You’ve heard about the tax free, uncapped commission and huge earning potential. You’ve seen the world class apartments and villas for rent & sale in Dubai. You’ve watched the glamorous Netflix shows and now you’re ready to pursue a career in a Real Estate. 2020 was the year people saw their homes as so much more than “just a place to live.” We turned our humble abodes into offices, gyms, schools and bars! So it is no wonder the Real Estate industry in Dubai is booming!
As a recruitment consultant I am fortunate enough to speak to people daily who are considering a career within the UAE’s Real Estate industry. My aim is to not only sell the job and initial relocation to potential candidates but to give them the opportunity to build a long and successful career. This means being totally honest and transparent through the whole on boarding process.
So, here is my guide to a few key factors to take into consideration before signing that offer:
1) Commission only: The Real Estate industry in Dubai does not offer the “safety net” of a basic salary as the generous commission structures far outweigh capped earning potential. The Real Estate industry attracts target driven, money hungry, ambitious individuals who are drawn to the idea of essentially running their own mini business. This means that the harder you work, the more you can earn.
2) Start up costs: So due to the above you will need to ensure you are financially comfortable to get started. You will need to factor in all costs involved with the initial relocation & living expenses for your first few months. We recommend having enough savings to cover these costs and live comfortably for a minimum of 3 months. This includes accommodation, bills, car hire and day to day living costs. Also, it is recommended that you speak to the recruiter about any additional fees that may be taken out of your commissions each month. For example, some agencies may charge additional fees for things such as marketing, admin & medical insurance.*
3) Do your market research: How is the property market performing? How does the UAE market compare to your local market? What tools will the agency provide to support you in the early days of your journey? Which areas are most transactional? Does your chosen agency offer a training program? If so, what does the training entail? Any good recruiter will be happy to give you a detailed breakdown of this ahead of the move to prepare you.
4) The workload: Real Estate is not your average 9-5 so if you’re a clock in, clock out type of person this is not for you. Real Estate requires hard work, dedication and long working hours. This includes evenings and weekends. You need to be prepared to spend your first few months building your pipeline and hammering the phones. You are the master of your own success and have full control of each aspect of the role. That includes speaking with landlords and tenants and listing your properties as well as the viewings. Most of your time will be spent in the office, on the phone. Don’t be fooled by the glamorous Netflix documentaries,
5) You get out what you put in: Think you can sit back and wait for the deals to come to you? Think again. Real Estate is a competitive industry and you will need to be fully committed to being the best and most successful version of yourself that you can be.
To sum up all of the above Real Estate is a fantastic opportunity for anybody who is looking to enhance their earning potential within an exciting industry. However, nothing is handed to you on a plate. You need to be prepared. Have enough savings, have confidence in the company you are joining, keep in contact with your recruiter in the lead up to the move, ask questions and enjoy the process!
If you think an exciting new career with the UAE’s largest and longest standing brokerage is for you, drop me an email on firstname.lastname@example.org or email@example.com.
The Prestige Real Estate Group are the UAE’s largest & longest standing brokerage.