How to quickly sell property in Dubai

With a vast and dynamic real estate market, finding the right buyer and getting the best deal for your Dubai property can be daunting. But, there are several tips that can help you sell your property in no time. This post provides a guide to selling property in Dubai quickly, whether you're a first-time seller or an experienced investor. 

1 - Get an accurate valuation of your property

Once you have made the decision to sell your property, the first step is to invite two or three leading agencies to value your property. This should always be an in-person appraisal of the property so the agent can assess the location, condition and any upgrades to the property. The agent should also demonstrate knowledge and experience working within your community and have comparable evidence of similar properties that have recently sold and the price they were sold for.

2 - Choose the right agent for you

When the agents visit you to conduct the valuation, ask them how they plan to achieve a quick sale whilst still getting the best price for you. You will be able to tell which agent is the most active from their comparable evidence and also by checking their online presence. You need to be able to trust the agent you are working with as you will be working closely together to sell the property.

3 - Prepare your property for sale

Buyers will typically view lots of properties before deciding to commit to a purchase. This means that it's crucial to ensure your property stands out from the crowd and sticks. This can often be done very easily without spending too much money, by making a few quick changes. If the property is vacant make sure it has been deep cleaned and freshly painted before the marketing begins. If you are living in the property make sure it is tidy, smells fresh and has lots of natural light pouring in.

4 - Prepare your documents to avoid delays

You should speak to your chosen agent to confirm what documents you will require and have them ready to go to ensure a quick sale. If you have made any significant upgrades to the property, you need to make sure you have all the correct NOCs (no objection certificates) in place from the relevant authorities. These will be required to complete the transaction to sell your property in Dubai. If they are not in place, it can cause long delays. If you don't have a mortgage against the property, make sure you have the original title deed in your possession, a copy will not suffice when completing the transfer. If you have lost the original title deed, the process to replace it will take about one month.

5 - Agree on a marketing and pricing strategy with your agent

If you are looking to sell property in Dubai quickly, then the launch to the market must be done correctly. Professional photos are an absolute must, as well as a video and a well-written property description. Your agent should know the amount that similar properties have sold for recently, and the listing price for your property should be at that price or a maximum of 5% higher to allow for negotiations. Before your property is marketed online, the agent should have a ready bank of potential buyers who have registered their details and whose requirements match your property. They should all be contacted and invited to a pre-launch open house event. 

6 - Prepare for viewings

Agents work very hard to sell any property in Dubai, often working outside of business hours. They often carry out viewings in the early morning, late evening and over the weekend. In order to make a quick sale, it is important that your property is available to view at ease during different times of the day and that it always looks presentable, clean and tidy. The front of your property including the entrance areas or front garden should also be presentable and inviting. The agent should arrive slightly earlier than the client and make sure that all of the curtains or blinds are open and the lights are turned on to create a welcoming environment from the moment the client arrives.

7 - Remember the market knows best

Even when looking at comparable evidence, valuing a property is not an exact science and the market will always dictate the true value of the property. The value can change based on many different factors. If after 10 days on the market, you have not received an offer for your property or agreed on a sale, you should work with your agent to reduce the price to a level that will attract more interest. As a guide, this should be a reduction of at least 5%. The alternative to reducing the price would be to spend some money on upgrading the property. However, since you are aiming to make a quick sale, this may not be appropriate as the upgrades will prolong the time needed to complete the sale.

8 - Consider your offers

When an offer is made on the property there are a few elements that need to be considered. The most important is the price being offered. However, a close second is the buyer’s buying position. Are they buying with cash? If so, is the cash available now, or do they need to raise it? If they are buying with a mortgage, have they already started the mortgage process and have they been pre-approved? When time is of the essence, it is important for you to fully understand the buyer’s time scales for completion.

9 - Enlist a professional conveyancing company

Once your agent has completed his main objective of securing a buyer for your property, the next vital step is to appoint a professional conveyancing service to manage the process from signing the contracts until completing the transfer. The rules, regulations, and processes are forever changing in Dubai, so it is vital for you to enlist a professional company that is experienced, knowledgeable and will save you time and money by guiding you through the relevant processes. Most reputable agents will work with and be able to recommend their chosen conveyancing company that they trust.

Need to sell within a week?

All of the information above outlines the key steps that will help to put you in a position to secure the best price even when aiming to achieve the sale quickly. However, sometimes you might happen to find yourself in a position of emergency where you need to sell your property within an even shorter period. In these circumstances, even when the market is tough, there are always going to be cash investors looking to pick up good investments. If you get in touch with the leading agencies, they will be working with these kinds of investors and should know who will snap the property up at below-market price within a shorter window of time.

Learning how to sell your property in Dubai is easy with our help! If you would like any further advice or if you would like to list your property with us, please contact us.