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- What were the main challenges when you started in the UAE?
Since we studied the market well in advance, we didn't have too many difficulties when we began operations. It was brisk and simple. It's different in Dubai from the way businesses are run in London, so we had to match our operations with Dubai's market conditions.
- What's your best property deal in the past year?
We did numerous deals in the last one year. We had a few exclusive properties in Remraam, Dubai Motor City and Jumeirah Village Circle (JVC), which we sold successfully. However, we would specially like to mention a deal where we sold three plots to one of the developers in Dubai.
- How many agents have you hired in the past year?
We have not significantly expanded our agent team in the past year. It was a big challenge to get quality agents as there were many new organisations, who were actively recruiting. As things have settled down, we are now looking to expand our team. We have just hired three agents last month.
- What are your plans at Cityscape Global?
We will promote our project, Dezire Residences in JVC, offering special prices and packages to investors.
- What properties are selling most in the market?
Ready properties are selling fast, however, there are investors who are interested in buying off-plan property from reputed developers.
- What are the biggest mistakes buyers make in the market?
A large number of buyers concentrate on the price of property and disregard other important variables, including the quality of construction, facilities, maintenance fees and the commitment and attitude of the developers towards the venture.
- Are sellers able to attract serious buyers in the present market?
Genuine sellers are able to attract motivated buyers. Sellers, however, need to be realistic when setting a target price and must appoint a specialist agent who knows everything about the property, the project and the area.
- What would you advice the buyers and sellers?
Without a doubt, the present market is perfect for buyers. Price, quality, variety, mortgage rate, rental return and the occupancy levels are all favourable to property buyers. So, it is a good time for buyers to simply select and buy a property.
Property owners who can hold on to their assets, must do so. Just in case they cannot wait, they need to choose a specialist agent and request the agent to properly analyse the market in order to decide on the right price.
- What is your advice to agents struggling to close deals in the market?
Agents need to concentrate on one area or community, gain thorough knowledge and dedicatedly work on any enquiry they get.
- What training is mandatory for new agents?
Every new agent must go for the Real Estate Regulatory Agency training and pass the exam to be licensed to work in Dubai. Along with it, we give a two-day business training. Our training is prepared in-house from our experience and this helps lessen the incubation time.
- What is your greatest strength? What helps you stand out from others?
Our team is our greatest strength. We have an incredible team of agents specialising in different communities and areas. That sets us apart from others.
Bluechip Real Estate
Bluechip Real Estate was established in January 2005 in Dubai as a real estate brokerage registered with the Dubai Land Department (registration number 308). With a strong focus on customer service, the company provides professional real estate brokerage services, portfolio management, project sales and marketing, residential sales and rentals, retail and commercial sales and rentals. Led by Rajesh Soni and Khasim Raza, the company's managing partners, Blue Chip's business philosophy is built upon integrity, prudence, transparency, and adherence to good corporate governance. The duo say their agents have in-depth knowledge of the Dubai real estate market and are trained to act in the best interest of clients.
The company provides complete real estate solutions to diverse clients, whether they are investors looking to build a tower for sale or lease, or be a family looking to rent a house.
''We address major concerns of developers, [providing services] such as comprehensive advertising and marketing strategy, selling or renting out their real estate units and real estate services in accordance with government regulations,'' say the managing partners. ''[For sellers], we provide a list of buyers and investors. For buyers, we provide a huge database of properties, multiple choices and property information packs.''
Did you know that Dubai's residents go where affordable leads them
Source: Jobannie Tabada, Special to Property Weekly