Dubai: Should you buy, rent property directly from the owner or through a property agent?

When picking an agent it is highly recommended that investors choose an area specialist

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Photo for illustrative purposes only. - KT file
Photo for illustrative purposes only. - KT file

By Aptin Sojoodi/ Realty Bytes

Published: Thu 9 Mar 2023, 4:43 PM

Last updated: Thu 9 Mar 2023, 5:08 PM

Providing guidance and assisting sellers and buyers in marketing and purchasing property for the right price, under the best terms, is a real estate agent’s finest role. A good agent should be able to determine the clients’ needs, matching their financial situation and propose suitable options. In order to advise clients on market conditions, prices, mortgages and related matters, the agent performs comparative market analysis to estimate properties’ value and stays up to date with the legal requirements. When the agent has found his client’s new home, it is the agent’s job to help with the negotiation, prepare documents such as representation contracts, and purchase agreements, closing statements, deeds and leases.

When picking an agent we highly recommend choosing an area specialist, this will ensure the agent has the best knowledge of the area and therefore negotiate the best terms for the client.

Why must agents be licensed?

The answer is simple, it is illegal for agents to work as a broker without being certified by the Real Estate Brokers Registration (RERA). It is essential agents apply for the RERA Exam and get the Broker ID. Only then will they be able to legally work as a broker, conduct contracts and have access to the right databases.

Pros and cons

When it comes to renting or buying a property in Dubai, there are both advantages and disadvantages to using an agent or dealing directly with the owner.

Here are the benefits of working with an agent:

Highly skilled at negotiating, ensuring the best terms are met

Full understanding of the market which will help the client find best option possible

One point of contact, the agent will keep track of messages, emails and follow ups with the landlords.

Wide selection of properties to choose from, as agents have access to listings from multiple owners and developers

Here are the disadvantages:

Agent fees

May experience communication delays or miscommunications with the agent

Possibility of dealing with unprofessional agents, although this can be mitigated by researching and choosing a reputable agent.

Ultimately, the decision to buy or rent directly from an owner or through an agent depends on individual preferences, budget, and goals.

- Aptin Sojoodi is a Real Estate Consultant at Betterhomes. Views are his own and do not necessarily reflect the newspaper's policy

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