The UAE real estate market is experiencing unprecedented growth. In the last days of December, we summed up the results of the previous year on our Telegram channel and concluded that the Dubai real estate market in 2024 demonstrated impressive development dynamics, setting new records and reaching historical figures. The city not only strengthened its position on the international stage, rising to first place in world reputation rankings, but also attracted an unprecedented number of new residents: an increase of 20% from European countries and 15% from the CIS countries.
The scale of the changes taking place is evidenced by significant events: a record sale of a penthouse in the Bulgari Lighthouse for $112 million, an increase in rental rates by 18% with an increase in the number of transactions by 4%, and the launch of ambitious infrastructure projects, including a 65-kilometer suspended transport system. And, of course, the transformation of buyers’ motivation is noteworthy: if earlier Dubai was considered mainly a place for investment, more and more people now choose it for permanent residence.
Under conditions of such dynamic market development and growth in the number of participants, the question naturally arises: How can a truly professional real estate agent be chosen in this diversity?
Why is an independent search for real estate in the UAE a risky undertaking
Unlike many other countries, in the UAE it is almost impossible to carry out a transaction without the participation of a licensed realtor. This is not a direction where you should learn from your mistakes. An illustrative example occurred in 2022 in Dubai: a group of investors directly tried to purchase apartments in the prestigious Downtown area, bypassing agents. As a result, they not only lost access to pre-sale prices (which were 15-20% below market prices), but also faced many bureaucratic obstacles when processing documents.
Another case: in 2023, a buyer from Russia decided to save on the services of a realtor when buying a villa on Palm Jumeirah. He found the property through social networks and negotiated a deal directly with the seller. It turned out that the property was encumbered, and the seller hid information about a large debt for utility bills. Clearly, this is not the best surprise you can get when moving in.
Read also: Features of renting a villa in Abu Dhabi.
The UAE real estate market is experiencing a real boom. High rates inevitably attract many new players to the sector, among whom there are insufficiently qualified specialists. It is critical for buyers and investors not to try to play this game alone and to learn to distinguish professionals from random people in the profession.
Checking the reliability of a real estate expert in Dubai
A miser pays twice. A reasonably well-known phrase that is applicable in various areas. In real estate, including. Often, clients unknowingly turn to dubious companies, and then overpay a lot of money to save the situation and restore documents, change rental conditions, resell housing or correct any errors. Professional property management requires not only extensive knowledge from specialists, but also an impeccable reputation, which the 20-88 Real Estate team is rightfully proud of, having a complete package of RERA and DREI certificates, and also recognized as one of the market leaders in terms of the number of successful transactions in the premium segment. How can you ensure you are dealing with a qualified specialist? The first step in checking a realtor is to verify their license through the Dubai Land Department (DLD) system. Every legal real estate agent must have a valid Broker Registration Number (BRN), which can be checked in the open DLD database. This unique number confirms that the specialist is not an impostor, but a certified expert. To qualify for legal employment, a candidate must have a UAE residency visa and undergo rigorous training at the Dubai Institute of Real Estate, successfully passing the exam with a score of at least 85 points out of 100. The cost of training is AED 3,000, and the exam will cost AED 3,200 or AED 6,300, depending on the candidate’s level of education. Professional qualifications and standards for a future expert include the following parameters:
- A valid UAE resident visa
- Official employment in a registered real estate agency
- A valid RERA brokerage license
- A certificate of completion of specialized DREI courses
- Membership in professional associations of realtors (if necessary)
Realtor reliability assessment criteria:
- History of confirmed cases and successful transactions in the selected market segment
- Specialization by types of real estate and areas of the emirate
- Knowledge of legislation and procedures for registration of transactions, as well as an understanding that the document must spell out all the essential terms of cooperation: characteristics of the sought-after property, budget, terms, amount of commission and terms of its payment
- Possession of up-to-date information on market prices, popular developers
- Quality of presentation of properties and marketing materials
- Transparency of commissions and additional services
Reviews of previous clients on specialized platforms, social networks
Particular attention should be paid to studying customer reviews on specialized real estate portals and social networks. The reputation of a realtor in the professional community is also of great importance – recommendations of colleagues and partners can provide additional reliability guarantees.
Modern premium concierge service in Dubai, provided by leading agencies, includes assistance in selecting properties and comprehensive support for the client at all stages of the transaction, from legal due diligence to receiving the keys. A professional realtor must demonstrate a deep understanding of the client’s needs and offer individual solutions.
The realtor’s ability to provide up-to-date market analytics, detailed marketing research and transparent financial calculations is an additional indicator of professionalism. A qualified specialist is always ready to confirm their expertise with recommendations from previous clients and specific examples of successful transactions. For example, buying real estate in a unique place, where almost all square meters were sold out. Or examples of how a client managed to earn 90% of the cost of housing in 10 months.
Regular license renewal and constant professional development are also important indicators of a professional approach, a sincere desire of a broker to develop in a given direction. Serious real estate agencies regularly fight for the palm in a given direction, and brokers invest in their development, participate in professional conferences and maintain up-to-date knowledge of the Dubai real estate market. For example, at the beginning of 2024, several large agencies launched special certification programs for brokers working with luxury real estate worth more than 10 million dirhams.
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Additionally, when checking a realtor, you should focus on the quality of his communication with clients. Soft power also plays a role. Prompt responses, clear information provided, and a willingness to explain all aspects of the transaction in detail indicate a high level of professionalism. It is also recommended that the agent operates in accordance with the ethical standards of the profession and strictly observes the confidentiality of client information.
Cost and conditions of real estate services
As for the financial side of working with a realtor, commissions in the UAE are pretty competitive compared to other developed markets. When buying real estate, the standard commission is 2% of the property’s value. For comparison:
- in the UK this figure varies from 0.5% to 3.5%,
- in Spain and Italy – from 3% to 5%,
- and in Cyprus it can reach 8%.
When renting residential property in Dubai, the agent’s fee is 5% of the annual rent and is paid by the tenant. The commission fee is higher for commercial real estate – from 5% to 10% of the annual rent. Please note that any sale of real estate or lease of commercial premises is subject to an additional VAT of 5% of the property value or annual rent. Property owners (landlords) can also pay agents from 0% to 8% depending on the scope of property management services – from basic listings to full support, including finding tenants, organizing viewings and monitoring the property’s condition.
Conclusion and final thoughts
Working with real estate in the UAE is a delicate balance between opportunities and risks. Behind every successful transaction is meticulous work with documentation, knowledge of current prices and an understanding of the area’s long-term prospects. An interesting fact is that in recent years, more than 40% of new properties in premium locations have been sold before the official start of sales – and this demonstrates the value of working with an experienced broker. 20-88 Real Estate, with a team of 50+ specialists and a sales figure of over 500 million for 2024, offers access not only to the database of properties, but also to proven mechanisms for structuring transactions, including assistance in obtaining a mortgage loan. Hundreds of successful cases are behind 20+ awards from leading developers: from classic transactions to multi-stage investment projects.
By contacting me, Konstantin Lyutovich, and our team, you will receive a transparent purchase process with a clear understanding of each stage — from selecting a property to handing over the keys. In the UAE, a professional broker is not an intermediary but a partner who helps make informed decisions in the dynamic real estate market. Was this article interesting and useful? Want to learn more about the real estate market in the UAE? Subscribe to the website of real estate expert Konstantin Lyutovich and get notifications about new publications.
