Wednesday, 2 January 2013

Role of Real Estate Agents in Dubai

Real Estate agents are the professionals responsible to play critical role to operate primary functions of real estate section in Dubai. They not only help home owners, sellers, buyers and tenants to make flawless estate transactions rather they also support overall growth and progress of the whole estate and property industry. Asset market in Dubai is one of the dynamic real estate markets of the world where investors purchase lot of properties from developers from developers and homeowners. RERA the Governmental Real Estate Regulatory Authority has developed a proper licensing system for professionals and also designed a proper legal frame work to disallow agents to make illegal transactions. Such steps are extremely helpful to maintain a healthy environment and it allows buyers and sellers to ask agents to show their licensure before finalizing their negotiations about property deals.

Primary Roles and Responsibilities of a Professional Real Estate Agent

Duties of real estate agents may vary upon the type of sector they are working for. Irrespective to their specific departments they all work for the interest of their clients. Below are the few important duties of professionals, working as a real estate agent in Dubai. Primarily their duties may depend upon the role they are performing. Some of them help their clients to buy or sell properties where as some works as a property manager. Generally, professionals deal with property management, lease, pricing and buying of residential, commercial, rural and industrial properties or undeveloped piece of land on behalf of their clients.
  • If a real estate agent assists his clients to sell or purchase a property then he provides comparative analysis of current market to give his client an idea about how much price he should set to list his asset to sell or how much he should offer for an asset to purchase. In contrast a manager will give information about recent rental rates.
  • They also market properties of their clients for sale or rent purposes. They also try to find suitable buyer or tenant for his client’s assets.
  • Real estate agents also promote their client’s assets on web on their own website and blogs. Or they may be also associated with property management firms and list their properties on company websites to get more exposure.
  • In real estate market of Dubai, such professionals are not help homeowners in selling and renting their properties rather they also help common people and real estate investors to find suitable property for accommodation or establishing business or for investment purposes.
  • Professional real estate agents in Dubai also contribute in preparing contracts to complete whole process of real estate transaction. They open escrow account to facilitate payments and funds transfer to seller or home owner account. They also arrange property inspections for buyers and tenants before finalizing deal.
  • Property transactions are complex and involve large amounts of money. Buyers and sellers always expect their agents to possess good knowledge and skills to make the process flawless and smooth. All real estate professionals who are performing the role of agent must be proficient in handling whole process of asset deal from start to end. They must have good understanding of property laws and rules and regulation.
  • A professional agent must be able to identify the needs of his clients. He should not just force them to look at homes and other properties to purchase or rent. They should try to educate their clients in a way that they become able to take a wise decision to sell their assets.
Despite of understanding their duties and responsibilities, professional real estate agents must be disciplined and confident enough to build a trusted relationship with their clients. They also try to improve their skills and keep themselves up to date with current market trends.

2 comments:

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