Being a real estate broker in Dubai - preferably one with all the right contacts - does have its perks. And more are signing up to be one. Image Credit: AFP

Dubai: When it comes to new jobs in Dubai, everyone agrees ecommerce, logistics, digital banks and fintech are where some of the heaviest recruitments are taking place. Of course, airlines have been doing their bit, and retail-facing jobs for candidates with local/regional experience too are in demand.

But don’t forget property – because right now, there are more individuals signing up to be real estate brokers than at any time in the recent past. And the numbers seem to suggest as much. “By the end of August, the number of – registered – brokers topped 10,000 and that’s a staggering 34 per cent increase on same time in 2021,” said Firas Al Msaddi, CEO of fam Properties. “They are split across 2,600 agencies.

“As is happening with property buyers in Dubai, there are a growing number of estate agents from Europe who want to try their hand set selling in Dubai.”

The big – and mid-sized – agencies too have been busy recruiting. Of course, much of this stems from the sustained demand Dubai property – offplan and ready – continue to generate, and in all likelihood set to continue right through year-end.

How much can agents earn?

The market being what it is, someone with three years of selling experience can easily take home Dh50,000-Dh75,000 a month. And those with four years, they should be aiming for anywhere up to Dh200,000 in a good month. 

The good agents will be thinking long term and not just too intent on transactions

- Firas Al Msaddi, CEO of fam Properties

Heavy on incentives

That’s more than enough for brokers, experienced and otherwise, to pursue prospects in Dubai. “Typically, the brokers operate on a no-salary basis, but the commissions on offer are enough to keep them comfortable for a long time,” said a property consultant. “You don’t see to many of them not driving fancy cars.”

A typical deal between an agent and the estate agency would see the agent net between 40-70 per cent from a deal, depending on factors such as the individual’s track record, the areas or the category (luxury or lower) that he or she is specialising in, etc.

Fixed salary?

According to market insiders, no broker would operate on a ‘salary-plus’ basis, even those who are new and trying to get a feel of the market. “Even if someone did have such an agreement with their employer, it’s more than likely they would soon switch to an all-incentive package,” said Al Msaddi. “In real estate brokerage, it’s arcane to be thinking of monthly salaries. The incentives on offer for sales targets met are way too enticing.”