Difference Between a Property Developer and a Property Agent
In the UAE, people can buy property from a property developer or agent. This depends on the property and personal preference but is an option that might be unfamiliar to those in countries where such a choice doesn’t exist.
Property developers oversee the sale of new properties, which includes new properties currently being built and completed properties. This is known as the primary market.
Property agents typically oversee the sale of sub-sale properties with pre-existing owners. This is known as the secondary market.
But what is the difference between property developers and property agents? Simply put, a property developer puts forward the cash to fund the construction of new properties. They aid with the coordination arrangement and the improvement of the property. They accept all the danger.
Once a property has reached a point where it can be traded, a property agent showcases the property. They work with the inclusion of invested individuals. Developers and agents have separate obligations, but each plays a significant role in land and property life expectancies.
Benefits of Buying from a Property Developer
Now that we know the difference between a property developer and a property agent, let’s discuss the benefits of both. We’ll start with the help of buying from a property developer:
- Easy on the Wallet
- Peace of Mind
By choosing a developer, you’ll likely be purchasing a new property. Because the property has just been built, it’ll probably require far less maintenance over the next few years. And if anything goes wrong, many things are covered by guarantees, so your costs shouldn’t be too high.
You’ll have to do few, if any, renovations, often required of older properties. You’ll likely enter at the cheapest point, as properties seldom fall below their initial asking price.
Property developers often offer generous discounts and waivers on many of the associated fees to entice more buyers. This includes stamp duty, legal costs, and loan agreements. You might even be offered a freebie or two to sweeten the pot, such as built-in cabinets or air conditioning units.
As stated above, many new properties are covered by guarantees against defects. If anything goes wrong, you have peace of mind that it’ll be fixed at no cost. The developer will rectify minor and major issues, such as pipe leakages and cracks in the wall or ceiling.
Benefits of Buying from a Property Agent
Next, let’s talk about the benefits of buying a property from a property agent. These benefits include:
- Variety of Choices
- Detail-Oriented Service
- Seamless Closing
Buying from a property agent gives you a much broader choice of options. They often have properties in locations you might not have considered. And they can offer properties of all types, sizes, ages, conditions, etc. They can also assist you in shortlisting your options and helping you pick the property that’s right for you.
Agents possess impeccable knowledge of the local area and property market. They tailor the service they offer to each customer, ensuring that you secure the right property that meets all your needs.
Buying a property involves much legwork, from negotiating fees to contract amendments, repair requests, and understanding the complexities of procedures. A good property agent will care for all this, including detailing estimated timelines. They’ll work tirelessly to ensure every detail is accounted for and you enjoy a stress-free experience.
It is in their best interest to ensure that both parties are wholly satisfied as this goes towards them securing their commission and maybe even a referral.
Lastly, they ensure a seamless closing, helping buyers to navigate the many pitfalls that can easily ensnare them. They know what to look out for and how to resolve myriad issues. They’ll go over important details, such as the title, ensuring a nasty surprise does not catch you off guard.
Things to Consider When Buying from a Developer or an Agent
Of course, there are always things to consider when buying from developers and agents, such as:
- Background Checks
Reputation is essential when choosing a developer or agent. Check their track record to see if their past efforts align with their promises. It’s also a good idea to seek recommendations and reviews. Try speaking to friends and family; check out independent review sites if all else fails.
You can research other developments created by the developer to see how those developments panned out. Once again, review sites are a good resource here. You can review estimated completion timelines, artistry standards, whether there is a history of disputes, etc. These can all give you a good understanding of whether a developer can be trusted.
The same approach can be used with property agents. A quick search online is often all it takes to verify an agency’s reputation and capabilities.
Any developer or agent worth their salt can produce industry certifications. These demonstrate their compliance with the industry’s highest quality and ethical standards. To obtain and maintain these certifications, developers and agents must work hard and pass many requirements. Any developer or agent that cannot or refuses to provide proof of credentials upon request should be viewed with suspicion.
Many people have fallen victim to unscrupulous developers and agents over the years. These people weren’t whom they claimed to be and ended up scamming their victims out of their hard-earned money. Scams often range from promising up-and-coming projects only for these projects to be abandoned or severely delayed to scammers posing as property agents.
To avoid being a victim, ensure you understand your rights, carefully research a developer or agent before deciding, and consult with trustworthy sources. Always be sure before you sign on the dotted line. And if it feels too good to be true, it likely is.
So, Property Agents or Developers – Which is Better?
The short answer is that one isn’t necessarily better than the other; it depends on your requirements and preferences. If you’d eyeing a new build, like the idea of a cheaper entry point, discounts, and freebies, and want the security of new build guarantees, then a developer is the logical choice.
However, if you want more choice, a tailored service, and help with buying and selling, go for an agent. Agents benefit first-time buyers or those who aren’t confident when buying and selling.
Why Choose Island Falcon Real Estate?
Now that you understand the role of developers and agents let’s talk about why you should buy and sell with Island Falcon Real Estate. IFRE was founded in 2008, and for the last 14 years, we’ve assisted countless clients in finding their perfect home in the UAE. And we’ve helped just as many to sell their homes, too. We offer a comprehensive range of residential and commercial services.
Part of our approach is to forge strong relationships with our clients built on mutual respect. We seek to understand what our clients are looking for, then leverage our expert knowledge to deliver results that fulfill their requirements and leave them wholly satisfied. We boast an exceptional team of experienced, knowledgeable property specialists who provide far-reaching property management solutions.
With so many options to buy or rent across the UAE, you’re sure to find what you’re looking for with Island Falcon Real Estate. And thanks to our partnership with various UAE banks, we can offer financial consultations and mortgage services, saving you time looking elsewhere. When it comes to buying and selling property, IFRE is your one-stop shop option.
So, if you’re looking to buy or rent a property in the UAE, look no further than Island Falcon Real Estate. With our many years of experience helping people buy and sell residential properties across the emirate, you can be confident that our team has what it takes to handle your request. Our dedicated and experienced team thrives on a client-centric culture.
We’re committed to exceeding expectations, always going the extra mile to leave our customers thoroughly satisfied. If you want to make inquiries, the quickest way is by calling us at +971 56 329 8364. Alternatively, please fill out our online contact form or email firstname.lastname@example.org.