What You Need To Succeed As a Real Estate Agent In Dubai

by Ashas Bukhari

What You Need To Succeed As a Real Estate Agent In Dubai

18 Apr 2024

Real estate agents are always in demand in the UAE. That is because the property market is more or less always booming, continuously growing and adding to the city's charm and global appeal. It is what makes Dubai stand out as a megacity of luxury, modern architecture, and futuristic skyscrapers. A career in this ever-expanding sector is not only exciting but also highly lucrative. So, if you are passionate about the property market and have dreams of becoming a successful real estate agent in Dubai, look no further. The Sandy Times will help you get on your feet.

Like any other profession, aspiring agents must go through recruitment procedures and training before they are officially certified to take on the job. If you are interested in becoming a real estate agent but do not know where to start, we have got you covered. This guide will take you through the whole process. But first, for those of you on the fence, let us dive into why being a real estate agent in Dubai is an excellent career choice.

Why be a real estate agent in Dubai?

Two words: adrenaline and satisfaction. Any real estate agent in Dubai will tell you, there are few feelings as exciting as closing a deal and hearing that ka-ching of well-earned money rolling into your bank account.

The excitement of negotiating deals and the satisfaction of earning money is a major draw for many individuals who want to become real estate agents in Dubai. If you have a natural talent for connecting with people and communicating effectively, you may find success in this field. And if these are not your strengths, they can be developed with practice and persistence. A career in Dubai's real estate offers numerous advantages, which we will discuss below.

No dearth of opportunities

Dubai attracts millions of people daily, and they all want to strike gold and find freedom. This demand drives the expansion of the real estate industry, which needs to constantly build new housing, offices, and other buildings for the city's growing population. The influx of residents also attracts foreign investors who contribute to major projects such as hotels, shopping centres, and residential complexes. As a result, there is a steady and ongoing flow of real estate transactions in the city without any shortage of activity.

Be in the middle of the action

Real estate agents in Dubai play a vital role in all real estate deals as they are the ones who make it all come together. They are essential players in any real estate deal, serving as the driving force behind its success. They act as intermediaries and negotiators between buyers and sellers, helping to bridge the gap and bring both parties together. Without an agent, the success rate of transactions would significantly decrease.

You get to wear lots of hats — not literally!

Being a real estate agent in Dubai means never having a dull or mundane day. The job requires you to take on multiple roles, such as that of a negotiator, salesperson, analyst, consultant, and marketer. You will always be faced with new challenges and opportunities that will keep you motivated and engaged.

M is for money

Real estate agents are usually paid through a commission system rather than a fixed salary, as they work for a profit-sharing partnership with their agency. This means that the amount they earn each month is based on the number of deals they successfully close, not their employer's decisions. Consequently, agents have the potential to earn a significant amount from each sale they make.

Financial freedom

Real estate agents have a great amount of financial freedom and independence. This allows them to determine their own income and provides the opportunity to become entrepreneurs outside of the brokerage they are employed by. They have the ability to create their own network, gather leads, and build their personal brand. Agents can cultivate their individual reputations based on the quality of their work and social connections.

Image: Midjourney x The Sandy Times

How to become a real estate agent in Dubai

Does all of this seem too good to be true? Well, in some ways it is. It is always a good idea to be realistic about making career moves. Too many agents have been sold the dream and only to come over and find out that, like in any other competitive field, being a real estate agent in Dubai is not without its challenges. We will talk more about this later, but for now, remember that while it may be challenging, the potential rewards and satisfaction make it worth the effort. This guide will help you take the steps you need to take in order to become a thriving real estate agent in Dubai.

First stop: Residency Visa (for non-GCC nationals)

If you are not a GCC national, it is necessary to obtain a resident visa for the United Arab Emirates (UAE) in order to live and work in Dubai for an extended period of time. There are various ways to acquire a resident visa.

Typically, an employer can act as your sponsor and apply for a work permit on your behalf. For example, if you are seeking employment as a real estate broker in Dubai through a real estate firm, they can serve as your sponsor for a resident visa.

