The profession of Dubai Real Estate is in high demand due to the rapidly growing industry. People who can sell the property are making handsome money from the commission they earn from every successful deal. A large number of people get drawn to this business due to high paychecks. However, the statistic shows that 87% of professionals who join Dubai Real Estate fail within the first five years. Comparing to the mainstream job, where the rate is 50%. The real estate agents are getting stuck in their profession.
In this blog we will be discussing a few points on the top mistakes that Rookie Real Estate Agents Make. Read on and gather some valuable information from this piece of content.
The reason for the failure lies in their ability to handle their job and the task given to them. The rookie estate agent often makes silly mistakes in understanding the business nature. They mostly take arbitrary decisions to solve an everyday problem. Due to the lack of experience in the business, their decisions are mostly driven by intuition.
The real estate business seems easy, but it is the most complex business that needs control over handling human emotions and understanding the psychology of the people. It is too hard to assume what your client believes when they visit the location to see the property and shape their decision. Therefore, even veterans make mistakes while dealing with their clients.
Further in the article, we will discuss the common mistakes people make when choosing the career of becoming a real estate agent.
1. Communication Skill
Lack of experience in the industry makes agents sound very excited. However, when it comes to selling high-priced products, the sales pitch you have created to influence the client is not going to work. Instead, you need to learn people skills. Successful Dubai Real Estate knows how to build a relationship with their clients add realtracs listings to your website.
They do not approach their client to sell something, and they bring the deal that will make them rich by acquiring the best property in town. Unfortunately, many rookies’ real estate agents use unpleasant communication skills, making them look like marketing guys interested in selling their products. You have to learn how to make friends if you want to be a good real estate agent.
2. Little knowledge about the industry
When you decide to become a real estate agent, the first thing that you have to do is gain knowledge to understand how the real estate industry works. The industry is consistently growing, and new policies are introduced every year, making real estate investors enter the market to buy the property.
When the waves are moving in your favor, you move faster and try to approach as many clients as you can, and when waves are moving against you, you should not oppose and stay relaxed.
Money in the hands of the people drives the real estate economy. When the government declares a policy to reduce taxation, people move spare money into real estate. The new rules encourage people to buy the new property. This kind of information would be helpful when you become a real estate agent. Stay up to date and take action when things are in your favor.
The Bottom Line
Sometimes property sellers overpriced their property. When you do your research, you also find that the property is overpriced. Still, you decide on selling this. This is a common mistake that agents make in their profession.
Your client can also calculate the price of the property; hence, you should not get yourself involved in such property as it will consume your time, and you will not get any return from it.