You’ve been eyeing that beautiful piece of property in Arabian Ranches for a while. You want to set your plan in motion and make a small investment initially to see how the ROIs pan out. However, there’s just one minor hurdle you need to jump over in order to see your plan materialize: finding a reliable and trustworthy Arabian Ranches real estate agent who won’t take you for a ride.
Overestimating a property’s selling price is among the oldest tricks in an agent’s book – the aim is to impress the seller so much with the inflated figure that he/she is quick to go with that agent in a heartbeat rather than anyone else. The overpriced property just sits on the market for several months at a time, while the seller continues to bear the loss.
This practice is referred to as “buying a listing” and a common trick agents pull to make quick money off a client.
If you consider yourself a savvy property hunter, then you should be able to easily see through these ploys and know who the genuine brokers are. Here are additional tips to help you identify genuine Dubai real estate agents who understand your needs and go the extra mile to make all your transactions smooth and trouble-free.
Look Them up on Google
If you want to check up on someone online, Google is where you want to start. An agent’s ‘online persona’ can reveal a lot so as to how they conduct business. Check out their website and social media accounts, particularly Twitter and Facebook, to get a fair sense of how and what they do on a daily basis.
In addition, you’d want to do a search for news articles on them or even the company/business they represent. Also of importance are the marketing channels they utilize when trying to reach prospects, and how good they are at making the most of those channels.
Check Their License
An agent who doesn’t have a RERA-certified broker license should not be trusted, period. Walk the other way, unless you can get this information verified in advance.
Here’s an example of what a RERA-certified agent profile looks like. Always check and verify their number with RERA (Real Estate Regulatory Agency).
Ask Them to Present References
Whether you’re a buyer or seller, you need to ask your agent to present written references from past clients, which should include their contact details. Also ask them to give you a link or web address where you can read up on customer testimonials and check if they are authentic.
Call the agent’s former clients and have a few key questions ready, such as:
- Can they communicate well?
- How thorough were they in guiding you through the buying/selling process?
- How long was your property on the market before the transaction was processed?
- Would you go through the same agent again?
Always make it a point to look for agents who have complete knowledge on specific areas as every community presents a unique set of challenges and points to ponder when you plan on buying/selling your home or investing in property.
The fully-equipped property agent should have a proven track record of successfully executing transactions in your desired area/community of interest. They are knowledgeable on factors like amenities, local environmental factors that may impact living or future investments (including ROIs) and how government regulations might play a role in the final sale, purchase or ROI.
They know the ins and outs of the local market scene better than any resident, and due to this very reason, you’ll be getting the best deal, no matter what type of transaction it is.
Interview Your Agent
If you’re going into the first meeting with the intention of a casual conversation to gauge the agent’s expertise and experience, you need to take a step back. The meeting is more or less like a job interview – the agent’s gunning for the no.1 position and you have the final authority so as to whether you want to hire them or not.
List down some questions which are leveled directly at their sales history, experience and way of conducting business. You may be able to come up with additional questions by talking to past customers beforehand, and researching your agent through their company website, Facebook, Instagram and Twitter profiles.
General rule of thumb: always shortlist and interview at least three agents before coming to a decision.
Asking Price Doesn’t Say it All
You may be tempted to give in to the estimated selling price, though there are additional factors that deserve equal attention.
For instance, an agent with exceptional negotiation skills will land the best possible deal for you, irrespective of the initial/asking price.
All in all, seek an agent with whom you can have a healthy working relationship and rapport, someone who can be trusted to lookout for your interests, not just their own, through each and every transaction. Check out profiles of established and licensed real estate companies in Dubai which is also a great place to start hunting for seasoned agents who have demonstrated a good work ethic and do their jobs with a high degree of professionalism.