Real estate Dubai 50% commission only job offer
I have been offered a job in Dubai as a real estate property consultant. The offer is 50% commission only. The potential earnings are £50,000 - £100,000 per annum.
I just wanted to know what the property market is like in Dubai at the moment and how realistic is the potential earnings.
Any advice would be helpful.
These jobs are 2 a penny. Before the crash it was very easy to earn that sort of money. Now it is still possible if you are very good and prepared to put in the hours. The market here is very different to the UK, it is frustrating and stressful. Make sure you have enough money to cover your living expenses for the first few months. Dubai is an expensive place!
how much would you suggest to be an adequate amount to survive on for accommodation, car hire, food, etc. per month.
Ill be dealing with leasing and sales. What would your rough guess be before I start earning my own money.
dhs.10k a month to cover basics and car.
Leasing you can earn money within the first couple of months but the returns are much less than sales. Landlord's can register their properties with all RE companies for free so for every property you have on your books so do 100's of other agents!! Many of your deals will be split deals with other agents so your 50% commission becomes 25% commission.
Sale will earn you more per deal but it can take months before start to get any returns. You are competing with agents who have been here years and built up a good data base of owners/buyers. With sales it is all about building up good relationships.
If you have the money to support yourself for a few months and are confident then go for it but if it is going to put you in debt then think again!
Thanks for the advice.
I have a good amount of successful experience I have built up here in London and have the confidence to come and use my experience in Dubai. I am financially comfortable and will be able to cover my costs for a few months.
Do you think I should go for it?
Is there money to be made out there?
If you do have a successful career in the UK, why would you wanna take this risk?
read what people think about agents here.
Plenty of posts in these forums...
Everyone loves to hate an Estate Agent in the UK, but you guys are roylaty compared to what goe son here!
If you have the ability to answer every phone call and email and eal with every query, however daft, and then assist with the entire process without losing all interest after you've 'sealed the deal', then word might go round that you are worth talking to.
You'll see threads were people accept huge rental increases just to avoid going fishing for a new place because the process is so painful.
Can you rise to the top? and more importantly, can you stay there?
you've been told 50-100K sterling. How does 50K sterling compare to what you are on now?
I'd imagine you ae on more if you are as successful as you say.
If anyone gives you a low-high figure on what is achievable, work with the LOW figure, and even then - question it.
to earn 50,000 UK, you need to rent approximately 100 villas/apartments a year at an average rental price of 120,000aed/annum.
Sales will change this, considerably.
Confident you can shift 2-4 places a week, week in week out?
I've no idea what an average agent achieve here.
This place compares in cost of living to London more than anywhere else in the UK, i'd say, but you need to earn more to make it worth the relocation, cover flights home, medical cover etc, and save some cash. THere's no state assistance here - no NHS, no state pension, no safety net. You need to be suitably compensated to cover this risk.
i came here in June, and rented a property after one month.
I met 4 or 5 agents.
I was shown around several properties (some twice by different agents)
all but one were hopeless, couldn't give a t*ss about my requirements etc, and were interested in the commission, and commission alone, and it showed. The Geordie Columbian was, perhaps, the biggest joke of the lot!
The one i rented off, and therefore got the commission, showed the property well, but also showed the area to get a good feel for the surrounding. She sorted out my DEWA (water and electric) connection for me, sorted out my EJARI (officially recognised tenancy contract, required over and above landlord contract) sorted extra keys, additional maintenance i'd requested etc.
I'd go back there like a shot.
A lot of 'extra' work, but then that has resulted in referrals from me.
You'll graft and slog and you'll go up the wall while enduring Dubai's learning curve which can take anything from 6 months to a year. At the end of it all, will you be any better off? I can't predict that but given the choice whether to live in London or Dubai, London wins hands down. Weather isn't everything.
The market here is very very different to the UK. Your properties are not exclusive. You will lose many deals at the last minute because the landlord/owner has changed his mind but rather than let you know he will just ignore your calls. In the meantime your client will call you all the names under the sun for losing him his dream apartment, forgetting that you just spent 2 weeks being a Dubai tour guide. When a landlord/ client / other agent agrees to meet you at 10am tomorrow what he really means is he may come sometime during the day if he feels like it. But if you have plenty of cash and you want an adventure then go for it (nothing ventured / nothing gained).. but do not think that being successful in the UK makes any difference and remember you are at a disadvantage because you do not know the market.
I appreciate all the advice from all of you.
I just want to know if I do come and work like a professional (the way I'm used to), is there any chance by the end of my first year I will make a loss financially?
As long as I'm making enough to cover my costs and a little extra for the occasional night out, I would like to give it a go as I would like a bit of a change from the UK for a couple of years.
I will always have the security to go back to the UK if I'm not enjoying it.
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