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Hey all!

I'm kinda new to this forum but have been reading for a while now. Here's my situation: I'm currently completing my real estate agent certification here in Canada, and I plan to move to Dubai right after to work as a real estate agent.

I have spoken with several people on other boards and the information I'm getting is only confusing me more. Many have told me that a good agent makes around 60k aed to 80k aed per month, but then I've checked most job offers in that field and havent found anything over 15k aed +commission + benefits. It seems like it's very hard to get accurate info on this field of work.

Can I really expect to make between 45k and 65k monthly in commission? I've also checked the Macdonald and company salary survey that just came out and it states the average for someone in real estates sales/leasing including bonuses is 641,9j aed per annum. Can anyone tell me how reliable this info is?

I currently have a job here in canada that pays me about 200k aed, might not seem like much but the cost of living here is much lower and it is considered a good salary, plus i love that job. I would hate to give up that position for something not worth it financially speaking. Any help would be appreciated!

Khaled

I can't believe not a single person works or is familiar with real estate!

I'm not Familiar with R/E myself. But I dunno how accurate that salary survey is. It should be based on research but to what extent, that's the unknown.

You'd find more info if you can reach an R/E agent inside the UAE. You can try finding someone on ecademy ,internations (those are business networks) or even facebook.

I have no clue against the numbers u mentioned above but it would be nice if they were true ...

P.S. If you need help regarding ecademy or internations PM me..

you will find that a lot of people talk sh*t in dubai when it comes to salaries, especially with something like real estate where commision & bonuses are involved. Given some of the clowns I have dealt with while trying to rent an apartment here, I would be absolutley ed to find out they were earning 60K/month....
if you can get a job for around 25k/month you should be able to live reasonably comfortable here

haha i can certainly tell how you feel, from what I've heard quality of service isn't exactly top notch for real estate agents in Dubai. The Macdonald And Company research I pointed to is a very serious research, the only part I'm not sure is when they say sales/leasing is it residential, commercial, or industrial.

Be prepared to spend more than 50% of your monthly salary on somewhere to live.



Knight

check out www.totallyproperty.com and go to the dubai property link, there are tons of people in the business there who might be able to help you.

Dark Knight: why 50% of my salary on rent? I'll be living with some friends for the first few months (i know its illegal before someone mentions it) A decent full time real estate agent here in Canada makes about 100 000$ a year after marketing expenses, I would doubt someone doing the same job somewhere that housing prices is 3 times more expensive would make less, but correct me if I'm wrong. Maximusprime: Thanx for the info I'll certainly check it out and try to get some feedback!

Pimpin80 wrote:Dark Knight: why 50% of my salary on rent? I'll be living with some friends for the first few months (i know its illegal before someone mentions it) A decent full time real estate agent here in Canada makes about 100 000$ a year after marketing expenses, I would doubt someone doing the same job somewhere that housing prices is 3 times more expensive would make less, but correct me if I'm wrong. Maximusprime: Thanx for the info I'll certainly check it out and try to get some feedback!

OK, so lets say you eventually make 30,000Dhs a month. You want to rent somewhere simple for yourself. Thats 120,000Dhs a year (12,000 a month but you have to pay it all up front or in 2 - 3 post dated cheques)) You could get a 1 bed apartment in International City for 80,000 a year, but you are living on the edge of the universe in an open sewer. There is 5% agency commission on top + 5% municipality fee. There's another 12,000 gone whoosh in a second. 2,000dhs DEWA deposit for your electricity and water. Monthly bills of about 450 - 500Dhs. You want a phone and internet line. Another 300Dhs a month. You have to get to work every day, so you buy a car with a loan. Thats another 2000Dhs a month...

Without the lump sum downpayments, the tally is 14,800Dhs a month...thats close enough to 15K for me!

It all adds up.



Knight

Pimpin80 wrote:Dark Knight: why 50% of my salary on rent? I'll be living with some friends for the first few months (i know its illegal before someone mentions it) A decent full time real estate agent here in Canada makes about 100 000$ a year after marketing expenses, I would doubt someone doing the same job somewhere that housing prices is 3 times more expensive would make less, but correct me if I'm wrong. Maximusprime: Thanx for the info I'll certainly check it out and try to get some feedback!

Are you sure you want to come here at this time, financial crisis, etc. etc. etc.

yea dude, no matter how you swing it its friggin expensive to live here! I think the RE market is still better than in the states but its beginning to look a bit shaky righ now. Talk of no mortgages on completed property etc.

