By What exactly does it take to become a successful real estate expert in the United Arab Emirates?
The most successful real estate experts in Dubai are those who keep an eye on the trends. They also make conscious efforts to satisfy the needs of the clients. Networking and building solid networks within the UAE real estate market is also a part of the plan.
What does it take to become a successful real estate broker? It often requires getting a permanent stay basis in Dubai, obtaining your license, and being strategic in marketing.
In this article, you will learn how to do to be a successful real estate agent in the country.
1. Get a Valid Residency Visa
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For you to do a real estate business in Dubai as an expert, you must get a valid residency visa. This means applying for a resident visa, which if granted, makes you a Permanent Resident (PR) in the country.
Note that this is important for ex-pats or foreign nationals who are looking to establish a successful real estate business in the country. Through this process, you will be admitted into the country and get to share some of the privileges as the natives of the United Arab Emirates (UAE).
The Emirates ID is also required.
There are two ways to apply for a residency visa, assuming you are not a native of the UAE. These processes are:
Spousal Sponsorship
If you have a spouse living in Dubai, the person can help sponsor your residency visa. Note that the person (who becomes your sponsor), needs to be a Permanent Resident (PR), before the time of making the visa application.
Apply for Work Visa
Don’t have a spouse or anyone to help you with resident visa sponsorship in Dubai? Don’t worry because you have another option – apply for a work visa. In this case, you want to get a work visa from your employer, who must be in Dubai. You may qualify for Dubai Permanent Residency (PR) and get access to other things you need to set up your real estate business.
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2. Enroll for the DREI Course
Your visa is processed and your Permanent Residency (PR) is confirmed. The next hurdle is to get certification in the area of real estate. This can be done by enrolling in the DREI course.
Dubai Real Estate Institute or DREI for short is a four-day professional course for intending real estate agents in Dubai. During the duration of the course, you can learn more about the real estate market in Dubai. That can help you know how best to approach the business.
Enrollment into the DREI course is subject to meeting the conditions. The conditions include paying the training fee of AED 3000, providing your Emirates ID and a copy of your residency visa. You will also be required to submit any other documents that may be required.
3. Sit and Clear the RERA Examination
The Real Estate Regulatory Agency (RERA) is the regulatory body of the Dubai Land Department (DLD). The DLD, in turn, oversees the examination and certification of would-be real estate agents in Dubai.
For this to happen, you are mandated to take the RERA examination. It is an assessment of your mastery of the Dubai/UAE real estate market.
The examination questions are mostly picked from your lectures during the DREI course. So, make sure you follow the course through and through so you can provide the required answers during the examination.
Non-degree holders are charged the sum of AED 6,300 before sitting for the examination. But if you are a Bachelor’s degree holder, you will only pay the sum of AED 3,200.
4. Obtain Your Realtor and Become a Real Estate Expert in Dubai
There are two conditions to getting the Realtor License. The license gives you the legal backing to become a real estate agent in Dubai.
The first is that you must clear the RERA examination. The examination proves you learned all that was taught during the DREI course.
The second condition is that you must be found worthy of good conduct. This goes a long way to show how you would likely relate with your clients.
With that being said, you have to submit the required documents and credentials to the Economic Department. After careful assessment, the department will process your realtor card and license. It takes anywhere between 2 days and 5 days for this to be done.
How to Promote Your Real Estate Business in Dubai as an Expert
Here are expert tips on how to promote your services as a real estate agent in Dubai:
Set Your Goals
Define your goals and set the strategies for accomplishing them.
Put a Decent Pricing
Real estate marketing is both about selling properties and making profits from the same. But pricing them right can do your business better than harm. Always keep an eye on the trends and offer flexible payment options, if need be. This way, you will attract more clients.
Don’t Forget the Power of Networking
Create a network of real estate agents in Dubai. You can also join an existing one if you don’t have what it takes to create one.
By being a part of a strong real estate network in Dubai, you get access to valuable marketing information. It also helps you to get in touch with experienced realtors, and get to meet new clients. These new clients are largely foreigners seeking profitable investment opportunities in Dubai.
Wrapping Up on Becoming a Real Estate Expert in UAE
The real estate market in Dubai is fascinating. This is considering that the United Arab Emirates (UAE) has become a haven of sorts for the rich and affluent.
You might just become one of the most successful real estate brokers in Dubai. Just be good at developing strong salesmanship skills, networking with other real estate companies, and investing heavily in marketing.
