sale agreement.

3. Can You Guide Me Through the Buying Process?

Generally speaking, the buying process follows the following steps:

The buyer and seller finalize and sign their sale agreement. It includes various elements, such as:
The purchase price.
Additional expenses such as the agency fee, transfer fee at the DLD, the developer’s fee, service charge refund, etc.
The transfer date of the deal at the DLD.
Terms of payment.
Responsibilities and penalties for both parties if they fail to uphold the conditions in the agreement.

Both parties sign the Memorandum of Understanding (MoU), a sample of which can be found on the Dubai Land Department website. The buyer pays 10% of the purchase value upon signing the MoU.
The buyer applies and pays for a No Objection Certificate (NOC) from the Real Estate developer from whom they are buying the property. NOC is a required document from the developer, allowing the transfer of ownership and permitting the buyer to proceed with the purchase. The NOC is provided once the buyer makes all the service charge payments.
After obtaining the NOC, the buyer meets the developer or seller at the Dubai Land Department to get the new title deed, proving the buyer’s legal right to own the property. The buyer makes the complete payment of the property price through a cheque and obtains the title deed.

4. What Taxes Do I Have to Pay as a Property Owner?

This is one of the most common Real Estate FAQs, and since the UAE is a tax-free country, you do not have to pay taxes on the property. But as a property owner, you will have to pay annual maintenance and service charges. The payment frequency varies from one to four times a year, depending on the property.

5. Are Dubai Properties Subjected to VAT?

The Value-Added Tax, also known as (VAT), applies to sales of commercial property, which are subject to VAT at 5%. However, it does not apply to the following:

Sales or leases of residential property.
Leases of commercial property.

6. What Is a Freehold Property?

Freehold property is one that the buyer owns in addition to the land it is built on. This way, the owner is free to keep the property, lease it or sell it, as they have complete authority over the property and how to use it following the rules and regulations. The aim of these properties is to encourage foreign investments.

7. Can a Foreigner Have 100% Property Ownership in Dubai?

Even though complete foreign ownership was not possible in Dubai until 2006, the government has made new incentives allowing full foreign ownership. The short answer is: Yes, you can have 100% property ownership in Dubai. Foreigners can buy properties in free zones, such as Al Furjan and Palm Jumeirah and enjoy full ownership.

8. Can I Rent Out My Property in Dubai? What Rental Income Can a Homeowner Collect?

Yes, you can rent out your property in Dubai. The rental income depends on the property type, location, and service charges. The average net income (total income minus service charges) ranges between 5%-10% annually. It is also important to note that an expensive property attracts less percentage of rental income and vice versa.

9. Can I Close the Deal Without Involving a Real Estate Agent?

You can close the deal without Real Estate agents; however, it is highly recommended that you get an agent right from the start. The agents’ immense, up-to-date knowledge and market expertise help buyers, property owners, and tenants find a great deal. Moreover, they are the best players in closing a deal at negotiated prices.

10. What to Look For in a Real Estate Agent?

A Real Estate agent must fulfil a set of requirements, and they are as follows:

They must hold a proper trade license from the Dubai Department of Economic Development.
The Real Estate agent and the agency they work for must be registered with RERA. Once registered, the agency receives an Office Registration Number (ORN), while the agent gets a Broker Registration Number (BRN).
The Real Estate agent must have a certificate from the Dubai Real Estate Institute (DREI / IEREI) to register with RERA. They also have to pass a RERA administered professional test.
The agent must comply with a Code of Ethics issued by RERA.

So if you want to get a mortgage in Dubai, read below to find all you need to know about the subject: eligibility, documents and the process of getting one.

1. Eligibility Criteria for a Mortgage Loan

It is essential that you check whether you meet the eligibility criteria for getting a mortgage in Dubai. These criteria include:

Being a UAE national or resident.
Aged between 21 and 65.
Have a monthly income of at least AED 15,000 if salaried or AED 25,000 if self-employed.

It is important to note that you need to meet other criteria set by banks; they differ and vary from one bank to the other and they may include a minimum period served at a current job or working for certain employers. In addition, the minimum salary required for you to receive varies from one bank to the other according to the bank’s policies. If you are not residing in UAE, you have some options regarding loans to buy property, even though they are limited.

