- June 5, 2022
- 884
- Real estate
With thousands of property listings across the UAE, making your home stand out in the real estate market might be hard. If you want to have a solid place among competitors, you need to learn the best way to advertise your property. Whether it is having a better understanding of your demographic or knowing the best moment to list your asset, there are key factors that determine the success of your investment.
In this article, we will give you some advice on the most effective techniques to promote your asset in the market. We will consider a wide range of aspects that can affect how well your property reaches the public.
1. Why do Dubai real estate investors consider this a great time to sell property in the emirate?
2. Which are the best real estate marketing tips you can consider to promote your property in any market?
3. What are some of the ways home sellers can market their properties through the latest trends?
4. Why do you need to consider working with a real estate agent instead of putting your home as an FSBO property?
5. Which are the major factors that affect the property value in Dubai?
6. What are the additional costs you have to keep in mind when selling real estate in Dubai?
7. How can Connect Property help you market your property effectively in today’s Dubai real estate market?
1. Why do Dubai real estate investors consider this a great time to sell property in the emirate?
To determine how well you will perform selling real estate, look at the trends in the market. Currently, the numbers are favoring excellent numbers of purchases, generally giving remarkable profits for investors.
Over the last few months, Dubai has had a record number of individuals buying properties. This is fueling one of the best years in the local real estate market. There has also been an almost 10% increase in property listings, with sellers confidently expecting they will get the price they ask for.
For example, popular areas such as Dubai Hills have seen property owners getting the deal they expect for their luxurious residences. Average values for the assets here increased between 15% and 30% last year, and the current year shows a continuation of that trend. Indeed, among the best areas for investing, it has been an ideal time to obtain great profits from properties.
Moreover, places such as Jumeirah Village, MBR City, the Damac projects, and Downtown are highly rated as potential spots of high demand. Individuals who own property here commonly hold back selling their real estate assets because they hope the asset values will go further up.
2. Which are the best real estate marketing tips you can consider to promote your property in any market?
Selling real estate can be a costly and time-consuming process. However, it is possible to make the situation less tedious and even get higher offers if you adjust your approach accordingly to the current conditions of the market. Whether you are inexperienced or are looking for better strategies, these tips can help you prepare for every real estate market situation and sell with confidence:
2.1. Create a website
Prospective clients can see easily what you have to offer if you create a website for your real estate business. Including listings and updating them constantly will engage prospects to visit your site as they search for properties.
2.2. Working with an agent
The most traditional way to sell a property in any market is to find a real estate agent. The agent will take on the task of listing the home, promoting it, and coordinating showings. Besides, they will help you ensure the deal goes as planned by evaluating offers and negotiating terms with the buyer.
2.3. Price your property competitively
When the real estate market favors sellers, it seems attractive to inflate your property’s listing price. However, it is better to set a fair price according to recent sales of similar close properties. In this manner, a strategic price will draw the attention of more potential buyers, and they can increase the price by bidding.
2.4. Experiential marketing
With experiential marketing, you can engage your prospects and invite them to interact with the real estate business. You can opt for hosting a tour in the neighborhood you are selling in or an event to teach the local buyers about the whole home buying process.
3. What are some of the ways home sellers can market their properties through the latest trends?
A combination of covid-19 restrictions, limited housing supply, and historically high demand is changing the way both sellers and buyers are operating in the real estate market. In case you want to sell a property in these conditions, here are various trends you can expect in today’s market and the ways sellers are dealing with them:
3.1. Limited showings
Finding a real estate agent is essential during the pandemic, and they must follow cleaning and occupancy protocols. Serving under strict safety guidelines limits the number of showings. As a result, this can cause frustration when scheduling and even lineups outside homes.
To help mitigate this, agents started using technology in real estate such as live streaming, “dollhouse” or 3D renderings, and virtual reality so buyers could see the interior of the property listed for sale. For sellers, these technological tools offer an innovative and practical way to market their home to a wider audience and weed out unserious buyers.
3.2. Maintenance
To sell real estate at a good price and quickly, sellers need to examine the property keenly and renovate the place meticulously. A nice and clean place attracts more buyers than any other less maintained one. Sellers try to hit the latest trends for paint colors, neutral or light colors are appealing to buyers. Additionally, they pay attention to and solve any plumbing, waterlogging, and salinity issues.
