To understand the market, we should look at what is selling
In 2017, the median price per square foot was AED 1,470. The same period this in 2018 records a drop of 12.4 percent to AED 1,308.
2018 has seen the most noteworthy drop in costs since 2013. Anybody that has bought property from 2013 to date, and is in the market to sell, would look do as such at a misfortune. The aftereffect of this is the market looks flat.
The key to sales in 2018 has been realistic pricing
There are a few overrated properties being promoted available, properties that are close difficult to sell in the present atmosphere without a price correction. Realtors ought to advising their customers with respect to the present selling costs, and if the dealer can’t accept this reality they ought to be advised to hold until the market turns around.
The fact of the matter is certain agents basically look for properties to list, in the expectations that they may sell. In certain instances right advice isn’t offered, or they let the customers advise them. A realtor occupation is to know the market and guide customers dependent on true selling costs, not advertised costs. The 1,086 properties that have sold in Dubai Marina so far this year are properties that were valued for the present market. These properties offer sellers and purchasers a good opportunity and maintain the integrity of the market.
Dealers who bought their properties off-plan somewhere in the range of 2006 and 2007 at low costs have enjoyed many years of strong rental returns, and in the present market the sales price they will achieve is still more than what they paid for their investment.
The answer to the question ‘what is selling and why?’ is simple, the properties selling are those which were bought for less than current prices. These sellers also have a realistic understanding of today’s market and are not aiming for the unattainable.
Choosing the correct real estate agent is fundamental to selling
Picking an agent that will go about as a trusted advisor, providing correct market information and overseeing desires, not just telling you what you need to hear, is essential.
Contrary to the trend in Dubai, it is not good practice to list your property for sale with several agents
Doing this adds to the presence of oversupply and can possibly convey on a sense of urgency on the seller’s behalf and work against you by accomplishing a lower price. On the off chance that I saw a property advised with multiple agents, it’s would assume they are in urgent need to sell. Stick to one agent exclusive basis. Commitment is a two-way thing and agents will work harder if they have your property exclusively.
Great realtors will have a solid network of other agents in different organizations that can enable them to sell your property. In this way, being exclusive doesn’t really mean an agent will just sell directly. Agents communicate to their system for your behalf, with the end goal of achieving the sale.
It also important that your agent is a specialist in your specific area
On the off chance that you are selling in Dubai Marina, choose a Marina expert. In like manner, on the off chance that you are selling in Downtown, choose a Downtown specialist. We can’t have some expertise in Dubai all in all!
Guarantee your agent knows it about your property and location before proceeding with them. In the event that they are authorities their network will be broad around there and your property will move quickly.
In summary, the market is selling at correct prices. The problem, however, is artificially priced listings
On the off chance that you bought above current price and don’t have to sell, at that point don’t. Sell if the cost is directly for you. In the event that you need to hold until a potential market move, enjoy rental income on your property until the same is right.
Just you really know your conditions. Your specialist ought to be fair, and not push you to sell or acknowledge low offers. In the event that uncertain, consistently request that your operator back up the source of their information. Specialists approach a plenty of information and sales transactions.
Know the right estimation of your property, pick an area Specialist to support you – and work with them only.