Know How to Sell an Apartment Without Broker in Dubai

Dubai has become a real estate hub in recent years, with people from all over the world investing in property to earn benefits when reselling it. Therefore, you will find a queue of realtors to help you with your property sale and purchase. And it gets tough to choose the correct one when you have many options. Failing to choose the right real estate agent might come with several disadvantages. For this reason, people are choosing to sell an apartment without an agent in Dubai. 

Scroll below to learn about the disadvantages you might encounter with the wrong real estate agent and how you could sell an apartment without an agent in Dubai.

An Easy Approach – Sell An Apartment Without An Agent In Dubai

To escape from a wrong real estate agent while selling a property, the very first thing that comes to the seller’s mind is, “How can I sell my apartment without an agent?” following a doubt, even if it’s legit to do so. 

So let’s first be clear that there is no official rule in Dubai that prevents you from taking a lead to sell an apartment without an agent. While on the hunt for potential buyers to sell property without a broker in Dubai, you need to do avid market research and strong marketing of your property. 

• Advertising your Property

You can use several internet property portals or print media to advertise the on-sale unit. Also, you can simply put a ‘for sale’ board outside your property to attract buyers.

• Property Renovation

Do not display the property in the market without fixing the issues, as it won’t attract the buyers, and if it does, they won’t be offering you a favorable deal.

• Advice of Experts

Most of the realtors suggest repairing and repainting the property prior to a sale. You can take note of this advice because agents have access to sales data and they know the market better than the general public does. 

• Price it Right

It’s good to be enthusiastic, but never overvalue your property, as it might  put off a potential buyer. For this, you need to do in-depth market research to know the genuine price of the property so that you can allow some space for the buyers to view your property in order to close the deal.

• Screen Buyers

Always check if the buyer has potential before directly jumping into the serious negotiations. Know if the buyer has a pre-approved mortgage or still requires mortgage approval. It could be a bit confusing if you don’t have any idea about the contracts of sale. 

How to Avoid the Shark Pool of Property Agents

How do you avoid the uncertainty of your property sale on bypassing the agents and risking mismanaging  your transaction. So remind yourself, how do you find a new maid, a new restaurant, or a new dentist? You do not talk to the very first person that cold calls you. You get guidance from friends or online sources after doing a bit of research. 

The same way, you need to filter the genuine realtors by cross checking if they have a decent website and are  RERA-qualified. Also, check  their prior deals to see if they are knowledgeable. Do they work in your area? Are they professional and reliable?

Make sure that if you choose a realtor, they will share your listings with other agents in order to get the best deal for you.  In many cases, agents do not share the listing in their network in order to keep the full commission; therefore, if you hire a realtor, make sure that your listing has been shared with all possible and reputable brokers.

If the agent checks all the above terms, ask them to have the unit exclusively, but only if they keep you updated with all the details. Ensure that the agent notifies you of each viewing, visit, and the details that they have shared with the approached buyers. Also, call for all other brokers to go through the listing and the leads so they will not be bothered by every other broker under the hot sun. 

Benefits of Making a Sale by Yourself

• Pricing and Marketing Control

In order to sell an apartment without an agent in Dubai, you need to make sure that you agree with the price you are looking for. Also, you have to look at all the marketing decisions on your own. If you employ a realtor, they might suggest some great marketing tactics to easily attract prospective buyers. Also, the agents suggest the genuine price of your property so that you don’t lose an honest buyer by overvaluing the property. 

If not a realtor, then you need to deeply understand the market yourself and the current value of the property to make an appropriate decision. By doing this, you can directly communicate to the buyers and possibly negotiate a fair price. 

• Say No to Commission

If you allow a realtor to represent your property in sales listings, they will compensate you with a percentage of the commission. Thus, selling your property on your own will definitely end up saving you a good amount of money. You can save the real estate agent’s commission and could add it to the down payment on the purchase of your new property. 

• Make a Better Deal

A realtor does not know the nooks of your property, thus sometimes failing to convince a buyer at a fair price. But you, as a property owner, know all the deets as you share the emotional connection with the unit, so you know exactly what to say to get the buyers interested in your offer. If you deal directly with the buyers, you can even share your experience with them so that the buyers will not have any doubt. 

You can either choose to sell an apartment without an agent in Dubai and sell the house yourself. But an experienced, professional, and knowledgeable agent could save you time, effort, and energy. Also, an agent could get a better price with the help of their network in the market. 

Over to You

Of course, a realtor is a plus for any sale and purchase as they have a thorough market knowledge. But you can have hands-on experience in selling your home by following some easy tactics to bucket some benefits. From renovation and market research to quoting a fair price and screening prospective buyers, you need to indulge in everything to make a fair deal. Although, you can save a realtor’s commission by selling a property on your own, but only when you have good market knowledge and prior research behind your back.

Frequently Asked Questions (FAQs)