A real estate agent puts into effect decisive outcomes in property transactions–buying or renting. You can get the best deal in a property transaction by hiring a real estate agent.
There is a possibility that a question might start playing in your mind–why should I hire a real estate agent when I myself can search and conclude a property deal?
Although your question has a valid ground, there are solid justifications for hiring a real estate agent.
With a real estate agent, you can effortlessly find the best property in dubai, as the agent knows every nook and corner of the property landscape in Dubai. Moreover, such an agent knows the tricks of negotiation to turn a deal to your favor in terms of maximizing your profit.
But things are not as rosy as that seems to be.
In addition to the variation in competency among different real estate agents, dishonesty makes it necessary to scan the agent before hiring. Many agents play different tricks to extract additional money from their clients.
Given the common dishonest practices, stating higher rental or property prices is one of the common tricks of the agents.
The underlying intent is clear–if an agent can close a deal at a higher price, he will get a higher commission.
It is not that only property buyers or renters are prone to the dishonest practices of real estate agents. Even property sellers are susceptible to the dishonest practices of the agents.
Again, overestimating the selling price for a property is an old trick agents have been playing on property sellers. The intent behind the trick lies in impressing the property seller so that he will hire the agent over others.
But, the landlord is likely to feel the pinch later, as the overpriced property might stay idle in the market for months, entailing losses for the landlord.
This is, however, one side of the story. On the other side, there are honest real estate agents who work professionally to serve the best interests of their clients.
Therefore, it is your responsibility to separate a real estate agent from a bad one. And, you should develop the prudence of seeing through the tricks of real estate agents.
So, here are a few powerful methods to choose the proper real estate agent in Dubai:
Take an Interview
After a casual discussion with a real estate agent, you should take an interview, treating it as a job interview. So, imagine yourself to be a recruiter, and the agent being the candidate. And, your job is to hire the best candidate.
Therefore, prepare a list of specific questions to elicit the experience, and history of the agent. Moreover, your questions should also address the working methodology of the agent.
Again, do not hire the first agent you interview. Make sure to interview at least three agents before finalizing one for hiring.
Do an online search, as that can help in figuring out the persona of real estate agents. The online profile of a real estate agent can tell a lot about his persona.
When you know the persona, you can figure out many aspects of the working methodology of the agent.
If you closely examine the website and the social media accounts, you can figure out a lot about how he works, and whether he will be the right fit.
Also, research if any news articles have appeared about the real estate agent.
Moreover, examine the online marketing channels the real estate uses, and how effective he is in reaching potential customers.
You should look at the license of the real estate agent. A licensed agent can be the one you can trust.
If you are moving to the United Arab Emirates, you should hire a competent real estate agent to make searching for a house easier for you.
Ask for References
You should always request written testimonials from previous clients, along with their contact information, from an agent. Ask a variety of questions to some of the agent’s previous clients, such as: Did the agent communicate effectively? In the selling process, did they properly guide them? How long did it take to sell their house? Most importantly, would they employ this agency again?
Finding a real estate agent with extensive local expertise is essential because every neighborhood has unique real estate issues.
In contrast to other business networks, the real estate professional network is different. Real estate brokers frequently discuss properties with one another and stumble onto hidden information in the process. Having access to that network will be quite helpful in your efforts to purchase a home because it is not an inner network of people that you are likely to travel in the same circles with. Ask your agent whether they are a member of any professional real estate associations that are relevant to your transaction.
The best real estate agent will have a track record of successfully selling homes in your neighborhood. They will be knowledgeable about things like where facilities are located, the surrounding area, and even how government restrictions might influence the sale.
They will be more familiar with the details of the local market than the majority of inhabitants, giving them an advantage when it comes to selling your property.
Benefits of Hiring a Real Estate Agent
The majority of real estate brokers can put a price on a house as soon as they enter into a deal. If they have a lot of market experience, they will also be familiar with how well a neighborhood maintains its worth.
Real estate agents have the expertise to determine whether a particular home is overvalued or underpriced. In addition, a real estate agent will figure out your preferences. Moreover, an agent is not likely to waste your time showing you homes that are not a good fit.
A real estate agent will be able to identify defects that you may not see, as well as recommend a good independent home inspector who will provide a detailed report on problems with the house.
The real estate market changes from week to week. Some changes are small like minor price fluctuations in a neighborhood, while others are more significant like interest rates. Each state, city and small municipality has their own real estate markets beyond what is happening on a national level. Real estate agents are constantly monitoring these changes for their buyers which keeps you informed of all of these volatile details so you can purchase your new home at the best possible time.
It is a good idea to hire a real estate agent if you are looking to rent or purchase a property in the UAE. With a real estate agent, things can become easier for you. But, ensure that you hire a competent agent.