Thinking about starting a career in UAE real estate? Or are you a new agent or an industry rookie?
One thing we see over and over at Bayut are new agents who were sold a dodgy description about the reality of real estate. We’re here to share some truths we’ve learned about being a part of this industry.
Big Deals Rarely Happen Within the First 6 months
There are stories of new agents who closed an AED 80 million villa within the first few months. This is the exception and not the rule. While we hope you land a big deal right away, make sure you have realistic expectations and 6 months of living expenses to get through the initial half-year.
You Will Never See 100% Commission
Your commission split will be between 50-70% depending on your company, experience, etc. Companies that offer 97% commission will make up for the difference by charging you directly for marketing, desk space, etc.
Most Realtors Do Not Make Big Bucks
Agents make what they honestly put in. Those who block their time, prospect and network daily for achieving their goals tend to be successful.
Agents who pick up their phones and build relationships are successful. Agents who ask “is this cash or mortgage” before knowing a clients’ name or what the client really needs, are not going to make the big bucks.
Training At The Agency Level Is Rare
You may be told about fabulous training opportunities. In our experience, it is very rare to find agencies with full training departments.
Most agencies will train you on the paperwork, the CRM and assorted tech and that’s all. Fret not, Bayut Academy offers a full range of trainings for all agents who subscribe with Bayut.
You Are Responsible For Building Your Business
Bayut provides leads galore. However, it is your job to convert leads.
The best way of converting leads is to build a relationship with your clients – to really get to know them and to understand what exactly they are looking for. Maintain those relationships and leverage the highly sought-after referrals. Check out our guide on how you can roll in more referrals!
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Real Estate is Not Like Reality Shows
What happens in reality TV land stays in TV land. Real estate is hard work and you will be showing clients property after property. You likely will not be driving a Bentley anytime soon, but we are rooting for you!
You Are Responsible for Your Leads
Bayut provides a lot of eyeballs for your property listings. But it is up to you, to create ads that make leads want to convert. This is a simple process:
- Create a quality listing with a quality description
- Check your property to hold up a virtual hand that says “yep, this property is real and I have the required documentation that says so”
- TruCheck™ your property to highlight that it is really available. Serious clients look for the TruCheck™ badge, so take advantage of this free secret weapon
- TruCheck™ + Signature boosts your listing to the top of the search results. Learn how you can get the TruCheck™ badge with our in-depth guide!
Real Estate is Competitive
…especially in Dubai.
What does this mean? There are a lot of agents working to get the same leads (clients) as you.
The best way to prevent this is to build relationships with your clients, offer impeccable professionalism and provide great service at every step.
Join us at Bayut Academy for a session on Customer Service To Win The Real Estate Game.
Real Estate Is Hard Work
No, it is not easy to make AED 200k with one sale or even in one year.
Real estate is hard work and requires discipline. You are the CEO of your own success and the agents who make it big prospect, manage their time, work long hours, have incredible patience, never stop learning and are always on the go.
These agents found success by spending time on the front end of their business and approaching real estate with an entrepreneur’s mentality. You will need a wide range of skills such as selling, prospecting, overcoming objections, managing expectations, customer service, negotiation and more.
Discover these skills and more by attending our interactive workshops at Bayut Academy, where we take you through all the tools you need to excel in the real estate industry. You can also explore our Content Corner on the Agent Portal, where we share more secrets and tips to level up.