Dubai, a city with striking features in and out, is quite popular for its hi-tech skyscrapers and vivacious nightlife. These salient reasons draw the real estate agents to step into Dubai and get into the business of property dealing. The massive invasion of foreign businesses and industries has elevated the Dubai real estate market. This has provoked individuals and entrepreneurs to become real estate agents in Dubai. Are you eager to know how to become real estate agent in Dubai? This blog will give you a detailed description of earning a fair share of profit as well as goodwill by becoming a certified and licensed real estate broker.
Real estate agent in Dubai
Becoming a real estate agent is a good career choice if you have excellent communication skills and sales aptitude. A good conversationalist who can easily learn people’s wants can earn a good income as a real estate agent in Dubai. Moreover, your negotiation flair and the rush to close a deal successfully can get you to earn a good commission over your basic income.
However, becoming a regarded property dealer is challenging in Dubai. With the competitive market, you have to put in all the hard work and engage regularly with the customers to convince them of the deal.
Advantages of becoming a real estate agent in Dubai
- Meet multicultural clients
Dubai is a city with a diversified population. Setting up a real estate brokerage company is a benefit in all ways. As a property dealer, you get the opportunity to engage with clients from different cultures and professions and create a network. This will help you build a healthy professional relationship with clients for your future endeavors as well.
- Good profits
The real estate business is a booming industry in Dubai. Properties are the most high-priced commodities here. Selling a pricy commodity at a negotiable rate can get you to make good profits.
- Outstanding architecture and engineering
Dubai has the most vibrant properties which are a marvel in architecture and engineering. Foreign investors who plan to setup company in Dubai call for such buildings as their workplace. A property agent with an advanced skill set can earn high regard and proceeds by brokering one of these marvel structures.
Many brokerage firms hire property dealers on a contract who earn through a commission-only basis, while many other firms offer basic-pay-plus-commission. However, in both cases, the majority of the agent’s earnings are from the commission he earns from vending out properties.
To get a better and more cost-effective lookout on the real estate business, collaborate with the business experts at Shuraa and get all the basic information and assistance.
How to become real estate agent in Dubai
It takes years to become a successful dealer and build a strong portfolio of potential clients. However, the basic process to become a real estate agent starts with training modules prearranged by Dubai Real Estate Institute(DREI). Once you successfully pass the exam, you are eligible to acquire a real estate license and start your real estate business in Dubai.
Let’s get into the process of becoming a real estate broker in Dubai.
- Work with a trusted real estate firm
To kickstart your career in the real estate business, pick the right firm that aligns with your values. A firm that combines technology, coordination, and personalized service to empower people with the right data and knowledge about properties can help you gain good experience in the business and make you understand your niche as well. This experience can also become a good highlight in your resume for your career.
- Apply for DREI training
Sign up for the training course with the DREI to get the necessary insight into the real estate industry of the city. This four-day course is a Certified Training for Real Estate Brokers approved by the Real Estate Regulatory Agency (RERA). RERA is the governing arm of the Dubai Land Department (DLD).
The training modules cover the following areas of real estate training:
- History and Development
- The business of a broker
- Concepts, definitions, and market players
- Sales processes and agreements
- Leasing process and Rental agreements
- Code of ethics
- Introduction to Owner’s Association
- Legal module
- Essential skills
The classes can be taken both online as well as offline, whichever is preferable to you. To sign up for the course, you need to submit your Emirates ID and a copy of your residency visa at the registration center.
- Clear the RERA exam
At the end of the course, you need to take the written RERA registration exam. Once you clear it, you are eligible to apply for a real estate license in Dubai and legalize your business.
- Get the realtor license
Clear the RERA exam and get on your way to getting a valid license to work as a real estate agent in Dubai. In addition to the RERA certification, you also need to submit a certificate of good conduct to complete the licensing process. The Economic Department issues the realtor license and the broker ID card within one or two days.
- Learn the real estate laws
To pursue a successful career in real estate, you should be familiar with the real estate laws. Every industry has its laws. Similarly, the real estate laws cover the rental contract, buying and selling laws which include the structured sale and purchase of properties, optimum utilization of land, construction policies, and landlord-tenant guidelines.
Other significant traits of a successful real estate agent include:
- Increase your network and stay connected
- Build your brand
- Become an expert in your area
- Price right
Process of Realtor license renewal
The realtor license needs to be renewed yearly, a month before the due date. If the agent fails to do so, he might have to face penalties by the issuing authority.
To renew the license, the agent has to clear the RERA exam again and score the least of 85%. Thenceforth, the renewal process can be completed online after duly submitting certain documents and paying the requested fee.
- Copy of passport
- Copy of residence visa
- Personal photograph
- Certificate of RERA qualification
Failing to renew the license before the due date might lead to the cancellation of the license and start with the application process from the beginning.
Choosing a real estate industry as your career in Dubai can be a tough call, but it is certainly a rewarding choice with several upcoming gains and financial profits that this path can offer you.
Now that you have learned about the benefits and process of becoming a real estate agent in Dubai, get ready to pave your way into the Arab land. If you still have any confusion on how to become real estate agent in Dubai or regarding any other business, you can get in touch with our business consultants. At Shuraa business setup, we offer you a convenient company set up in Dubai with all the documentation and paperwork done from our end. We will also help you with all the company formation consultations and guide you through every step of your entrepreneurial journey.
To book a free consultation with us, call us at +97144081900. You can also reach out to us on WhatsApp by dropping a message on +971507775554. For email assistance, mail your query at firstname.lastname@example.org.