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Do I need a real estate agent in Dubai?

Do I need a real estate agent in Dubai?

Do I need a real estate agent in Dubai? Well, if you decided on a “do it yourself” strategy for selling your home, think again.

Selling your home is a big milestone in everyone’s life, an important transaction you are supposed to get the best out of. But you might face into many pitfalls if you try to navigate the process alone.  Selling without an agent is counterproductive and leaves you open to many risks. It might be tempting to try and sell your home by yourself in order to save money but it often goes wrong. Selling your home, the proper way is not something you can afford to fail at. Probably the biggest challenge you face selling alone is navigating all the legal requirements and regulations. So, do not underestimate the experience and expertise required for the process.

Therefore, below we explore some strong arguments as to why you should consider having an expert agent act on your behalf.

Qualified experts

Find an agent who lives and breathes real estate. There are many out there. Look for an expert who can maximize exposure for your property and negotiate the best deal. Choose someone who is totally on your side, willing to invest the time and expertise necessary to deal with such a complex transaction. A good real estate agent will prevent you from letting your emotions sabotage a good deal or drive away a good buyer because of your personal ego. They know how to qualify a good buyer as opposed to those who are only speculating. Furthermore, they will create urgency for the sale, push hard but also hold back when necessary.

Common errors

You are selling your home, so for sure there is emotional attachment involved, which can ultimately cloud your judgment. Besides, will you be able to invest the time, energy and show proper negotiation skills during viewing stages? These are only some of the common errors. But there are many more mistakes you might be prone to make along the way. For example, not properly marketing your home or not creating the right impression because of clutter or pending repairs. An agent by your side will make sure you offer your property to the market in the best possible light. Maybe your house needs a fresh coat of painting or the garden needs revamping?

What if you underestimate or overestimate your property value?
If you go too high, you risk major delays in selling or even lose a good sale. If you undervalue the property, it will probably haunt you for the rest of your life. The advantage of dealing with an agent is that they can estimate the exact value and market price. Furthermore, they have access to data about similar sales that the public has no access to.

Are you fully equipped to deal with potential buyers?

Sellers often don’t have the time to make themselves available to potential buyers and their schedules. This is one of the reasons sellers miss out on a good deal and it is also where the need for an agent becomes obvious. Being available for viewings and endless calls and questions is a daunting task for the seller. Especially if you try to juggle a full-time job, family, and other commitments, you will not be able to keep on top of things. Furthermore, can you single out serious prospects and eliminate time-wasters who are just curious?

Documents knowledge

If the seller is acting alone and does not have in-depth knowledge about contract terms for the sale, they can find themselves at a great disadvantage. You might get carried away with excitement over receiving a great offer, but are you familiar with Form F or MOU – memorandum of understanding? So, you have an offer in hand and you think you have reached the final stage of the process. But truth is, paperwork is only just beginning. Once you agree on the sale price, there are procedures in place to ensure a successful property transfer. You need to have a clear understanding of each contract clause and this is where a professional expert should take over.

Do I need a real estate agent in Dubai? Advantages

Most sellers agree that a good agent is priceless in helping to negotiate the best price for their home.

Negotiating the best price is a matter of impeccable skills and diplomacy which agents acquire throughout years of experience. They are constantly connected to the pulse of the market and know what is worth negotiating for. Furthermore, they can step in if you get emotional or offended by a very low offer, or if you give in to a quick sale because of pressure. Professional real estate agents are great at networking and hold a long list of relevant connections in the field. Therefore, they will quickly spread the word and use every connection to market your property.

At Off Plan Finder, our highly qualified agents will always look out for your best interests. You can search and choose one of our experts according to their area of expertise, nationality, and even languages they speak. Furthermore, their achievements history and list of awards are proof enough that you can rely on Off Plan Finder to get things done.

Do I need a real estate agent in Dubai, and who pays the commission?

It is a common market practice that agents charge 2% of the total sale amount and only the buyer pays the commission. RERA in Dubai has not yet set a very clear standard percentage around the commission amount and which party is liable to pay it.

However, RERA makes it very clear that agents can charge both sellers and buyers for commission. This is perfectly legal only if both parties enter into this agreement. Furthermore, agents’ fees in UAE are way lower at 2%, comparing to Europe or America where they charge 6%.

 

Long term visas to boost Dubai’s Real Estate

Long-term visas will boost Dubai’s Real Estate. It’s a fact.

Everyone welcomed the new Government initiative to implement long-term residence visas for foreigners. This measure will promote Dubai’s global image as one of the most investor-friendly countries in the world. Million expats and investors choose Dubai as their home or business headquarters because it is safe and profitable. Dubai has the fastest growing economy and is rapidly turning into the strongest commercial and financial hub of the Middle East.

Furthermore, expats represent a large portion of UAE’s private sector and their residency is subject to their employment status. Therefore, in 2019, the UAE adopted new visa measures to foster foreign investment and encourage expats to legally settle in UAE long term. Foreigners can now obtain long-term residence visas providing they add value to the economy and invest large capital in UAE.

What is a long-term residence visa?

If you qualify for a long-term residence visa, you can live, work and study within UAE without the need for sponsorship. Furthermore, you can now have 100% ownership of your own business without the need for a local sponsor. A long-term visa will be issued for five or ten years and will be renewed automatically. Similarly, if you own property to the value of AED 1,000,000, you qualify for a three-year visa programme. Secondly, those who invest AED 5,000,0000 in property, will qualify for a five-year visa. Thirdly, those who can afford to invest AED 10,000,000 in the UAE economy will be granted a ten-year visa. Holding a ten-year visa allows you to sponsor your spouse and children, as well as a business partner and one executive.

Subsequently, highly accomplished individuals with a great talent for arts and culture will also benefit from long-term visas. Students with outstanding performance, innovators, and entrepreneurs are all welcome to apply for a long-term visa if they meet eligibility criteria. You can check for qualifying conditions via governmental online portals ( https://u.ae/en/information-and-services/visa-and-emirates-id/residence-visa/long-term-residence-visas-in-the-uae )

Long term visas to boost Dubai’s real estate: New plans, new horizons

The new regulations allow 100% ownership for foreign investors, thus increasing the appeal for businesses and families to settle in UAE. Following the present process, investors can now fully own their business without Emirati stakeholders. The decision is effective since June 1st, 2021 and many are benefiting already across sectors such as general trade or contracting. Investors can apply via the digital platform “Invest in Dubai”. There are no additional fees or additional capital required to benefit from 100% ownership.

