Confessions of a Real Estate Agent - June 2017
A British couple who have a successful family business supplying shops here in Dubai with furniture want to establish a sales team and distribution centre in Dubai and are interested in purchasing an apartment rather than continuously paying for hotels.
Doctors from the US and the UK are being attracted to Dubai for its booming medical tourism industry which accounted for over $1 billion last year in revenue to the local economy.
A British Indian couple, a doctor and his wife, who have lived in the UK for 40 years, come over to Dubai for a week during which they view many developments with me and then finalize an off-plan investment which will give them a significant rental yield when completed.
Finally, two UK teachers who have lived here for five years and are currently renting in a poorly-maintained two-bedroom apartment within Dubai Marina. They are now looking for a high-quality home to rent and are prepared to look outside of the area to find something suitable at an affordable price.
These brief stories make up the different colours to my client canvas, united by opportunities in the city to invest or rent. The start of my professional relationship with them usually begins with an email and then a telephone call, some email correspondence including my regular property updates and monthly newsletters, a few more calls all leading to a visit to Dubai.
One of the main reasons I do this job is the relationship building that takes place between the client and myself. I have written about this in past newsletters. I love helping people to make up their own minds about a property investment or rental. It is what gets me out of bed each day, the desire to meet and assist people in realizing their sometimes ambiguous and unclear wants and wishes.
To help them, I usually offer a car tour to clients with whom I have built a relationship through email or telephone correspondence. I spend a lot of time listening to my clients, gauging their depth of understanding and belief in the city. Only after this initial period of contact will I suggest we meet when they are visiting Dubai. I offer them a thorough overview of the different locations around Dubai, show them the developments and explain the differences plus the history and the future plans.
Many clients already know the malls, the hotels and the beaches of Dubai, however I take them away from the tourist areas and we explore and discuss the good, the bad, and the ugly side of Dubai’s real estate developments. I do this because I take care of my clients and show them everything, warts and all – I want them to make up their own minds, not to be swayed by my possible bias.
I spend much of the tour listening, attempting to discover the reasons – lifestyle, family, business or investment – why they are interested in Dubai’s property market. I show them different developments to help them understand and discover their own reasons that will enable them eventually to select a property that suits their requirements.
In summary, I have always found these tours to be the best way to learn more about what clients are expecting and also their plans. Then whenever they are ready to make their move, I will know how I can assist them and they will also understand how I work in their interests.
I call it my “Dubai Property Tour” – free of charge and I can assure everyone who comes on board that there will be absolutely no pressure from me. I simply show what is on offer, proffer advice and sometimes caution, answer questions and manage concerns, while having a great time getting to meet and know a new set of clients, often marking the beginning of a long-lasting and fruitful relationship.
Steven Leckie