2. Documents required for a mortgage loan

The following points will clarify the mandatory documents required for getting a mortgage in Dubai:

A copy of the valid visa and passport.
A copy of the valid Emirates ID.
A salary certificate for proof of employment.
Proof of residence such as a copy of tenancy contract or DEWA bill.
Pay slips and bank statements for the past six months.
Your credit cards’ latest statements.

These required documents may differ from one bank to another, but the documents mentioned above are the most commonly required. If you are a non-resident, you will only need to provide the lender/bank with a copy of your passport and your bank account statement for the past three months. However, it is worth checking if your specific bank requires any additional documents based on its policy.

3. The process of getting a mortgage 

Getting a loan to buy a property in Dubai comprises many steps as outlined below:

          Finding a lender:

This is an essential step in the process. First, you need to find a bank to borrow money since mortgages in Dubai are sourced through banks and must be registered with the Dubai Land Department (DLD) to be legally valid. Depending on the types of mortgages and offers that banks provide, you can either search for one or simply hire a mortgage broker to find the best banks for your needs.

          Choosing the right mortgage:

Generally speaking, mortgages in Dubai are either fixed-rate or variable-rate mortgages, which means that the interest rate stays fixed for the entire borrowing period or changes over the same period. Additionally, there are many factors to consider when choosing the right mortgage. Here are some of them:

Your lifestyle.
The type of property you want to buy.
The loan amount you need.
The cash deposit amount you can manage to pay.

4. Getting a Pre-Approval Letter

A pre-approval letter is an official document issued by the bank that is financing your home purchase, in which it states that you – as a purchaser – is eligible to obtain a loan to buy property in Dubai. The letter also outlines the maximum amount allowed for you to borrow.

5. Finding your new home

You would look for a residential property before applying for a home mortgage, but you may face the challenge of not being able to secure enough financing for the home you chose through the chosen bank. However, some people look for the property only after getting the pre-approval letter. In this case, it is crucial to keep in mind that the letter is valid for 60 to 90 days, which is the time, the purchaser needs to find a new property, so you can also consider doing the same.

6. Finalizing the property purchase

When finalizing the property purchase, the bank financing your purchase may assign a property evaluator to gauge the value of your property, so to help you make a reasonable offer on it. Following the agreement on the price, you would pay a deposit, and decide on a date of completion for the purchase transaction. On the final day of the property transfer, the bank will release your loan amount to the seller.

          Conclusion

Getting a mortgage in Dubai to buy a residential property is an ideal option for many. If you want to get a loan to purchase property in Dubai, make sure you meet the eligibility criteria, provide the correct documents, and find a bank, mortgage and property that are right for you, so the process goes smoothly and efficiently. Also, remember that getting a loan is a commitment, so make sure you consider all aspects of your life and monthly budget.

Step 1: Decide on a budget

Before you start searching for rental properties in Dubai, you first need to set a budget to keep your own expectations in check. Make a list of your monthly expenses if you haven’t yet so you know how much you have left for rent. Don’t forget to factor in other costs such as the monthly DEWA bills and upfront expenses like security deposit and upfront rent.

Step 2: Think about your needs versus wants

Once you’ve nailed down how much you can spend on your dream home, it’s time for the best part – listing down your requirements! How do you envision your future home? Are you a family of 3 looking to rent a townhouse, or a villa, or a bachelor looking to rent an apartment? Do you have preferred areas? How many rooms do you require? While it’s true that you might need to compromise some items in the list along the way, having a criterion can still make your search a lot easier.

Step 3: Hire a trusted Real Estate agent

House hunting is undoubtedly a tiring and time-consuming process. To ensure that your house-hunting experience doesn’t transform into a nightmare is to work with a trusted broker. Some buyers and sellers may not want to use the services of a Real Estate agent. Their common cause is that they are attempting to save money. However, the skills and professionalism of a real estate agent – along with its extensive network of connection is unmatched and may even save you in the long run.

