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EWmums

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Real estate agency commission

497

Posts

EW EXPLORER

Latest post on 30 January 2013 - 20:17

Does anyone know who pays the commission when a property is being sold? I have contacted BH to advertise my property and have noticed that they want the seller to pay a commission too? Is that normal ?

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StayAtHomeMum72226

7

Posts

EW NEWBIE

Latest post on 05 February 2013 - 12:29

This negative feedback on agents and the lottery of service is exactly what I hear from everyone which is why we sold our last Dubai property privately for free as I mentioned in an earlier post below. I read somewhere last week that the average villa price in Dubai was around 5m so if the agent charges 4% in total they are earning about 200,000 dirhams which in English is £35,000! For paying someone that amount to provide a service I would expect the most amazing service ever. I mean you can buy a new Porsche in Dubai for that amount so what is so amazing about the agents service and efforts you recommend below that means they deserve this sort of renumeration? It's seriously not complicated to do as I have done it myself. The trouble is most people here just accept the rubbish that is being served as they go with the flow and after a few years are used to being ripped off and even after several years here people still get lost in the monopoly money of dirhams to home currency.

The Original BMAP

245

Posts

EW NEWBIE

Latest post on 05 February 2013 - 09:25

Funny, we used a company called Exclusive Links too and the agent lied by ommission and did a runner when things went wrong. This was for a rental though and I believe the agent has now moved on to another agency. It really is a lottery.

17

Posts

EW NEWBIE

Latest post on 04 February 2013 - 21:40

We used a company called Exclusive Links Real Estate. They are based in Media City. Extremely helpful and very professional. I can get you the agents number we dealt with if you like?

StayAtHomeMum72226

7

Posts

EW NEWBIE

Latest post on 04 February 2013 - 20:14

Hi, I am new to the forum but have lived here 10 years and owned 8 properties in that time so just found this thread. From what I have seen over the years agents all used to charge the buyers 3% and sellers 0% back when it was a sellers market. Then after the crash they turned it around (mostly led by Better Homes) and then tried to charge the sellers 2% or 3% and the buyers 0% as it was now a buyers market. At the moment it's kind of balanced so they are trying 2% to buyers and 2% to sellers but if you push them as the seller you can often avoid the 2% as they are of course keen for your listing so you can get them to 1% or even 0% as a seller. There is no law regarding commissions. We have a few properties for investment and sold our last one ourselves without paying any commission though a website called Flipityourself.com (http://flipityourself.com) who charged nothing. They have all this information on the site explaining how to do it and who to use to help you so there is not much for you to do other than deal with the viewings but then you are saving effectively 4% between buyer and seller so you can be talking a couple of hundred thousand dirhams saved on a typical Arabian Ranches villa which makes it worth the effort. For back up you can still list it with a regular agent on a non exclusive basis and then decide which offer works out best for you.

22

Posts

EW NEWBIE

Latest post on 31 January 2013 - 11:43

Does anyone know who pays the commission when a property is being sold? I have contacted BH to advertise my property and have noticed that they want the seller to pay a commission too? Is that normal ? We bought in AR with House Hunters: i) Both seller and buyer each pays 2% to the agent. ii) Have a read on the property law: 1% transfer fee paid buy seller, 1% transfer fee paid buy buyer (to Dubai Land Department). Good luck.

48

Posts

EW NEWBIE

Latest post on 31 January 2013 - 11:24

my friend who bought an apartment recently recommended this agency to me : MD Express ,she said they are very professional, helpful ,and very nice people ,especially the manager Mr Manhal , his mobile number : +971 50 9801458 you can find agency contact info on their website : mdexpress-dubai dot com .

158

Posts

EW NEWBIE

Latest post on 31 January 2013 - 11:18

Try Gulf Platinum Properties... they are based in Motor City.

993

Posts

EW GURU

Latest post on 31 January 2013 - 09:49

Well, even when there wer eplenty of flats arounds, there were owners/agents having the attitude that they are doing a huge favor on tenants by allowing them to have a roof over their heads

1575

Posts

EW EXPERT

Latest post on 31 January 2013 - 09:07

In any other part of the world, the seller would pay the commission. This is a fee from the seller to the agent for brining in clients, marketing the sale of the house and eventually selling it! On the subject of fees, usually in any other normal country, the owner would also pay the fee to the agency for renting the property. This is standard. However I think things are different here! It's always the other way around and it defys all logis as usual

321

Posts

EW EXPLORER

Latest post on 31 January 2013 - 00:54

I would also like to know of any recommendations in case the sale of our villa falls through.

497

Posts

EW EXPLORER

Latest post on 30 January 2013 - 23:34

Thanks everyone. I also remember being the only one that paid commisions when i purchased this property. It was strange to see that line in the BH agreement . Sandy123, I would love to have the number of the agent that helped your friend, please. I also heard BH are not that good, it was just the first name that came into my head to call. But, from the look of it they are far too complicated to deal with. Any recommendation for agents to contact will be greatly appreciated.

158

Posts

EW NEWBIE

Latest post on 30 January 2013 - 22:33

In any other country, the owner/seller pays the commission. In DXB, it is the reverse (usually)... the buyer/tenant pays any agency fees/commission.

48

Posts

EW NEWBIE

Latest post on 30 January 2013 - 22:25

one more thing .. if i were you i won't hire BH .. i don't know if this forum rules allow me to say the reason ..

48

Posts

EW NEWBIE

Latest post on 30 January 2013 - 22:10

Hello Eli1979 ,my friend just bought a house recently in Dubai and i believe she was the only one who paid the commission 2 % from the apartment full price to the agency ,and she paid the transfer fees another 2 % to Dubai land department ,and she told me that the seller had to pay nothing .. or to be exact he only paid some fees for Dubai property maybe 500 DHS (not sure of the amount ) to issue no objection notification (NOC ) .. if you want i cant give you contact number for the agency that helped her .. she said they were great ..very professional people ,maybe they can advertise your apartment for free ..

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