Selling a property in Dubai using multiple agents

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appletrees12

New Member
I want to sell my property but do not want to be tied to one agent as, having done this before, one can pick the wrong agent and then be tied to them for too long while they do nothing or try to manipulate you because they know they are sole agent and think they can. Has anyone else done this?
 
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Longterminvestor

Administrator
I think it is a dangerous and potentially expensive game to use multiple agents to sell a property. Find one you trust, perhaps a recommendation from a friend, and incentivise them to sell your property at the best price.
 
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appletrees12

New Member
Thanks for reply but why is it "dangerous"?! I'll try to be brief with my experience.I put property on market last December with an agent who seemed good and the agency was one of 7 recommended in an online article which still comes up if you google today. However, I was not living in Dubai. Soon after there was an article in Gulf News saying that agency had lost a court case and had to pay 1Million AED to a client. Its CEO also told Gulf News he was going to close the agency. I had to contact agent to ask what was going on. He said - "No every thing is fine".but then heard nothing from him till I told I was returning to Dubai after a few months. He wanted to know "why" I was returning. When I arrived he said he had an offer - which I accepted, however I had left the original Title Deeds in UK. I had a safe installed in my flat in Dubai especially for the Title Deeds but this agent told me not to leave them at the property, so I didn't. He then told me I should withdraw property as I did not have original Title Deeds with me although he had a copy of original. I said OK and asked for keys back. I did not believe he had any offer. He did not like me asking for the keys and was angry!
Second experience March/April - with a large agency. Agent told me there were no T & Cs and no fees to agent for me as seller. I left Dubai.
2 Weeks later - had offer. It was very rushed - with document emailed to sign - including RERA FORM A - Agreement between Seller and Agent - on which it said had to pay agent AED38,000+ . I was told I now had to pay fees because multiple agents were involved and had to be paid. The conveyancing was done by the estate agent's co - which was also paid for by seller. Now this a large agency in Dubai with good web site and advertises on all the portals so why do they need to use other agents?. However - I signed all the docs. sent to me. Immediately this sale fell through - buyer backed out. Then a few days later - the same thing happened again - expecting me to pay agents' fees because there were multiple agents involved. I then became very doubtful of this agency. As they handled the conveyancing they could just deduct from the money paid and why did they repeatedly have to pay other agents? I also had to sign T & Cs saying would not discuss the sale with any one. They said the agreement on Form A was valid until August - 3 months. I have been waiting for this to expire as I have not seen a solicitor.. I am returning to dubai soon to try to sell the property again.I would prefer to deal with multiple agents directly myself.I also will expect the buyer to use a solicitor as I did when I bought. Seller beware!
 
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Mohammed Irshad

New Member
Wow this just seems dodgy.., I am in to a year of puting my money down as I am buying a studio in Dubai land Akoya oxygen would love to speak to someone who can give me any advice.., first time buyer in Dubai put my money with damac from what I've heard and seen... Been to Dubai 5times love it!
 
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imran5000

New Member
Just been reading your posts, There's pros and cons to each side of argument whether to use single or multiple agents. I am a property agent myself and have been for 5 years or so in Dubai. Dealing with brokerages/agents can be a nightmare, i've seen it time and time again, the fact is, if an agent has exclusivity to a property, its gold to them, because the only way it can be sold is through them. It will guarantee them a commission fee, so it stands to fact, that they will do anything not to return the keys. A bonus of only using one agent is it helps sell the property at your expected price but you should expect to wait a little longer due to the difficulty of only one agent advertising against the other several thousand agents currently in Dubai and marketing in Dubai is not exactly easy. It's a very dog eat dog market amongst agents in Dubai, as most only get paid commissions and not salaries, hence the very bad attitudes.

On the other hand having several agents dealing with your property, advertising prices will fluctuate between them and you will get all sorts of prices offered for your property which doesn't really help and wastes a lot of time, even sometimes resulting in your property becoming lost in the market (what i mean by this is, your property will not be a priority anymore and agents will start marketing it on behalf of other agents in order to make a cut of the commission - something is always better than nothing is a common motto),However on the Plus side of advertising with several agents is you are maximizing exposure of the property through media and internet portals, which results in more offers. It's a hit and miss thing really.

My advice is use one property agent if you are living abroad and need someone to represent your property in Dubai on your behalf, someone you can trust, someone may be of same nationality to yourself, so you can build a good relationship with them. Stay in touch with them and meet them when you are in Dubai even if it's not about business. A good trustworthy agent will make the effort to stay in touch with you consistently and update you with both good and bad news regardless (i.e price fluctuations, potential viewings, stupid offers) indicating that your property is priority on their books, even if it's a message on whatsapp once a week, it shows they want to help and shows the attitude of a good agent. If you are living locally, take advantage of several agents, as you can stay close to any action taking place and keep your finger on the pulse, yes you will be bothered a lot more but atleast you know what's going on.

In regards to dealing with just one agent and trying to find one in Dubai take it from me, iv worked for very large reputable broker firms in dubai and also some smaller ones, don't be taken in by the company names or flashy websites, agents are still agents regardless who they work for. Iv seen good and bad in big corporate well known companies and the smaller brokerage houses.
Being an agent myself, i only work with a handful of agents that i know quite well in terms of reputation and experience, i'll be honest, i am a little biased as i am british myself, i only really like to work with similar western nationality expact agents, because i can communicate and relate to them better and they very rarely let me down, because we have mutual expectations. It seems to work for me, so am sure it will for yourselves as well
 
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