Three of the Biggest Myths About Property Portals in Dubai That Need To Be Busted
No, they are not. From the time I started working for Bayut, some of the most common questions and comments I encountered from friends and acquaintances were ‘Which of your agents would you recommend?’ or ‘Your agent sent me an inaccurate listing!’.
I would instantly clarify that Bayut is the advertising platform that agents and agencies use to advertise their listings. This is the pure and simple fact. All the agents are not employed by Bayut, just like Zomato doesn’t own all the restaurants on the app.
Bayut, much like other portals around the world, has a network of agency partners whose agents or listing administrators upload relevant listings on the platform. Hence, it was fairly easy for agencies to add duplicate listings, especially for non-exclusive properties. Not anymore, though.
Up until the new legislation by DLD for properties for sale came into effect, there were limited ways to ensure the authenticity of listings as a portal. As an innovative way to combat this, we introduced TruCheckTM in early 2019, a sophisticated authentication solution where agents need to physically visit a property and confirm its availability.
Now with the new laws coming into effect, we have greater insight into whether an agent/agency is legally permitted to advertise the listing and will be able to monitor the quality of listings in a much more efficient manner. For properties for sale, only three agents will be authorised to list one particular unit, creating a better experience for consumers on the whole.
That The Portal Facilitates the Transaction & Takes the Commissions
Over the last few years, the Dubai real estate market has grown from strength to strength. Prices have been on a steady upward trajectory and there have been many record high transactions of over AED 100 Million.
This has naturally led to the assumption that those working in the Dubai property market, including Bayut & dubizzle are raking in the money via meaty commissions.
Unlike real estate agencies where a commission based structure is common, portals charge advertising fees to agencies and do not actually gain anything post the transactions. Portals also do not facilitate any of the transactions and hence do not enjoy any of the commissions. Bayut & dubizzle function similar to how search engines do; they allow property seekers to search for a property and then connect with the relevant advertising agency or agent.
Just like Google will not be able to do anything if an insurance broker you found online turned out to be fraudulent, property portals are not in control of what happens once you contact an agent or agency. This is the reason why we urge users to be cautious when they connect with agents and look out for things like the TruCheckTM badge or Agent Reviews to ensure they have a safe experience.
That The Portal Controls the Price
All the prices of listings on Bayut & dubizzle are determined by the landlord and the agent. The portal does not control the price. With DLD’s new legislations coming into place, which clarifies that each property can only be priced for a fixed amount and not a range, it has become easier for portals now to determine if the advertised prices are accurate and as per the agreement with the landlord.
If you see fluctuations in the pricing from one portal to another, make sure to check with the agent to understand why something is priced differently.
It’s easy to make snap judgements when we are unaware of the inner workings of an industry or company. The priority at Bayut & dubizzle, has and will always be, to give our users and partners the most seamless search experience.
Bio of Author:
Remya Menon, the Associate Director of Marketing at Bayut, also heads the Editorial department of the company. An ex-journalist with over 10 years of experience in content and consumer marketing, Remya leads a team of content specialists, social media and marketing experts at Bayut, the UAE’s biggest online property platfor
Bayut.com is a pioneering combination of unbeatable UAE real estate database and an extremely user friendly outlook. Bayut.com is not just a UAE property portal; it can be used as a powerful tool to dig out your desired property, an unsurpassed real estate marketing channel for reaching out to millions of customers and a handy guide to assist in your property investment decisions. "Dubai real estate is Big and so is Bayut"