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.
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.
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?
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%.