Investing in the Dubai Real Estate Market requires immense potential, but the success lies in one vital partnership: the real estate company in Dubai that you select. Well, Dubai real estate is not just about finding the best Dubai properties; it’s about securing expertise, trust, and a seamless path to high capital appreciation and returns.
In this blog, you’ll find an ultimate checklist to hire the best real estate firm in Dubai that will turn your dream of investing in the best off plan projects in Dubai into a breathtaking yet profitable reality. However, before going through the checklist, it’s essential to understand why Dubai has become a magnet for global investors and high-net-worth individuals.
Well, the city has cemented itself as a global investment destination, attracting investors and rewarding them with an irresistible combination of financial advantages and high growth potential. The zero-tax advantage, highest rental yields, attractive capital appreciation, and investor-friendly policies, to mention a few, are key factors that capture everyone’s attention.
Selecting the best real estate company in Dubai is a crucial investment decision. So, before selecting the best agents in Dubai, use this ultimate checklist to turn your Dubai property dreams into reality.
1. The Legal and Transparency Check (The RERA Advantage)
When investing in the best off plan projects in Dubai, RERA is the security blanket. RERA stands for the Real Estate Regulatory Authority and enforces fair practices in Dubai Real Estate. Hence, confirming their compliance should be on your priority list.
a. RERA Registration
Action: In this particular step, you need to ask Brokerage License Number and the RERA ID card of the company.
Why does it matter?
Now, coming next to why it matters. With this checklist, you can validate both the agency and the agent on the DLD website (Dubai Land Department) or the Dubai REST app. Before selecting the best real estate company in Dubai, it’s important to perform this task. The real estate companies in Dubai that are not registered or do not have a license pose a serious threat to your hard-earned money.
b. Knowledge about the ESCROW Account
Action: To invest in the best off plan projects in Dubai, always ask the real estate agent to provide you with the knowledge about the ESCROW account.
Why does it matter?
An escrow account is a keepsafe account in which funds are deposited by one party and disbursed to the other party, only if you meet certain conditions. Having this account by your side ensures that the money will only be released upon achievement of construction milestones.
c. Compliance with Advertising
Action: Before moving ahead to finalizing the best real estate agent, it’s important to check their property listings for a quick mandate Trakheesi Permit Number
Why does it matter?
The Trakheesi Permit Number is a unique number indicating that the real estate agent and the real estate company in Dubai have the RERA’s permission to advertise a specific property. This practice further eliminates any property listings that are fake and outdated.
d. Transparent Approach when it comes to fees
Action: Before hiring the best real estate agents in Dubai and signing any property agreement, it’s pertinent to request a written and detailed breakdown of all the fees, commissions, and hidden costs (if any).
Why does it matter?
Trust is the frontrunner when it comes to real estate transactions because it reflects emotional and financial commitments. The best real estate companies in Dubai always maintain transparency, reassuring investors and homeowners that they are making a safe investment in the Dubai real estate that will reward them with a higher ROI and capital appreciation.
2. The Expertise and Experience in the Dubai Real Estate Market
Dubai’s real estate market is highly segregated. A real estate company that is master in selling exotic and luxurious villas in Dubai might not excel in selling apartments with high ROI in the most sought-after areas.
Below are certain questions that you need to ask the company before making the final decision of hiring them for a smooth real estate process.
- Focus on the Niche
Does the company specialize in the area or the property type that you are targeting? So, before making a smart investment move, assess whether the agent has knowledge about the area you are targeting, as it will smooth the entire process.
2. Off-plan Expertise
If you are interested in the best off plan projects in Dubai, you must assess whether the agents have deep knowledge of their completion dates, amenities, developer’s reputation, and flexible payment plans.
3. Client Testimonials and Track Record
Before finalizing the best real estate agency, it’s important to ask for validated data and information, and not just false claims. You can ask them for their past closed deals in the community you are targeting. This step will help you measure the company’s success, rather than just relying on the company’s history.
4. Multilingual support
As a foreign investor, make sure that the real estate agent is fluent in your comfortable language or can provide reliable support in the same. Clear communication further eliminates any kind of misunderstanding and makes the entire process seamless.
3. The Investor Check for Profit Potential
A real estate Company that is investor-focused thinks about the return on investment, and not just the volume of sales. Their advice should revolve around high rental yields, capital appreciation, and amenities.
Before hiring one, there are certain things that you need to ask as an investor:
- What is the average rental income for this property type in this area over the past 12 months?
- If I decide to sell this property in the coming two years, what factors will drive the property price, and what would be the DLD fees and brokerage costs?
- Are there any major off-plan projects in Dubai planned near this community that could affect my property value in the upcoming years?
A good real estate company in Dubai will help you know the average rental yield based on real transactions, and not just hypothetical facts. He will also help you calculate the ROI and the ownership plans. Also, a real agent knows the best off plan projects in Dubai, major master communities by the top developers, and the upcoming avenues for leisure and entertainment.
Hence, it’s always advisable to go with the one who has proficient knowledge about the real estate market and has the potential to align their strategy with your long-term financial goals.
Final Words
Finding the best real estate company in Dubai is a tiring yet exciting process, as the right one will help you achieve your dream of owning a home in Dubai.
You can shortlist 3 different real estate companies in Dubai. Get in touch with them, ask questions, and solve your queries. However, always ensure that they are RERA certified and then schedule a consultation. The best agents won’t pressurize you! Rather, they will guide you, tell you the pros and cons of investing in the best off plan projects in Dubai, and sync their strategy with your long-term financial goals.
So, what are you waiting for?
Explore the best off-plan properties in Dubai and invest smartly!
FAQs
1. What if the off-plan project I invested in gets cancelled?
All your money is safe. All the funds for off-plan property are legally held in RERA’s ESCROW Account, thereby protecting the interests of the buyers.
2. How can I instantly verify the property’s legitimacy?
You can ask for the Trakheesi Permit number on the advertisement. If you don’t find this number, the property listing is likely to be fake or invalid.
3. Off-plan properties v/s ready properties: Which is better?
If you are looking for high capital appreciation and flexible payment plans, you can go ahead with an off-plan property.
On the other hand, if you are looking for immediate cash flow and immediate occupancy, you can choose ready properties.
4. What is the fee for property management in Dubai?
The property management fee structure in Dubai is typically between 5 to 10% of annual rental income.
5. What is the minimum property investment for the UAE Golden Visa?
The minimum property investment to be eligible for the 10-year Golden Visa is AED 2 million.
