Dubai Real Estate Brokers guide to Choosing an Area.
Area selection is an important step, your success and income levels depend on it! If you want to speed up your professional growth and goals, stick to one area, and master it.
Not specializing in an area is a common mistake that most new Brokers make. Trying to work with any property that comes on their way, they run all over the city, which can be exhausting and so much less productive compared to area specialized Brokers. So start wise, choose an area, and accelerate your growth.
Things to consider when choosing an area:
Pay attention to property prices, demand/transactions per month, and the competition:
Set a monthly income goal and analyze the area’s average prices to determine the number of properties you have to sell or rent to reach your goal. Ideally, you should be able to achieve it by selling 1 or 2 properties or renting up to 5 properties.
Also, analyze the demand by comparing the number of live listings against monthly transactions, this will help you understand, how often Brokers are closing deals in the area.
You might want to consider the distance from your office and home:
Distance should not be an obstacle. However, before finalizing, make sure to visit repeatedly and make sure you are comfortable with distance as well. Do your research online and offline, and choose well, don’t leave any room for excuses to jump to another area later.
What do you need to learn about your area?
– You need to learn and know everything about the area and the places nearby it. Clients will all kinds of questions, especially if they are new in town. Study it well and keep in mind; in order to sell something, you need to know it by heart and describe it with passion.
– Scan all the businesses, attractions, malls, nurseries, and schools in detail, all this knowledge will play a key role in your sales presentations later.
– Study all the buildings within the area. Talk to building securities and find out full information about the building and its facilities and advantages.
– Most of the information is available online, still, double-check, talk to other agents and developers, ask questions, get curious.
– If you were the client, what else would you want to know about an area and building or villa in order to make a purchase decision?
– Your job title is also – An Area Specialist / Expert, so make sure to master it. The main details you must know by heart are:
- Selling Prices average per sq. ft.
- Yearly Rental rates average
- Advantages and Disadvantages
- The developer of the buildings and the Master Developer of the Area
- Year build, launched, etc.
- Yearly Service Charge cost per sq. ft.
- Cooling type and Cooling Cost. to list a few.
We are here to help you with every step of the process, so continue reading. You will find some answers in other New Brokers Training lessons. If you can’t find the answer you are looking for, Ask HERE.