How to Build a Real Estate Business Brokerage in Dubai?


How to Build a Real Estate Brokerage Business in Dubai

 

Nowadays, the purchase of a home is no longer an action intended only for those who are getting married, but it is also an investment. Therefore, it may be a good idea to set up a real estate, a very profitable enterprise, due to the ever growing clientele and the good moment of the real estate market. In big towns, it is not easy to buy a house or find quality property for rent. So, hiring a real estate agent is a practical way of not having to go out yourself to do the search by paying only the commission.

 

Most homeowners also have no interest in doing their search for customers, hiring and collecting the values themselves, so hiring a real estate always ends up being the best option.

 

Real estate acts as an intermediary in the transaction of buying and renting a house or commercial property, profiting from its services based on a commission of the value of the property. That is, the more expensive the property value, the more profitable your day job as a real estate broker. It is no coincidence that in less than ten years, some cities have seen more than twenty new real estate developments, a short time for big growth in this sector alone.

 

  • Business activity name: Buying and Selling of real estate
  • Business activity number: 701001
  • Activity group: Real Estate
  • Activity Description: Includes firms engaged in buying and selling real estates, such as residential and non-residential buildings and land, such firms are not allowed to practice the activity no. 6599-08 ” Real Estate Development.”

 

Is Your Business Idea Lucrative?

 

Once you set up your business plan, the next step is to take care of the structure of your real estate. You will need to have an office, if possible, near the area where you will be working.

 

The structure is very simple and therefore low-cost, with an office desk, chairs for you and your visitors, computer with Internet access, a file for contacts, this can be done in a closed bookcase, printer, Landline and cell phone, and a vehicle to move around, as you often need to show a property.

 

The costs for setting up the office are relatively low, already including the first two months of rent (depending on location and part). An alternative is to work from a Work Station located within a Business Center in Dubai to lower costs if you are setting up a low-rise real estate to target middle and lower-class neighborhoods.

 

What it Takes to Build a Real Estate Brokerage

 

If you are a broker in real estate, know that working with sales requires a little bit of dynamism, creativity, and friendliness. Selling a house or renting a property requires a lot of dynamism and therefore, it needs to have a good dynamics of speech to talk to the clients. The industry professional, called a broker, needs to understand that the product he markets is not cheap and means an investment for the future. Therefore, the buyer needs to be sure of what he is buying, and the sale may take a while. So you need to get in touch, be attentive to your customer to get the business done and win the customer, which will probably point you to future sales.

 

Major requirements to set up a Real Estate Brokerage

 

To open a real estate, you must have a very specific documentation. You must have a sales knowledge, a high school diploma or a degree in Real Estate. Therefore, large real estate companies invest in courses to train their new professionals who will work alongside the client list. Also, owners, partners, managers or directors of a real estate company must have the documentation of a simple firm with the opening of a registration number, as well as being individually enrolled in the Regional Council of Realtors.

 

A real estate course has to be attended in the land department in order to be qualified for the license issuance.

 

The course duration is 20 Hours and the cost is AED 3,020. OR AED 12,020 (49 Hours) for those who didn’t obtain a post – secondary degree.

 

It is also necessary that the registration number of the Real Estate Agent, or legal entity, is in all advertising related to the company, besides having a deed that it is a real estate so that this is clear to the client. In addition to taking care of the opening of the company, it is necessary to be properly registered and certified by the Land Department (RERA).

 

Process – 6 Steps

1. Name reservation;
2. Initial Approval;
3. RERA Course & External Approvals;
4. Office Rent;
5. Signing the MOA “Notary Public”; and
6. License Issuance.

 

How to advertise your services when setting up Real Estate Brokerage

 

Once you set up real estate, you have to run to become known and be able to do good business. Transactions earn your profit. That is: the more you sell, the more you earn. Therefore, the ideal is to set monthly goals to be achieved and thus maintain a steady revenue to avoid the failure of your business. In a way, you make your salary, because the more you work, the more you earn. If, with two houses sold, you get a good salary, keep the minimum goal of selling two properties and get acquainted in your area of operation.

 

Another tip is to opt for local disclosure. Newspapers with real estate listings are always a good request, as this is the most traditional way of looking for a place to buy or rent. Also, customers always look in newspapers because they believe the owners have advertised, avoiding paying the commission of the real estate. Some other websites are available for the Real Estate Agents such as “www.propertyfinder.ae” and “www.dubizzle.com”. These platforms deliver a huge number of sale conversion in the region.

 

Do not forget simple media like business cards, poster at some visited spots and leave your phone with friends who are thinking of buying or renting a space.

 

Website for Real Estate Brokerage

 

Another tip is to opt for internet sites. There are several platforms and, even here on the site, which teaches you How to Build an E-Commerce, where you can put photos and even a house plan. Still, you can opt for online sales, further optimizing your purchase, using marketing actions.
The best way to get started in real estate sales on the internet is by creating a website for real estate. Several companies are specializing in the creation of websites for real estate, but stay alerted, do not solve your problem just create the site, you also need to optimize it for search engines, especially Google, as that is where your prospects will find it.

 

 

Optimized page in Google Maps when setting up the Real Estate Brokerage

 

One way that you do not know and that I’m revealing now of being found on the internet is to create an optimized page on Google Maps. It works like a digital phone book. The customer types in Google, for example: “XYZ real estate,” and he searches for these results on Google Maps pages.

 

If you are planning to start your Real Estate Brokerage Business in Dubai, let us know and we will look after all aspects of business incorporation.

 

Related Article: Starting Mainland Companies in Dubai has become Faster and Easier

 

 

 

 

Ahmed Saeed
Managing Director

Author

Ahmed Saeed;  Managing Director

Has breadth of knowledge within the Business Structuring, Investment and Wealth Management Industries. He has been working in these sectors for over a decade.

Ahmed prides himself on his extremely high level of client service together with his reliable, informative advice and guidance to ensure his clients achieve their Business Goals.