There is a full list of available activities open to 100% ownership, and you can view it at:

https://ded.ae/DED_Files/ded_other/Full_Foreign_Ownership_Activities.pdf

This opens up new horizons for Dubai’s economy, emphasizing the ease of conducting business and expansion of trade and commerce within the country.

Market rejuvenation

Residents welcome the reforms and initiatives which will rejuvenate the economy and the real estate sector.

The UAE economy and particularly the real estate market will see a positive impact following the implementation of long-term visas. Dubai is already an attractive destination for expats seeking high living standards and an attractive lifestyle. Moving forward with these flexible reforms will create market loyalty and long-term perspectives for residents who can finally call UAE their home.

Market rejuvenation is also visible across retail, hospitality, and health care. Long-term visas can influence spending decisions for residents and for investors who look for long-term capital gains.

Benefits

The longer expats remain in the UAE, the longer the economy can benefit from their contribution.

If you choose to settle in Dubai with your family, you will need more permanent accommodation. Therefore, you will look into buying real estate. Similarly, businessmen looking to establish their offices in Dubai will invest in commercial real estate, boosting the public sector. The property market will thrive under new visa rules when expats adjust their long-term view of life and start investing more in family homes. Subsequently, holiday home sales will also increase as a result of long-term visa reforms. Since Dubai is such a popular spot for holidaymakers, it will be the ideal location to invest in a holiday home to spend the winter season here.

UAE’s measures are exemplary, making it easy for people to settle in Dubai long-term, thus turning renters into buyers of properties. A great demand is currently visible in villas and townhouses worth up to AED 5,000,000, indicating huge interest for the family segment.

Retire in Dubai

Residents over 55 years old can now apply for long-term visas through property investment. You can obtain a five-year visa based on earnings over AED 20,000 a month. Alternatively, if you own a property worth AED 2,000,000 in UAE, you also qualify. The initiative will increase the appeal of senior residents to retire in UAE, offering a strong sense of security to older expats. They will be more motivated to invest in buying homes. Dubai is strongly competitive when it comes to retirement destinations. It provides sunshine all year round and is one of the safest cities in the world. The retirement visa fee is around $1000 and covers the issuance of Emirates ID as well as a medical exam.

UAE leadership has always been one step ahead in implementing liberal, strategic ideas. Such measures positively impact the socio-economic landscape of the country as well as the Middle East. The decision could generate a chain reaction for other states, to follow suit. Not only that, but it will also attract a fresh influx of property investors.

Six Strategies for successful real estate investing

Six Strategies for successful real estate investing offers you guidelines on how to maximize your profits.

Dubai is one of the most popular cities in the world for tourism and lucrative real estate investments. It stands on a lot of opportunities and a solid property market that is growing at a fast pace. Dubai is paving the way for a very promising, successful future, a profitable economy, and a significant real estate portfolio. The property market has generated more profit than many other industries in UAE, in spite of the pandemic slowdown. With Expo 2020 just days away from the grand opening, we can expect a return to pre-pandemic levels for the property sector.

The city is thriving on endless ambitions, offering a great platform for worldwide investors and first-time buyers. Some might think you need substantial capital to enter the market. However, the assets are very accessible. For example, you can join the investment pool for as little as 400,000 dirhams. Furthermore, the highly regulated industry has strong legislation in place to protect investors’ interests.

Be financially prepared and well informed

Before you get carried away expecting a high return on investment, get to know the current market and pick the most suitable property for yourself. There are many strategies you can apply that can lead to great success. But, at the same time, there are no guarantees. It all depends on the market demand and your choice of property. You must have a clear understanding on how some properties perform in some locations, as opposed to others. Is the demand high or not in your area of interest? Similarly, are you monitoring the rate of ROI in that particular zone? Furthermore, research and analyze price performance for the last three or four years, and talk to qualified professionals who have strong expertise in the area.

Six strategies for successful real estate investing

Keep it simple

Moving on, are you financially stable enough to buy or finance the property? Are you prepared to make a cash down payment, secure a loan or dip into your savings to invest in real estate? Also, how long are you prepared to wait for the asset to gain capital value over the course of years?

It is best to start small rather than go big and keep it simple by minimizing your expenses. Once you establish yourself on the market with some great passive income, then you can start building your real estate portfolio into an empire.

1 Direct Investment – Long-term rentals

A simple, basic, traditional investment in real estate starts with buying your own property for rentals. When you become an owner and subsequently a landlord, you need to make sure that the rental payment will cover your mortgage and maintenance costs, which as a landlord you are liable to cover.

Whether you decide to lease out long term or short term, make sure that once you reach the resale stage, you get maximum returns. Rental investment is safe because demand for affordable housing is a constant reality and the flow of visitors and expats relocating to the UAE is on the increase. Owners will always benefit from that.

When you enter into a long-term rental agreement, both parties need to sign a contract committing to their obligations and contract clauses. Usually, the contract duration concludes after a year and both parties can renew. The contract protects the interest of both owner and landlord. For instance, if the tenant vacates the property before the end of the contract, they will be liable to fines. In addition, the landlord can evict the tenant for failure to pay rent or for other illegal activities on the premises.

2 Short term rentals

In the case of holiday or short-term rentals, the owner needs to obtain a license from DTCM – Department of Tourism and Commerce Marketing, in exchange for AED 1,500 fee.

Such type of investment is very popular as it generates up to 13% profit but does not come without certain issues. To avoid complications and property damage, the owner needs to consider registering with a reliable management company. They will oversee the smooth process of all operations from check-in to check out and cleaning the premises. Companies usually charge 20% of the total profit for their services.

3 Fix and Flip Investing

Some investors buy distressed properties and hold them for a short while, with the intention to sell them for a profit soon after. This can be a short-term cash investment but it does not come without risks. However, it comes in handy with undervalued assets which do not require ample fixing or renovating. Otherwise, your profit margins could be compromised, if you are stuck with the property in a bad market and cannot resell it.

4 Commercial Real Estate Investing

Retail space and offices will always be in demand in UAE, as more investors come to these shores to open their own businesses. If you can afford to buy commercial properties, you can benefit from leasing the space to other companies who tend to remain longer in one location as opposed to individual tenants.