Another option is if your spouse is already employed in the UAE and has a work permit, they can sponsor you for your resident visa. Once you have been granted a residency visa, you will also need to obtain an Emirates ID. Both the residency visa and Emirates ID are mandatory prerequisites for all future processes.

Image: Midjourney x The Sandy Times

No amateur hour! Get training

The second step in becoming a real estate broker in Dubai is completing a four-day course at the Dubai Real Estate Institute (DREI) called 'Certified Training for Real Estate Brokers'. This comprehensive course covers all aspects of Dubai's real estate laws and processes and is approved by the Real Estate Regulatory Agency (RERA), a division of the Dubai Land Department (DLD).

The course includes modules on ethics, sales procedures and contracts, and the history of Dubai's real estate industry. You can choose to attend the training online or in person at RERA's agent registration centre, located at the Dubai Land Department. The cost for the entire training is AED 3000. Before enrolling, make sure you have your Emirates ID and residence visa ready as they are required for attendance.

Taking the RERA exam

After four days of training, the final test is a written registration exam. This test must be passed in order to obtain a broker card and an official realtor license.

The cost for the exam is AED 3200 for candidates with a bachelor's degree, and AED 6300 for those without one.

Time to get your real estate license!

Upon passing the RERA exam, you will become a licensed realtor and receive a broker card. This signifies your official entry into Dubai's real estate industry and enables you to start working as an agent. Additionally, when applying for the license, you must provide a certificate of good conduct issued by the local police.

After submitting your application, you can expect to receive your license and broker card from the Economic Department within 2-3 business days. It is important to remember that you must renew your license one month prior to its expiration date.

Choose the right brokerage

Associating yourself with the right brokerage or firm will make or break your career as a real estate agent in Dubai.

Choosing the right real estate agency is a crucial and strategic decision for your career as an agent. It is important to partner with a company that has a strong market presence and impeccable reputation. This will not only increase your visibility to potential clients, but also provide you with high-quality leads, professional marketing support, valuable training, and access to helpful resources. Before making a decision, be sure to carefully review the brokerage's commission-sharing policies and employee benefits, such as health insurance and visa assistance.

Keep up to date on Dubai’s real estate laws

It is crucial that you acquire the necessary tools and knowledge to succeed as a real estate agent in Dubai. Gain an understanding of the inner workings of the industry, familiarise yourself with key players and their roles, and learn about standard processes, terminology, licenses, and contracts. This preparation will set you up for success as a real estate professional.

Image: Midjourney x The Sandy Times

N is for network, network and network

If there is one word that sums up the job description of a real estate agent, it is 'networking,' closely followed by 'lead generation.' In this industry, building and maintaining connections is crucial for generating leads, expanding contacts, and growing a client database. It also plays a vital role in establishing an agent's reputation.

Networking involves reaching out to potential buyers, sellers, tenants, and other agents. It also entails interacting with other key players, such as loan officers, building security personnel, and maintenance staff, who can assist in closing deals.

So, get out there and meet people! Attend events and make yourself approachable. There are various ways to expand your network - attending local real estate functions, joining networking platforms designed for professionals in the industry, or utilising social media to broaden your influence.

Keep in mind that the larger your network, the greater your reach, and the higher your chances of success in closing deals and excelling at your job.

BYOB: build your own brand

Building a network of potential leads is crucial, but it is equally important to market yourself.

Actively pursue each lead through phone calls and emails, using the resources and tools available through your agency. This is the first step in establishing your personal brand, which sets you apart from other real estate agents in Dubai.

Identify your unique qualities and use them to market yourself, whether you are a freelance agent or representing a brokerage. Utilise social media and showcase the quality of your listings to promote your personal brand. Enhance your listings with high-quality visuals, such as images, videos, and virtual property tours.

Additionally, sending personalised emails to past and potential clients is another effective way to nurture leads and showcase your talents as a real estate agent.

Find your niche and thrive

In a bustling city like Dubai, the real estate market is highly competitive with numerous agents vying for the same clients. It would not be wrong to categorise the market as oversaturated, so you need to set yourself apart.