Sage: Your point is valid, and I'd be lying to say that all this is not making me a bit nervous. However, as soon as the economy picks up things should get much better. And worst comes to worst, I'm taking a one year leave from my job so I could always come back to it or else I could work as a real estate agent here in Canada. I just really wanted to try Dubai, I think the potential is still great, immigration is high, demand is still growing a lot for all types of goods, and of course there's the beach and sun (I've lived in Canada all my life and trust me it gets COLD here).
This is all gonna be a great adventure for me, and I hope it turns out positive, I really don't want to come back home to the cold and all!

Dark knight: Your point is also very valid, all those little things add up very quickly, and that's my only concern. From a logic point of view I should stay and work as a real estate agent here in Canada. The market is still strong and the fundamentals are right. But I have already committed myself to the Dubai adventure and at this point I figured I might as well try it out. hopefully these trouble times don't last too long!

Pimpin80 wrote:Dark knight: Your point is also very valid, all those little things add up very quickly, and that's my only concern. From a logic point of view I should stay and work as a real estate agent here in Canada. The market is still strong and the fundamentals are right. But I have already committed myself to the Dubai adventure and at this point I figured I might as well try it out. hopefully these trouble times don't last too long!

Just tighten your belt when you first arrive. There will be many temptations and diversions that will eat into your financial reserves. I daresay your initial salary will not be anywhere near the final goal you are aiming for, so beware or you will end up in the credit trap and up to your eyeballs in debt.

Best of luck!



Knight

Pimpin80 wrote:Sage: Your point is valid, and I'd be lying to say that all this is not making me a bit nervous. However, as soon as the economy picks up things should get much better. And worst comes to worst, I'm taking a one year leave from my job so I could always come back to it or else I could work as a real estate agent here in Canada. I just really wanted to try Dubai, I think the potential is still great, immigration is high, demand is still growing a lot for all types of goods, and of course there's the beach and sun (I've lived in Canada all my life and trust me it gets COLD here).
This is all gonna be a great adventure for me, and I hope it turns out positive, I really don't want to come back home to the cold and all!

Well I wish you the best of luck.

Thanx guys, I realy appreciate the advice. I'm coming over with about 20 000 dirhams and I don't have to pay rent, so hopefully that amount will be enough until I do start making some sales or leases. Ah well I guess I'll just spend more time networking than selling for the first few months!

I hope you are coming here on a year's leave as mentioned earlier? This place is on the edge of a RE disaster. Besides the demand and supply gap expected my next year, the current liquidity issues is going to make a mess of things. There are hundred of speculators waiting to sell out but all the buyers have vanished. Its a catasthrophe coming.

When I first tried to buy and apartment from a well known builder here, I missed all the 'launches'. Everytime they launched a phase it was sold out in days. Now as they launch the 5th phase, I have had 2 emails and almost 4 -5 sales agents from the office almost hounding me to pop in and have a look at the property. One of them even coaxed me into visiting their office by dangling a lucky draw for all visitors.

There are a few hundred desperate home owners biting their nails off!!

DPS: Ya well I'm taking that one year leave from my current employer, and it's sure they'll give it to me because it is included in my work contract, so I'll have a year to see. I understand what you mean about the whole crisis thing, but things will eventually come back up, and i believe that will happen before june 2009. However it will feel good to have a nice safety net just in case...

Dude....dont worry about it! I've just moved here to Dubai from London 3 months ago and work in Real Estate.....our western markets were in much greater turmoil than here in the middle east....yeh i mean here theres a slight blip and hold back cos of the level of uncertainty around the whole world! but it'll soon recover.....by the new year, it should be popping again! Think of it.....even with the whole world in a financial mess, developers here are still announcing the biggest and best of everything (Nakheel announced the development of 1mile building in Dubai - near Ibn Batuta Mall to counter Emaars' Burj Dubai - already the tallest structure in the world). And with the development of the Metro service soon to complete (end 2009), DubaiLand, World Islands, Dubai Waterfront etc etc. This city will be in a position to compete with London, New York, Hong Kong etc etc by 2015 (growth is exceptional).
Yeah the other guys are right rents are very high, but everyone shares. The more you share with, the less you pay......good locations-JLT/Marina/Emirates Hills-Greens/Meadows/Lakes/Bushes whatever!...

In terms of salary + comm......like every sales and RE position, basics of 12k-15k arent the highest......but there is evidence (dare i mention of whom) of people taking home 20k AED to 100k AED a month! depending on how determined/exceptional you are!

Good luck with the job dude! Smash it up for as long as the bubble lasts and take the money back home wit u!