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How Entrepreneurs Can Setup Real Estate Business in Dubai

Business in Dubai

The real estate business is an intermediary in the sale, purchase, and rental of apartments, houses, and other residential and non-residential properties. It belongs to one of the most promising sectors of the modern economy. Building such a company takes a lot of time and money. There is a vast majority of entrepreneurs who wish to set up business in Dubai. Most of them wish to come into the real estate business in Dubai, due to its several benefits. The main income of such companies comes from the successful conduct of real estate transactions. In addition to intermediary activities, real estate companies also offer additional services to their clients, such as registration of privatized apartments and collection of documents for all operations. So how do you start a new real estate company in Dubai from scratch? Let’s see some tips…

Business Planning

A business plan is a temporary measure. This is probably the most important thing in planning. When starting a business in Dubai, you need to understand what you are aiming for and see the approximate results of the plan. So you need to have an idea of ​​what revenue the agency will generate at the end of the year, what the margin will be, what the sales volume will be in a year or two or three. The more specific the goal, the better you will understand how to achieve it.

Registration of the Company

Real estate agents handle real estate transactions such as buying, selling, leasing and providing legal advice. Subject to certification related to intermediary services. To open a real estate agency as a business, you don’t need to collect a lot of paperwork. So all you have to do is apply for registration, but the company into the account, get a certificate of insurance, pay state fees and much more. As for the legal form, it is better to open an LLC. If you don’t have start-up capital and want to take out a loan, you’ll need a business plan for a real estate agent, proof of solvency, and an appropriate appointment. Therefore, in addition to registering as a sole trader or legal entity, you must pass certification. You need to register your company first for setting up a real estate business in Dubai with ease.

Updated with Information

It must be remembered that in the real estate business, the relevance of information is very important. The specifics of the modern market often change drastically and you must adapt your business flexibly. Therefore, changes in the business plan are inevitable until a new company is established. This means you need to monitor all changes in the real estate market, quickly find profitable properties, and do business with them. To let customers know about your latest offers, create a website that will be constantly updated and advertise in the local press.

Select an Office Space

For business setup in Dubai, it is advisable to choose an office in the city center or in an area where activities are carried out in person. The best solution is an office on the ground floor with a separate entrance on the red line. The second option is an office in a large business center. An office can consist of several separate rooms. The first room is the waiting and customer reception area, the second is where the real estate agent is located. The directorate office should be set up separately, which can be combined with the documentation area.

Recruit Experienced Staff

When recruiting, pay special attention to their hands-on experience. This is especially true for the real estate department. For the company to grow harmoniously, continuously improve employee qualifications. To do this, regularly send them to special courses and seminars. The most important properties for brokers:

  • Sociability
  • Ability to communicate with customers
  • Goodwill

There is no need to hire a large number of employees in the start-up phase. To create a database of real estate deals. Remember, it is people who build your company’s reputation, so make your decisions seriously and responsibly. These employees include agency heads, secretaries or deputy managing directors, real estate agents, lawyers.

Advertisement of Business

The real estate market is constantly changing. If you don’t keep track of all these changes, you can quickly go bankrupt and lose your business. To make your company recognizable, you need to reach experienced advertisers. Consult a professional to get the customer’s attention. You should use glossy fashion magazines to promote it. Such publications contain the necessary information, as well as several large photos of the object. Many business people use brochures, pamphlets and stretch marks on apartment windows for sale to promote them.

Wrapping Up

Setting up a Real estate agency business in Dubai is a very profitable business. The services of such companies are in great demand in every city and region. Therefore, with a high workload and competent organization of affairs, you can quickly repay the initial investment, after which you will receive a stable high net income.