Selling properties, especially in the Middle East region, can be daunting, most especially if you have little to no knowledge and experience in the real estate scene. If you are not adept in this field, you need to know what the selling process ideally looks like.
Step #1: Choose a reliable real estate agency
Since the Middle East, particularly Dubai, is a competitive market, the help of a qualified real estate firm can go a long way. A reputable real estate agency makes sure that the property is sold at the current market price. They will do the advertising, legal work, and the whole process of selling your property.
Step #2: Do Property Valuation
Real estate markets could get volatile, making property valuation more complicated. The real estate firm of your choice will take care of this aspect. They will examine the condition of your property and possibly suggest home improvement projects that could raise the selling price.
Step #3: Present your property
Presentation is important, so even when taking pictures of your property, a good photographer should be in place. The first impressions attract the initial leads, so be sure to secure high-quality photos featuring the best parts of the house. You can hire a photographer yourself to do it all and edit the photos to improve them, or some real estate agencies also cover this part themselves.
Step #4: Do Marketing
There are numerous advertising platforms out there including listing sites, email campaigns, social media, and many more. The more varied these platforms are, the more potential buyers come your way.
Step #5: Expect Multiple Property Viewings
Your chosen real estate agent/company will be the one to accompany interested buyers during the property viewing. This is why it’s important to work with reputable real estate agents or companies that always bring results.
Step 6: Receive offers
After potential buyers come and visit the property, they will send offers, and it’s up to you to choose which one suits you best. Choose an offer that seals the deal and you’re almost there.
Step #7: Agree to sell
The real estate agent will help you through the sales process once a chosen buyer wins the deal. They will help you with the paperwork and the whole processing stage.
Step #8: Process Paperwork
The seller and buyer must secure the documents below:
- NOC or No objection certificate
- Passport copy (Original)
- Title deed (Original)
- Oqood if it’s an off-plan property
- Manager's cheque
- A Memorandum of Understanding
- Other requirements by DLD
Step # 9: Transfer property ownership
This is the final step that involves transferring property ownership to the buyer. The seller, buyer, real estate agent, and mortgage consultant have to meet in the developer’s office or registration trustee office to finalize the payment and the paperwork.
This is how one should deal with real estate property selling. Whether you have apartments for sale in Palm Jumeirah or selling Bluewaters Residences and the like, you need to follow the right process and strategies to bring about the right results.