Designer Ryan Korban has always been devoted to Instagram. An influencer himself (with some 137,000 followers), the 34-year-old New School graduate
How can I become a real estate developer in Dubai?
Being successful in the practice of real estate isn’t about passing a licensing test. Passing the test gets you the license, but it’s far from enough knowledge to be successful in becoming a real estate agent for the long haul.
Selling Property or helping people rent and purchase property is serious business which requires unique skills to not only break into the trade but also stay good at it. Being really good at your job as a Dubai real estate broker essentially depends on how much time, patience and effort you’re willing to put in.
For starters, you need to adhere strictly to specific guidelines according to where in the UAE you’re working. You also need an ample supply of perseverance and persistence in your arsenal, along with an attractive personality and extensive people as well as communications skills. Great negotiation skills is one of the main skills required by a real estate broker. Stay committed to your job, the learning process and all your clients, and you can find tremendous success and satisfaction in this line of work.
Here’s a starter’s guide so to speak on what you’re going to need to do in order to make it big in this industry.
The Licensing Process :
As mentioned, different parts of the UAE may have different requirements as far as becoming a registered property agent is concerned. You can do an online search or contact an agent from an established network to determine the academic and licensing requirements of a specific city.
The next step is to take the real estate exam and you need to know beforehand what topics will be touched upon. In this regard, many of the top real estate companies offer test preparatory services, though you can also do this on your own, provided your research is in order. For example: Real estate contract types like open listings, exclusive listings or net listings. Popular and commonly used real estate vocabulary, terms, buzzwords etc. I.e. terms that are specifically used in property negotiations or rental lease agreements; read up on everything you can on the buying/selling process and terminology involved. Familiarity with rental contract, buying and selling laws. Have sound knowledge on fiduciary relationships as well as disclosure obligations.
There are test centers designated to let agents register for their broker exam. You can expect to pay a small fee to take the exam and go through a background check. Contact the licensing authority on how to do so.
Creating a Network :
Why not partner up with a registered and experienced broker who knows the ins and outs of the industry? Also for a fact, in Dubai and most parts of the UAE, there is no such thing as a “freelance property agent”. You either need to be part of a team of registered property agents or join a network of agents and/or companies that are registered to provide services in the UAE.
Even though at the end of the day, you are working for yourself, you need to be a part of a network of real estate companies to fully understand how it all comes together. You can later branch out and work independently with your own company or team if you wish, however, during these early stages it is imperative that you have all the help you can get.
Being successful as a Dubai property agent is all about your contacts – who you know and how your clients speak of you. Get connected and keep your network umbrella wide. You’d be amazed how much business you can get just through referrals.
Talk to your senior, more experienced brokers and ask them how they widened their network of clients and prospects. Ask them if they rely on customer management software to keep their list of contacts current and easily accessible. Ask clients to give you referrals or be a sponsor at local events. In this business, if you’re shy to reach out or hesitant to jump at opportunities around every corner, you’re not getting too far.
This is perhaps one of your most valuable assets: a website and a prominent social media presence. Now, building a website may not be something that’s feasible at this stage, but if you can, well and good. In addition, if you’re part of a network of esteemed real estate agents, people will find you easily. It’s only a matter of prospects keying in their search parameters, and there you are!
Reach out to your prospects by utilizing the power of social media and connect with people who are not yet a part of your immediate contacts umbrella. Create social pages exclusively dedicated to your property dealings. Make it a habit to tweet daily listings as well as real estate tips as you discover them. Keep a watchful eye on what others are doing or saying on social media so that you can seize opportunities to find new business. Post your daily listings and ways of looking up other listings (through MLS links for example) on your website.
It is highly recommended you have a website where you can have your bio and closing history updated; if not, joining a network where agents and companies meet is an excellent way of keeping your agent profile updated and visible to clients as well as prospects.
Remember, you’re in the business of winning hearts and minds as well as trust, among other things, so be outgoing and welcome everyone who comes your way with a warm smile. It’s all about selling yourself, not just your skills. Make clients and prospects feel special – give them your undivided attention, empathize with their needs and promise only what you can deliver.
Many people who walk through your door will probably not be as familiar with the real estate market as you are. It’s your job to make them feel comfortable while discussing contract terms or buying/selling procedures and laws. Be transparent and up front at all times.
Don’t hesitate to engage with fresh prospects in your community, learn to forge new connections on the go and again: listen to your clients needs and preferences carefully.
Pricing them right :
You’ve heard it: “If you don’t list, you’ll not last in real estate.” It’s a very old saying. While pricing your properties, pay particular attention to the market trends. Whether you are pitching for renting or selling a property, visit the online portal of Dubai Land Department and check whether the price you are putting up lies within the current market range. Some real estate agents promise to sell their properties at a higher rate, but that makes the property units sit on the market for a longer period of time. Remember, time is money and if a property sits in the market for a long period of time, you might end up losing your client!
Marketing Yourself :
The prospecting process must move along according to a schedule. Take time out on a weekly basis to zero in on new leads through phone calls, email marketing or referrals. Just because you go into the real estate business and tell all of your family and friends, it doesn’t mean that you’ll start receiving tons of referral business from them. You may get a few from family, but don’t forget that your friends have other friends, and they may be in real estate as well. Be proactive and advertise yourself in coffee shops or other places where the local community enjoys hanging out. It must be noted that buying leads can certainly pave the way for new business; however, the most productive ones are a result of direct one-on-one interactions.
To further get involved with the community and establish a presence, you can go on a spree introducing yourself to neighbors, attending local festivals or even sponsoring sports teams and local schools. You are only limited by your creative imagination and drive to succeed.
Today’s market is a virtual market more than anything else. You need to stay connected with prospects however you can. Buyers tend to conduct an extensive online search before getting in touch with listings. Make good use of technology to get your listings to stand out. For example, giving prospects virtual tours of your listings and posting walkthroughs, pictures of listings and client testimonials or videos as a deal is about to get sealed. In fact, Instagram can work wonders in this case.
Did you know that nearly 80% of your business is generated through referrals? The 80–20 rule states “80% of your sales come from 20% of your clients.”It is paramount that you do not miss out on opportunities for getting more business due to ignoring your past clients. Why not send a “welcome home” basket after closing deals? Make it a habit to call clients after about a month or so to check up on them and see if they’re completely satisfied with their home. Sending an annual or quarterly newsletter to all past clients may see you enjoying many more referrals in future.
Being creative, receptive to your clients needs and having exceptional salesmanship skills are just some of the essentials that form the basis of a successful real estate agent.
Also check out the history of some famous real practical experience rather than just theory.as they got