Mahboob Rabbani from Elysian Real Estate is our Dubai Outstanding Agent this month. He has in-depth knowledge of the Dubai real estate market especially the Luxury sector and the off-plan market, he tells us more about this best negotiating tips.
How long have you been in the industry?
I have been in the industry close to 12 years now.
Which areas do you specialise in?
I specialise in Emirates Hills, District One villas and Downtown. In Downtown, I mainly focus on Burj Khalifa including Armani Residences, The Downtown Address, IL Primo and WTC Residences by Jumeirah Living.
Why did you decide to become a real estate agent?
I had no plans to become a real estate agent. When I moved to Dubai in 2007, I met a friend who owned a real estate company and he thought I would be very good at it. So he persuaded me to give it a shot. Before getting into real estate, I had about 15 years of sales experience in another industry, so the transition to real estate sales was very easy. By the second month, I knew that this is what I wanted to do!
How would you describe the current property market?
It’s a very challenging market to be honest. On one hand, you have a ready market which has been softening, so the ready market Buyers are being very cautious and are taking a wait and see approach. Deals are happening, but they are taking much longer to close.
Primary market on the other hand (off-plan sales) are doing phenomenally well. I feel the Primary market is competing with the Ready market, hence you see all these promotions being offered by Developers. Never before clients were getting Post-Handover payment plans, DLD waiver’s, service fee waivers and even Free property management. Therefore, if you have never bought in Dubai or are considering to buy, then I feel that this is the best time to enter the market, whether it is ready or off-plan.
Tell me about your big achievement? Last month’s big sale(s)
It was a pretty decent last month 🙂 I closed three deals.
One of them was a six bed duplex penthouse in IL Primo. There are only three of these penthouses in the entire building, so to be able to sell one was quite special.
Then the following week, I sold another Penthouse in the same building and a five bed villa in Jumeirah Golf Estates. So altogether, closed deals worth AED 82 million.
How do you tailor your approach so you set yourself apart?
I try to keep it simple. Sit down with the client, understand his/hers requirements and budget and then follow up. I believe if you do this, there is no way you will not be successful.
Property seekers are always after their ideal location, and all kept within a certain budget. How do you strike the balance to get them what they want?
Price is key. One on hand, you have the Buyer’s expectations and on the other hand, you have the Seller’s perception. As long as you can align the two and manage their price expectations, you will strike a balance and get them what they want.
Any words of advice for someone looking to sell their property in Dubai?
Don’t list your property with multiple agents. Select an area specialist and then trust his advice and this would be reflected in his market knowledge, expertise, work ethic and enthusiasm. The agent wants to sell your property as much as you do.
“If people like you, they listen to you, but if they trust you, they’ll do business with you”. Zig Ziglar
What’s your best-negotiating tip?
I wish there was one!! It would have made my life that much easier. Every deal, your presented with a different situation and different methods apply. I wouldn’t say this is the best-tip, but my advice would be to brokers and which generally works for me most of the time is to “get a deposit cheque copy”.
What’s your favourite thing to do on your days off?
I love to spend time with my wife and three boys.
If you didn’t work in real estate, what career would you pursue?
I love sports, so it would be a sports related career. Actually, I was a professional squash player back in the 90’s. I played on the PSA tour for about four years and had a world ranking of seventy. So if I could, I would play pro squash all over again.
What is the question you are most often asked by property seekers?
One that I get asked on a daily basis is, “how’s the market?” and another one that I get bombarded with is, “I’m looking for a distress deal?”
How big of a role does Property Finder play in your job? What specifically do you use Property Finder for?
I believe Property Finder plays a massive role for all real estate agents. I really like the Verified Listings feature which stands out from the other portals. I use Lead Tracker and most importantly, Price Finder feature which is very helpful.
Do you have what it takes to be our next Outstanding Agent Winner? Go to propertyfinder.ae/league to apply.