Step 4: Schedule a viewing

Once you’ve shortlisted your top picks, it’s time to schedule a viewing! Prepare your list of questions beforehand so you don’t forget or get overwhelmed once you get to the location. Ask about security measures and the building policies, available facilities, the noise level, nearby community areas, and even the parking situation. Don’t be afraid to be meticulous and examine every nook and cranny of the property. Keep in mind that you’re making a huge investment – make sure it’s one you won’t regret in the future.

Step 5: Make an offer

If you’re happy with the property, the next step to secure your Dubai rental property is to finalize the offer. Whether it’s a short-term or long-term arrangement, having a broker can make the price negotiations with the landlord a whole lot easier. They can also walk you through administrative tasks such as reservations, rental agreement registration, utility connection, and more.

Step 6: Register your signed tenancy contract with the Ejari

Once the tenancy agreement has been signed by both parties you can now start the registration of your Ejari which is a necessary online registration mechanism for all Dubai tenancy contracts. It guarantees that all private rental contracts are created lawfully and organized in accordance with a government-approved format and that the agreed rental fee is formally recorded to avoid any potential difficulties between landlord and tenant. Furthermore, enrolling Ejari is a necessary initial step in establishing Utilities accounts (DEWA for water and electricity, EmPower for district cooling, etc).

Here are the following documents that are necessary to submit to have your Ejari registration accepted by the office:

Signed copy of original tenancy contract
Security deposit receipt
Tenant’s Passport, if a non-GCC resident
Tenant’s UAE Visa, if a non-GCC resident
Emirates ID
Landlord’s passport
Copy of the designation deed of the rented property
DEWA Premises Number
DEWA bill and prior Ejari in case of contract renewal
Trade license, if the property is commercial

Final Step: Move in

Congratulations! You now have a slice of Dubai that you can proudly call “home”. Check the move-in policies of the community or the building management before you start hauling in your things!

          Renting Out Your Apartment: The Ins and Outs

Before you rent your house in Dubai, here are a few things you need to know:

Significant Profitability and Returns:

If you rent your house in Dubai, there is a high chance of yielding good money and income from rent, as residential properties witness high demand at all times in the Emirate since Dubai attracts an influx of people from many countries.
Good Source of Passive Income: Renting your house can give you a good source of passive income in Dubai, and since the market is growing rapidly, you can expect good returns.
Online Guest Booking Platforms: There are a lot of common platforms where you can list your rental property and rent it to suitable tenants. What makes these platforms especially beneficial is the features they provide property owners. If you own an apartment and you want to rent it out, you can set its availability dates and when it is open for booking, providing you with convenience and a passive income on your timing.

Ease and Trustworthiness of Regulations:

In Dubai, the government proactively manages the Real Estate market, including transactions and documentation, ensuring protection and security for property owners and tenants. With this in mind, renting out your apartment in Dubai should be a safe option as it is facilitated by governmental entities.

          Rules for Renting An Apartment in Dubai

Here are a few rules for renting out your apartment in Dubai:

Work With Registered Brokers:

You must work with registered brokers to avoid fake Real Estate deals and significant issues when renting out your apartment. So, check brokers’ ID cards and the brokerage firms they work for.

Consider the Rent Index:

You should consider the rent index set by the Real Estate Regulatory Agency (RERA), which lists guidelines regarding renting and pricing. For example, one rule states that an owner cannot increase rent if it is 10% less than other similar property values.

Intimation of Raising Rent:

According to the laws and to preserve tenants’ rights, property owners must give tenants a 90-day notice if they want to increase their property’s rent price.

Eviction Notice:

Property owners must give tenants a 12-month notice if they want them to move out; this notice period is an intimation to evict.
Register with Ejari:

Ejari is an initiative by the Real Estate Regulatory Agency (RERA) to regulate the rental market and tenancy contracts in Dubai. Therefore, registering with Ejari means officially registering your rental contract under Dubai Land Department (DLD) laws.

          Short-Term vs. Long-Term Contract: What to Choose?

Before renting out your apartment, you must choose between short-term and long-term contracts, as each type offers different benefits.

Short-term contracts benefit those looking to rent out their houses and apartments for a specific period. As Dubai is an international tourist destination, many tourists prefer to stay in apartments during their visits. If you want to benefit from the flourishing tourism in the Emirate, then short-term contracts are ideal for you.

