Can a Dubai homeowner sell without going through a real estate agency or real estate agent?
Our article today will answer a question that homeowners who are trying to sell their houses commonly ask. In the hope of saving commission fees and putting their extra money in their pockets, homeowners in Dubai often ask if they can sell their homes without going through a real estate agency or real estate agent. The simple answer to this question is “yes.” However, we will tell you why you can and should not do it for various reasons that we will explain later in our article. So keep on reading and discover those reasons.
No legal barrier to selling your own home in Dubai
As we have just mentioned, you can sell your house without any middleman (broker, company, or person). No legal or regulatory barriers will prevent you from doing so. To ease the matter even more, here are the steps that you could follow if you would like to sell your home on your own:
- Choose a way to advertise the house you want to sell. You can choose some online portals or go for a printed press or do both.
- Once you get an offer you are satisfied with, you can find a conveyancing company to guide you when signing the contract and transferring the property.
Though the matter seems very easy and sounds like you did the job in two simple steps while saving the commission fees, we do not recommend it. Doing this alone can make you commit some mistakes, thus preventing you from gaining the total value of your house or property.
Situations that can arise when you sell your house without an agent
1. Marketing and presentation difficulties
Before even presenting your house for sale, you must ensure it is presentable. What does that even mean? Many people need to pay more attention to advertising their property after removing any clutter and fixing defects to give the right impression. This tactic will not work if you do not work with a good agent, who will advise you to get your house ready and probably even repaint some parts.
In terms of marketing, you need to understand the demographics of the potential buyers of your house and how to market your property effectively on social media. By effectively, we mean setting the proper budget and targeting the right audience. If you do this correctly, you will save much money by avoiding commission fees. An agent can help you follow the best marketing techniques that get you the best value.
2. Property valuation challenges
You need to set the exact value of your house. It would be best if you did not estimate it as higher or lower than what it is. Because agents are familiar with the markets and have access to sales data, they know the right price. Moreover, they are aware of the benefits and advantages the buyer should highlight if they set a price higher than the actual value, like the locations, the innovations done to the house, or any other reason.
3. Time management issues
One problem for homeowners who want to sell their houses independently is that they might need to pay more attention to setting aside enough time for interviewing the buyers. When selling the home through an agent, the agent interviews potential buyers answers their questions and arranges to meet them. As an independent seller, you will need more time to do all that; thus, you might miss out on good opportunities.
4. Problems caused by a lack of information
When selling a property, you must understand the contracts and paperwork involved. The paperwork associated with the sale or purchase of property is challenging and requires time and experience. For example, the paperwork related to the Dubai Land Department and the Real Estate Regulatory Authority (RERA). The situation is different with a real estate agent. Real estate agents are well-versed in this matter. Once the buyer makes the offer, the agents know all about the various talks that should take place, and they understand the conditions involved with the selling process.
5. Complications with closing the deal
You accept a good offer. Congrats! But the job still needs to be finished. There is still much work to be done before the transfer is complete. Real estate agents quickly understand the procedures to follow once a sale price has been agreed upon for the property to transfer successfully.
Now, you understand how important it is to have a real estate agent to help you sell the house. Nevertheless, you must choose the best one to get the best bargain.
How to choose the best real estate agent in Dubai:
- Get recommendations from your network and your close friends. People with on-hand experience with a real estate agent will know which one is best.
- Search the Internet for the best real estate company. Google multiple resources to determine which company is the most reliable.
- Check how the real estate company advertise the houses. Make sure to choose one that selects the right words and photos.
- Check how long the company has been in the market. Experience is essential when it comes to the real estate industry.
You need to focus on these main points when choosing a real estate agent.
Now, it is your time to tell us your opinion. Is it better to sell your property independently or through a real estate agent? Be sure to mention the reasons that justify your options in the comment below. But, as is always the case, we cannot wait to hear from all of you.