How to find the best real estate agent and hence reduce the investment cost in Dubai?
How to find the best real estate agent and hence reduce the investment cost in Dubai ?
So you have made that good decision to buy a property in Dubai – great!!. Indeed this will boost building your wealth. According to Reidin.com – The Dubai property sector has witnessed solid growth in the first quarter with about 25% increase in overall transactional activity”. But to get a better return do not forget to reduce the investment cost.
The decision itself can’t build your wealth as you assume. Executing the decision on the right way is very important. Have you decide yet, in which part of the town you want to invest? Or what actually you want to get back from the investment? If your answer is “No”, you are not yet ready with the decision. Consider the below points before you step in, else you will be losing your hard earned money.
What made you decide to buy a property in Dubai and why it is important to reduce the investment cost?
The answer has a lot to do with your investment. Are you planning to live or want to rent it out and build your wealth Anyway, you have to decide the area you want to invest.
In Dubai, the average rental yield is 9%. But a few areas can offer you up to 12%. There will be many factors affecting the rental yield, the property price + Investment cost ( purchasing cost) to the infrastructure growth of the area. You can a take advice from a good property consultant, who can work on your interest as a buyer and not on the seller’s side. A property expert with accredited buyer’s representative designation can do the job. Before you agree anything, to get a better picture, you can even calculate the benefit of purchasing that property.
Tips to find the best real estate agent who can reduce your investment cost in Dubai
Referrals from a friends or family who have previous real estate investments in Dubai.
Reports say 42% of buyer’s would consider an agent referred by their friends or family .The figure may go up to 52% for the first time investors. Anyhow, you should have a proper research on them. Make sure they can work for you without any conflict of interest. An agent with A.B.R designation is highly recommended. If you are a first time investor in Dubai, we have a few investment tips for you. Don’t ever hesitate to ask what will be the cost and how they can reduce the investment cost?
Make sure you are dealing with a real estate agent licensed for Dubai.
The first thing you have to make sure before deal with a real estate agent is that they are legally entitled for that. Dealing with an illegal agent means you are doing an illegal activity with your hard earned fortune. Dealing with an illegal agent can not only make money lose but also can push you to legal hurdles.
Whether they are qualified for consulting?
Some of them are not, but you will realize only when you have made a bad investment. Reference from a friend or family is not just enough. Check whether they are qualified for the job. Push your questions to them on how they can reduce the cost of your investment and see how qualified they are for your needs. You can request them for a few references from their previous clients if needed.
Knowledge on real estate market and current trends definitely can reduce the investment cost in Dubai
It is incredibly important to have a thorough knowledge about the market condition and trend. Only an agent with a holistic view about the local market can lead you to your dream property. The experience in the local market is important for negotiating the deal. Cost of your property deal determines your rental yield.
Organized with attentions to the details
A good agent will always be organized with their process and will be detail oriented. This gives you a lot of space for your concerns and interest about the deal. A good real estate agent can know the tiniest point to negotiate and hence to reduce the cost of investment to keep the deal under your budget.