When looking to buy or sell a property, who is on your side?
Nearly 3,000 real estate agents use propertyfinder.ae to advertise their listings — it is the largest database of verified, professional agents in the region.
For buyers, using an agent comes with a cost. Although the Real Estate Regulatory Authority (RERA) in Dubai has not set a standard percentage for the commission that can be charged by agents, the market practice is 2% on the total sale amount paid by the buyer.
Given that buyers and renters bear the burden of paying the agent his or her commission, it’s natural that consumers may second-guess the need to bring in a pro to manage the transaction. Propertyfinder Group rounded up the benefits of an agent because we believe you deserve to have a professional looking out for your interests.
Benefits for buyers
- Agents know the market better than anyone, and can advocate for a fairer price, negotiate on your behalf as an objective intermediary, and make sure emotions don’t get the better of you during a heated deal.
- As a buyer, an agent can expose you to a greater selection of properties than if you were looking on your own.
- As a buyer working with an agent, you specify your wish list and must-haves, and it is up to the agent to match you with appropriate properties. Searching on your own leaves you susceptible to developers’ marketing and competing stock. An agent is an unbiased advocate working for you.
- An agent should know the history of the property you are viewing and can alert you to any issues regarding maintenance, neighbours, or the recent track record of who has moved in and out. They ultimately want what’s best for you, and can be an honest sounding board as you search.
- How well-versed on property law are you? An agent can help you navigate the maze of title deeds, purchase agreements, and escrow accounts so you can make your final decision efficiently, and sign with confidence.
Benefits for sellers
- As they do on behalf of buyers, an agent can help a seller set expectations for what it may cost to list their home and what is a reasonable asking price. Agents know the market and are familiar with what comparable properties have gone for in your area. Setting the right asking price means less time on the market, a less dramatic negotiation with your buyer, and a more efficient process overall.
- Listing a home is time-consuming. Unless you have the work and personal life flexibility to drop everything and show a prospective buyer around your property at a moment’s notice, an agent can provide an invaluable service and increase your chances of landing a qualified buyer.
- Listing with an agent means the property is advertised to a far wider audience compared to trying to go it alone, where you won’t have access to large portals to market your listing. Propertyfinder, for example, only allows listings to come from professional real estate agents.
Check out Find Agent to find the right agent for you.