5 Off-plan resells

Part of the six strategies for successful real estate investing is the off-plan resells. This strategy is very common with investors in Dubai. Buying property under construction and selling it for a higher price once the project is completed means more money in investors’ wallets. Furthermore, off-plan buyers only pay a 10% deposit upfront. This is a good platform for starting with small capital. Later, you enjoy the benefits when the market price increases and the property is ready for resale.

6 Real Estate Investment Trusts

This model does not involve any hands-on management, since it takes place on an online platform. Buying into REIT allows investors to buy into a liquid real estate portfolio through shares. The investment trust then distributes the profits to all shareholders. You do not have to fully buy or manage any of the properties, since you will buy and sell the shares on an open market. REIT is a group of companies that own and manage real estate assets. Investing in shares allows you to make a profit based on the performance of these assets.

 

 

 

 

Buying off-plan property in Dubai

Buying off-plan property in Dubai: The pros and cons.

The real estate market is offering a wide variety of investment options and attractive payment plans. The current market serves as an ideal platform for real estate investments.

Similarly, homeowners can choose between commercial, residential, ready property, or off-plan projects. However, you will need to document yourself on all aspects regarding your next property purchase, to make sure you reach an informed decision. Your investment objectives have to be aligned with your financial circumstances and long-term plans. Secondly, it is wise to plan carefully around current market knowledge and seek professional advice from qualified brokers and financial advisers.

What is off-plan property?

If you choose to invest in off-plan property, you need to first have a clear understanding of what off-plan means, terms, conditions, and benefits associated with this investment. As the name indicates, off-plan properties are pre-construction properties that are not completely built and handed over. Therefore, they are not ready for occupancy. Investors who usually purchase off-plan do so with a clear intention to resell or lease out the property, once it is completed. Off-plan properties are available to purchase during the construction phase, or before completion. Furthermore, prospects are keen on such investments, especially if they want to secure a future property in a high-demand area. Similarly, capital gains resulting from the purchase are also attracting investors to off-plan. Buying with discounts and selling at the height of the market is any investors’ dream.

Why Choose an off-plan Property Investment?

The “buy now & pay later” off-plan game can be a very attractive incentive. Investing in a property before completion time increases chances for long-term value growth. Also, purchasing off-plan might increase prices for other surrounding properties, which will ultimately benefit the investor. If you decide to build up your investment portfolio with off-plan property, you can count on the reliability of these assets to deliver on their value.

Normally, the buyer has to pay around 10% or 20% deposit out of the total property value. Subsequently, they need to sign a Sales Purchase Agreement.

Buying off-plan property in Dubai: Advantages

As a real estate off-plan buyer, you will benefit from the flexibility and potential of your investment on many levels. For example, you will have first choice to select your favorite, brand-new unit, as opposed to ready property. Developers offer many perks for off-plan property buyers. For instance, the freedom to select your favored layout or a furniture package included with the property. Furthermore, you will buy below market value, as the unit is under construction. Another benefit is the attractive payment plan that the banks offer for the purchase of off-plan. Some developers waive off DLD charges or offer substantial discounts for service charges. It all adds up to help you save more, in the long run. Buying off-plan guarantees you a brand-new build that will bring good ROI upon completion.

SPA

Before you sit down to sign the sales and purchase agreement, you have to take your time and read over the contract with eyes wide open and sharp clarity around all clauses. Signing this agreement is an indication that all parties have reached a consensus and are finalizing all terms and conditions. The SPA should clearly state all the amenities and services that are included with the purchase. Furthermore, the developer cannot make any changes to same or remove any amenities from the SPA.

Be very clear on size, area, and furniture included if you do decide to go for a furniture package deal. More importantly, if you buy a villa or townhouse, make sure to understand the distance between to rows separating the properties. Also, balcony or terrace size can sometimes turn out to be smaller in reality than on the actual floor plan.

Important clauses

The SPA should state a clear date for completion of the property and a clear date for handover. The two should not be mixed over or allow room for any confusion. Project completion does not mean you will be handed over keys to your property. Therefore, the handover date is when the developer has to transfer everything relating to your property to you. These are two separate scenarios. Additionally, a SPA agreement should make it clear that the buyer is liable to start paying service charges only upon receiving the keys, and not a day sooner. The timeframe between the completion date and handover date should be clearly visible while you read through the SPA.

Similarly, the developer will incur penalties for delays and for not delivering the project on time. The penalty clause should also be clear to all parties and included in the agreement. Above all, the most important SPA clause should state that the developer is never at liberty to change the terms of the agreement if and when you decide to sell your property.

Buying off-plan property in Dubai: Disadvantages

As with any investment, you might have to face certain disadvantages associated with purchasing off-plan. The most common inconvenience is that the project can experience delays for various reasons. This is not unusual in the construction field. Moreso, in some cases, the project will even be canceled. So where does all that leave you, as a buyer? Therefore, it is crucial to research the developer’s credentials and reliability, before deciding to buy. Do they usually deliver projects on time, how is their track record? How will they handle delays and how will they compensate you, if need be?

RERA has strong regulations to support losses for off-plan buyers. In order to protect your finances, legislation requires developers to deposit the payments from the buyers into an escrow account. Developers will only access funds in the escrow account once the project reaches near completion stage.

Ultimately, it is a waiting game for the profits. You will have to wait for the completion of the property before you even contemplate a return on investment.

 

 

 

 

Dubai properties for under AED 1 million

Dubai properties for under AED 1 million  – an area guide for affordable investments.

If you had one million Dirhams to spare, would you invest it in a villa or apartment in Dubai? One might think there are not many options to buy residential properties under 1 million. However, you will be surprised at how many top villa communities offer properties under 1 million in Dubai, in the current market. So, if you consider becoming a homeowner or wish to invest for profit, the mid-market segment will offer a variety of affordable properties across the city. Gated communities cater to all needs and preferences. So, your next 1 million Dirhams investment could turn out to be the best decision for your wallet.

This is the ideal time to buy, as property prices are still relatively low. However, there is a strong expectation for property prices to increase, as Dubai recovers from the pandemic and hosts the Expo 2020 event on 1st October.

Dubai properties for under 1 million: Apartments

Business Bay 15th Northside

Lifestyle at 15 Northside will be worth more than a million for sure. The new residential project has ample views over the Downtown area and highlights the greatness and convenience of waterfront living.

