What do You need to Know about a Real Estate Agents in Dubai
Pondering upon property decisions in Dubai? The real estate agents play a fundamental role in arranging a property for you that fits your requirement, and a property that is free from any legal complications.
The real estate sector in Dubai is witnessing an immense growth which is expected to multiply in the year 2020. There are abounding real estate agents working under numerous dealers rendering their services in Dubai but when there are many options available, forming a decision becomes more complicated. Due to high demand and scope, it’s merely complex for the real estate agents to enter or leave the market. Before the year 2007, tracking was not keen due to which there was no or less check and balance on the real estate agents. In the year 2007, the ruler of Dubai Sheikh Muhammad Rashed Al Maktoum promulgated a law which established the Real Estate Regulatory Authority (RERA) to probe the uncontrolled inflow of the real estate agents.
RERA is a license to the real estate agents to carry their operations. The RERA laws regulate the relation between the landowner and the tenant/buyer. It also channelizes the growth of real estate sector maintaining the standards and values of the real estate agents for the parties. The previously compromised quality and standards of the real estate agents were maintained after the establishment of RERA. Despite the efforts of RERA, it is mandatory to ensure a few things before opting for a real estate agent in Dubai to prevent any unfortunate event.
- The agent must have attained the RERA certificate, if he does not have the license then he would probably drag you to an unfavorable situation.
- The credibility of the agent. A research about the credibility and previous deal records of any real estate agent is the easiest way of ensuring the fruitfulness of the decision.
- Association of the agents with real estate dealers. If the agent’s portfolio guarantees his or her association with any reputable dealer, then probably he would be the one to trust.
- The form and documentation. Regardless of what the real estate agent is keeping you informed with, you must know a little about the documents which will nullify the deal if neglected.
- Ask him for the details. It’s the right of both the parties to inquire about the other party and the property, and the real estate agent is liable to satisfy the parties. If he fails to provide any important information or denies to doing so, then you must think to switch your real agent.
- The fee and rate of commission. The government of Dubai has set definitive laws regarding the commissions and fee of the real estate agents, if he deviates from those rates without providing a genuine reason then you are definitely being overcharged.
- Last but not the least, the experience. Experience is a major element to look into an agent before opting him or her. The agent must possess ample experience to make a favorable deal, but it doesn’t mean that you fully rely on the experienced real estate agent. The more experience, the more you would have to stay alert as he would have the tactics to mold your decisions in his or her favor.