One of the first questions asked was regarding advice for first-time buyers in Dubai. Carl Allsopp advised individuals to plan and save for their deposit, which should ideally be 20% of the property value.Lewis emphasized the importance of selecting a reputable developer when investing in off-plan properties, along with checking the payment plan and community development around the homes being purchased.
When asked what they have done differently compared to other firms to achieve success, Carl took the leap to reply and mention their focus on process-driven companies and hiring the best people. They highlighted the importance of recognizing weaknesses and constantly improving upon them.
Another question focused on support provided by realtors to close sales in Dubai. Lewis emphasized their company's consistent and trustworthy reputation, ensuring that anyone who works with them knows what they are doing. Carl encouraged individuals to remain focused on their own company and not be distracted by competition.
Regarding the Dubai real estate market's future, Carl and Lewis betted continued growth of 8-9% due to Dubai's unique position as a safe and attractive holiday destination with quality living. However, Lewis once again touched on the issue of undersupply putting pressure on rental and property prices.
Carl & Lewis were also asked about hiring and retaining new agents. Carl mentioned that hiring and training freshers is their specialty, and they love supporting individuals to achieve their success. There was also a question regarding the best off-plan area to invest under AED 3 million, and the experts suggested Tilal Al Ghaf due to its location and facilities.
Flipping properties was another topic of discussion, with Carl advising against having a short-term flipping mindset and instead encouraging long-term investments. They suggested that Jumeirah Islands is an excellent area to invest in as villas worth AED 10 million can potentially be turned into AED 20 million.
Another question focused on investing, choosing the best areas to invest in properties, to which they emphasized the importance of selecting a reputable developer and checking the payment plan and community development around the homes being purchased.
Finally, Lewis and Carl were asked how individuals could ensure they were investing in quality real estate when buying off-plan properties. They suggested that selecting a reputable developer was key, along with checking the payment plan and community development around the homes being purchased.
This was the first live Taking Care of Business of many and the next is already being planned. Which departments from Allsopp & Allsopp would you like to see on our next live podcast? The options are: Agents stories, Mortgages, Home maintenance, or marketing? Head to our Linkedin page to help us choose the next topic!