What Dubai Real Estate Brokers need to Learn, and what Courses must they take?
Do not proceed further if you haven’t done your studies because from here, you will be talking to owners and clients and must be ready to answer questions and provide accurate information. You will get all kinds of questions; there is no shame in not knowing the answer to everything, especially considering you are a new starter. Be open and honest about you being new, and when you don’t have the answers, say you don’t know, but you will find out for them.
Your job is to find out as fast as possible, be resourceful. By now, you must have your area selection finalized, study all about it, and everything related to property types and transaction processes. You can use below questions to practice and test your knowledge.
What people usually ask a Broker?
Sellers\Landlords may ask:
- What are the current selling/rent rates in the area?
- How much can I sell/rent my property for?
- How fast can you sell/rent it for me?
- Why should I list with you?
- Can I rent on a short-term basis?
- Can I charge a higher security deposit?
- Can rent only for fixed-term and have a non-renewable contract?
Investors may ask:
- Is it a good time to buy now?
- Which area is good for investment, why?
- What type of property is good for investment, commercial/residential/retail/etc.
- Which is better Off-plan or Resell property?
- How much ROI can I expect? Net, Gross.
- What yearly expenses are there?
- What cooling system is the building has?
- What are the cooling rates?
- What cooling types are there, and what cost lower?
- What are the service charge rates?
- What are the buying costs?
- What is the buying process?
- How long does the transfer take?
- How can I transfer money from abroad?
- Who can open a bank account?
- Can I get a residence visa on my property?
End Users might may ask:
- Which areas/projects/buildings are good for families/ bachelors/value for money?
- What schools are nearby, what curriculum.
- What malls, attractions, businesses are nearby?
- What is the Buying process/documents/fees, and duration?
- What are the mortgage rates? fixed rates/reducing rates etc.
Tenants may ask:
- How much is the monthly average Cooling costs?
- Approx. DEWA costs
- Who handles the maintenance?
- What are the rental laws, termination/renewal/expiration, etc.?
- What is the security deposit refund process?
Other frequently asked questions:
- What kind of taxes/fees does the property owner needs to pay?
- Could you describe the sales and purchase process?
- Are foreigners permitted to have 100% ownership of property in Dubai?
- What is freehold and leasehold ownership?
- What happens when the leasehold term ends?
- What are the inheritance laws in the UAE?
Learn as much as you can from your colleagues and the training materials provided by your company. You can also ask questions on the Zaroof.com Home page.
RERA Training course for Brokers
Dubai brokers must attend mandatory training by Dubai Real Estate Institute (DREI) in order to receive their Broker’s license/e-card from The Real Estate Regulatory Agency (RERA), the regulatory authority of Dubai Land Department (DLD). Register for the training as soonest, if your company is providing you with a Broker’s License, ask them to do so at the earliest.
Training duration is 20 hours, divided to 4 days – 5 hours a day.
During the training you will learn 9 modules and they are:
- 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
- Jointly owned property ownership and the Mollak system.
- Laws and regulations of the Dubai Real Estate Market.
- Essential Skills for Brokers
Upon completion of the course, you need to pass an exam with at least an 85% score after which you will receive your Certificate of completion and can apply for a Broker’s License/e-card.
For additional learning and to prepare for the exam, take advantage of free training materials provided here on Zaroof. Pages you may find helpful are RERA Exam Test Questions, and all the other pages in Trainings Menu.
If you can’t find what you are looking for you can ask your questions here on Zaroof, and we will have the experts to help you with the answers.
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.