Discover how this Dubai real estate agent set a new company record for rentals in 2023!
Welcome back to Taking Care of Business, on the first podcast of 2024, join our Chairman; Lewis Allsopp as he chats with Allsopp & Allsopp’s highest transacting lettings agent; Conor Thomson. Dive into all-things rentals, what it takes to become the best lettings agent in Allsopp & Allsopp over and uncover how the rental market is set to perform in 2024!
So, let’s dive into the topics discussed over the course of the podcast.
Lewis introduces Conor, who is recognized as the most successful lettings agent in the 16-year history of Allsopp Real Estate. Having joined Allsopp & Allsopp in August 2020, he quickly rose to become the number one billing lettings agent in the company.
Diving right in, Conor speaks about his decision to pack his bags and move to Dubai, he shares how promising the financial prospects and career opportunities seemed during the UK lockdown. Conor also mentions how the uncapped earnings and career progression in the dynamic Dubai market were major attractions for him.
Conor also mentions how the benefits of longevity in real estate can reap very big rewards. He stressed on the importance of building a client base for repetitive business, and how networking also helps one score deals. He said “the longer one stays in the industry, the more comfortable and successful they become.”
Lewis then goes on to ask Conor why he chose to stay in lettings and didn’t shift into sales, seeing there is even better growth there. Conor shares how he is content withlettings, and also how he has a positive working relationship with his manager, Richard Feeney. To add to which, he shares that the support from colleagues and the comfort in a role where he excels contribute to his preference for lettings.
Lewis and Conor then dive deep into discussing the Dubai rental market, noting a steady increase in prices, especially from 2020 to 2022. Conor shares his predictions of a plateauing of prices in the near future, with a strong market supported by an influx of expat families and demand for villa communities.
For landlords, Conor advises investing in maintaining properties, emphasising on the importance of a fresh and appealing look to attract tenants. While landlords are still in control due to demand, he also suggests a more open-minded approach when landlords are approaching property modifications.
To conclude the podcast, Lewis asks Conor about his predictions for 2024. Looking ahead to 2024, Conor shares that we can expect a robust Dubai rental market, expecting prices to stabilise at a good level. The continuous influx of people to Dubai and the January surge in property inquiries indicate ongoing market strength.
Conor also recommends reaching out to experienced agents directly for property inquiries, as a significant number of properties may not make it online. Due to high demand, contacting market-leading agents increases the chances of securing desired properties.
Want to know more about Conor’s journey? Tune into Taking Care of Business, every Friday!