According to Forbes Middle East, the top 40 listed real estate companies in the UAE have a collective market value of $90.5 billion. With the revenues and profits of $18.1 billion and $5.1 billion, respectively, their assets were worth $126.5 billion in the 4th quarter of 2017. The UAE’s real estate sector has been aggrandized by the sincere efforts of these successful dealers but why should you choose any of them? What are the parameters for choosing the right real estate companies?
How to choose befitting real estate companies in the UAE
- The RERA certified real estate companies
Before the year 2007, it was difficult to realize which real estate dealer is authentic, therefore the frauds increased rapidly. In 2007, Sheikh Muhammad Rashed Al Maktoum devised the Real Estate Regulatory Authority (RERA) which laid the standards of measure for the real estate companies to be authentic. Any dealer, agent or company without the RERA certification must not be consulted for the property affairs in the UAE.
- Performance Graph
When any sector of an economy reflects the spark of success, the chances of new entrants increase by multifold number. The similar situation is seen in the UAE’s real estate sector, countless agents and real estate companies with varied experience have emerged in the recent years. The simplest measure to choose the best one is to check their recent performance. The company with a number of successful deals surpassing the unsuccessful ones is the one to opt for.
- Credibility of the real estate companies
Credibility is one of the foremost measures to check before choosing any real estate dealer. It’s the era of connectivity, searching for renowned real estate companies and agents is not a rocket science, the internet does that for you. Look around, ask for the reviews, compare the listings and rates, observe previous records, search the internet, and then conclude which real estate dealer is the credible ones. The real estate dealer with the highest credibility minimizes risks for you and is surely your winner.
- Comprehensiveness of the details and documentation
All the legal aspects and charges must be clear and known to both the parties involved in the deal.
- The agent’s fee
- The Dubai Land Department (DLD)’s fee
- The registration trustee’s fee
- Property Documentation
- Contract terms and conditions
The authentic real estate companies know each and every detail of the properties that they offer, ask them whatever you need to know! Your real estate dealer must provide you with all the details and important documents related to the property, he/she is liable to do so. Never show leniency on this phase, this strengthens the legal grounds of your deal. Inquiring is the right of both the parties, be precise you would be ruining the deal by your own hands if you miss out on any point.
- Strong network and affirmative attitude
Having strong community and connections is the real victory for the real estate companies. If you’re a buyer, they must have a seller for you, if you’re a seller, they must have a buyer for you. With a tenacious network, a real estate dealer would comply with what you require, making excuses is a trait of a looser. Your agent must be able to arrange for the property that you’re seeking, no matter via outsourcing, if it’s not available in his or her current listings. The reliable real estate companies stay positive and satisfy their clients from their counter, by hook or by crook.
- Reachable and available
You would definitely not want to hire a real estate dealer who wouldn’t turn up after initiating the deal. Being reachable and available for the clients are the most important characteristics of the real estate companies. The clients and the dealer are in frequent contact during a deal, and sometimes even after the deal. Arranging timely visits and meetings are the services that are bound to be delivered by a real estate dealer and for this, the dealer must be available on the committed times.
- The right pricing
The sincere real estate companies are honest, reliable, and withstand their commitments. Their prices are accurate, they do not deviate from the market rates. They would tend to make long-term relation with the clients rather than earning a big chunk by deceit and then losing a client. However, you must do your homework and search for the real worth of the property that you’re about to buy or sell. Absolute reliance on the real estate companies would not be a good decision. While selling the property, if your real estate dealer guarantees to get you a good price for your property, don’t wait for too long to get a few Dirhams above the market price. You might end up losing a good buyer in that case.