To stand out, it is crucial to establish a unique selling point within a specific location in the city. You want to be known as the go-to agent for that particular area. This requires extensive knowledge about the neighbourhood - from schools and hospitals to shopping centres and leisure activities.

It is also important to stay updated on the area's history, major events and developments, population demographics, and similar factors. A thorough understanding of your chosen location will make you a valuable resource for potential clients. Remember: be a master of some areas and increase your footprint in them instead of trying to be a jack-of-all-places and having your finger in too many pies! Start in one niche, like luxury, commercial or residential property in one area, and become the best agent there. Then expand!

Stay ahead of market insights, prices, and forecasts

If the goal is to be great at your job, then being well-versed and updated with the latest insights and market prices will help you get there.

An experienced agent leverages this knowledge to establish their expertise in the field. Your clients will often turn to you for guidance and advice, so it is essential to be well-prepared to address their inquiries and satisfy their curiosity. Keeping up with industry news and resources through online sources, blogs, and reports is a smart move. You can also consider subscribing to these outlets and gaining access to memberships for various industry channels and portals.

The four Cs of success: Caring, Committed, Credible, and Capable

To be a successful agent, one must inculcate and cultivate a variety of qualities. The best agents are smart, determined, and strategic, maybe even ruthless. At the same time, they must also display empathy and genuine care towards their clients. The agent's main goal should be to ensure that their client gets the best deal possible in the market.

The four C value system, and this is an excellent example of all the necessary qualities an agent should have. Being caring and empathetic towards potential clients will make them feel comfortable entrusting their hard-earned savings to you. Conduct thorough research to understand your client's preferences and find the best options for them. Show genuine concern for their needs.

Success in closing deals requires commitment and dedication. This means going above and beyond, wearing multiple hats, and doing whatever it takes to see the deal through.

Credibility is key in this field, as it goes hand in hand with integrity. Only make promises that you can keep and always follow through on your commitments. Demonstrate your capabilities by performing your job with excellence. Use your negotiation skills to secure the best prices for your clients and work efficiently and systematically towards achieving goals. Be a problem solver and crisis manager, helping both yourself and your clients make informed decisions.

Image: Midjourney x The Sandy Times

Begin your career as a real estate agent!

The life of a real estate agent is challenging yet incredibly rewarding and fulfilling. It is a fast-paced and ever-evolving career that requires you to be adaptable and take on multiple roles to succeed. Dubai's real estate industry reflects the city's ability to meet the socio-economic goals of its residents by offering numerous economic and investment opportunities. By becoming a real estate agent, you can join in on this success and experience it firsthand. This career may be an ideal choice for those who excel at communication, enjoy meeting new people, and have strong negotiation skills.

Being an agent requires quick thinking, problem-solving abilities, hard work, and plenty of trial and error. However, once you learn the ins and outs of the industry, you will thrive.

At the end of the day, what matters most is the effort you put in and your ability to think outside the box. Do not follow the same strategies as the thousands of other agents out there. Instead, immerse yourself in the world of real estate, become passionate about the numbers and sales happening around you, establish yourself as an expert in your area, be genuine and honest with people, build relationships along the way, and enjoy the process. Respect yourself and your time and present yourself as a professional. Many agents have been lured in by the idea of quick success and come off as desperate to potential clients, causing them to lose deals. Make sure to thoroughly qualify clients before showings, as there are many who are just window-shopping and taking up time you can spend closing deals.

Dubai’s success stories are often exaggerated and marketed towards young individuals looking for a fast track to wealth. But the reality is that it takes hard work like any other career, and there is no shortcut to getting rich quickly. Real estate companies in Dubai are known for hiring without discrimination, and the playing field is as even as it gets. You do not need to be conventionally attractive; being presentable is important but more essential qualities include communication skills, common sense, and a willingness to learn.

We hope this guide can provide you with comprehensive information on how to kick-start your career as a real estate agent in Dubai.

by Ashas Bukhari