Now it is too hot to conduct property viewings in Dubai. Sometimes, the digital thermometer of your vehicle can show even 50 degrees by Celsius.
The job of a property consultant is not exactly the most sought after nowadays. It hasn’t been for a year or more already, and even when the weather was cooler. There are many reasons to blame for the lack of luster of the profession – slow real estate market, difficult and time consuming property transactions, cautious and ever demanding clients, low wages. Yes! One may wonder where the high commissions of property consultants went, but after you deduct operational and licensing expenses, ever increasing marketing and advertising fees, there is not that much left. And during the past year of a slow business, most of the property consultants have already spend their savings.
Industry insiders can confirm that even highly reputable real estate agencies reduced their work forces by half during the past year. Some closed down, while others are preparing to shut doors.
As of yesterday, clients can find the doors of one of the well known real estate agency closed. The note on the door simply says: “NO Longer open for business!”
