Introduction:
When you're looking for a real estate agent in Dubai, you want to make sure the person who is representing your interests gets a good commission. If you want to know how much an agent makes in Dubai, I've put together a couple of different scenarios. These comparisons will help you determine whether or not they deserve your business.
Over the past decade, the cost of living in Dubai has risen faster than in any other city in the world. While this has been great news for ex-pats moving from higher-cost countries, it's been tough on local residents who have seen their income shrink due to the higher prices of housing and services.
How much a real estate agent earns in Dubai?
Real estate agents in Dubai are paid according to their experience and the size of their business. The bigger the deal, the more money an agent earns.
Typically, a real estate agent can expect to earn between AED 10,000 and AED 30,000 per month depending on their experience and the size of their company.
A good agent can also earn commission from other sources such as selling property overseas or from clients who want to sell their property before moving to Dubai.
Real estate agents in Dubai are paid a commission of around 6% of the sale price. In other words, if the property sells for Dh20 million then the agent will earn Dh1.6 million as his commission.
There are also other fees such as legal fees and notary fees that can be taken into consideration when calculating your total earnings as an agent.
Real estate agents in Dubai make a living by selling property and helping buyers find the homes they want. The average salary for real estate agents in Dubai is Dhs1,000 ($250) per day, according to the Bureau of Labor Statistics. In addition to their paycheck, most agents also receive commissions on their sales and bonuses based on how much they sell.
The real estate agent will earn a commission of 5% to 7.5% of the sales price. In addition, they will receive a commission for any services they provide such as preparing legal documents and preparing the property for sale.
Conclusion:
If you are able to make a sale, the commission an agent receives (10-15% on average) is the single most profitable thing an agent does. How much do real estate agents make in Dubai? Agents who sell properties for over AED three million can expect to be paid up to around AED 3-4 per square foot. It is important to understand that this isn't just the property price, but also its specifications like the number of bedrooms, bathrooms, and other facilities.
Real estate agents cost a lot in terms of commission, but you should be aware that the commission is divided between the seller and buyer. Therefore, in most cases, you will have to pay less for the property than it is listed for, as the real estate agent will take a part of the profit for themselves. However, if you are trying to get rid of your old property via an auction then there is no such negotiation involved and therefore you will have to agree on a single price with the buyer and then negotiate with the brokerage company over the real estate agent fees.
