Things To Avoid While Selling Your Property in Dubai

What if you choose the wrong agent and face loss on your property gains? It is a common mistake that the seller makes. However, the mistakes are not fatal. Making mistakes is always okay, but repeating the same mistake in selling your property should not. There are numerous mistakes to avoid for selling property in Dubai. All you need is a little guidance and assistance, and you are all set to rock your property’s sale. Wondering what mistakes you would have made or might make while selling your property? No worries. In this article, let’s take you through the common mistakes to avoid when selling property in Dubai.

Mistakes To Avoid When Selling Dubai Property

Mistakes can be avoided with property knowledge and guidance. Despite that, it is important to understand what can be a mistake that you might commit as a seller. There are many mistakes to avoid selling Dubai property as mentioned below: 

• Being Emotional

When it comes to selling a property, most people become emotional. Especially if it’s their first home. When people buy a property after years of hard work, they tend to get emotional. But this is one of the foremost mistakes to avoid when selling property in Dubai. Wondering it is not possible to overcome this? It is possible. Whenever you wish to sell your property in Dubai, get into the shoes of a businessman and a salesperson. Just forget that you are the owner of the property altogether. Seeing the financial benefits after selling your property from a new perspective, you will start creating distance from your emotional baggage. As a seller, you can also look from your own perspective. The emotions that you felt when you first bought your place can be the emotions of the buyer who is going to buy your property. Selling your property comes with emotional baggage and a lifestyle for your buyer. Keeping this in mind can help you in remodelling and selling your property with some extra dollars. 

• Wrong Location Of The Property

The location of your property is a fundamental aspect of selling it. The buyer will always look for a property in an ideal location. The placement of your property will decide its value. One of the mistakes to avoid for selling property in Dubai, make sure that your location has all the basic amenities. The buyer will always choose the property in a location that offers top-notch facilities with destination points for purchase. Sightseeing and attraction places, such as parks, swimming pools, malls, cinemas, etc. can attract a lot of potential buyers for your property. You should always avoid investing in remote locations as it might not bring back great returns when selling the property. With less development comes a lesser chance of getting your property sold. There are numerous mistakes to avoid when selling property in Dubai, but the remote location is a crucial factor to avoid. 

• Overpricing Your Property

A high price of the property valued multiple folds above the market price is a common mistake. An overpriced property will attract a few to zero buyers. You should take the help of a broker who would conduct an analysis of your area for the appraisal of the property. Review the feedback and ask them to guide you through the market strategies for selling your property. The buyers always notice the fluctuation in price. As a seller, if you advertise the property at a high value but bring it down with a poor response, then the buyer will conclude that you are desperate to sell it. Always remember, overpricing is not the solution to selling your property. This becomes one of the major mistakes of being a wall between buyers and sellers. Keep a space for negotiation. This will make the buyers feel good about buying a property. 

• Working With Multiple Real Estate Brokers

Registering with multiple real estate brokers will not sell your property. This is another common mistake to avoid selling property in Dubai. As a result of multiple listings, the information with every broker will differ from each other. Most often, this information is incorrect with a lack of communication between the seller and agent. Sometimes the price of a property that you asked for is also different for each listing, creating a mess for your selling path. But working with one or two brokers will ensure that your listing is correct. It will also avoid the multitude of advertisements for your property. This will also help you in avoiding the confusion of varying prices when you face it while working with several brokers. 

• Not Choosing The Right Assistance

Choosing the right broker is a tough task. Commonly, the buyers pick the wrong assistance and fail to sell their property. If you have opted for the wrong assistance, they might not work in your best interests. The wrong broker will just want to sell your property without understanding what and how you need to sell it. They will also not work in the interest of the buyers. In order to find the right agent, don’t rush. Conduct your research and compare the realtors before settling with one. Look for information, such as their selling rate, registration with the real estate authorities, and more. This will work as a method for the mistakes to avoid when selling property in Dubai.  

• Property Not In Sellable Condition

Ready-to-move-in properties are in demand. Most buyers prefer such homes where they can move immediately. A well-maintained property is the need of the hour. If your property is incomplete, not maintained well or requires some repairing, go for it. It is because the maintenance of your property will explain the purchasing thoughts of the buyer. You can also opt for professional service providers who can maintain your property well. A well-maintained property can be sold at a higher price than a property in not sellable condition. The real estate experts say that the buyers always look for tidiness, maintenance and the overall feel of the property. If the property is occupied, try to rent it to people with fewer family members. And if the property is vacant, keep it air-conditioned and well-lit for viewing. You can also opt for a professional photographer or take pictures from your phone for a strong impression on the buyers.  