On the other hand, long-term contracts are an excellent option if you are renting out your apartment for passive income or if you live abroad and want to rent your house and make use of it.

          What is the Dubai investor visa?

The Dubai Investor Visa is for foreign nationals who want to start their own business in Dubai or invest in an already existing one. This Dubai investor visa is valid for 2 years, and its holders have the right to live and work in Dubai as well as sponsor their spouse, children, and parents so they can enter the UAE.

The holder of the Dubai Investor Visa, also known as Dubai Partner Visa, is additionally eligible for the following essential services:

Applying for the Emirates ID card.
Opening a bank account.
Acquiring a UAE driving license.
Signing up for Etisalat or Du mobile and home packages.

It is important to keep in mind that the holders of the Dubai Investor Visa pay domicile tax for the UAE, and stop being taxable by the country of their nationality; however, that is subject to the investor’s home country regulations, so it is essential to be informed and updated about the latter as well.

         How to obtain the Dubai investor visa

There are four ways to obtain the Dubai Investor Visa and pave the way for a business, investment, and a living in Dubai, which are the following:

1. Visa by investment in residential property

The Dubai Investor Visa can be obtained through investing in residential property that is worth AED750,000 or above, with a maximum of 50% of the property value being under mortgage.

Moreover, you are also eligible to apply for the visa if you are investing in a jointly owned property, and each investor’s share makes up at least AED 750,000.

It is important to note the following:

The property must be a single residential property.
The property cannot be commercial.
You are only eligible for the visa if you are investing in a freehold residential property.
You cannot apply for the visa if you are investing in an off-plan property.
As for the duration of this visa, it varies from 3 – 5 years, but you are eligible to extend its duration to last for as long as you own property in the country.

If you have purchased a property of AED 750,000 or more, the three-year visa is available to you, while the five-year visa is available if you own property worth at least AED 5 million.

2. Visa by investment in a company

If you are not exactly inclined to invest in residential property, you have the appealing option of investing in a company in Dubai to obtain the Dubai Investor Visa. This can be done through investing in or starting a business either in Dubai’s mainland or its free zones.
These procedures are especially facilitated through 2,100 types of business licenses, which enable you to start a business in the mainland.
However, note that starting certain businesses in Dubai’s mainland may require the following:
A partner of UAE nationality who will be a majority shareholder, or:
An agent who will be responsible for liaising with government departments.

But since Dubai is constantly paving the way for you to work and live in it, as it is one of the most attractive cities and destinations globally speaking, complete foreign ownership of companies in Dubai’s mainland is finally possible due to recent changes in regulations, as the requirement of having a majority Emirati shareholder or agent for commercial companies has been cancelled.
The other good news is that you – as a foreign investor – can invest in companies in Dubai’s free zones without local sponsors or partners; in addition, companies are exempt from taxation, and foreign nationals can have full ownership of the company.

3. Long-term residence visa

This visa is surely tempting and appealing with what it promises: long-term residency. The individuals eligible for it meet an additional set of standards set by the General Directorate of Residency and Foreign Affairs-Dubai. The selected individuals for the long-term residency have specialized talents; they are scientists and innovators – for instance – in medical, scientific, research and technical fields. However, if you do not fall into the above-mentioned additional set of standards, you can still obtain a 5 or 10-year residency visa, based on the size of your investment in the country.

The 5-year residency visa is available for:

Investors investing in a property of a gross value of not less than AED 5 million.
Entrepreneurs with an existing project of a minimum capital of AED 500,000.

As for the 10-year residency visa, it is available for:

Investors of at least AED 10 million either through:
A deposit in an investment fund in UAE, or:
Establishing a company in the UAE with a capital amounting at least AED 10 million.
Investors partnering in an already existing or a new company, whose share value is at least AED 10 million.
Investors having a total investment of AED 10 million in all mentioned-above areas.

4. Retirement visa

This 5-year long visa category is especially dedicated for investors above the age of 55. It is applicable for the following:

Individuals investing in a property worth AED 2 million.
Individuals owning accumulated savings worth of AED 1 million.
Individuals receiving a monthly income of at least AED 20,000.

