We are Lannhill Real Estate Agency in Dubai and we hope this blog will help you when we look for a flat or another property to buy or rent we have several options for the search and advice on the operation. We can carry out the transaction ourselves or seek expert advice from a real estate agency.
In recent years due to the general economic crisis and the crisis in the real estate sector, in particular, some small real estate agency has disappeared and those who have survived have diversified their services and become more professional.
What is a real estate agency?
A real estate agent may be constituted by a natural or juridical person (company) and is engaged in providing real estate brokerage, advisory and transaction management services such as buying and selling, leasing, swapping, transfer of assets and other real estate transactions. For these services, they charge a fee that will depend on each case.
How a real estate agent can help you
Although many users have some reluctance to seek the help of a real estate agency, it can help us in many ways whether we are owners or whether we are potential renters or buyers:
Search for the property or the appropriate buyer or tenant
If you need to find a flat, a place or an office, a real estate agent can offer you the properties that you have in your portfolio or look for one or more that suits your needs. This is a great time saving because the initial screening is done by the real estate agency and we will visit only the real estate that really matches what we are looking for.
In case you own a property and want to rent it a real estate agency can advertise it through the internet or in the agency itself and look for suitable tenants according to the requirements that you establish.
A real estate agency is obliged to give you all the information about the legal and registration situation that is necessary on the property so that you are clear who is the owner, what characteristics and what charges have, what activities can be developed in it (in the case in That is a local or an office, for example).
Advice on operation
Once you have clear the property you want to buy or rent if you are a possible tenant, or you have chosen the right buyer or lessee if you are the owner, the real estate agent will advise on the operation for the negotiation of the price or rent and the rest of Conditions of the lease or purchase agreement .
Sometimes an investor may need to carry out a market study, for example, to know the feasibility of building, promoting and marketing a residential building, a shopping centre or an office building.In these cases, the real estate agency provides a consulting job that can be of a very different type and always related to real estate.
However, before requesting the services of a real estate agency, whether we are potential buyers or tenants or if we are owners, it is necessary to know what fees they charge.
Generally, in cases of leases, they usually charge a month of rent or a percentage of the annual rent and in cases of sale and purchase a percentage of the purchase price. In order to ensure the collection of fees, it is usual for us to sign a mediation agreement that collects these fees and all the conditions of the real estate brokerage service they are going to provide.