For under 1 million Dirhams, you are sure to get top-class comfort and enjoy the best amenities. 15 Northside rises beautifully over Dubai Water Canal, boasting the finest views and best living spaces. Furthermore, you will have direct access to the Canal boardwalk with a long string of Cafes and restaurants. If you wish to chill in the infinity pool overlooking Burj Khalifa, then this building is something to consider.  For AED 930,000 can buy you a one-bedroom flat, stretching over 595 sq. ft. with contemporary features and a convenient layout.

Downtown District

Our next nominated property for under 1 million dirhams takes us Downtown. Firstly, Downtown is “the center of now”, one of the most famous areas in Dubai. Secondly, Downtown brings you at the heart of what Dubai has to offer. From a business and tourist hub to leisure and best shopping experiences, Downtown attracts families, investors, and professionals. That is why they all seek investment opportunities in this area.

Damac Maison Prive

Damac Maison Prive is a twin-building hotel with serviced apartments. Directly overlooking the Dubai Water Canal and skyline, Prive is right at the center of all action, a few minutes away from Dubai Fountains and Marasi Marina. The twin towers offer a collection of studios along with one- and two-bedroom apartments. Similarly, residents will benefit from personalized services, including 24-hour valet, security, and maintenance on-site.

For AED 650,000, you can buy a fully furnished studio covering up to 400 sq. ft.

Jumeirah Village Circle

The freehold master development by Nakheel promises to be the “new heart of Dubai”, due to its ideal location along Sheikh Zayed Road. The community is quiet and safe, with a cozy ambiance. Furthermore, it is pet-friendly and combines a great collection of villas, townhouses, and apartments. Attracting many families and professionals, JVC enjoys a family-centric vibe with great city connectivity and leisure amenities. Some include tennis courts, parks, football pitch, and community center.

Laya Residence

Laya Residence is a new building at the heart of JVC, comprising five storeys and a collection of one-to-three-bedroom units. The 164 apartments show attention to detail in design and layout, with overall quality finishings. The amenities at Laya Residence exude comfort and convenience, making you feel right at home. Moreso, the homes feature fitted kitchens with modern appliances, en suite bedrooms, and balconies. Furthermore, the building enjoys a shared pool, spa, gym, and ample parking. Also, pet lovers are free to bring their furry friends along.

Prices start at AED 550,000 for a one-bedroom measuring 852 sq. ft. For two bedrooms expect to pay up to AED 900,000.

Jumeirah Lakes Towers

We could simply not conclude our search for apartments under one million dirhams without including Jumeirah Lakes Towers.

The community is home to beautiful man-made lakes, a 55,000-meter park, and 26 building clusters. Similarly, each cluster is home to three buildings and offers a waterfront promenade, restaurants, and retail venues. The community is hosting a large number of supermarkets, restaurants, beauty salons, and nightlife venues.

JLT: Top affordable area

JLT is at the top of affordable areas to buy property in Dubai. Moreso, you have a choice of different layouts in a configuration of one to four bedrooms flats and studios.

The price for a studio starts at AED 670,000 and the property covers around 450 sq. ft. In addition, you can buy studios in Concorde Tower, Cluster H, and New Dubai Gate in Cluster A.

One-bedroom apartments start at AED 800,000 and cover up to 800 sq. ft. The best options to buy a one-bedroom unit are in Laguna Tower, Lakeside Residence, and MBL Residences.

Dubai properties for under 1 million Townhouses

Akoya Oxygen

Akoya Oxygen is the most popular community to offer such property affordability, under Damac quality stamp.

Properties here are resting amongst lush green surroundings and a golf course, at the heart of a tranquil community. Akoya stretches along Jebel Ali and Al Qudra road, neighboring other popular communities such as Mudon or Reem.

Akoya promotes living in harmony with nature, utilizing energy proficient systems in alignment with eco-friendly guidelines. Additionally, properties here come with one-to-six-bedroom layouts, a backyard, and private parking. One-bedroom townhouse covers up to 744 sq. ft. and the selling price starts at AED 550,000.

Dubai South

Dubai South is hosting the world’s largest airport, Al Maktoum International Airport, and is the new home location for Expo 2020. Furthermore, it is a free zone area, a city within a city, spanning over 145 square meters. The urban lifestyle and the integrated ecosystem make it a hugely popular destination.

A city within a city

Dubai South contains eight different districts including Exhibition District, the Expo 2020 site, and the Residential District.

The modern townhouses at Dubai South boast lovely views over the 18-hole championship golf course. Above all, the properties offer luxury living standards at affordable prices. Dubai South offers all residents high-class amenities which they can reach within a ten-minute walk.

The metropolitan development is fully integrated. The sustainable environment is ready to accommodate over one million residents. Furthermore, if you want to be one of the million residents living in Dubai South, invest now for as little as AED 380,000. A one-bedroom apartment spanning 512 sq. ft, at MAG 5 will cost under AED 400, 000. Additionally, a two-bedroom flat will cost around AED 800,000 for 1,242 sq. ft.

Dubai properties for under 1 million: Dubailand

Dubailand could almost translate as the “Disneyland of the Middle East”. It is the world’s largest entertainment destination for themed parks, hotels, and polo clubs. Furthermore, it divides into many districts with a wide range of residential and commercial properties. An impressive collection of villas, townhouses, and apartments spread over three billion sq. ft in Dubailand. More importantly, when it comes to buying a villa under 1 million dirhams, the massive district tops the chart. Rukan, Flora, Al Waha, and Living legends are some of the sub-communities offering villas under 1 million dirhams.

 

Selling your offplan Property in Dubai with Offplan Finder

Selling your offplan Property in Dubai with Offplan Finder

How to sell your property in Dubai? Before advertising your property for sale, document yourself on where to begin, how to proceed, and what the whole process involves. Thus, the selling process will not seem so daunting. With the proper knowledge and resources, you can secure a smooth completion and best price outcome for your sale. Whether is your first time selling, or whether is your family home or investment property you sell, the guidelines we list in this blog will assist you on how to navigate the entire experience successfully.

After all, the ultimate goal is to sell it right and sell it fast.