No matter what category you fall into, it is important to keep in mind that the process of getting the Dubai Investor Visa varies from one application to the other despite all of them aiming to enable you to live and work in Dubai.

          What is RERA?

RERA stands for Real Estate Regulatory Agency – the office that oversees the emirate’s Real Estate sector. It’s under the jurisdiction of the Dubai Land Department. If not for the RERA forms, estate deals in Dubai wouldn’t be as smooth and easy! Now that we’ve covered the origin of the forms, let’s get familiar with each one of them:

Form A – Agency Agreement / Listing Form

This is the first form sellers will encounter since it signifies that the property is ready to be listed for sale. Both the seller and the listing agent must sign Form A to make it official. Its clauses include the outline of the agreement, the property details such as financial information, mortgage status, and payment schedules, and instructions on how the property will be advertised.

If the property is jointly owned, all owners need to sign the form. There’s a limit to the number of forms you can sign, though. Seller/s can only fill out three Form As at a time, since the maximum number of brokers they can work with is currently three, although in our opinion it should be only one and  exclusive, in order to guarantee the best outcome for all parties involved in the transaction.

Form B – Buyer’s Agent Agreement

Anyone who purchases a property in Dubai – whether it’s residential or for office use – will be asked to sign a Form B. This formalizes the arrangement between you and your appointed RERA-certified Real Estate agent. You need to list down the following information in this form:

Property type
Property location
Your budget and requirements
Contract termination
Compensation percentage
Agency commission

Form I – Agency Agreement

If the transaction involves several agents, for instance when the property seller or lessor also has one acting on their behalf, Form I is brought out to ensure a smooth and professional relationship between both parties.

Form F – Memorandum of Understanding

Also referred to as the Memorandum of Understanding, Form F signifies that an agreement has been reached between the seller and the buyer. This is signed once the buyer shakes on the property and its price.

Since this is perhaps the most important form in the whole process, Form F is mandatory for any Dubai-based Real Estate transaction. It should include not just the financial details of the sale, but also the agreed upon commission of the agents. The seller, the buyer, and the agents all need to be present when signing the form.

Form U – Notice of Cancellation of the Agreement

If you decide to cancel the agreement midway through the transaction, you can do so by filling out a Form U. According to RERA law, the buyer can terminate Form B by signing a copy of this form. You’d have to provide a reason for the termination as well as the date of effectivity, and you need to notify your agent in written form as well.

Now that you’re aware of the different RERA forms necessary when buying a property in Dubai, what are you waiting for? Get in touch with us now and let us do the heavy lifting and save your precious time!

          Consider these steps for finding the right agent:

1. Compare Real Estate agents online

2. Get a referral

3. Check out the local housing market in person

4. Meet with at least three agents

5. Ask the right questions

6. Explain your communication preferences

7. Clarify your motivation to sell

8. Discuss selling strategy and number of showings

9. Agree on all the important details

          Checklist: What to look for in a Real Estate agent

⦁ Familiarity with the local area and neighborhood

⦁ Takes the time to become familiar with the features of the property he/she is selling

⦁ Approachable and friendly

⦁ Excellent reviews, plus professional handling of negative feedback

⦁ Local reputation of closing deals quickly and successfully

⦁ Creative negotiator and proactive problem solver

⦁ Has experience with your specific selling scenario

⦁ Listens to your needs

⦁ Provides you with an up-front quote

Popular services that sellers say were very or extremely valuable from their agents include their ability to find interested buyers (85%), their ability to guide sellers through the process of selling (80%), and their handling of contract negotiations (80%). But, while most sellers find it an advantage to use a Real Estate agent, nearly one-fifth say it is difficult or very difficult to find the right Real Estate agent (18%).

          Here are 10 tips on how to choose the Real Estate agent that’s the best fit for you:

1. Compare Real Estate agents online

One of the most efficient ways to find reputable agents in your area is to search on property portals for vetted agents and compare reviews and numbers of properties sold. You can also use other online search tools to check an agent’s online presence once you’ve narrowed down your top choices. Pro tip: Note how an agent responds to any potential negative or neutral reviews.

2. Get a referral

There’s nothing better than a personal referral from a friend or family member you trust. According to market research, more than one in five sellers (22%) find their agent because of a referral from a friend, relative, neighbor or colleague.

