Selling UAE property through an Estate Agent / Broker
Most traditional UAE based Estate Agents charge 2% to 4% on the sale price - up to 2% payable by the seller and some Estate Agents in Dubai will also charge a 2% fee to the buyer.
Sell UAE property privately with IppZero and pay no Broker fee
To sell Dubai property privately, IppZero.com charges a flat fee starting at 160-AED per month until your property is sold (cancel anytime) or you can select 6-months prepayment with prices from 800-AED.
Apply the 2% figure to a typical 2-bedroom Dubai apartment, costing 1.5 Million-AED, and you save yourself 30,000-AED – enough to contribute towards the transaction taxes on your next property investment.
Sell UAE property privately costing 5 Million-AED, and you will save 100,000-AED in commissions – a new car?
View Ippzero’s savings calculator IppZero.com/savings and you can quickly see how much you can save when you buy or sell Dubai property privately
Traditional Estate Agents / Brokers
The business model of the old-fashioned Estate Agent is outdated and ridiculous. Why pay someone 100,000-AED to sell your 5 Million-AED property in downtown Dubai on a high floor with views, but 30,000-AED to sell a nearby 1 Million-AED property on a lower floor with no views?
Surely the cost of sale is the same on both properties; initial evaluation / visit, photos, brochure / particulars, upload to the Internet and attend viewings with potential clients. What is the difference? Oh, some Brokers will have you believe that they have potential buyers on their books searching for properties like yours.
Ask yourself an honest question; how many properties have you purchased (not just viewed i.e.finally transacted / completed on the sale) where you were previously on a mailing list or preregistered with the Broker prior to making your purchase with the Agent that introduced to the property?
Then why such a high fee - it is not like you are paying for much expertise - limited qualifications are required to become an Estate Agent in Dubai. Most amateurs could achieve the basic certification and it is the buyer that decides the purchase based on the price of property, their budget and the suitability of the property to meet their needs or investment goals.
Hypothetically, you could set yourself up as Estate Agent fairly quickly – unlike other professions such as Management consulting where you need specific skills, experience and qualifications such as an MBA.
It is also important to note that the Brokers are certainly no better at valuing your property than you are. Thanks to the Internet, you have access to all of the major property portals and can compare asking prices of similar properties to your property.
Some UAE property portals even display the range of final selling prices for specific areas and actual buildings / urbanisations where data has been obtained from official Government sources.
The bottom line is that you are paying for an Estate Agent’s expensive office and their company cars.
The Broker fee goes on the Estate Agent’s offices; on their cars, the salaries and the firm’s commission structure. What do you get in return - a whistle-stop tour and a few photos on their website with a brochure.
An Estate Agent’s knowledge, too, is extremely fragmented. Try asking an Estate Agent in Dubai Marina about comparable properties in Downtown area and they will refer you to another representative or the company’s Downtown branch. These days, thanks to the Internet, you can make the comparison yourself without having to leave your home.
IppZero has stripped overheads to provide you with the bare minimum to help you sell UAE property privately with no commission
Again and again, the Internet is destroying old cartels. As with many Internet purchases, any savvy buyer visits the nearby shopping mall, views and selects their preferred item, and then returns home and orders it online saving on the high street price.
Buying and selling property should be no more complicated than buying or selling any other asset. Know your price, do not go below your bottom line, draw up a list of what’s included, place an advert, do the viewings, negotiate, agree the deal and engage a legal professional to draw up the contract.
For your convenience, IppZero has prepared a Guide to sell Dubai property privately.
Do not live in UAE to handle viewings?
Many Dubai properties are rented whilst there are being marketed for sale. Do a deal with the tenant – if they help you sell, then reward them for preparing and presenting the property to show house condition. Perhaps a rebate on the final months rent?
Alternatively, leave the keys with the concierge and again, pay a reward based on the successful completion of the sale of your property.
Many buyers will prefer this approach, as they know that they are more likely to get an honest viewing when they buy Dubai property privately – in addition to saving on commissions.
Buy Dubai property privately with no commission
Cosmopolitan locations, touristic regions and highly desirable areas always attract International property buyers and professional investors.
Similar to an Iceberg, only 10% – 20% of property buyers are visible in local and regional markets.
80% – 90% of foreign property buyers and professional investors reside in different countries - this is also true in Dubai.
It is therefore essential to target foreign buyers in their home countries / regions on No. 1 and leading International property portals; Americas, Middle-East, Europe, Russia, India, etc.
IppZero helps you target the critical mass of International property buyers and investors without sales commissions.
Residential buyers and property investors are always looking for a good deal. When they view your property on Global property portals, a buyer can clearly see that they are able to buy UAE property privately with no commissions.
What is important is to market Dubai property privately on the No.1 & leading Global property portals. Historically you could only access many of these property portals by going through an Estate Agent / Broker. This is no longer the case and IppZero provides access to range of the biggest International property portals helping you reach Millions of potential buyers on a Global basis.
The Expat population in Dubai is phenomenal. Combine this with International property investors that invest in Dubai and it is clear that you need to be marketing your property Globally.
In many cases, you will already be doing the property viewing yourself or asking permission from your tenant to allow access for viewing purposes.
At IppZero you can sell Dubai property privately with no commission and reach buyers across the Globe.
Ippzero provides a range of advertising packages, whereby the advertising pricing is based on the volume of potential buyers you that you want to reach.
Visit the Webstore to select your preferred advertising package.
IppZero is an intuitive, contemporary self service website where you register, select your preferred advertising package, create your own advert, upload photos and go live with your listing within 24 hours.
This is a lot quicker than what most Estate Agents / Brokers can provide when they are charging Thousands in commissions for the privilege.
When listing with a local broker, you are essentially paying for a less efficient property advertisement service with a big expense that is ultimately being paid for by the buyer who either overpays for your property, or you are taking a loss on the property’s fair value to cover the Brokerage fees.
To justify their high fees, they will place your advert in their front window in addition to creating a brochure.
There are many horror stories of Estate Agents operating in Dubai. The best way to avoid dodgy Estate Agents is to become one yourself - for your own property sale. Thanks to IppZero’s self-service website you register yourself as an IppZero Agent for your own property.
All potential buyers contact you via a web form on the IppZero website. This way you get to qualify all potential buyers (property meets their needs, budget, funds are in place / mortgage approved in principal, timescales, decision makers present etc.) and decide which prospects you are prepared to invite for a viewing.
Many brokers will send anyone to view to your property just to help demonstrate their activity. Anyone selling a property is fully aware of how time consuming it can be preparing the property to show house condition for each and every viewing. Why tour timewasters or prospects that do not have the required funds in place / mortgage approved in principal.
IppZero will support you in selling Dubai property privately from initial property listing through to negotiation and completion.
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