Pick a reliable agency – Off Plan Finder Dubai

The right agency and the right real estate agent are crucial steps towards completing a successful property sale. The most important aspect is to check their background, credentials, and longevity on the market. Secondly, the real estate company must have a valid ORN from the Dubai Land Department. Ultimately, the agent you nominate must have a valid RERA certificate from Dubai Land Department and must specialize in the area of your property location.

Off Plan Finder Dubai take pride in an extensive network of local and international connections, which enables us to reach buyers worldwide. If you are selling your property in Dubai, our team of professionals will ensure accurate marketing price is set for your property while negotiating the best outcome between the buyer and yourself. The key to any successful sale is based on two criteria – accurate pricing complemented by an effective marketing strategy. Furthermore, we pride ourselves on the large number of repeat clients who are referral customers.

List your property exclusively

Before you decide on an open listing or exclusive listing of your home, make sure you have a proper market appraisal carried out by one of the experts in the industry.

An agent specialized in your area will be able to give you an accurate indication and understanding of your home’s true value. They will use educated judgment based on local market expertise since they live and breathe real estate figures and practices. Proper pricing is important to ensure maximum selling potential for your property. After all, the whole purpose behind listing your property is to get maximum exposure. Once you realize how important it is to find the right agent, you will also realize the importance of exclusively listing your property with one agent.

An Exclusive listing places a lot more accountability on the agent who will allocate more time and effort in sourcing potential buyers. It also promotes trust and loyalty between yourself and the broker. Exclusivity with your listing will also narrow down the negotiation process and bogus offers or time wasters. Furthermore, the agent will be 100% motivated to push with all available resources and marketing strategies in order to sell successfully.

Sell your property in Dubai – Relevant forms and documents

Your agents should clearly inform you about any relevant fees and documents associated with selling your property.

Form A will be prepared between yourself and the agent, stating a mutual agreement to have the agent acting on your behalf to find a buyer for your property. Furthermore, the form states the manner in which both parties agree to advertise the property and which portals. Similarly, it should include a comprehensive list of information about the home and mortgage details where applicable. The seller must provide a copy of the Title deed or Oqood in the case of off-plan property. Additionally, a copy of passport and Emirates ID will also be required for Form A.

Proper marketing

How to sell your property in Dubai if not with proper marketing?

Before advertising, it is important to have your home look as presentable and attractive as possible. Home improvements are necessary to enhance the look and ambiance of your home before it goes on sale. If the budget allows, you can hire the services of a good interior designer. They can assist greatly and suggest a fresh new look with furniture replacement or redecorating. For sure, any upgrades will stir up more buyers’ interest and fetch a better price. A flowless looking garden or nicely decorated terrace can make all the difference before viewings. Next, make sure your broker or real estate agency uses the latest marketing strategies to present your home in the best possible light.

Off Plan Finder Dubai provides free property evaluation based on current prices and the latest sale trends in the area. We provide professional Photography and 360-degree videos highlighting the property. Off Plan Finder will advertise your property across print media, online property portals, and social media platforms to maximize exposure and line up potential buyers. Our marketing tools include digital marketing, PPC campaigns, Google ads, third-party portals, and overseas websites.

Found a buyer?

Then, it is time to sign the Memorandum of Understanding, which is the purchase agreement. Both seller and buyer will sign this form, also known as Form F. It is one of the most important RERA documents in real estate transactions. It stipulates the price and financial status of the property, as well as the commission value for the seller’s agent and buyer’s agent. Both seller and buyer will sign the form with the agent present as a witness.  At this stage, the buyer must prepare to make a down payment, as part of his commitment to purchase the property. Similarly, if there is a mortgage on the property, the seller must obtain a liability letter from the bank and settle the loan.

Next, the seller will have to apply for a NOC – No Objection Certificate, from the Developer. This is necessary in order to prove that there are no outstanding service charges due, for the property. Recently, DLD has increased the digitalization of services. So, homeowners or investors looking to sell can do so online. The Dubai REST mobile application allows users to obtain the NOC electronically, with one click, instead of having to apply through the developers’ office. The cost varies from AED 1000 to AED 5000 and takes around five working days to issue.

How to sell your property in Dubai – Transfer Ownership

At last, you are ready to part with your property and is time to visit the Dubai Land Department to transfer ownership to the buyer and issue a new title deed in their name. Seller, buyer, and agent will have to be present for this procedure. But before you all shake hands, the buyer has to clear all outstanding payments for the property, and the seller has to pay transfer fees to Dubai Land Department.

Guide on moving to Dubai 

Guide on moving to Dubai, the step-by-step and how to make the best of it.

No one can escape the charm and allure of Dubai.  Those who visit, always return for more and settle long-term in the city. Those who have never been to Dubai, dream of taking the journey at the first opportunity. Dubai is unlike any other metropolis in the world. It is a place of contrast, an energetic city, fascinating and safe, above all. The city holds exceptional potential to become number one for living standards and happy life. UAE is hosting over 200 nationalities living and working in the country. They all enjoy life to the fullest in spite of the busy and very hectic everyday routine.

So, if you contemplate relocating to Dubai, bear in mind that it is a very fast-paced city and you will not escape the everyday hustle and bustle. However, Dubai is the destination choice for millions, the city of the future. The diversity of lifestyles, the tax-free salaries, and exotic places are plenty of reasons to attract many. Dubai is multi-faceted and has plenty to offer to people from all walks of life.

Are you ready?

Start your research

Facing such a major life decision as relocating, requires preparation and proper research. It is important to understand where and how you fit it, family, pets, and all. UAE is home to over 9 million residents and is more ethnically diverse than ever before. Statistics show that 69% of the population are males and only 31% females.

Dubai is home to the largest number of inhabitants, at 3.42 million. It is important you read about the many cultures living here and the ways of life. Climate, rules, laws, and cost of living. If the means allow, take a week off before you permanently move to Dubai, and visit the city, explore and learn what to expect. Prepare to meet people from all over the world, interact with different cultures and religions, habits and beliefs. Furthermore, you will be pleasantly surprised to see that English is widely spoken and services everywhere are impeccable. However, the cost of living is expensive and during the summer months, you will struggle to endure the burning heat and humidity.

Getting visa

UAE does not offer permanent residency or citizenship. However, expats can reside long term within UAE providing they renew their residency visas every two years. For most expats, the visa will be issued based on long-term employment, business ownership, or family sponsorship. Some highly talented and skilled residents can also qualify for a ten-year Golden Visa. For example, bright students, outstanding doctors, or researchers can all apply for the Golden Visa which will be renewed automatically after 10 years. Many nations will get a 30-day visa on arrival at the airport or land border, which is free of charge.