3. Check out the local housing market in person

If you have more time on your hands, drive or walk around your neighborhood and look for repeat agent names on Real Estate signs (bonus if there’s a “sold” sign next to them!). According to our research, 5% of sellers find agents from a for-sale sign, while 16% hire an agent based on knowing them from their community. Or, pop into a nearby open house and observe how the agent engages with potential buyers. Take the time to interact with the Real Estate agent — don’t just grab a business card and leave. Keep an eye out for personality and professional chemistry. Seven percent of sellers find their agents at an open house.

4. Meet with at least three agents

When hiring a Real Estate agent, don’t settle on the first agent you meet. Traditionally 56% of sellers only ever contact one agent, but by talking with multiple agents, you’ll be able to compare and contrast to find someone who will be a good fit. Handle it like a job interview — because it is! While you might have a front-runner based on a referral or local reputation, ask each of the three agents the same questions and compare their responses.

5. Ask the right questions

Get a sense for their business style by asking important vetting questions.

⦁ How long have you been working in Real Estate?

⦁ Do you primarily work with buyers or sellers?

⦁ How many active clients do you have at a time?

⦁ Are you part of a team?

⦁ What’s your specialty?

⦁ Are you equipped to handle my unique situation?

⦁ How will you market my property?

⦁ Can you put me in contact with some references?

6. Explain your communication preferences

Make sure you’re on the same page from the get-go. Discuss how the agent will keep you informed and how often you expect to hear from them. If you prefer email but the agent is most responsive to phone calls, you may not be a good fit for each other. Or, if you know you’re going to have lots of questions and expect quick responses, but the agent usually just sends bi-weekly updates, you may want to find someone who is a better fit.

7. Clarify your motivation to sell

Make sure you’ve made clear any requirements that are specific to your own property sale. Are you on a strict timeline? Need to reach a specific bottom dollar? Looking to fall within a particular timing window to? Make sure to share these details from the beginning so your agent knows what to expect.

8. Discuss selling strategy and number of showings

Make sure you and your potential Real Estate agent are on the same page about their selling strategy. Will you do open houses? How many showings do you want to do? How much lead time will the agent give you before a showing? How will the property be marketed?

9. Agree on all the important details

The best agent-seller relationships are those with clearly defined expectations. Make sure that, in writing, you’ve agreed upon the commission structure, list price, and contract length (i.e., what happens if your property hasn’t sold after a certain amount of time).

10. Understand your role in the negotiating process

This is by all means a team effort and you are both a client and a partner in the negotiating process. Unfortunately most sales-driven, commission-hungry agencies out there view their clients as “the product”, they use “bait and hook” techniques and treat this as retail business instead of full service enterprise. Having the right knowledge and being actively involved in all the steps and details, you are in the best position to control the outcome of the transaction and walk away with a positive experience.

Here’s where today’s sellers find their Real Estate agents, according to most recent surveys:

⦁ Referral: 31 percent of sellers
⦁ Past experience: 23 percent
⦁ Someone they know from the community: 13 percent
⦁ Real Estate website or app: 9 percent
⦁ Open house: 5 percent
⦁ Contact info on a for-sale or open-house sign: 5 percent
⦁ Referral from another agent or broker: 3 percent
⦁ Search engine: 3 percent
⦁ Social networking website or app: 3 percent

Regardless of how you find listing agents in your area, make sure you interview multiple agents — even if they’re referrals — to find someone who fits you personally. You’ll want to ask the right questions to create a great partnership. After all, there’s more to a great seller-agent relationship than just a high listing price and low commission.

How to find the best Real Estate agent from referrals

A referral is the most common way sellers find their agent, at 31 percent of sellers. Referrals are especially valuable because you can ask someone you trust about the specific agent, their style, what they liked about them and what they didn’t.

