In 2022, property transactions in Dubai reached a record-high figure of AED 500 billion (USD 136B). Such a consistent and sharp increase in Dubai’s real estate market is a result of different factors.
Firstly, more and more ex-pats are looking towards Dubai as their home. This is because of the safer economic environment and opportunities the emirate has to offer. Consequently, Dubai has become highly attractive for real estate investors who want to build profitable assets in a flourishing city. This trend has created highly-rewarding circumstances for real estate agents conducting business in Dubai.
If you are also an aspiring realtor and want to establish your name in the industry, here is how to be a successful real estate agent in Dubai.
We will discuss some proven tips for becoming a successful real estate agent in Dubai. These tips will discuss everything from the prerequisites to the best practices.
Lastly, we’ll discuss how much you can earn as a real estate agent in Dubai.
9 Expert Tips on How to Be Successful Real Estate Agent in Dubai
1. Pick the Right Brokerage Firm
The first step is to choose the right brokerage firm that promises steady career growth. There are many real estate firms in Dubai, and more are opening up as we speak.
The key is to take your time with research and choosing a firm with trustworthy experience, positive reputation, good commission structure, supportive administration, reliable marketing, and dependable insurance.
You should also look at figures and statistics such as client testimonials and the properties sold/ rented. Choosing the right brokerage firm will prevent you from many early-career losses and help you lay solid career foundations.
2. Get Registered
Once you have picked your brokerage, it is time to address the legal side of things. To conduct real estate business in Dubai, you must register as a broker with the government. The process is simple, and your brokerage firm will guide you through it.
However, here are a few steps to take to become a certified real estate agent in Dubai:
- Get a certified training course designed for real estate agents and offered by the Dubai Real Estate Institute (DREI).
- After learning the contents of the course, take the exam to become a registered real estate agent.
- After passing the test, apply for and acquire the good conduct police clearance certificate from the Dubai Police.
- RERA (Real Estate Regulatory Agency) will now issue you a broker card through your brokerage firm. This card will be valid for one year.
3. Learn the Local Laws
Understanding the local real estate laws and knowing them like the back of your hand will prevent you, your clients, and your firm from getting into legal trouble. Before you start providing services, learn buying and selling laws, lease laws, rental contract laws, and other relevant laws.
For example, you should know that if you have a RERA-issued card, you can only work in Dubai and not other emirates.
4. Build an Extensive Network
It might sound like an exaggeration, but networking can be the biggest source of leads for real estate agents.
According to a survey and interview of more than 400 real estate agents (in 2016), respondents said that 34% of their business resulted from their networking efforts. This applies to Dubai’s real estate market as well. Here are a few important things you can do.
- Connect with other real estate agents, sellers, renters, potential buyers, appraisers, and mortgage loan officers.
- Develop a reputation for yourself by offering excellent customer service and satisfaction, as it will play an important role in referrals and word-of-mouth marketing.
- Take advantage of your real estate firm and connect with people who can either teach you something new or refer you toward more opportunities.
5. Use Marketing Channels to Your Advantage
Use all the traditional and modern marketing methods at your disposal to put yourself out there. This can include cold calling, attending local events, social media marketing, digital advertising, email marketing, client testimonials, email newsletters, lead generation, etc. Your firm may also help you market yourself through its extended network of buyers and sellers.
You can also reach potential buyers by creating content on social media that is useful for buyers and sellers. An example would be to start a YouTube channel or a blog where you discuss common real estate issues in Dubai that clients face and how to solve them.
6. Become an Authority in your Area
You can develop authority in your respective area by learning about it extensively. Learn all you can about the things potential clients may be interested in, such as the community, malls, schools, transport, medical facilities, and essential amenities.
You can also move to the area you want to specialize in to, connect closely with the people living there, and get an inside view. This will allow you to convert potential clients more efficiently, as you’ll be able to answer really specific questions they might have.
Becoming an area expert will also make you the go-to person for people who might have questions, even if they don’t want to buy just yet. This way, you’ll build a good reputation and capture the real estate market in your area.
7. Client-focused Pricing
Study and analyze market trends for a pricing that is profitable for you and good for your clients. The goal should be to offer the best price possible to your clients, as it will keep bringing more and more business. Make sure to focus on the long-term effects of your pricing rather than one-time deals that seem profitable.
8. Be all for the Client
As a real estate agent, you should do your best to represent your client. It means giving them your total attention, empathizing with their problems, promising only what you can deliver, caring about their money, and having an honest, friendly, and highly professional attitude.
All these things will give your clients the utmost confidence in you and your services. It will also help you jump the competition in a short span.
9. Stay Up to Date
Another way to become an authority in your market is to stay updated with the latest market trends, real estate news, and emerging changes.
Learning these things will always keep you prepared to answer any innovative or out-of-the-box questions your clients may have, strengthening your position as an expert in your field.
How Much Does a Real Estate Agent Earn in Dubai—Real Estate Agent Salary in Dubai
According to Indeed.com, on average, a real estate agent salary in Dubai is AED 4,569 monthly. These figures are cumulative of 323 salaries reported till April 11, 2023. However, you should also know that real estate agents in Dubai generally work on a commission-only basis. So the question should be:
How much is real estate agent commission in Dubai?
A real estate agent’s commission in Dubai depends on many factors, such as the agent’s experience, property value, and negotiation skills. Furthermore, there is no fixed commission percentage stipulated by Dubai RERA.
Generally, commissions can range between 2%-3% or even 5% of the property’s value. It means that if you’re fixing a deal of AED 1 million, you can make anywhere between AED 20,000-30,000 in commission. Therefore, the more deals you make in a month, the better your earning potential as a Dubai real estate agent.
Due to these reasons, it is hard to give a fixed figure regarding how much a real estate agent earns in Dubai.
How to become a Successful Real Estate Agent in Dubai; Final Words
Becoming a real estate agent in Dubai begins with choosing the right firm and registering yourself. From there, you develop professional best practices and build a strong network to help you secure more and better clients.
One thing is sure; Dubai’s real estate market has remarkable potential. The emirate is dedicating more and more efforts to becoming a world-class metropolitan, rivaling London and New York in terms of economic activity. This means that if you’re a real estate agent in Dubai, you are on track to having a highly successful career for yourself and a comfortable life for your loved ones.
You can also read our step-by-step guide on how to become a real estate agent in Dubai here.