The most popular visa type is the work visa for which your employer is obliged to pay and offer full sponsorship, taking care of all formalities, including health insurance cover for you. Other visas for relocating to Dubai are student visas, investor visas, or dependent visas. In the latter case, your sponsor needs to earn at least $1000 dollars, for you to qualify for a dependent visa.

International moving company

It may be a small suitcase for some people, but others need to pack their whole life, family, and pets altogether when relocating.  Once you find the right shipping provider, you can let them do all the heavy lifting while you focus on other matters regarding your move. Before you choose moving services, make sure the company has an office branch in Dubai and reliable representatives. Check their credentials or simply choose the best quality mark: For example, the International Association of Movers represents thousands of companies in over 170 countries.  Other companies to consider are Aires and Agility.

These companies are reliable and will take care of all the logistics. For instance, they will arrange all documents and insurance, arrange a warehouse for storage, unpack your belongings and dispose of debris. Price will depend on the set of services you choose. Furthermore, other criteria will also determine the cost. For instance, the further you travel in the distance, the more you will pay. The volume of cargo and choice of transport matter as well. Air transport is more expensive. An all-inclusive service charge can be as much as $10,000.

Accommodation

Dubai offers several types of accommodation. Once you arrive, you can check into a hotel until you finalize the details of your accommodation. You will not be able to rent a place long-term without a tenancy contract so you need to have a bank account and proof of employment. While such formalities take time, you can always consider renting a room on sharing accommodation basis. Monthly cost can reach up to $1000.

When you are ready to rent your own place, you will need to submit documents, prior to moving in. For example, a copy of passport, Emirates ID, tenancy contract, and ejari will be sufficient. However, some landlords or agencies might ask for two or three months’ rent in advance, to cover the security deposit. You must make sure to get it back once you decide to move out, even if it will not be in full amount.

Guide on moving to Dubai – Best Areas to live in

Depending on your personal circumstances and preferences, there are many attractive areas where you can settle in Dubai.

Best for families with kids and pets are Dubai Hills Estate and Arabian Ranches. Plenty of natural surroundings, parks, and golf courses attract many families here. Both communities offer outstanding facilities and have great schooling options and healthcare.

If you are a lover of outdoor activities and beach adventure, JBR is a great choice for you and kids who will enjoy all the aqua parks. Dubai Marina is the perfect spot for nightlife enthusiasts and single professionals. Trendy clubs, bars, restaurants, buzzing atmosphere all year round. Shopping addicts will surely settle down in the most popular district of Dubai – Downtown. Dubai Downtown has an irresistible charm and is highly favored by many expats. Dubai Mall and Burj Khalifa place you at the center of everything with a spectacle of lights and glamour typical of Dubai hospitality. If you still find it hard to decide, get in touch with us. We will select from many excellent rental options for you.

Guide on moving to Dubai – Schooling options

Presuming you already made arrangements for yourself to find suitable employment, now is time to focus on the kids. UAE has a good education system and private schools usually run on a Western curriculum. Schooling fees vary greatly in Dubai, so make sure you do thorough research before you enroll the kids. Additionally, check via KHDA, the Dubai school regulator, for ratings and fees. However, on average, you can expect to pay around AED 30,000 yearly, per child.

Using Cryptocurrency to buy Real Estate in Dubai

Is using cryptocurrency to buy real estate in Dubai the real deal? Bitcoin is exploding all over the markets in 2021, and we say it in the most positive light.

Dubai has finally embraced cryptocurrency reality and is shifting to digital investments. Bitcoin is now fueling demand for real estate assets, attracting investors who are looking for a faster, safer way to transfer property deeds from one party to another.  Cryptocurrency real estate transactions are now possible in Dubai under the guidance of a licensed broker. Several developers are currently accepting Bitcoin payment if licensed brokers are managing the transaction process.

While it is still a new concept, the market is now fully able to conduct such transactions. The system fully integrates with bitcoin technology, delivering a simpler and faster experience for buying real estate. Until recently, it was unthinkable to buy a villa or apartment with digital currency. However today, it is turning many dreams into reality. The Chinese investors are one of the first to trade in cryptocurrency, and this is now evident in the Dubai real estate market. Digital managing of rental real estate, and even tenant-related matters are now part of the blockchain reality. The technology has a lot of potential and is here to stay.

What is cryptocurrency

Using cryptocurrency to buy real estate in Dubai requires ample initial research

Digital currency and blockchain technology can sound intimidating and raise a lot of doubts if you don’t understand the concept and are not familiar with all the particulars. However, to keep it simple, we will call it digital money and digital wallet. There are currently more than 5,000 digital currencies circulating, but many are most familiar with Bitcoin and Ethereum.

Bitcoin came on the market in 2009 and is still a strong performer for buying goods, stocks, and other services. Because the currency is fully digital and there is no physical bill, the owners store their cryptocurrency in a digital wallet and use it when they wish to buy or sell. Furthermore, all transactions take place via an online exchange platform. The electronic payment system obviously does not issue a standard receipt for the transactions, but rather cryptographic proof. The Bitcoin network stores all transactions which are available to the public and fully traceable. The blockchain program records and verifies all these transactions accordingly.

Additionally, the digital world of cryptocurrency is decentralized, not fully backed up by a central bank like the American dollar, for instance. Cryptocurrency has no central authority to regulate and manage its value. Therefore, its value will be maintained by the users themselves, on the blockchain.

Benefits of using Cryptocurrency to buy Real Estate in Dubai

Blockchain offers a whole new dimension for users of digital trade. It is simple, straightforward forward and above all, safe. Moreso, it eliminates bank charges, additional fees and saves a lot of time for shifting money abroad. Digital transactions take a few minutes to complete, unlike banks or lawyers who still apply lengthy protocol and bureaucracy. The blockchain system will soon remove the “middle man” from the transactions since it uses tokenization of real estate assets.

Many countries consider new legislation and implementing changes around tokenization of real estate assets, thus creating a user-friendly platform on the blockchain.

What is tokenization of assets?