Ask friends, family members and coworkers

Ask around! People in your social networks are often happy to make referrals, but they’ll never know you’re looking for an agent unless you ask. When someone in your social circle recommends an agent, don’t just take a name — ask these questions to gain more information:
⦁ How did they set the price for your property? Was there any back and forth?
⦁ How was the showing process? Did they use a lockbox?
⦁ Did you get an offer close to your asking price? Did you feel pressured to accept?
⦁ How are their negotiating skills?
⦁ How long did it take to sell? Was it longer or shorter than you expected? Longer or shorter than the average in the area?
⦁ What’s their communication style like? Are they responsive? Will they communicate via text?
⦁ Is there anything you wish went differently?

Ask the neighbors

According to research, 13 percent of sellers hire an agent based on knowing them from their community. Focusing on agents you see working in your area can be a great way to find agents who are local experts.
Drive around the neighborhood and see which agents’ names show up on the most signs. If possible, ask those neighbors what they think of their agent. Note that their feedback could be dependent on where in the transaction process they are — the further along the better, because they’re more likely to have already seen how their agent handles the inevitable challenges and roadblocks that come with selling a property.

How to find a good listing agent from past experience

Licensed, full-service Real Estate agents can legally represent either buyers or sellers, although some agents may choose to specialize, focusing on one group or the other.
If you had a good experience with your buyer’s agent when you first bought your property and you’re confident they have experience as a listing agent, too, they might be a good choice. As mentioned earlier, 23 percent of sellers use an agent they have past experience with, which may or may not be a former buyer’s agent.

Benefits of using the agent who helped you buy

There are several pros to using an agent you’ve already worked with:
They’re familiar with the property, as they helped you buy it originally.
Since they work with buyers (like you once were), they probably have a book of buyers looking for properties. Just watch out for someone operating as a dual agent (where they represent both the buyer and the seller). This practice is generally considered unethical, as they can’t objectively represent both parties, but if you are comfortable with them, trust them and know they will work hard for the sale. They may even offer a discounted commission since you are a repeat customer.

Questions to ask a past buyer’s agent

Since you’ve only worked with this agent as a buyer, make sure they are qualified to work as a listing agent. Ask these interview questions:
⦁ How many listings have you sold in the neighborhood?
⦁ What sort of marketing tactics do you employ?
⦁ Do you offer professional videography or virtual tours?
⦁ What is your commission rate? Is it split evenly with the buyer’s agent?
⦁ What avenues do you have for finding qualified buyers?

Where to find a good Real Estate agent online

Fifteen percent of recent sellers reported finding their agent online. Twenty-six percent of millennials reported finding their agent online, compared to 17 percent of Gen Xers, 8 percent of baby boomers and 6 percent of the silent generation. First-time sellers are more than twice as likely to find an agent through online resources. Additionally, 23 percent of urban sellers find their agent online, which is higher than the 14 percent of suburban sellers and only 7 percent of rural sellers who do.
Here are some methods that sellers use to search for agents online.

Agent reviews

When you search reviews online, you can see what past clients said about a particular agent — this can be a very helpful tool. Millennials and Gen Xers find the most value in using online reviews, with 61 percent and 51 percent ranking them extremely or very important, respectively. Whether you’re searching from scratch or vetting an agent referral, checking reviews can help you get a feel for an agent’s style. And in our current online-driven marketplace, all quality agents have some kind of online presence, so it shouldn’t be too hard to research the agent that a friend or family member recommended.

Social media

Social media sites can provide a wealth of information on Real Estate agents. Search “Real Estate agents” on Facebook or LinkedIn, and you’ll see plenty of results from agents in your area. When researching a Real Estate agent on social media, you’ll want to not only look for reviews but also take a look at their social media strategy overall. For example, if you can’t even find a Facebook page for the agent you’re researching, how can you expect them to market your listing to the thousands of active buyers who are on Facebook every day? Presence and network are crucial for agents.
In addition to Facebook, scope out their Instagram and LinkedIn pages, paying attention to their branding, how they talk about the listings they have, how many followers they have, how many likes their images receive and the quality of the content they share. All the same strategies matter, whether they’re promoting their own services or promoting your property.

License lookup

Another way to vet your Real Estate agent is to make sure they’re licensed by the proper regulatory agencies. Dubai has a searchable online database of every active licensed Real Estate agent and brokerage.

