Words: Ashley Rigg
Published: 12th October 2009
Dubai: 61% of agents rated as “poor”
A survey interviewing 178 property buyers in Dubai over a four month period found that 61% of investors rated the agents they used as either “poor” or “very poor”.
Participants evaluated property brokers according to knowledge and skills, ethics and behavior, consultative ability, and empathy with 61% dissatisfied with the performance of the agents who brokered their purchases.
Mohanad Al Wadiya, MD of Harbor Real Estate Brokerage who conducted the study said the results reflected the fact that the real estate industry in Dubai was underdeveloped. "What we have here is an indicator of an industry which is still relatively immature. The level of proficiency in effective consultancy, based on sound knowledge of the market and an understanding of the buyer's requirements, appears to be the main shortcoming”.
Last month, RERA, Dubai’s property regulator begun issuing identity cards to agents in an effort to clean up the sector which has been marred by recent high-profile contractual disputes and cases of fraud. To be truly effective, the scheme will need to be combined with an investment in training and the setting of minimum professional standards which agents must meet to be issued with the cards.
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