by My Off-Plan Dubai 
Buying or selling property in Dubai alone can feel like navigating a maze without a map. With a complex mix of laws, regulations, fees and paperwork spanning developers, brokers, and government agencies, even the savviest investors can find themselves lost.
But what if you had an expert guide leading you each step of the way, someone who is thoroughly familiar with the ins and outs of Dubai’s property landscape? This strategic advisor is a real estate brokerage who can get you the best deal while avoiding costly mistakes.
How can a brokerage help in the property buying and selling process?
A brokerage can play a crucial role in the property buying and selling process. Here’s a step-by-step guide to how a brokerage can help:
- Valuing the Property
The brokerage can help value the property and determine a fair selling price.
- Preparing the Sales Listing
This involves interviewing the seller, preparing the property, and promoting the property. A brokerage can assist in organising and managing key information about the properties being sold and the clients involved.
- Negotiation Process
Brokers can help navigate the negotiation process and ensure that the necessary financial arrangements, such as mortgage pre-approval, are in place before proceeding with a potential buyer.
- Listing the Property for Sale or Finding a Property
The selling agent can list a property for sale, while the buying agent can help find the perfect property for the buyer.
- Commission Distribution
The brokerage is involved in the commission distribution between the buying and selling brokerages, agents, and other team members.
- Closing the Transaction
Brokers can assist in negotiating closing costs and ensuring a smooth closing process for both the buyer and the seller.
Buyer and seller sign the sales and purchase agreement, where all the terms and conditions of the deal are mentioned: the purchase price, additional expenses (agency fee, transfer fee at the DLD, developer’s fee, service charge refund, etc.), the transfer date of the deal at the DLD, terms of payment and clearly-defined responsibilities and penalties for both parties in case they fail to uphold the conditions set out in the agreement.
On signing the agreement, the buyer pays the deposit. This is usually 10% of the purchase price. The seller applies for a no-objection certificate (NOC) from the developer to sell the property. The NOC is required for the transfer process at the DLD.
Once the NOC is ready, the buyer and seller can transfer and register the property in the buyer’s name. Usually, payments need to be made at the time of registration.
If buying a property directly from the developer, the SPA is signed. The Sales Purchase Agreement, or SPA, is an important document you sign with the developer with all the agreed terms and conditions of the sale transaction.
The right brokerage can steer your Dubai property transaction to success through market expertise, regulatory knowledge, and robust professional networks. Assessing brokerages based on these key considerations will give you confidence that you are in good hands.
The Role Of A Broker In Dubai
To gather the required information from the seller/landlord, for example:
- Landlord’s / Client’s Detail
- Type of Property Available or Required
- Purpose Sell/Rent
- Location
- Project Name
- Land Size
- Bedrooms
- Balcony
- Parking
- Private Garden Back/Front
- View
- Amenities and features
- Nearby Attractions
- Furnished/unfurnished
Collecting the necessary Documents
- Owner’s Passport
- Emirates ID
- Title Deed
- Oqood
- N.O.C
Collecting property photos based on the number of rooms
- Studio (5 to 8 photos)
- 1 to 2 bedrooms (8 to 10 photos)
- 3 to 5+ Bedrooms (11 to 15 photos)
The broker ensures high-quality images are added to the property listings. Photos shouldn’t have people or toilet seats up; they must be high resolution and in landscape mode.
You can view all relevant documents required by the Dubai Land Department here.
What Assistance Brokers Provide to Sellers in Dubai?
With Dubai’s fast-paced, highly speculative property landscape, leveraging an expert brokerage can make or break a seller’s ability to secure the best deal. Key benefits a broker provides include
- Guiding pricing strategy through data-backed valuation models and insight into market movements and demand drivers. This optimal pricing maximises seller returns.
- Facilitating access to qualified buyers from the brokerage’s extensive domestic and international investor network.
- Managing aspects like marketing, viewings, negotiations, documentation, and mortgage processing for a smooth end-to-end sales process.
- Advising on ownership structures, power of attorney setups, and account openings is critical for expatriate and overseas sellers.
- Ensuring compliance with all RERA guidelines, legal formalities, and post-sale asset management requirements.
- Providing advice on using sales proceeds for future repatriation or reinvestment in optimal Dubai assets based on seller priorities.
The right brokerage combines market mastery, regulatory expertise, and client relationships – prerequisites for successfully monetising property assets in Dubai.