          What skills to look for in a good Real Estate agent:

Open communication

A great agent knows the importance of good communication with their clients. That means they clearly set expectations, field questions whenever you have them, take calls when you need their help, provide feedback on everything from pricing to home improvements, and give suggestions to help you get the most money from your sale. It’s no wonder that 85 percent of sellers say that responsiveness is extremely or very important.
In addition to their communication with you, a listing agent also needs to be skilled at communicating with the buyer and the buyer’s agent. They should speak clearly during negotiations, communicate your wants and needs, and avoid making false promises to move the deal forward. They should be as responsive to the buyer’s agent as they are to you, promptly answering calls and quickly responding to showing requests.

Professional reputation

The best Real Estate agents operate a retention – and referral-based business, which means that most of their clients are repeat buyers and sellers or people referred by friends and family members. These agents are likely to have outstanding online reviews on sites like Google and Facebook. According to surveys 28 percent of sellers learn about their agent from a friend, relative, neighbor or colleague, and 23 percent have worked with the same agent before in some capacity.
A great agent will also have valuable recommendations for Real Estate stagers, contractors and other vendors who can help you get your home ready to sell.

Local market knowledge

A good agent will know what sells in your area and will know how to highlight your home’s best features to get top value. They’ll also be aware of the trends in your market and can help you determine the best circumstances to sell for more money and in less time. Research shows that 80 percent of sellers look for an agent who is an expert in their local market first.

Strong marketing strategy

Professional photography and videography: Really good agents include the services of a professional photographer in their commission fee, and sellers recognize the value in this offering. Sellers ranked having high quality photos and videos taken as the third-most valued service agents offer.
Social media marketing: Today’s top agents have a strong social media presence and are eager to post your listing on sites like Facebook, YouTube, TikTok and Instagram. Seventy-one percent of sellers agreed that social media marketing was an important thing for their agent to handle.
Willing to host open houses: 80 percent of sellers say hosting open houses or private tours is a valuable service. A good agent should offer to host an open house soon after your home is listed.

          What character traits make a great Real Estate agent?

In addition to their service offerings and Real Estate industry-specific skills, the best Real Estate agents are dedicated, determined and eager to help. Consider these top character traits that sellers rank as extremely or very important.

Trustworthiness

Trustworthiness is the top quality sellers say is important in an agent — it’s extremely or very important to 86 percent of sellers. A trustworthy agent won’t try to persuade you to work with them by giving you an unattainable listing price. They always set reasonable expectations, outline their responsibilities and give you time to review the listing agreement before deciding to work with them.

Sincerity

Great agents are always honest, even if it means saying things you don’t want to hear — like your home isn’t worth what you think it is or that it needs improvement. They build a relationship with you based on honesty and keeping your best interests at heart.

Integrity

Top agents put their seller’s needs above their commission. That means they will go above and beyond to move a deal forward, whether they’re physically pitching in to help get your home staged or buying a new light fixture the buyer wanted.

Work ethic

Real Estate is not a nine-to-five job, and a great agent understands and embraces this. They won’t resent clients for reaching out to them outside of traditional working hours, and they won’t take off for a vacation without telling you.

Empathy

Good agents know that sometimes plans change and not every deal works out. They’ll understand if you decide to take your home off the market, and they won’t hold you to the commission agreement if you have a change of heart.

          What makes the best Real Estate agent for you?

Services, skills and traits aside, the best Real Estate agent for you depends on your goals, your communication style, the level of support you need and your personal values. And the right agent for you isn’t always the right agent for someone else. Consider these additional attributes that can help you decide if you’ve found the right agent.

Personality match: You want an agent that “gets” you. You communicate easily with each other, they can adapt to suit your needs and you generally have a friendly, comfortable rapport.

Attentiveness: The right agent for you understands how much support you need and is honest about what they can and cannot offer. Many sellers, especially first-time sellers, are looking for someone to hold their hand and answer many questions about the process. In fact, 84 percent of sellers said they rely on their agent to guide them through the process from start to finish. Some sellers, especially the ones who have sold before, may just want an agent who can take the reins and get the house sold without much back and forth.

Similar values: 76 percent of sellers say it’s important that their agent respects their personal values.

Financial flexibility: Sellers often look for agents who are willing to negotiate their commission rate or create a custom agreement that will help them sell in a way that meets their financial needs.