We are delighted to bring you insights from one of the leading real estate agencies in Dubai about the importance of authentication in the success of a property brokerage. We spoke to John Lyons, the super-successful Managing Director of Espace Real Estate about his agency’s experience with Bayut’s exclusive TruCheck™ offering and the rewards they have reaped from validating their listings.
The benefits of validating property listings with TruCheck™
John elaborated that the primary benefit of validating their property listings with TruCheck™ has been the marked increase in the number of leads generated. TruCheck™ has proven to bring in five times the leads and 20 times the number of impressions compared to unauthenticated listings. He also shared that most of the leads that are received on property listings validated with TruCheck™ have come from serious buyers who have done their due diligence.
John also highlighted his agency’s firm belief in showcasing their genuine listings, which he has been able to do with the help of TruCheck™. Since every realtor from Espace Real Estate ensures that all the necessary documentation is in place when working with a property, getting the Checked and TruCheck™ badge has been quite easy.
According to John, the TruCheck™ badge reflects the values of the agency, which places an emphasis on being detail-oriented and providing the highest level of customer service to their customers. They have also closed more deals after taking the initiative to validate their property listings with TruCheck™.
How can a realtor acquire the TruCheck™ badge on their property listing?
Before validating property listings with TruCheck™, they need to be ‘Checked’ first. ‘Checked’ refers to the listings that have their documents validated. To do this, the real estate agent must submit the relevant documentation, including the title deed, passport copy and Emirates ID. After Bayut’s Quality Assurance team has verified these, the listing will receive the Checked badge.
John elaborated that since Espace Real Estate exclusively works with genuine property, they always have all the documentation at hand, making this process a breeze.
To validate the Checked listing with the TruCheck™ badge, the agent must physically visit the property and take a picture of the unit using the BayutPro app. Bayut’s QA team will verify the image, after which the property listing will be validated by TruCheck™.
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Views on the Current Real Estate Market in the UAE
John also shared his belief that the UAE real estate market is currently buoyant due to a number of factors, including low interest rates, an increase in liquidity, and a low loan to value ratio. Owing to the various stimulus measures taken by governments across the world to stimulate the economy, there has been a huge improvement in the market for the past 12 months. This has also been reflected on our Dubai H1 Sales Market Report for Dubai, which has shown an increase in property prices, especially in the luxury segment.
He bought up the fact that a lot of the resources that would be allocated to industries such as hospitality are being invested into real estate, which has played a role in the improvement of the market.
About John Lyons
John Lyons is the Managing Director of Espace Real Estate. His vast experience in UAE real estate and strong leadership has enabled him to lead his agency to great success in the country.
About Espace Real Estate
Established in 2009, Espace Real Estate is a bespoke real estate agency based in Dubai. They offer their clients a host of services related to both buying and leasing of property in the city, along with providing knowledge and resources that can help them make informed decisions.
We hope that these insights from John have helped you to understand the needs of your customers better. If you’re thinking of ways your agency can make it to the top of the TruCheck™ Leaderboard, check out our detailed guide on how to get the Checked and TruCheck™ badge on your listings.
Take a look at the TruCheck™ Leaderboard on our Agent Portal, to find out which agencies have made it to the top!