How to Become a Real Estate Agent in Dubai

Dubai is an emerging real estate sector. People from all walks of life and different parts of the world are taking a keen interest in it. The company has a strong economic background, a diverse population, and a fast-developing real estate sector. These elements fit in like the puzzle pieces to make Dubai an ideal destination for entrepreneurs and professionals seeking a career in the real estate world.

Based on sales performance, Dubai-based real estate agents earn a handsome amount, either through commissions or bonuses. This reflects their upsurging demand in Dubai, resulting in them getting paid higher in comparison to other regions. A real estate agent can earn up to 29,000 AED in Dubai, making it one of the highest-paid jobs. So, if you want to be one, you can open your doors to a successful career.

Why to Become a Real Estate Broker?

Now, you will be thinking of the benefits and drawbacks of becoming a real estate agent. So, let's dive in and take a look at the benefits you can get by choosing this profession as your career.

1. Flexible Working Hours

The top of the chart shows the flexible work hours for this job. Real Estate brokers have the choice to set their own working hours and thus effectively maintain a work-life balance. This is an attractive choice for those who prefer working according to their own will. Post-COVID, people who enjoy the perks of working from home can also opt for this profession.

2. Higher Earnings

Second, there are high earnings from working as a real estate agent. Since it is one of the most paid careers in Dubai, you can gather a handsome fortune for yourself and your family. With each significant deal becoming successful, the agent gets paid a huge amount. This is a jackpot for those who can effectively close deals and create a strong client base. From a viewpoint, this can be regarded as one of the prime reasons for pursuing a career in the real estate industry.

3. Job Diversity

To your utter surprise, real estate is a diverse field, and agents can enjoy the variety and diversity of their jobs. You interact daily with people from different walks of life, visit properties of various types and close deals. This makes this profession exciting, challenging, and rewarding.

You are either helping a family to get their dream house, finding a new office for a commercial client, or looking for a property for an entrepreneur to set up his restaurant or salon in an affordable and lavish locality. You get to interact with people of different natures and demands. This seems to be the most challenging part of the job. And getting your clients what they want gives you the rightly deserved adrenaline rush!

4. Professional Skill Development

Cherry, on top, is the experience you gain by working with all these clients. Ultimately, this provides you with an opportunity to excel in your career. Agents gain knowledge and experience with every deal they close and every client they interact with. This helps them to polish their leadership skills and, in the long run, enables them to open their own real estate agency. It can double their earnings or even more! Thus, the more experience and expertise a person has, the greater the chance of professional growth.

What Does A Real Estate Agent Do?

You may think that a real estate agent only facilitates transactions. But in reality, real estate agents in Dubai are trusted advisors who handle a number of deals and situations while searching for a property or putting it on sale. Their job includes the following roles;

1. Assisting Property Buyers and Sellers

First and foremost, they must have detailed knowledge and grasp of the diverse neighborhoods in Dubai. This makes them aware of the price ranges, legal practices, and property types in a particular area. This ultimately enables them to guide the client according to their preferences, budget, and needs.

2. Representing their Client

Real estate agents negotiate between the selling party and the property's buyers. They are the best representatives of their clients' interests.

3. Finding Right Property

Real estate brokers have knowledge about properties and pricing. Thus, they can immediately procure and highlight the best match that aligns with the client's needs. They arrange site viewings for clients and provide them with detailed information on that and, likewise, the price range. They also answer all their queries and ensure their clients are satisfied.

4. Legal Compliance

There are certain rules and regulations related to real estate transactions in Dubai. The responsibility of closing the deal on legal grounds levies on the real estate agent.

5. After Sales Services

The real estate agent also provides post-purchase support. They ensure the client has proper utility connections and complete the property registration process. They can also recommend the best local services to the client. All these points add up to the client's ease and comfort.

Steps and Procedures for Becoming A Real Estate Agent

Now, if you have finally decided on opting for Real estate as a career option in Dubai, you need to learn the basics. But don't worry! You can easily get an idea by reading this article. The minimum age requirement to apply for a realtor license is 21 years old. Only then can you start working as a real estate agent? Here's a detailed outlook of the procedure on how to become a real estate broker in Dubai:

Step 1: Get a Residency Visa (For Expatriates)

If you are a foreigner who wants to become a real estate agent in Dubai, you have to get your residency visa. This includes having a secure residency permit, which can either be obtained through a spouse working here or by an employer. In addition, an Emirates ID is needed to start the visa application procedure.

Step 2: Apply for DREI Certified Training

DREI

Next, you must enroll in the Dubai Real Estate Institute (DREI), an RERA-approved training program. This four-day certified training course gives you a comprehensive overview of the sector, rules, regulations, laws, and practices of the Dubai real estate market.

Courses

This program covers the following topics: History and Development, The Business a Broker has to be good at, how to introduce the Association, the Sales and Agreement process, Leasing and Rentals, Definition and Market Players, Ethics, Skills, and other Legal modules.
They provide online classes as well as sessions at the Dubai Land Department. To register, you need your Emirates ID and a photocopy of your residency visa. The course costs 3000 AED.

