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08 December 2023

Easiest way to make money

By Parag Deulgaonkar

It could be the easiest way of making money in Dubai. Just refer a name and if he/she buys a property, then the agent shares a part of commission with you.

The commission amount ranges between one and two per cent of the property value.

Real estate consultants working with private developers have adopted a new sales approach whereby they ask people, using social networking platforms, to refer names of potential buyers.

Although such offers are not generally posted on open forums, the consultants first befriend people by sending friendship requests. Once their request is accepted, the message for referral is send.

"We at (-) have plenty of investment options available which you can explore to your network and can also earn a handsome commission with each sell. I would love to hear your opinion on this proposal," reads a message sent to some of Linkedin.com users.

Emirates 24|7 has names of the companies, but has withheld their names.

On twitter, the agents send out direct messages, offering part of their commission to those referring potential buyers.

A real estate, who works with a top private developer, admitted he was using the social networking platform to get contacts of potential buyers.

"You don't know someone from your contacts could invest in a property in Dubai and you can get one to two per cent commission of the value of the purchase," the agent said asking not to be named.

"Our company gives us between two and four per cent commission. And if you have given a referral and he buys, we will share that commission with you in cash," he added.

Dubai has put on top of the list for global cities that will witness double-digit price growth in 2014 by Knight Frank's Prime Global Forecast. Property prices rose by over 20 per cent in 2013.