Business | Property
Better Homes defends property brokers
Real estate agents are not solely responsible for property-related horror stories in Dubai, a top official claimed, saying, clients' expectations of the agent are often "way beyond the role".
- By Robert Ditcham, Staff Reporter
- Published: 00:00 March 1, 2007
Dubai: Real estate agents are not solely responsible for property-related horror stories in Dubai, a top official claimed, saying, clients' expectations of the agent are often "way beyond the role".
Real estate agency Better Homes has leapt to the defence of the property broker industry following Dubai Land Department's move to regulate agents and implement a code of conduct.
Linda Mahoney, CEO at the Dubai-based company admitted that cases of unscrupulous, "fly by night" agents using market conditions to make a fast buck are common. But she defended the actions of genuine, qualified agents operating in Dubai.
"We hear complaints about all companies, including Better Homes, and there are cases where the client is justified and has a right to be angry. But over the years I have come to realise there are always two sides to a story," she said.
"For example, when a seller changes his mind and reneges on a deal at the last minute because he has found someone to pay more, the easiest person to blame is the agent although the situation is completely out of their control."
When the Land Department issued a law earlier this month forcing brokers to register with the Land Department, it was seen as a consumer protection initiative and a bold move against the thousands of freelance brokers operating in the emirate without formal training. Land Department officials said the law would weed out almost half of the agents operating in Dubai.
"There are almost daily complaints over cheating, illegal transactions and unprofessionalism among brokers," said Khamis Mohammad Al Muhairi, head of land valuation and studies centre at Dubai Land Department.
However, Craig Johnson, general manager of Landmark Properties, said the new regulations also spell good news for registered property brokers.
"Once a deal is registered with the Land Department there should be no way for owners who have a change of mind regarding price to retract that price, thereby allowing the broker and buyer to feel more secure in the impending deal," he said.
As well as defending registered brokers, Mahoney called for greater definition over the brokers' role.
"I believe the clients' expectation of the agent and agency is often way beyond the role, which is quite simply to introduce the client to the property and arrange the contract with the landlord, seller or buyer," she said.
"In theory, once a lease has been agreed, the landlord's management takes responsibility until the lease is complete and the tenant moves on. Often the absence of management makes agents the scapegoat for any problems that arise during the tenancy. The agent's role is not management and this should be made clear from the beginning."
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