In a competitive career as a real estate agent, setting expectations is crucial. Real estate agents face extremely high competition, from other agents, developers, and third parties. It can seem daunting, as there is high turnover in the industry. Also, it may take agents months before earning their first paycheck, which is not sustainable for many individuals. With federal regulations becoming increasingly stringent due to owner complaints, it's now more challenging than ever for real estate agents to build a reputation and secure business. What can be done to address these obstacles and pave the way for success?
Addressing Agent Requirements
To become a certified agent in Dubai, applicants must pass the Real Estate Regulatory Agency (RERA) exam. While agency training is provided, many agents find themselves unprepared for the realities of the field and quit within their first few months.
To address this issue, we propose a more comprehensive training program under the RERA. This training should include classroom instruction, practical exercises, tests, and exams to ensure agents are equipped with the necessary skills and knowledge before entering the market. By increasing the entry requirements, we can reduce turnover and improve the overall quality of service provided to clients.
Ensuring Listing Exclusivity
Real estate agents invest significant time, effort, and money into securing property listings. However, their efforts can often be undermined when properties are sold by other agents, leading to a sense of frustration and burnout.
To address this issue, we recommend making exclusivity on listings mandatory. This will incentivize top agents to focus on exclusive properties, leading to higher-quality online listings and more dedicated agent efforts. By requiring owners to choose agents based on their experience, reviews, and area expertise, we can create a more competitive environment where agents must prove their worth.
Promoting Cooperation and Ethics
A common challenge within the real estate industry is a lack of cooperation among agents. Ethical lapses, such as acting in self-interest at the expense of colleagues, can erode trust and hinder collaboration.
To foster a more cooperative and ethical environment, agents should be obligated to work together transparently and professionally. Violations of these rules should result in strict disciplinary measures, including fines or license suspension. By promoting cooperation and ethical behavior, we can create a more positive and supportive environment for agents to thrive.
fäm Properties' Commitment to Excellence
At fäm Properties, we have taken a proactive approach to addressing these industry challenges by establishing a culture of integrity and transparency. These values not only guide our interactions with clients but also foster a collaborative environment among our agents. By recognizing agents as valuable resources rather than competitors, we aim to create a more supportive and fulfilling workplace.
If you are interested in learning more about our commitment to excellence and joining our team, visit fäm Properties careers page for more information.