Ultra-modern skyscrapers and vibrant nightlife make the city of Dubai famous. Because of the massive inflow of businesses and industries, the city’s real estate market has boomed. This leads many business-savvy people to become real estate agents. So, how to become a real estate agent in Dubai?
There are plenty of lucrative opportunities offered by the real estate market in the UAE. From being a salesperson, an analyst, and a marketer to a negotiator and a consultant, real estate agents play multiple roles in their jobs. The demand for a real estate agent remains intact even if the real estate market is slow. Though it is a challenging job, it comes with rewarding outcomes.
What are the Steps to Becoming a Real Estate Agent in Dubai?
A lot of people are keen to become a part of Dubai’s real estate industry due to the city’s glorious skyline, amazing engineering marvels, and state-of-the-art developments. Entrepreneurs with outstanding communication skills and sales abilities are capable of becoming real estate agents. If the person is a good conversationalist and is someone eager to learn about what people want, working as a real estate agent is an excellent career option.
The first and foremost thing about becoming a real estate agent is that the person would be dealing with very expensive properties in the market; property. The work can translate into a decent amount of commission in addition to their basic salary if they have the appropriate sales skills of negotiation and hard work to create a better reputation.
The second factor is that it is a lucrative career option to become a real estate agent in Dubai because they get an opportunity to assist people to find their dream property. The entrepreneur gets a chance to meet various multicultural customer portfolios. It is not easy to become a successful real estate agent in Dubai. Since it is a competitive industry, the person should be ready to work hard, join with clients and learn to recognize their requirements.
Real estate has the potential to generate a high income and it is a leisure industry. While the process has many layers, the basic process starts with the training modules organized by DREI to become a successful real estate agent in Dubai. However, a successful agent takes many years to build a strong portfolio of prospective buyers.
The following steps provide a detailed guide on how to become a real estate agent to work and succeed in the United Arab Emirates.
Obtain a Residency Visa ( For Foreigners)
UAE is a country that adheres to strict rules and regulations. Immigration, visas, and work permits are all part of their regulations. Obtaining a residency permit is the first step in becoming a property dealer in Dubai. For the licensing process, UAE citizens and GCC nationals can easily sign up. However, to apply for a job as a realtor in Dubai, the expatriates need to have a valid residency visa.
This problem can be solved using two primary methods that are based on the principles of sponsorship. The first step is to obtain a visa through their business. The company will sponsor the entrepreneur as their employee. This will give them the authorization to work and remain in Dubai.
The business person can use the second method if their spouse is working in Dubai. The spouse serves as the sponsor in this type of visa. This will let the foreigners live and work in Dubai.
Entrepreneurs need to apply for and receive an Emirates ID after they have gotten their visa. Once the entrepreneur completes this official process, they finally start the process of becoming a fully licensed real estate broker.
Complete the Certified Training for Real Estate Brokers
After proving their legal right to reside and work in Dubai, the next step is to ensure the entrepreneur’s competency as qualified real estate brokers. They have to sign up for the training with Dubai Real Estate Institute (DREI). The DREI is the regulatory body that is in charge of providing potential brokers with the necessary training. They also provide certification to work in the local real estate industry.
Aimed at equipping aspiring real estate agents, it is a four-day course with the knowledge that they will need to negotiate the Dubai real estate market. The course has been authorized and accredited by the Real Estate Regulatory Agency (RERA) and the Dubai Land Department (DLD).
The four-day course offers a wide range of topics including the historical development of Dubai’s real estate market, basic skills necessary to act as a competent broker, ethical codes of conduct and behavior for real estate brokers, and an introduction to various Owners Association. They also cover other topics including working as a real estate broker in Dubai, the sales and procurement process as well as legal agreements, general real estate laws, industry dynamics, theories, and crucial market actors.
Located at the Dubai Land Development (DLD) office, the course can be taken in person at the Real Estate Regulatory Agency (RERA) training center. This four-day course can also be taken online. However, they should not forget to take notes, understand the process and revisit any material if they need to. To register for the course, the entrepreneur’s Emirates ID and residency visa are required.
Complete the Real Estate Regulatory Agency (RERA) Examination
The next step toward becoming a real estate agent after passing the four-day DREI training is the written RERA exam. For individuals with a bachelor’s degree from a university, there will be a reduction in fees compared to applicants without a bachelor’s degree.
The exam is an easy pass for most of the applicants provided that they have covered the contents of the certification course well. This adds to the point that the entrepreneur does not require a bachelor’s degree to qualify for a real estate broker’s license. However, having a degree in the relevant field improves the career trajectory of the entrepreneur in the long run.
Obtain the Real Estate Agent’s License
After completing and passing the RERA exam, there is only one more step for the individual to become a fully qualified and licensed broker in Dubai. If the entrepreneur has a clean criminal background, this will be the simplest and the shortest procedure. The entrepreneurs have to submit their DREI course completion certificate, authorization of RERA exam completion, and a good conduct certificate.
The economic department will approve the entrepreneur and issue a broker license within a few days after they have submitted these documents. The license must be renewed regularly and is not indefinite. It is valid only for one year.
One month before the date of the broker’s license expiration, the entrepreneur must begin the renewal procedure. The entrepreneur has to appear for the RERA examination once again and should score 85% or higher. The renewal process can be simply conducted online once they have redone and passed the test.
The entrepreneur must provide documents such as a valid passport or residency permit, personal photo, broker’s license certification, and the renewal fee. Entrepreneurs might not have enough time to finish if they don’t start the renewal procedure one month before their license expires. This results in the reputation of the DREI course or they may have to face penalties such as fines.
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