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New app lists top brokers

21.06.2015
New app lists top brokers
The new app not only provides confirmation of their status, but also ranks the top 100 brokers, although this is based on the number of transactions rather than user ratings.

Dubai has now rolled out a new app, ranking the top brokers working in the emirate.

According to The National, this is an attempt to boost transparency and prevent fraud. It means that buyers and sellers of property can check that property brokers are registered, as well as how many deals they have closed.

The Dubai Land Department (DLD) revealed details of the new app that provides details of all registered property brokers working in the emirate. Dubai Brokers can be downloaded both through Apple’s App Store and Google’s Play Store.

The DLD’s director-general, Sultan bin Mejren, said that brokers were an important link between property buyers and developers. The new app not only provides confirmation of their status, but also ranks the top 100 brokers, although this is based on the number of transactions rather than user ratings.

There are currently 1,050 brokerage firms registered with Dubai’s Real Estate Regulatory Agency (Rera) and 2,154 individuals.

The top-ranked broker was Heather Tait of Espace Real Estate, who has completed 242 deals since she was initially registered as a broker with the Dubai Land Department in September 2009.

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Lease process (Rent out)
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership
Ad placement

1 day

Ad placement:
  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.
Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the seller:

None

Additional services:

Property management

Lease process (Rent)
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.
Real estate search.

Up to 5 days

Real estate search.

Selection of optimal options.

Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the lessee:

-5% agency commission of the annual contract price

Additional services:

None

Purchase process
Contract of the tenant and agency.

1 hour

Contract of the tenant and agency.
Property Selection

~ 2 weeks secondary

~ 3 weeks new building

Property Selection

Selection of optimal options

Registration of the contract of purchase / sale

1 Week

Registration of the contract of purchase / sale
Customer charges:
  • 2% from purchase at transaction
  • 4% - registration of the transaction at registration
Additional services:

Property management

Sales Process
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership
Ad placement

1 day

Ad placement:
  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.
Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the seller:

None

Additional services:

None

the management process
Contract of the owner and agency

1 hour

Contract of the owner and agency
Rendering of management services

1 year

Rendering of management services
Reporting

1 day

Reporting
Expenses of the owner:

5% of the annual rental price

Additional services:

None

Investment Process
Contract of the tenant and agency.

1 hour

Contract of the tenant and agency.
Selection of optimal investment options

From 3 days

Selection of optimal investment options
Registration of the contract of purchase / sale

1 Week

Registration of the contract of purchase / sale
Expenses of the investor:
  • 2% when investing in the secondary market
  • 0% when investing in a new building
  • 4% - registration
Additional services:

Property management