Dubai Property Sales - What are the benefits of multiple listings?
Dubai Property Sales - If you choose the right agency to promote and market your property at the right price you will have little need to promote your property with multiple Agencies. Multiple listings can actually have a greater negative affect and can often outweigh any benefits.
Multi agent listings creates a false sense of the quantity of properties available for sale which can influence the statistics reporting the current market climate. If the same properties are listed many times then it creates a larger supply than what is currently available and this will impact the sale value.
Whether you are a Seller or a Buyer our suggestion is to select the right agency to represent you
Furthermore discrepancies with marketing prices can reduce the interest and offers. In the event a potential Buyer is offered the same property through various Agencies and for different prices the genuine value of the property comes into question.
You may get multiple Agents contacting you about Buyer interest and you may consider the demand stronger than it actually is as often the same Buyer is shopping around with different Agencies and this may also produce a negative result.
Whether you are a Seller or a Buyer our suggestion is to select the right agency to represent you and help you transact the sale or purchase in the agreed time frame before involving multiple Agencies. Currently there are no advance retainer charges applied to the Seller or Buyers as commission is only payable on successful completion of a property transaction but we do feel if this system was ever adopted in Dubai this would curb the multiple listings and help mature and support the real estate market.
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