Step 3: Attend the RERA Exam

After the training is completed, you must pass the RERA registration exam to become a real estate agent in Dubai. The price range varies according to your degree.

I) Degree Holders

If you have a bachelor’s degree, you must pay a sum of 3200 AED for the RERA registration exam.

II) Non-degree Holders

Those who do not have a bachelor’s degree at least have to pay 6,300 AED for the RERA registration exam. If they do not have a degree, the exam can cost them a hefty 15,750 AED.

Step 4: Obtain Realtor License

Finally, when you are done with the RERA examination, only one easy step is left.

I) Required Documents

You have to send your RERA examination passing confirmation, certificate of good conduct, and DREI course completion certificate to the authorities.

II) Approval Process

The Economic Department will approve you after verifying your documents. Then, you will get your Broker's License.

III) LicenseRenewal

You have to keep in mind that the license expired and has to be renewed

Cost of Establishing Real Estate Brokerage Services?

The cost of a Real Estate Agent License ranges up to 10,000 AED. It depends on several factors:

• First, DREI Training
• RERA exam registration
• Application Fee for License
• Renewal Fee annually
• Service fees by the government

Renewing Real Estate Broker License in Dubai

Renewal of a license is an easy process, but you need to be aware of the deadlines and latest requirement details.

• There is a renewal exam, for which you must apply on the DREI website at least a month earlier. To pass the test, you must have a minimum of 85%.
• Get your required documents, RERA exam passing confirmation, clearance certificate from the police, and passport-sized picture.
• Submit the required details, documents, and online application through the Dubai Land Department website. The license will be renewed in 5 to 10 working days.

A valid license is essential to pursue a professional career in real estate in Dubai. Thus, prioritize the renewal process.

Recent Trends and Opportunities

There are exciting opportunities out there in the real estate industry for keenly interested agents. The key trends are as follows:

• A recent shift in clients' priorities towards sustainable communities has been observed. So, if you specialize in this domain, it can help you enter a popular market.
• Off-plan properties offer attractive incentives. They provide good capital investments, making them a potential option for real estate agents.
• Already established societies are saturated. Thus, agents should divert the client's attention towards under-construction projects such as Silicon Oasis, Jumeirah Village Circle area, etc.
• If you belong to a middle-class family, these agents also cater to you. The Dubai government has launched projects that are within affordable ranges. And the agents connecting these two sources will be in demand in the near future.

Challenges for Real Estate Agents

There are two sides to a picture. With opportunities come challenges. Thus, the Dubai Real Estate market faces some cons.

Competition

It is a highly competitive professional environment. Many experienced agents are out there looking for clients, so there is tough competition. Agents must keep themselves updated, have unique selling capabilities, and have a strong network of connections.

Regulations

The agents must follow strict policies and regulations and fulfill the license requirements at all costs.

Language and Cultural Barriers

For effective communication, you need to be fluent in that language. However, since there are many ex-pats living in Dubai, This makes communication a barrier between the client and the agent.

Market fluctuations

Global economic trends influence the prices and demand for real estate in Dubai, likewise affecting the income of real estate brokers. Thus, managing living costs in this time of inflation becomes a challenge.

Essential Tips for Real Estate Agents

Now, considering all the pros and cons listed above, if you have decided to choose real estate as your profession, here are a few tips that can help you stand out from others.

• Joining a Well Known Real Estate Organization: Such an organization helps with the registration process and provides benefits in addition to a competitive environment.
• Expand your network connections: The key to success is growing your network and making connections with experienced real estate agents, buyers, sellers, and clients.
• Surge the Social Media Reach: Social media can attract potential clients and customers.
• Gain Expertise in your Region: Become an expert in the area you work in. Know about their healthcare facilities, educational institutes, recreational facilities, and other basic facilities.
• Work according to your Timetable: To reach your goals, you have to make a Schedule and then stick to it. This helps in both personal and professional growth and ensures punctuality.
• Dubai's Real Estate Activity Practice Card: It is an official document issued by the DLD that allows real estate agents and organizations to work within the Emirate.

These are some of the important points you need to know before you start working as a Real estate agent in Dubai. So now you are good to go with the details.

Closing In

Anyone aiming to pursue real estate as a career in Dubai has to take a registration exam from the Dubai Real Estate Regulatory Agency (RERA). To do this, you must take a short certified course of 4 days with Dubai Real Estate Institute. In the end, you need to qualify for an exam covering the subjects of property management, law, and ethics. Then, you will get registered as a practice.

Our guide to becoming a real estate broker in Dubai is coming to an end now. It's important to remember that the most challenging part of the procedure starts once you receive your license. Credentials alone are insufficient to succeed in the competitive United Arab Emirates real estate market. And, of course, develop daily habits that will allow you to stay ahead.