The process refers to the division of a property into digital shares or digital assets on the blockchain. The digital assets can take the shape of any other real-world assets such as funds, revenue, or property. Once the assets are tokenized, multiple individuals can enjoy ownership fractionalization by division, and most importantly, in an equal manner. For instance, many couples or even companies invest in real estate together but often do not pay an equal share. Blockchain technology and tokenization are changing this reality into a fairer scenario where each of the investing parties can own the correct fraction of the property.

Due to equal ownership, blockchain brings broader access to global asset distribution and a larger number of investors.

Safe digital platform

Each and every cryptocurrency transaction is recorded on the blockchain and has to be verified by the system. The blockchain functions as a decentralized ledger for each transaction and is a public database available to all crypto users. However, users’ personal data and individual transaction information are secure thanks to cryptography. Furthermore, in order to prevent fraud, each transaction has a digital validation and is fully traceable via data accessibility.

It is next to impossible to hack bitcoin transactions due to blockchain technology, experts say. Taking over a network of computers running 24/7 involves a huge cost and breaching the security protocol is a highly complex operation. However, there is always a potential risk people associate with the use of digital currency.

Below, we look at some facts.

Potential Risks

As with most digital platforms, users always run the risk of network errors, inaccuracy, and technical glitches. So, if that is the case, how do you access your bitcoin records and digital wallet? Bitcoin is not a physical entity. It is not money. Furthermore, because it is not regulated or centralized by governmental bodies, it can never retain its value. Actually, it has no unique value, only that which is conferred to it by users. With the market being so volatile, so are cryptocurrencies. If the market fluctuates, it is very common for bitcoin to experience sudden drops in price. Cryptocurrencies can drop in value by the equivalent of thousands of dollars.

There are legitimate fears and doubts in using digital transactions, and it makes you wonder if your digital “bitcoin wallet” is ever safe? If traditional currencies ever drop flat, the central bank would immediately step in by means of holding palpable assets in order to facilitate recovery. In the case of Bitcoin, no such thing would ever happen.

 

 

A guide to property investment in Dubai

A guide to property investment in Dubai – List of benefits.

You might have read ample material about Dubai and UAE before you prepared your trip here. But how documented are you when it comes to Dubai’s huge potential for investment? Have you considered buying property in Dubai? Are you aware of what the process entails? Below we take a look at facts, numbers, relevant information to guide you through your next investment in Dubai. There is no better time than now, to take full advantage of the current market. Property is in high demand in Dubai. Moreso, the luxury residential segment is experiencing a real surge this year, days before the Expo 2020 event kicks off.

That is why it is safe to say that the property market plays a major role in the country’s recovery, post-pandemic. Dubai alone attracts around 15 million visitors each year. During Expo 2020, the city is expecting a staggering 25 million visitors to reach its shores. Therefore, Dubai is a top city for visitor spending, with an index mark of $30.8 billion for spending, and “fair value” for affordability.

So, if you are looking to capitalize on low prices for real estate, and avail of the most flexible payment plans, read on.

Why Invest in Dubai

Dubai is growing in the right direction.  A series of government initiatives and regulatory procedures have promoted real estate into a very dynamic sector.

Being one of the most lucrative locations in the world for investment, Dubai has a lot to offer:

  • Safety and security
  • Excellent infrastructure
  • Tax-free, stable economy
  • Capital appreciation and strong yields of up to 7% gross rental return
  • High-quality lifestyle for all nationalities
  • 100% repatriation of off-shore earnings and profit
  • 100% foreign business ownership 
  • Attractive payment plan for first-time buyers
  • Significant projects and developments from major developers
  • No annual property taxes
  • Expo 2020

A guide to property investment in Dubai – The list of benefits continues. To that, we can add the increase in population, which leads to more housing demand and a stable, mature market. Also, an excellent infrastructure, world-class education, and healthcare place Dubai at the top of the best places to invest.

Strong Market Recovery

Dubai holds no property tax or capital gains tax, so owners only ever pay one transaction fee after purchase, and no other additional taxes in the future. Most homeowners benefit from a ten-year visa post investing in property, and solid financial security. This is due to a stable currency, good interest rates, and flexible payment plans. A stable high-quality supply of homes guarantees high rental returns for buy-to-let investors. Mix developments of villas and apartments in Jumeirah Lake Towers, Jumeirah Village Circle, or Downtown Dubai promote higher rental income. Also, they are the best investment for a stable monthly income.

Furthermore, 2021 has witnessed record sales for Dubai real estate, consisting of exclusive, premium properties.  The market is making a strong come back across all segments – off-plan, residential and rental.

Fast sales for new launches from major developers are happening at Emaar Beachfront, Dubai Hills Estate, or Arabian Ranches 3. An impressive inventory of excellent off-plan properties takes center stage on the market, offering modern beach apartments and sophisticated villas next to championship golf course.

Dubai post-Covid 19

The property sector post-Covid 19 is showing a revival this year, making a steady come back. After the big pandemic blow which spread all across the Middle East last year, Dubai is counting down to Expo 2020. The big event will start on 1st of October and will definitely boost the real estate sector furthermore into recovery. The property sector represents a big junk of Dubai’s economic growth, at almost 40%.

With that in mind, the current outlook favors first-time investors who are prepared to pay in cash or take a favorable mortgage with low-interest rates. Similarly, funding availability, discount in service charges, and the stabilizing of the job market are additional factors that attract investors. Safe to say, Dubai is very much a buyer’s market at the moment.

Strong Governmental Support

The government is continuing with strong initiatives and is implementing a huge stimulus package to support and revive the economy post-Covid 19 crisis. UAE is currently conducting a massive vaccination campaign which has seen over 85% of the population taking the vaccine successfully. Furthermore, online property transfers from DLD – Dubai Land Department are easing off the process for property purchase. Further helpful measures include the retirement visa programme and the new agreement with Israel, opening doors to a whole new level of investors and partnerships.

Things to consider before investing

A guide to property investment in Dubai: It is wise to do a bit of homework before you consider putting your money into anything. Launch your search online, talk to financial advisors, start networking and get your facts right. Careful planning and a good understanding of what the process entails will give you a very clear picture of your next investment. Above all, make sure you rely on rational analysis to reach your decision and communicate with a property expert clearly about your criteria and budget.  For instance, smart buyers will identify a gap in the market supply for specific assets, such as villas in prime locations. That is where they will consider investing

Examples of factors to consider with your decision-making process are location, market conditions, and project quality. Similarly, make sure to inform yourself of community highlights and amenities available in the neighborhood, such as schools, transport links, or healthcare centers.

