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Buying, selling and renting a home is a long, stressful and expensive experience. Many people looking to save money are looking for ways to cut corners, and even cut out the middleman, and may consider not using a real estate agent when looking to buy/sell/rent.
Real estate agents in the UAE usually charge a standard 5% fee when dealing with property transactions, money that could be saved if you decide to do it yourself. However, there are still plenty of reasons why paying that 5% may still save you money in the long run.
Aspects such as property searches that were once a real estate agent's responsibility have now become the task of the viewer; the Internet makes it easy and accessible for buyers and renters to search for properties online with their desired location and features. However, real estate agents still get listings that some websites will not, and an agent is likely to be able to secure you a viewing more quickly and efficiently than if you had to do so yourself.
While you can search for your own property and arrange your own viewings with the current owner or landlord, this can become a full-time job in itself. While you have work or family commitments to take care of, an estate agent will be solely focused on finding you your new home. A real estate agent should also have good knowledge of the area and may have already viewed the property and can advise you more on which listings are worth viewing.
Once you have managed to find a property that you love, the next stage of the process is agreeing on a price, a stage at which a real estate agent can prove invaluable. An agent should have a lot more knowledge about the market, its trends as well as information about the property that can ensure you get the best price for your new home.
Finally, once you have agreed on the price, there is still a lot to do before you are handed the keys. A real estate agent will be able to get the paperwork completed quickly and efficiently, and get you into your new home as soon as possible.
• Real estate agents can secure more viewings than when you do it yourself
• They also have more knowledge and information about current market trends
• Real estate agents in the country usually charge a standard fee of 5 percent
Source: Nicholas Baker, Special to Properties
The writer is a freelancer