How A Broker Can Help Sellers In Dubai in Sales Transactions?
A trusted brokerage guides buyers through Dubai’s complex property search, transaction, and ownership transfer process – ensuring a smooth experience. Services include:
- Finance lease amendment application
- Gift registration application
- Mortgage amendment application
- Mortgage registration application
- Mortgage release application
- Mortgage transfer application
- Registration of a property sold by auction application
- Finance lease registration application
- Lease To Own Registration Application
- Power of Attorney cancellation notarization application
- Registration of the sale of a mortgaged property (registering a property for sale) application
- Sale registration application
- Finance lease release application
- Finance lease transfer application
- Lease To Own amendment application
- Lease To Own transfer application
- Lease To Own release application
- Usufruct right amendment application
- Usufruct/Musataha right registration application
- Usufruct right termination application
- Permit to sell real estate by public auction for companies’ application
- Company registration application
- Registration of real estate fund companies in the register of privileges
- Grant property mortgage
- Sale procedure (heirs)
- Company shares sale
How Does A Broker Help Landlords Find Tenants?
Brokers assist landlords in securing reliable, long-term tenants in several key ways:
- Market Listings – Brokers list landlord properties on industry listing sites like Bayut and Property Finder to expand visibility among tenant searches. This wider exposure draws more leads.
- Screening – Brokers handle tenant inquiries, vet profiles, check previous rental history, and assess affordability. This screening filters out unqualified prospects before they view units.
- Showings – Brokers schedule, handle, and follow up on unit viewings to ensure landlord time isn’t wasted. They showcase properties in the best light.
- Applications – Brokers collect and prepare tenant applications encompassing key details like employment letters, visa copies and previous rent checks.
- Negotiations – Brokers negotiate rental rates, payment timelines, contract terms, maintenance obligations and other details on the landlord’s behalf.
In sum, brokers tap their networks, resources and expertise so landlords can efficiently identify reliable, long-term tenants for their units. The time and effort saved make broker fees well worth the investment for most landlords.
How to choose the right real estate brokerage in Dubai?
With hundreds of real estate brokerages in Dubai, knowing where to start your search can be overwhelming. The key is identifying a few key factors that indicate an agency’s level of professionalism, market knowledge, and ability to meet your buying or selling needs.
- Look for an established brokerage with experience facilitating property deals in Dubai. This indicates their understanding of market conditions and relevant laws.
- Seeking the expertise of a local area specialist is advisable for locating property in your preferred area.
- Opt for an agency with international reach and networks if you require support connecting with overseas investors or developers.
- Brokerages specialising in specific property types, like luxury villas or off-plan builds, can provide targeted, insightful advice.
- Check credentials like registered broker status and membership in reputed industry associations as markers of a brokerage’s standards.
- Look for hands-on, consistent agent-client relationships rather than dealing with many fragmented representatives.
- See if the brokerage has in-house mortgage, legal, and property management support for a smoother end-to-end process.
What Are The Regulations For Real Estate Brokers?
Operating as a licensed real estate broker in Dubai requires adherence to guidelines set out by the Emirates Real Estate Regulatory Agency (RERA) and broader UAE federal laws. Key regulations cover:
- Licensure – All brokers must hold a valid real estate licence from RERA to conduct property transactions or manage properties. Licence renewal is required annually.
- Audits – RERA conducts routine audits of agencies to ensure compliance with advertising, brokerage, and property management rules. Fines apply for violations.
- Escrow – Brokerages must hold buyers’ payments in designated escrow accounts until transactions are registered with the Dubai Land Department. This protects buyer funds.
- Disputes – RERA manages broker-client dispute resolution through a real estate arbitration process. Brokers are expected to engage constructively if issues arise.
- Commissions – Maximum brokerage commission rates are set by RERA and detailed in listing agreements signed with clients. This aims to protect seller interests.
- Advertising – Marketing material must be transparent and truthful, and brokerage fees must be outlined clearly. False or misleading information can warrant penalties.
In 2023, there were more than 12,000 real estate agents in Dubai. Keeping up to date with RERA statutes, following ethical best practices, and employing qualified brokers are key for agencies. This ensures full compliance and positive client relationships.
