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Dubai is a growing market where most properties are bought directly from developers. However, as more properties are transacted in the secondary market, the role played by Dubai estate agents is set to increase. Dubai estate agents need to bolster the trust and confidence of investors. It is important, that Dubai estate agents are qualified, regulated and disciplined, particularly in view of the large number of international investors being wooed there. Unlike Dubai estate agents, realtors in the US charge up to seven percent of a sale. This fee is not paid grudgingly because the agent does more than merely introduce a property. He is an expert in valuations and the market, helps in negotiations, and assists with procedures. Dubai estate agents too need to see a transaction through, and in a cost efficient manner.

The Government realizes the importance of raising the bar among Dubai estate agents. RERA, the regulatory authority, has introduced strict measures to mitigate malpractices by Dubai estate agents. Punitive measures that range from warnings to imprisonment have been legislated for improper behaviour by Dubai estate agents.

Moreover, RERA has endeavoured to regularise advertisements released by Dubai estate agents. According to the law, only Dubai estate agents registered with RERA can advertise. Advertisements have to be approved prior to being released. "We cannot let people promise and not deliver in Dubai" said Marwan bin Ghalita, the CEO of RERA. RERA has established a framework to bring transparency between Dubai estate agents and investors. Buyers should now insist that their Dubai estate agents have the required licenses and approvals to operate.

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