Choose a Good Real Estate Agency for Property Investment in Dubai

Now is the time to talk to a reliable property expert and put your trust in professionals to represent you in any property transactions. Look for a company that breaths expertise and exhibits market knowledge. Look for a company with longevity in the industry and proof of good relationships with major developers and other stakeholders. Furthermore, find out whether the company holds any awards or tangible recognition in real estate. It speaks for itself where value is concerned.

Off Plan Finder

Our company, Off Plan Finder ticks all the boxes and meets the criteria mentioned above. Our team is dedicated to providing a level of service and expertise second to none. The team operates with integrity and transparency to create a meaningful impact, giving back to the community and our members, through a “one team” approach. We do not follow the industry, we lead it. We are uncompromising in our endeavors to give BEST service and obtain BEST results.

As we all push through the pandemic with a unified vision, we are certain our dedication will sustain and further the demand for high-quality properties in Dubai.

Let’s talk. Visit our office for free impartial advice on all aspects relating to Dubai property investments.

 

10 Qualities of a Real Estate Agent

10 Qualities of a real estate agent nominates the most essential traits that define a top performer.

The real estate market can be a tough game and will always place agents in high competition. A real estate agent must build up to being a top performer, in order to survive in the industry. When choosing an agent to represent you, make sure you look at a few key factors to gauge their potential and assess their qualities.

It is all about people

A good real estate agent knows that is not just about the property, it is mostly about people. With that understanding, they will act with support and impartial advice towards achieving the best possible outcome. Furthermore, while you interact with an agent, trust the vibes you get. Energy never lies. They should be presentable and comfortable talking to people from all walks of life. Also, they should be good listeners, listening with a view to understanding, not just to hear and agree.

Ultimately, a strong sales record and good referrals are positive signs. If that is the case, your agent is likely to do a great job representing you and your interests.

Drive to succeed

An agent’s main drive should be their passion for the industry and the desire to win a deal. Moreso, they should serve people and observe the highest standards of professionalism. Having a strong drive and passion from within are innate attributes that are palpable upon interacting with an individual. Similarly, if an agent is driven to win, by default they will possess other qualities as well. Personal drive is the foundation on which you build yourself for success. In the real estate game, you must have the determination to succeed at all costs. It takes consistency, being relentless, and even aggressive to ensure a win-win situation.

Negotiation Skills

The art of negotiation is a skill you can cultivate and develop on a daily basis. If you have ample exposure to the property market, you can exercise and expand your negotiation skills with each experience and each client you come upon. They say that successfully negotiating your commission is a great talent, as it does not come easy. Therefore, if you are able to do that, you are able to negotiate on all other matters. Improving your negotiation skills means you are well able to recognize the value in a transaction and push towards closing a deal.

Strong Communication Skills

Communication is everything. Building a rapport is a good start and further paving the way to finalize a good deal. It is essential to communicate clearly and transparently from day one. An agent should be resourceful and honest about current market reality. Be willing to keep clients well informed. Maintaining eye contact and willingness to listen proactively are also signs of a good communicator. Finally, ask questions. It shows genuine interest. Communicate with honesty and transparency.  People can feel this kind of energy.

Integrity

 If you are looking to build trust and maintain long-lasting relationships with your clients and connections, then operate with integrity. The best agents who remain in the game long term are those individuals who value integrity and exhibit integrity. Maintain good morals and commitment to offer the best service, and it will attract you great referrals. Do what is right following ethical standards and you will attract trustworthiness. Furthermore, integrity goes hand in hand with trust. One implies the other. Integrity means impeccable professional conduct and putting clients’ needs first while remaining completely honest with them.

Resourcefulness

The real estate market is ever-changing, presenting various unexpected trends and situations. A good agent will always keep clients in the loop about any changes and keep himself ahead of the game. Complex situations and transactions require innovative thinking and deep knowledge of the market variables. For instance, to effectively handle a complex deal, one needs to have knowledge of all aspects, the pros, and cons and how to tackle issues. Subsequently, this will improve client satisfaction and offer them a positive experience dealing with the agent.

Networking

Real Estate definitely requires strong networking skills. It really is all about connections, who you know, who knows you how to benefit from the interaction. Mingle in the right circles and forge quality conversations with high-profile individuals. Furthermore, attend relevant gatherings and events that will benefit you in the long run. Similarly, it is also important to keep in touch and follow up with previous clients, to build lasting professional ties.  A sociable personality and pleasant presence will help greatly with your networking experience.

Problem Solving

A problem solver is someone who is prepared to hear a lot of problems and not be put off by complaints or very critical clients. Everyone on board will come with a problem. A good agent will find the solution. Solving problems in the property market can be tricky and requires a lot of diligence from a highly knowledgeable agent. Sometimes you need to resort to less conventional ways to solve a problem. Market knowledge, clear understanding of figures, good maths, and determination make a good problem solver out of an agent.

Professional Appearance

Dressing accordingly and maintaining proper grooming are vital attributes for a real estate agent. You might come up with the best pitching but if your appearance is lacking, the client will not buy it. Firstly, you are selling yourself, before any real estate assets. Secondly, if you don’t care how you dress, others will. Image is everything and says a lot about how people perceive you as a person and as a professional. Grooming is equally important. A clean, sharp smart look promotes credibility and commands respect.

Confidence

When you ooze confidence, you are fully engaging in the present moment and devote 100% attention to your clients. Things are going your way and the energy is right. You know your own value and how to market that to your advantage, without appearing cocky. Confident agents take ownership in their words and actions while remaining comfortable and trusting the process. They know and believe they bring value to the table and are ready to back it all up with supporting arguments. Experience is what builds confidence and what will ultimately earn your success.

Good listening Skills

10 Qualities of a real estate agent Just listen. Is the most basic and primal way to connect to another human being and offer your attention. However, there is active listening and passive listening. When you actively listen, you actually hear what the other party is saying and you make a consistent effort to understand, engage and ask questions. Active listening is a strong tool for filtering information according to quality, rather than quantity. Hence, it will help an agent to better assist with clients’ needs and concerns. Above all, a satisfied client is the best business card that a real estate agent could ever have.

 

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