It’s 2022, and we’re going to enter another decade in less than four months; sounds surreal, right? Since time is passing by quickly, we cannot resist it. As time progresses, it would be futile to stay outdated with the old-school practices of the real estate industry. Moving into the dream home is a priority of many, and that’s where the role of real estate agencies steps in.
Now, the question arises whether you should be relying on online property portals or manually connecting with a real estate agency. While the decision appears daunting at first, it’s imperative to consider them wisely.
Shortlisting properties via property portals in Dubai or elsewhere is the new norm. In Contrast, real estate agencies have been on the radar for years. So, what’s workable for you? To end your curiosity, we’ve rounded up a queue of differences that will help you determine the best method.
- Excessive Property Options:
When you connect with a single real estate agency, they ask you to provide your preferable necessities and requirements. It can include size configuration, nearby amenities, and location. Consequently, they’ll bring you a list of properties to choose from.
On the other hand, online property portals showcase plenty of properties at once, with a diverse backup. It also allows filtering developments that suit your pursuit. And so, it’s a win-win situation for online portals.
- Extensive Market Knowledge:
We can’t deny that no one acknowledges the current real estate trends better than an agent working in the field for years. If you’re interested in investing, it’s one of the top reasons for hiring a real estate broker.
Professional ones are competent with all aspects of the housing market, particularly how factors like mortgage interest rates and registration works. That’s something you can achieve with online property portals. Besides getting prospects, these listings can get you to gory market details, which a digital platform rarely familiarizes you with.
- Insights into new Developments:
While a real estate agency mainly focuses on bringing the best properties to your table, online portals provide insights to off-plan projects marketing themselves. You can either become a partner in the development or get a brand-new house with no prior fixtures. There’s also a possibility of contacting the contractors directly, which saves valuable pennies.
- Limited Database:
Most real estate agents have a limited database, so you’re not left with many choices to look in. That’s not the case with online property portals. Since different real estate agencies and sellers are working on a single platform, they all have a diverse horizons to benefit the consumer that opts for their platform. On property portals, you’ve the option to connect directly with the sellers or the real estate agents too.
- No Commission Fee:
Most importantly, visiting online property portals allows you to save on commission, which you’ll ideally pay to the real estate agents. It’s because, often, the sellers put up their properties for sale, and the buyer can directly connect with them.
However, it’s imperative to consult a professional real estate lawyer to avoid mishaps. A real estate agent will review the case by looking into the property status and credentials of the sellers. In some cases, you’ll be coming across registered real estate platforms, so getting away from the commission fee would be challenging.
- Possibility of Negotiations:
Since you can deal directly with the seller, there’s a higher chance of getting discounts. You can negotiate the prices with the seller if you’re purchasing a resale property. The seller may be saving on the commission rate, which he otherwise is paying to the real estate agent, so he might make it up to you. On the contrary, negotiations with a real estate agent are almost implausible since they work on a fixed-amount basis.
Now that you’ve perceived the significant differences between the two, it’s easier to determine their merits and demerits. If you’re rushing to get Dubai property for rent or sale, proceeding with online portals would be wise. Yet, hiring a real estate agency demands patience. In both cases, it’s your call to make, and it’ll be beneficial.