Real estate service providers in Dubai are currently on an overdrive for hiring talent and induction of new-age tech tools amidst expectations of a further bump up in market growth in 2024 – both in the off-plan and secondary market, industry insiders told Arabian Business.
The recruitment spree is also to meet and aid the expected surge in sales this year in other emerging hotspots in the UAE such as Abu Dhabi and Ras Al Khaimah.
Industry players are learnt to be exploring several overseas sourcing markets for hiring the best available talents globally amidst the rising competition among service providers to woo property buyers, especially the first time ones.
“Two of the biggest things we are focused on right now are hiring talent, and giving them cutting-edge technology to succeed,” Alois Kugendran, General Manager – Real Estate at Huspy, a Dubai-headquartered leading real estate consultancy and mortgage firm, told Arabian Business.
“We are hiring aggressively to bring the best talent from around the world to the UAE. Because of the phenomenal growth that we’ve had [last year], we need to hire faster to meet the demand we are seeing [now],” he said.
Kugendran said the firm’s real estate team has grown to 100 real estate agents in 2023, and the number is expected to see a quantum jump this year.
“In particular, we are seeking agents who have experience in the luxury industry,” he revealed, reflecting the surging demand for high-end and branded residential properties, especially in Dubai and Ras Al Khaimah.
Senior executives at other leading city-based real estate service firms also confirmed the rush for talent hiring and technology induction to meet the expected surge in market growth in 2024.
“The real estate sector in Dubai – as also in the UAE – is highly competitive with numerous players vying for market share, and having the best talent and tech tools are the two ‘must’ factors for being at the forefront [of this market],” Samer Chehab, Founder and CEO, PropertyGuru.ae, a city-based proptech focused exclusively on the off-plan property sector, working with leading developers ranging from Shobha and Arada to Damac and Azizi, told Arabian Business.
“The challenge is to be able to cater to the extensive demand from developers as they compete on attracting the same buyers locally and internationally,” he added, explaining the rising demand for top talent and technology.
Top consultants earn up to 80% commissions in Dubai
Industry insiders said talent hiring is getting more and more difficult for firms because of the surge in demand, besides the high expectations of experienced and in-demand consultants.
Kugendran said top consultants have the opportunity to earn up to 80 percent commissions in Dubai.
“Together with the incredible quality of life in Dubai, at Huspy we hope to attract some of the top industry talent,” he said.
Chehab said firms such as PropertyGuru.ae’s success will hinge on their ability to navigate the numerous and rising challenges in the market, while continuing to provide value to its users and partners, and ‘having the right kind of team’ in place is very important.
“Because customers spend millions of dollars and dirhams, proptech players like ours need to ensure transparency, accuracy of the properties listed, and operate as a premium and high-quality leads supplier,” he said.
Rising tech play in Dubai’s real estate sector
Sector experts said real estate service providers in Dubai and other markets in the country are increasingly realising the need to empower the industry with more technology, with the changing market dynamics and investor requirements and expectations.
This is leading to firms rolling out new apps to attract new investors and simplifying the property buying and related processes.
“Our real estate app – Huspy For Agents – recently launched in Spain and will be shortly rolled out to the UAE, allows agents to quickly onboard new clients,” Kugendran said.
He said the app acts as a comprehensive solution provider for the day-to-day activities of agents, such as scheduling appointments and sharing properties, including an AI-powered suggestion tool that ensures the right properties are matched to the buyer based on their criteria.
“The app also allows for virtual touring of properties and enables transactions to be closed using our technology,” the Huspy senior executive said.
Industry insiders said with the advanced tech solutions, service providers are not just digitizing the entire home-buying industry, but are also equipping every stakeholder with the specific tools they need to transform the customer journey.
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