Dubai's real estate market is huge. According to the Land Department, in the first six months of 2023 deals worth a total of 283 billion dirhams ($77 billion) were made. Many realtors come to Dubai because it is a good place for business. Every day, new companies open. You see many posts from local real estate agents on social media. For buyers, it is hard to choose a good broker. You need one who knows the market well and can give good service.
Why You Need a Realtor
The real estate market in the UAE is open. You can find property information online. Many deals happen from far away. Some buyers think, "I don't need a realtor. I can find a property myself and save money."
But in Dubai, this is not a good idea. If you don't use a broker, you might not save money. You might miss the best offers. If you have problems, you will have to solve them by yourself.
Indeed, developers pay realtors a percentage for each deal made in the primary market. But this doesn't mean that if you go directly to the developer, the price will be lower for you. Prestigious companies do not offer discounts. The price will stay the same, and the terms will likely be less favorable.
Top brokers are highly valued by developers as they bring in regular deals. It is these agents who are invited to exclusive sales at the start of projects, where the best prices and a wide selection are available. By not using a realtor's services, you will have to act alone and choose from what is left over and not chosen by the clients of top brokers, if anything is left at all.
So, you definitely need a broker. The question is how to choose a skilled professional...
How Many Realtors Legally Work in Dubai
Realtor activity in Dubai is regulated by the government. Two key bodies that monitor the market are RERA (Real Estate Regulatory Agency of Dubai) and DLD (Dubai Land Department).
The government issues licenses for brokerage activities. Currently, about 14,500 people hold these licenses.
To become a licensed broker, you need to:
Be a resident of Dubai (a simple tourist visa is not enough!).
Be employed by a real estate agency that has a commercial license (RERA card) and a certificate listing the services it can provide.
Complete training at the Dubai Real Estate Institute and pass an exam.
Training at official courses costs 3000 dirhams. You also need to pay for the exam, which costs 3200 or 6300 dirhams (if you don't have at least a bachelor's degree). Only people employed by real estate agencies or with a work permit in Dubai can take the exam.
The course covers many topics: market history, key terms, major developers, laws, legal documents that brokers deal with... All in English.
After completing the program, students take an exam. They need to score at least 85 out of 100 points. If they pass, they receive an individual broker card and a certificate of successful course completion. These documents need to be renewed every year.
So, the first thing to ask a Dubai realtor offering services is their individual broker license number (you can check this in the Dubai-Rest app under Dubai Brokers), and the agency's commercial license they represent.
This ensures that:
The person is a legally working specialist.
They represent a company authorized to conduct real estate activities.
Individual broker license in Dubai
Risks of Illegal and Unscrupulous Realtors for Buyers
There are also illegal realtors in the market. In such an active sector, everyone starts selling property: employees of luxury clothing stores, taxi drivers, recent buyers who made one deal, tourists on vacation...
If you use an unlicensed agent, you miss out on:
The best offers. For example, you won't access developer sales starts. To buy there, you need to register in advance, which only licensed agents can do.
Government protection. In case of disputes, you can go to court. But it's easier to protect your rights if you work with a company that values its reputation and Dubai work license.
Dubai's real estate market is relatively safe because all processes are standardized, digitized, and government-controlled. But risks still exist, even with a licensed agent.
I've heard stories about agents collecting reservation deposits from clients and then disappearing. But this is quite rare – there's little outright crime in Dubai. However, regularly encountered are dishonest and market-ignorant realtors.
What are the risks? For example, an agent might lead you to a developer offering them a higher commission, not the best one. As a result, you might end up with a non-liquid asset, barely profitable in the secondary market.
Some agents even offer to share part of their commission with buyers, just to make a sale. This practice is firstly illegal – if discovered, the agent is blacklisted. Secondly, you are unlikely to actually see this money. Between the deal and the realtor's commission payout, up to six months can pass, and then the agent might forget about you.
A Broker's License is Just the Beginning
A license is just a document proving the right to work legally in the market. It's not enough to just complete courses and pass an exam; this knowledge must be applied in practice.
Another simple way to quickly identify a skilled professional is to check their market experience – at least five years, ideally ten. The problem is that such realtors are rare in Dubai. This is due to the city's nature: people come to work for a few years, then return home.
Newcomers can also work well – they take their duties seriously and consult with colleagues if unsure (large companies have specialists in various fields). But in this case, it's important to choose an agent specializing in the real estate segment you're interested in. Mastering the entire market in a year is impossible, but mastering a sector is feasible.
I have a lot of respect for newcomers: they try hard, run around, and work excellently. Our agency regularly hires new brokers; we currently have 350 staff. We have a rule: we don't send a newcomer to the market until they personally visit all the developers whose properties they will offer to clients. Plus, we conduct internal training for experience sharing. And specialization: at the start, everyone chooses a market segment to work in. Only after gaining expertise in one area can they move to others.
Understanding if You're Dealing with a Professional
Beyond formal signs like a license, experience, and working for a respected agency, there are informal indicators. How deeply does the realtor understand the market? Can they explain why they recommend a particular property over others? Most importantly, do they try to understand your needs?
A professional acts based on the client's real needs, which often need clarification. For instance, a client wants a luxury apartment in Dubai Marina because a friend bought there. A professional would ask how they plan to use the apartment. If the goal is rental income, they might suggest a different option. Often, buying two properties for $250,000 each is more profitable than one for $500,000: the income could be at least 2% higher.
Reputable brokers and their companies with excellent sales records constantly receive invitations and preferences from leading developers. For example, photos of people queuing for 24 hours (yes, sleeping outside the office) before the Palm Jebel Ali sales start went viral. Villas started at $5 million, and there were only 400. Naturally, many left empty-handed after a sleepless night. Top agencies were invited to exclusive sales the day before, allowing their clients to comfortably choose their dream home.
Prepare for Long-Term Cooperation
Finally, when choosing an agent, think about what happens after finding the right property. Find out how the broker can help you. All else being equal, foreigners are better off with an agency that offers a full range of services, not just property selection.
What might this include?
Payment monitoring and communication with the developer. Most new constructions in Dubai are bought in installments, with several years from contract signing to handover. An agent can monitor payments, provide construction updates, and interact with the developer on your behalf.
Handover inspection. It's better to attend the handover with a specialist. They can help identify deficiencies and ensure the developer addresses them.
Rental management. You can also entrust this task to your broker. Ensure the company has a separate license for this service.
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Verify Documents: Check the individual broker's license and the commercial license of the company they work with.
Inquire About Experience and Specialization: Look for the realtor's recommendations and reviews.
Have a Conversation: Understand how deeply the realtor knows the Dubai real estate market. Most importantly, see if they try to understand your specific needs.
Clarify Additional Services: Find out what extra services the company offers, such as handover inspections, rental management, resale assistance, and help with obtaining a residency visa. These services will be useful later.
Be Skeptical of Social Media Self-Promotion: During peak times, in-demand specialists simply don't have time for daily videos and live streams on social media.
Please contact Banke International Properties for professional advice on real estate investment in Dubai
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