Dubai has over the last decade, undergone a transformative change. From an oil-based economy to an innovative, knowledge-based one, the country has seen its GDP grow to 37.5% in 2012 from 31.7% in 2002. A slew of economic measures by the government have driven this phenomenal growth, particularly in the real estate sector. While technology has enabled transformation in property rentals and purchase, the personalized home buying experience provided by real estate agents will always remain central to Dubai’s property ecosystem.

Selling and buying real estate in Dubai, is governed by well-executed systems and strict regulations. With a majority of the country’s real estate customers being expatriates, the government is using a citizen-centric progressive approach to develop resident-friendly governance initiatives. Since 2002, a collection of measures; including clearly defined guidelines on buying and selling, strict engagement contracts and deposit refunds have been implemented. The roll out of such initiatives has greatly improved property dealings. Innovation and the government’s automation policy has further shored up processes. Dubai’s Smart City 2021 initiatives implemented by the present ruler, His Highness Sheikh Maktoum has had a major hand in this.

While greater technology intervention has afforded better streamlining of systems, what cannot be trivialized during the entire home buying process is personalized interaction. This is a critical business function performed by real estate agents that cannot be replaced by digital competencies. Agents therefore form an essential spoke in the wheel of the entire home renting/buying process.

Real estate agencies perform very critical tasks that power Dubai’s real estate economy. Being an agent comes with its own set of licenses, understanding of markets, knowledge of fiduciary relationships and network connections. The role of an agent therefore goes beyond a consultant to that of a confidante. Agents put property owners in touch with the right buyers/renters, establishing a trustworthy long-term partnership. They bring to the table considerable experience and expertise, built over several years. This is often crucial to ensure right connections are made, which works mutually for every party concerned.

The automation and technology implementation as part of new laws of the Dubai Land Department (DLD) strengthened by RERA, will only serve to regulate and license real estate brokerage firms in the Dubai emirates. Rather than taking away any of the agents powers, these laws will help weed out dubious agents, while giving established ones greater empowerment and autonomy. The new regulations will also streamline the agency sector to enhance their bouquet of services, and mandate that agents operate within a government framework.

A real estate agent’s work goes beyond the adoption and implementation of traditional processes.  Their interaction will not end with making the buyer-seller connect, but is poised to go even further. New legislations that the government has introduced will restructure organizations and improve accountability. What was once restricted to just a connection, is all set to take an agent from an implementation role to that of greater agility, flexibility and inter-connectedness – traits that will equip him for the long haul.