Top 5 mistakes to avoid when teaming up with a real estate agent
The real estate is one of the fastest growing sectors in Dubai’s economy. As a result, people are buying and selling properties at an alarming rate. When buying or selling a property in Dubai, you will need an agent. Since there are numerous agents in Dubai, finding an agent is not hard. However, it is very difficult to find the right agent that will help you get the best deal.
Dubai has some of the best properties to invest and reap good profits. Currently, there are numerous off plan projects in Dubai such as Emaar Beachfront apartments that are expected to be completed soon. Alternatively, you can also get a variety of apartments for sale in City Walk. But to get hold of these properties in an efficient manner, you’ll need the professional assistance of a real estate agent.
Here are some of the mistakes to avoid when looking for an agent
i. Unlicensed agents
In Dubai, every real estate agent is required to be registered with the Real Estate Regulatory Authority (RERA). If the agent does not have proper licensing, there is an indication that he/she is not legitimate. Moreover, since real estate is one of the most promising sectors in Dubai, numerous scammers have emerged with the aim of taking advantage of desperate buyers and sellers.
ii. Inexperienced agent
It is very important to consider the experience of the agent before hiring them. How do you expect a novice agent to manoeuvre through the market and offer you a suitable deal? For instance, if you are selling a house, buyers would want to associate with an experienced agent. It will be very difficult for an amateur agent to convince buyers to purchase your property. This is a risk you do not want to take. So, by all means, choose an experienced agent.
iii. Hiring based on the price tag
Even though it is very crucial to have a budget when buying or selling a property, you have to be very careful when it comes to money matters. If the agent is offering a deal that is too good, think twice. Do not consider extremely low prices because it may be an indication that the agent is either incompetent or inexperienced. Also, you should avoid agents who quote high fees as they may want to extort you.
iv. Disregarding your sixth sense
Have you ever met a person for the first time and fail to connect with them for no reason? That is what is regarded as a gut feeling and is arguably one of the most important things to consider before making any decision. During the first meeting with the agent, you should pay attention to their verbal and nonverbal communication. This will tell you more about their personalities and whether you will be able to work with them.