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My first year of working in Dubai property
In a sea full of videos from people who are faking it and trying to make it I believe the truth stands and investors and home buyers. Buyers will find more value in the truth rather than young brokers screaming about the commission they made just once.
The single biggest issue I have faced during the year is how long it takes for developers to pay commissions and process relevant important administration forms needed to complete the transfer of the properties. This has not only had a huge knock-on effect on my finances and cash flow but also damaged trust with clients ultimately meaning they lose faith in reinvesting to further properties. Only very understanding and brave clients can wait out the period between transferring the money and obtaining important paperwork. It's important to note that all developers are different and certain developers have much better management teams than others.
It really has been a journey having spent my first full year in Dubai Real Estate, a journey most would fail.
Overall my clients have achieved amazing investments here however the have been some up's and downs for me as a consultant and for them as an investors. Often the downs are when I receive a phone call from an investor who's already started to invest in a developer and have come to find they need my help and I pull them up and resolve and secure an amazing investment.
The world of property is absolutely incredible but it's by no means stress-free.
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