7 Costly Mistakes To Avoid When Selling a Property in Dubai

Did you know that according to the Dubai Land Department DLD Report 2023, properties listed above market value take 3 times longer to sell?

Poorly staged homes get 35% fewer offers than properly staged ones. Incomplete paperwork fans the fire while hidden fees of those quick sales become an additional headache.

Knowledge is power. Going over the list of mistakes to avoid when selling a property in Dubai can bring a better outcome in property sales.

In this article, we are covering the 7 deadliest mistakes that Dubai property sellers make and how you can avoid them. It will lead to secure fast yet fair deals without stress.

At the end of the blog, we will let you know about a secret to selling your property fast – on cash! (A massive deal waiting)

Ready to sell smarter—not harder? Let’s begin.

1. Overpricing is The First Mistake To Avoid When Selling a Property In Dubai

Dubai’s real estate market is no doubt dynamic and evolving. It gives a concrete illusion that you can sell your property at a far higher sale price. In fact, things actually don’t work like that. Investors who come to Dubai to badge higher profits from their business or property investments have a detailed knowledge of the economic situation.

Researching Current Market Trends

Overpricing your property never makes it lucrative. It is necessary to evaluate current market analysis or trends to analyze the prices of properties in Dubai.

Work along with some reputable real estate agencies who give you a fair price for your property. They are there to educate you on what the maximum and minimum price range for your property can be. Some of them also take the whole selling load off your shoulders and give you a fair price for the property you want to sell.

2. Neglecting Property Presentation (One of the deadliest mistakes)

What is seen is sold

One of the most common and repeated mistakes that property owners make is neglecting the presentation of their home, office, or any real estate.

First impressions always set the tone for anyone. Generally, homeowners do not focus on the presentation of their property with the logic that the worth of their home does not depend on these physical attributes.

But it proves a big mistake in the long run. Presenting your property means you have to focus on the following.

• Decluttering
• Repairs & Maintenance
• Improve General Appeal

A well-maintained and clean property with its best features highlighted attracts potential buyers. Renovations, both minor and major, increase your property’s value, and the landscaping of outer gardens or pathways also adds a calming effect on prospective buyers.

3. Poor Marketing Strategy (Not Using Effective Marketing Strategies)

Living in this digitalized era, and if you do not use this effective marketing trick, what world are you in?

People make this mistake and regret it later. But you don’t have to be! Fix it.

Virtual Is The New Reality

Using a virtual reality tour of the property gives your prospective buyer a chance to see the property beforehand. Since Dubai’s real estate market is lucrative with investors coming from almost all parts of the world, having a VR tour presents your property have eyeballs from all over the world – increasing the chances of selling.

Photos and Videos Speak Louder

The use of social media has already won over other marketing platforms. The property market in Dubai uses the power of social media to reach its target audience. Leverage the use of eye-catching videos and photos of your property on all social media channels including Facebook, marketplace, Instagram, LinkedIn or X.

Create Optimized Property Listings

You need to leverage AI tools to create optimized listings for your property where you mention its key features and market them to the right buyers.

4. Hiring a Wrong Real Estate Agent ( The Riskiest Mistake While Selling Your Property)

Trust shapes the world, but blind trust is risky. People often fall prey to undue trust they have in seemingly reliable property agents.

We know Dubai is all bling, often homeowners are trapped in the so-called famous real estate agents who show their fake profiles with successful sale deals. You need to keep an eye out for such fake agents in the Dubai property market.

Selling property that you have bought from your long-life savings may never go unrewarded. Here is a checklist to know if your real estate agent is trustworthy or not.

Check RERA License

Dubai-based real estate agents must have a legal e-license issued by RERA that verifies all property dealers. You can ask your agent to show the license and cross-verify it from the official site.

Better safe than sorry.

Unrealistic High Prices Are A Big Red Flag

If a property dealer gives you an unrealistic price for your property even though you know your property doesn’t have such a high rate, assume it as a BIG red flag. Stay away from such real estate agents.

No Transparency in Agent Fee

All agents must have a fixed agency fee involved in the property sale. If the agent you are working through beats around the bush and does not give a set agent percentage or fee, beware they are going to charge a hefty amount upon closing the deal.

Steer clear of all necessary paperwork regarding the fees involved.

Lacking Local Expertise

You may find many agents who are selling property in Dubai and may show themselves as solid international property agents. Stay aside, a red flag is incoming.

Any property agent who lacks local expertise may not sell your property at a good price.

5. Legal Oversight and Documentation Errors ( An Illegal Mistake)

Most of the property owners who stay vigilant of above all mistakes, somehow do not have the right legal knowledge or may be too novice in it.

They often oversee the legal aspects of buying or selling property and often do not even know the rules for a successful sale. You can check the VAT rate if any applied to your property from the official document at the official Federal Tax Authority Site.

You must know that there is a 4% DLD fee involved while selling property in Dubai. Check out the official DLD site mentioned above for all details.

6. Ignoring Buyer’s Negotiation Trends

You might have heard “Do in Rome as Romans do”. It does not only stay true for Rome, it applies to each location. Dubai’s real estate market has its persona where you need to create a negotiation with buyers who come for a quick fast cash deal.

One thing that makes Dubai’s real estate market unique is the presence of seller and buyer market cycles. When the market is favorable for the buyers, sellers must negotiate cash offers. Sticking to a pre-set mindset of a fixed price may cause your property to not get a sale.

Such a cyclic property market makes Dubai a challenging place to sell your property at the price you want. Keeping a vigilant eye to reach potential buyers will make you omit this buyer’s negotiation mistake.

7. Failing To Adopt To Dubai’s Evolving Market Shifts

Dubai is tremendously growing, with a 429 billion gross GDP, and its market keeps on changing. We can’t just rely on the old data or analysis to track market shifts.

Sellers must ensure they have conducted deep market research on the property demand and supply so they can be aware of their standing in such a competitive and evolving real estate market.

Learning and knowing about these mistakes to avoid when selling your property in Dubai leads you to get a profitable deal.

Tips For Successful Selling of Property In Dubai

Going through the 7 mistakes, we have learnt plenty about the real estate market in Dubai with all its rules and regulatory requirements. We have given you the official sites to get a reference during the selling process so you can land potential buyers to get a successful sale.

Here are the final tips to ensure you have a smooth selling process targeting those interested buyers.

• Work on the outlook of the property, repairing, and doing the necessary maintenance may do the trick.
• Set a realistic price, not too low buyers may find it fake, not too high, and buyers totally ignore it.
• Use professional photography, use social media, and leverage all platforms to market your property sale.
• Paperwork is necessary in all legal deals, ensure you have all your documents sorted so there is no delay in the deal.
• Stay updated on the Dubai market trends and analysis and the rules of the governing bodies.

Get Your Property Sold Within 48 Hours (The Secret Tip)

Lastly, if you want to sell your property quickly for fast cash, you can utilize the “We buy your property Dubai” service to get a hassle-free, profitable deal for your property. Selling your property through Express Sale Dubai lets you get to a quick cash investor within 48 hours. You have a swift selling process where you only need one week to sell your property quickly.

When you get to find such pleasing offers, you are in safe hands because you do not need to worry about the legal aspects of documentation or getting your property listed on bigger market platforms.