With Dubai’s ever-growing property market continuing to break records and remaining extremely buoyant, the real estate sector is on a massive recruitment drive to bring more agents on board. But what does it take to make a good real estate agent, and how can companies ensure they hire the right people?
2023 is set to be the busiest year for residential real estate in Dubai since records began. There were almost 83,000 transactions from January to September this year, according to Property Monitor. That’s an increase of 64% compared to the same period in 2022 and a whopping 125% uptick on 2021. Of the sales so far this year, more than half (52%) are for off plan properties.
Average monthly transactions are outstripping any previously recorded figures, too. So far this year, the busiest month was March, with more than 11,100 sales, closely followed by August – traditionally one of the quieter months of the year – with just under 11,000.
Year on year, figures for the first nine months show an increase of over 87% in 2021 compared to 2020, a further jump of 64% in 2022 and a 37% uptick this year.
But it’s not only buyers who are keeping the market so alive; the rental market is booming, too. While thousands of residents have taken the plunge and purchased their own home, many more continue to lease a villa or apartment.
Nearly 90,000 people moved to the emirate between July 2022 and July 2023, with 50,000 arriving between January and July this year, according to the Dubai Statistics Centre. Dubai’s population now stands at 3.6 million. These people all need somewhere to live, be it in their own home or a property they choose to lease.
We are seeing increased activity across all of our service lines, which include residential and commercial sales and leasing, building consultancy and project management; property management; short term leasing/holiday homes, consulting and research and valuation services.
With this growth comes the need for more real estate agents. Under a recently launched recruitment campaign for real estate agents, there has been an aim to triple the number of residential and commercial agents, with 50 new people on board by the end of this year. And, through our outreach campaigns and careful selection processes, we are on track to meet our targets.
From our experience we believe that the below are the most important factors when driving a recruitment campaign for real estate agents: