Gulf News

Required: Empathetic real estate agents who are market experts

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In an evolving real estate market, what do buyers and sellers want? According to Matthew Bate, managing director at The Urban Nest buyers now pay more attention to who they buy from. “Empathetic real estate agents who take time to understand a buyer’s needs are preferred. Irrespecti­ve of nationalit­y, investors want an agent who is a true market expert, able to provide transparen­t and accurate intelligen­ce that will assist in driving sustainabl­e investment strategies. As the Dubai real estate sector matures, it becomes more complicate­d to navigate, creating a need for investment advisors who can execute tailored investment plans, across a diverse portfolio of ready and off- plan properties,” he explains.

He also points out that sellers are often ignored in the market. But after the rollercoas­ter ride of 2020, sellers are looking for a brokerage partner who appreciate­s that selling a property is a major life event, and understand­s the significan­ce it has for their livelihood­s. “Like in many other industries, companies that can provide a more responsive, personalis­ed service are attracting client interest.”

According to the JLL’s “UAE 2020 Year in Review” report, the pent- up demand in the market, supported by government legislatio­n, will shape real estate recovery in 2021. “While uncertaint­y will persist this year and the recoverywi­ll vary across sectors and industries, accelerati­ng digital capabiliti­es and focusing on sustainabl­e performanc­e can redefine business success,” says Dana Salbak, head of research, Mena, at JLL. “While we are yet to claim we are out of the woods confidentl­y, the UAE has once again proven its resilience, growth, competitiv­eness and liveabilit­y,” she says.

According to Bate, “Government support initiative­s have helped to soften the economic

and social impact of the pandemic. This year, more foreign investors will choose Dubai as a preferred investment hub, as well as a place to call home. Interest will come from traditiona­l markets, alongside the new Israeli market which has opened up. Everyone wants to see how the marketwill unfold but the current climate makes it extremely difficult to predict with any real certainty. Instead, now is the time to focus on the changing client needs, which are ultimately crucial to the speed of recovery.”

 ??  ?? Matthew Bate, managing director, The Urban Nest
Matthew Bate, managing director, The Urban Nest

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