3.3. Research
Sellers look around and seek similar properties and their conditions and ask professionals in the field to evaluate the price. Research is one of the most important things to do first and implement in any task. It allows sellers to think about the real estate market in a broader sense and make the necessary amendments to attract more home buyers.
4. Why do you need to consider working with a real estate agent instead of putting your home as a FSBO property?
Putting a commercial real estate for sale by owner sounds like a great way to save some money. However, it might cost you even more than what you have expected. Whereas, working with a real estate expert can be cost-effective. Besides, they can guide you through the whole home selling process. In this way, there are many reasons why you should find a real estate agent to help you with the sale instead of selling as an FSBO.
One of your main concerns as an owner is selling the property as fast as possible so you can move on with your next objectives. But you may not be aware of the actual worth of your house on the marketplace. This is where the need of finding a real estate agent appears. They can help you set the best possible fair price for your property in your area based on their research.
Moreover, one of the biggest advantages of selling property through agents is that you will have someone prepared who will assist you when navigating local laws and regulations. They can also share recommendations and contacts with you. If a commercial real estate is sold by the owner, it can be difficult to figure out who will draft contracts and perform property inspections.
Along with being informed about local laws, it requires preparing a lot of paperwork. An agent can also help with this and determine which properties have been on the market for too long and analyze what may be affecting the market appeal of your property. With everything in mind, it is fair to say that finding a real estate agent will keep you away from stress and home-sale-related concerns. Being the opposite of what selling the home on your own involves.
5. Which are the major factors that affect the property value in Dubai?
When buying and selling property in Dubai, individuals often factor in the current property value. Congruent with data, the prices of properties tend to increase in a stable economy with a low level of unemployment. For this reason, it is advisable to review annually the property prices. Various factors can influence the property value on either side of the price range in the Dubai real estate market, some of which include:
5.1. Location
This is one of the most significant factors that influence property value. Home prices can differ substantially according to the area they are located in. When determining the value of a property in Dubai, appraisers keep in mind basic indicators. For instance, proximity to essential facilities, quality of schools, and employment opportunities affect the price of a property.
5.2. Condition
As previously stated, if a property is well kept, then it will sell in the real estate market for more than a non-well-maintained property. The more a house feels cared for, the more valuable it will be for the potential buyers in Dubai.
5.3. Market positioning
The amount of exposure that your property receives will influence the number of offers that will be brought to you and its price. Your real estate agent should inform you about similar properties in your area and their sale statuses. In fact, a common reason for a property being unable to sell is the lack of proper marketing. Many sellers solely list their commercial real estate for sale by owner on a property website, limiting the exposure.
6. What are the additional costs you have to keep in mind when selling real estate in Dubai?
It does not matter which of the many ways to invest in real estate you use, you always need to be ready to face potential extra costs. Because of this, here are some common fees investors have to face as they put their assets for sale.
- NOC fees are a must in any real estate deal. Also known as the no-objection certificate, this step confirms that the fees, charges, and property costs are all paid up by the buyer. This also ensures all the rights of the property now belong to the buyer. The cost for these charges is usually around AED 500 to AED 5,000.
- The agency fee is a charge that the seller has to pay. Commonly, real estate agencies charge a 2% commission on the total selling price of the property.
- The Dubai Land Department fee is the charge made by the government for all transactions in the real estate market. They ask for 4% of the selling price of the asset.
- The transferring ownership fees are also given to the Dubai Land Department. It is a small charge that can be paid by both the seller and buyer depending on the agreement.
7. How can Connect Property help you market your property effectively in today’s Dubai real estate market?
If you are looking for a website to list your asset, Connect Property is an ideal place to find help. Our website gives you the necessary resources to list your property and advertise it to potential buyers. Thanks to our easy-to-navigate interface and useful search tools, more users will quickly find your home for sale.
If you still have questions about the ways to invest in real estate, make sure to contact our 24/7 support hotline. Our team is here to assist you every step of the way to help you reach a successful deal. Start your investment in the real estate market today with Connect Property!
Are you ready to use the best marketing strategies to successfully sell your home? Get in touch with Connect Property’s specialized advisors by calling us at +971 43 316 688. We can also take care of your inquiries if you write us an email at contact@connectproperty.ae. We will gladly help you as soon as we possibly can.
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