• Improper Arrangement For Viewing

A proper arrangement for viewing is important if you are looking for buyers to sell your property. If your property is occupied, try to build a good relationship with them. This will help you in properly arranging the viewing of your property for potential buyers in future. It is critical that the tenants are informed about the viewership of the buyer beforehand to access the space. Being a seller, it is essential to be open about viewing the property. This will help in fast and cost-effective sales. Moreover, the seller can also supply the key of their property to the broker if it is kept vacant. The tenants should be informed of the reason you want to sell the property. You can also introduce them to your agent to find a new abode. Agree on the timings for viewings with the tenants to avoid bombarding them with sudden visits.  

• Rushing To Sell The Place

Rushing to sell your property will simply add stress to your life. In addition to that, it may also lead to a loss of deal with the buyers. Working to sell in a fixed timeframe and get the gains will give you nothing in return. Before you go to a broker and start looking for buyers, find out the reason you want to sell your property. This is one of the most important mistakes to avoid when selling property in Dubai. Whether it is for a personal, financial or emotional reason, you need to find one. Documentation also takes a lot of time. Even if you are rushing to sell your property, you can not avoid the documentation part. Since documents will take time, the rushed sale can lead to penalties and even loss to the agreed deal.  In order to avoid such situations, the sellers can send the necessary documents to their agents. 

• Uncomprehending Financial Obligations

To transfer the rights of the property, the seller should be aware of the charges that they need to pay. The seller will be required to pay the settlement fee and NOC charges for transferring the ownership of their property. As a seller, you can take guidance from your agent. These real estate agents will guide you through the other payments that you need to pay. They will also take you through the ways in which these payments are going to affect the selling price.

• Trying For Sale Alone

Do you want to sell your property alone? Then, you are making a big mistake. Trying to sell your home alone is among the mistakes to avoid selling property in Dubai. You should always seek assistance. No matter if you are a first-time seller or have done it before, a little assistance will be of no harm. The real estate broker will surely ask for a commission, but they will help you understand and sell the property easily. The broker will help you in determining the reasonable cost for the property, with increased chances of sale of your property. 

• Spending Too Much Time For Analysis

An analysis is an important factor for determining the competitive cost of your property. But taking too much time for analysis is not right. If you take too much time, then the potential buyer might get out of your hand. A month or two is more than enough time for analysis. To get the right results, always take the help of an agent. The agent will compare the property to the market standards and will get back with appropriate results. 

• Saying No To Assessment

Never decline the assessment of your property. This is one of the mistakes to avoid selling Dubai property. Assessment will work as a tool to get the right price for the property from the buyer. A professional can help you to thoroughly understand and assess the basics of property and where it stands in the market. A rightly assessed property is preferred by the buyers. It is because the assessment calculates the risk, damages, or any other issue that the property might have along with the price. 

• Dictating Things Over Agent/Buyer

Never be a dictator to your real estate agent or your buyer. Making them do things will never lead to your benefit. Always ask for support instead of dictating your agent in the selling process. The same rule applies to the buyer. Never force your buyer to present you something or dictate them to be present at your own set time. Always discuss the matter with the buyer and listen to their thoughts as well. A dictatorship towards your agent and buyer can lead to a negative relationship. In many cases, it will lead to the loss of the deal. The agent might also stop working with you and can remove your listing. 

• Limiting Yourself

A seller always wants to sell their property to the people living in the same city. This is among the mistakes to avoid when selling property in Dubai. The buyer can be from anywhere. Instead of limiting yourself, you should always keep your door wide open to welcome the buyers. The foreign buyers often offer better financial benefits than the ones in Dubai. It is always better to keep your options wide rather than settling for something near you. The wider options might bring greater financial returns for your investment in the property.   

Things That You Shouldn’t Say To The Buyer

Being a property seller, you should always be polite to the buyers without giving out much information. One of the mistakes to avoid selling Dubai property is to say no to harsh language. An inappropriate language or discussion can lead to the loss of the deal. Here are a few things that you should never say to the buyer:

• • Never discuss the present sales price of the property.
  • Don’t tell the timeframe that the property has been on sale.
  • Your reason to put the property up for selling out.
  • The consideration for price reduction on the property.
  • The things that are wrong with the property.
  • The number of offers received for the property.
  • How quickly you would like to wrap the sale of the property.

In A Nutshell

Mistakes are a common part when it comes to selling your property. But there are a few mistakes to avoid when selling property in Dubai. The above-mentioned mistakes are a big no and should be avoided. It is not always possible to be careful when selling a home. Hence, assistance is the best approach to make the selling journey easy. An agent can deal with the buyer without your obligation to reply. But never forget to ask questions from your agent to keep yourself updated with the property’s sale. 

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