Dubai real estate agents doubling up on charges

Posted by: Voya Saturday, 10 December 2011 2:56 PM[UAE] - UAE

I am a Senior Sales Consultant myself, with big network of specialized agents (the best in their areas),and I know they are not making that much money. Not even close.Other thing, I see some of commentors are not really aware of agent's job.Who ever think agents are only dubizzling properties and doing nothing else, they have a big problem with reality .Even if you want to list a property with Dubizzle and PF, you have to PAY for the ad, and no one guarantee you will sell or rent the property. It's on your own risk. I pay for my ads, I spent a lot of time to list the properties and make the ads, I spent a lot of unpaid time and effort to built my network which I mostly use to sell or rent a property (not Dubizzle or PF), ...etc.
Go and use e-sites if you think it's that simple...and face a months of empty apartments and unsold properties.

Posted by: Amazed Spectator Saturday, 3 December 2011 8:03 PM[UAE] - Australia

Simply amazing, some of the commentary on here........ Have you ever heard he saying "If you pay peanuts, you get monkeys" - well this rings true to all industries, bottom line is the seller and buyer pay a fee for search and acquisition, in addition to a level of service. If you are going to make comments on the real estate market in Dubai, and who should and shouldn't be paid, at least know what your talking about.

Comparably, the lettings market in the US, UK and Australia commissions will start at a minimum of 10% up to 15% for letting your property, and commissions for selling can vary depending on country 2%-8%.

Posted by: Wellwisher Wednesday, 30 November 2011 8:16 PM[UAE] - UAE

This is another example to prove that the law of jungle prevails so far as the property market of Dubai is concerned. One is not sure whether RERA rules cover this aspect of the property transactions. Even if RERA rules cover, if you go to RERA as an aggrieved party, it says that if this has been agreed between you (seller) and the agent, then they can't do anything.

What happened during 2007 and 2008 was madness. However, in the past three years or so, the regulators do not seem to have learnt any hard lessons which they should have. There has not been any law worth mentioning that was passed which ensured fairness among all transacting parites viz., the buyers, sellers, agents, Govt. agencies. Unless this is done, Dubai and for that matter any market, will not see sustained and healthy growth.

Posted by: Jack Wednesday, 30 November 2011 8:05 PM[UAE] - UAE

I really can't see the problem here. The market should be allowed to operate on a relatively 'free market' basis when it comes to commissions/fees, there is no need for price-fixing by RERA as some have suggested. If a client doesn't like the commission fee or the service provided then use another agent, it's very simple really (there's plenty of competition out there, so it's far from a monopoly!)
Amazingly, there are honest and dishonest people from each of the following categories: landlords, tenants, sellers, buyers, agents and even website commenter's. It's unfair to tar every agent with the same brush.

Posted by: james t Wednesday, 30 November 2011 6:18 PM[UAE] - uk

AED38000 per month....for not doing anything!! and you can double that once you take into account the sell side commission kicking in.