Find Real Estate Brokers 101 | Best Property Consultants In Dubai

Real estate brokers

Buying a home is a difficult task, and it’s one of the biggest financial decisions of an individual’s life. When you’re prepared to buy a property, finding a real estate broker with the experience to advise and guide you through the process is key.

There’s no shortage of real estate agents competing to provide this service via online ads, newspaper listings, and property portals. However, with so many professionals to choose from, finding the right professional can feel overwhelming. Follow these tips on how to find a real estate agent to ensure you hire the ideal expert for your home purchase.

Get pre-approved for a mortgage

Sometimes, home buyers hire a real estate agent and dive into their property search before they ever talk to a mortgage provider. However, it’s always smart to talk to a mortgage provider first to know how much you can afford.

Getting pre-approved for a mortgage makes you aware of the maximum amount you can borrow and helps you identify any issues that need to be worked on early in the process. This helps you find homes in the right price range suited for you. In addition, it will give you exposure to potential real estate agents (and sellers) and portray that you’re a serious buyer. In the current competitive markets, you’ll need a pre-approval mortgage letter for sellers to even consider your offer.

Prefer friends and family referrals

Request people in your network if they can suggest a real estate agent with whom they’ve had a good experience. Ideally, you should look for someone with experience working with clients who are similar to your profile. The requirements of first-time buyers, for instance, are different than those of experienced buyers or homeowners who are looking to downsize.

Look for real estate brokers who are Realtors. That means they’re RERA certified. A RERA certificate is a legal document that acts as proof/confirmation that a property, project, or property agent has been registered under state-level RERA authority or tribunal.  Some certified real estate brokers also have certifications to show that they’ve completed training in a certain area of real estate.

Buyer’s Agent vs Seller’s Agent (Real Estate Broker)

Find Real Estate Brokers 101 | Best Property Consultants In Dubai

Furthermore, familiarize yourself with the distinction between a buyer’s agent and a seller’s agent. A buyer’s agent advocates for a homebuyer in a real estate transaction, while a seller’s or listing agent is responsible for the seller’s side, including property pricing, marketing the home, and negotiating the terms of the sale.

Sometimes, a single real estate broker can serve both parties, a practice known as dual agency. You might also come across an agent who acts as a referral (agent to agent), meaning the agent provides potential leads to other agents for a fee or shared commission.

Research potential real estate brokers

Find Real Estate Brokers 101 | Best Property Consultants In Dubai | SuperAgent Property Finder

Start by searching for an agent’s online presence. Check the real estate broker’s website and social media accounts. Check out their online reviews/testimonials, as well. Don’t bother about one or two negative reviews, but anything more than that could be a red flag.

Make sure you check with the respective Real Estate Regulatory Authority to find out whether an agent you’re considering is licensed or has any disciplinary actions. While you’re doing your research to find the right agent, it is also the best time to create a wish list and must-haves of what you’re seeking in a property/home.

Potential property consultants have Verified SuperAgent profiles on Property Finder and authentic agents have listings with TrueCheck on Bayut.

Meet at least three real estate agents

A meeting is your opportunity to get a sense of the real estate broker’s style and experience. Ultimately, you’re looking for someone who is specialized in a location and understands your budget and needs.

See how polished and professional their approach is. The more effort they put into a property viewing for you, the more effort they’ll put into finding the right options for you. You need someone who is really dedicated to getting the best deal for you.

Questions to ask include how long they’ve been a real estate broker, how many clients they have served, and the timeline on which they typically work with buyers to close on a home. It’s also fair to ask about the typical price range and communities they usually help their buyers find, how they help buyers get competitive pricing in this market and what their commission fees are.

Interviews also give you an opportunity to find out the agent’s preferred manner of communication and availability. For example, if you prefer texting and expect to visit homes after working hours during the week, you’ll want an agent who’s comfortable doing the same.

Request references and conduct inquiries

Find Real Estate Brokers 101 | Best Property Consultants In Dubai | SuperAgent Property Finder

Ask real estate brokers you’re considering to provide information on their successful deals in the past year, with contact information for at least a few recent clients. Call those clients to find out their review and what type of assistance the agent provided throughout the process, including during the negotiations and post-sale services. Ask whether they would hire that real estate broker again for their next property transaction.

Go with the gut feeling

Just as crucial as the specialization, transparency, and experience an agent brings is their ability to guide you smoothly through the deal transaction. Most importantly, go with an agent you trust and will feel comfortable with if the road to closing the deal gets a little bumpy.

“It’s just like dating” — sometimes it just comes down to the chemistry. In case everything checks out, but you just don’t match vibes with that person, don’t move forward with them. There are plenty of other real estate brokers in the market who will be happy to assist you and might be a better personality fit.

Closely examine your contract

Find Real Estate Brokers 101 | Best Property Consultants In Dubai | SuperAgent Property Finder

Once you choose an agent, your contract should define all of the terms to which you have an agreement, including the real estate broker commission. Traditionally, the seller pays 2-5 percent of the sales price of the home for the property consultant’s commissions. In the case of an AtoA deal, half of the commission goes to their own agent and half goes to the buyer’s agent. The commission rate is often negotiable; however, the average commission usually falls just under 6 percent, in markets like Dubai.

Another factor to consider: The timespan of the contract itself. Aim for a contract length limited to six months or less. In the current competitive seller’s market, it can take just 20 days — or less — to sell a home with the right real estate broker. If you haven’t found the property you want within a few months, it’s practical to keep your options open and choose expert property consultants at Nexus Capital Real Estate Brokers.

Find out more about the future of the market – Dubai Property Market 2023: Top Factors That Will Impact

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