The real estate industry continues to be an important pillar of the United Arab Emirates’ economic diversification. In 2023, the UAE’s GDP was forecasted to grow by 2.8%, with the non-hydrocarbon sector, which includes real estate, estimated to record a growth rate of 4.2%. This indicates the significant contribution of the real estate sector to the UAE’s economy.
What legal obligations must property agents in Dubai fulfill?
In Dubai, property agents must follow certain legal requirements set by the 2006 Law No. 85 on real estate broker regulation. These include:
- Obtaining a valid trade licence from the Dubai Department of Economic Development.
- The brokerage company and its agents must be registered with the Real Estate Regulatory Agency (RERA). Upon registration, the agency receives an Office Registration Number (ORN), and each agent gets a Broker Registration Number (BRN).
- All agents working for a brokerage must have a certificate from the Dubai Real Estate Institute (DREI) and pass a professional exam conducted by the RERA.
- Brokers are required to adhere to a Code of Ethics set out by the RERA.
Why Is It Crucial To Work With A Registered Agent In Dubai?
Dubai’s property market is diverse and complex, especially for newcomers. It’s hard to pinpoint responsibility in property transactions if issues arise.
Registered real estate agencies serve as middlemen between buyers and sellers, providing clear accountability. This clarity is essential as not all agents in Dubai are registered. Homebuyers and tenants should ensure they deal only with registered agents to protect their investments.
These agencies have a moral duty to negotiate deals beneficial to both parties. For instance, they handle deposits from buyers, holding them until the seller is paid. This arrangement ensures that buyers get their deposit back if the deal falls through due to the seller, and sellers receive compensation if th
List of Best Brokerage in Dubai
With over 21,501 active brokerages in Dubai, the emirate is home to some of the Middle East’s most prominent and innovative property agencies catering to luxury buyers, expatriate investors, and major developers. To help identify market leaders in this competitive landscape, we have compiled the following list of elite brokerages based on industry awards, transaction volumes, online ratings, years in business and market dominance of specialised property sectors.
- Khalaf Bin Saeed Alotaiba Real Estate Brokers
- E-Home For Real Estate Buying & Selling Brokerage
- Jnana Real Estate Brokerage
- Majid Sultan Real Estate Brokerage
- Marbill Tower Real Estate Buying & Selling Brokerage
- Al Rasikhon Real Estate Brokers
- Aqar Real Estate Broker
- Humaid Al Nuaimi Realstate Broker
- Space Star Property Broker
- Space Star Property Broker
- Royal House Real Estate Brokers
- Dynamic Real Estate Broker L.L.C
- The Real Estate Broker
- T.P.S. Real Estate Brokers
- Grand Home Real Estate Broker
- Al Asala Real Estate Broker
- Global Gate Real Estate Broker
- Grand Home Real Estate Broker
- Direct Solutions Real Estate Broker
- Coast Sea Real Estate Broker
- Alamo Real Estate Broker
- Remington Properties Brokers
- Kalkar Real Estate Broker
- Bizlink Real Estate Broker
- W Capital Real Estate Broker
- Ace International Real Estate Brokers
- Future Horizon Real Estate Broker
- Open Source Real Estate Broker (L.L.C)
- Midline Real Estate Broker
- Ever Shine Real Estate Brokers (L.L.C)
- I Bacom Broker Real Estate
- Pamir Property Brokerage
- Alich Real Estate Broker (L. L. C)
- Destiny Real Estate Broker
- Richland Real Estate Brokers
- Sun And Sand Real Estate Broker L.L.C
- Al Maymana Real Estate Brokers L.L.C
- International Real Estate Brokerage
- Vision Avenue Homes Real Estate Brokers (L.L.C)
- Ridgewood For Real Estate Buying & Selling Brokerage L.L.C
- Leonardo Real Estate Broker
- L . Y . M Real Estate Brokers(L.L.C)
- Fairfield Real Estate Broker (L.L.C)
- Sara Real Estate Brokerage
- Real Heights Real Estate Broker
- Revolution Real Estate Broker
- Key Point Real Estate Broker
- Monaco Real Estate Brokers L.L.C
- Essence Of Arabia Real Estate Broker (L.L.C)
- Cubic Real Estate Brokers
- Samimi Real Estate Brokers L.L.C
- Sites Real Estate Brokers
- Wood Bridge Real Estate Brokers
- Al Kawthar Kingdom Real Estate Brokers
- Cosmos Star Real Estate Broker
