The real estate circus in Dubai (Rant)

Let me begin by saying that I don’t mean to disrespect agents who are providing true value to their clients. In fact, I deeply respect those professionals who uphold the real role of real estate agents – which is to give value and sell less. Unfortunately, Dubai’s real estate scene has turned into a chaotic circus, and I can’t help but vent my frustration as an intermediate in the industry.

The Proliferation of “Real Estate Experts”

It’s no secret that today, practically every individual you meet claims to be a real estate expert. People from all walks of life suddenly think they can become property moguls. The allure of easy money or witnessing someone else’s success has misled many into believing they can do it too.

A Copycat Culture

What’s worse is the copycat culture that has permeated the industry. Instagram reels and TikToks are bombarded with cringe-worthy, baseless content, often featuring catchy titles like “Don’t Buy This, Buy That.” These so-called agents act less like professionals and more like clowns, focusing on entertainment rather than education.

Delusions of Grandeur

Many agents in Dubai seem to believe that investors are tuning in to their content to make life-changing decisions. While there is a grain of truth to this, it’s only partially accurate. Investors are looking for value, not gimmicks.

The Value of Value-Driven Content

I’m not against the use of platforms like Instagram and TikTok for real estate content. However, the content needs to be value-driven. It’s disheartening to see Instagram influencers with no real knowledge about properties suddenly posing as agents.

Snake Oil Salesmen

The industry is riddled with individuals who, frankly, act like snake oil salesmen. Some don’t even know the full form of ROI (Return on Investment), yet they eagerly post reels about luxurious villas in Palm Jabal Ali. Wearing fancy suits, watches, and shades doesn’t make you an agent; it’s your knowledge and the ability to provide value to your clients that truly matter.

I’d Never Meet These Wannabe Agents

If I ever choose to invest in a property in Dubai, or anywhere else for that matter, I’d avoid these wannabe agents like the plague. It’s both amusing and disheartening to discover that the majority of them aren’t even licensed brokers.

The Get-Rich-Quick Mentality

Many individuals join the industry with a “get rich quick” mentality. They fail to understand that success in real estate requires time, effort, and dedication. Few take the time to acquire knowledge, study market trends, or understand the hot areas for investment.

It’s a Numbers Game

For intelligent investors, it’s a numbers game. They’re not just looking to buy properties; they want to scale their investments. Sadly, most agents don’t even grasp the basics of what they’re talking about. It’s as if they’ve never heard of terms like cap rate or cash flow analysis.

Ignoring Available Data

In today’s digital age, data and information about the market are openly available and often free to use. Yet, these agents seem blissfully unaware of such valuable resources. They rely more on guesswork and personal opinions than actual data.

Training Snake Oil Salesmen

Big companies in Dubai often claim to train their agents, but it seems like they’re just producing commission-based snake oil salesmen. The emphasis should be on training agents to sell without actually selling – to be more value-driven.

In conclusion, the Dubai real estate scene is in dire need of a reality check. The overabundance of self-proclaimed experts, a culture of imitation, and a lack of genuine knowledge plague the industry. It’s time for a transformation. Real estate agents must return to their true role – to provide value, not just hype. Companies should prioritize training their agents in the art of selling without selling, making value the core of their practice. It’s only through these changes that the Dubai real estate industry can regain its credibility and become a trusted source of guidance for investors.