Hiring spree as property market rebounds

Property brokerage firms in Dubai are on a hiring spree with hundreds of new brokers likely to join company rosters in coming months.

The local firms have stepped up hiring following Dubai property transactions rising 63 per cent to Dh44 billion in first quarter 2013 following rising global investor confidence in the emirate’s realty sector.

In the latest Knight Frank report, Dubai took the second position on the list of the most hottest property market in the world, with prices shooting up by 19 per cent in 2012.

In a move that reflects the growing optimism, Better Homes, a top brokerage firm, has shown desire to increase its property agent headcount by another 150 after having added over 100 agents in the last 12 months.

“We are matching what our customers want, and that is more agents on the ground. We have 250 agents in both Residential & Commercial - but the market is showing the need for more,” said Better Homes Chief Executive Officer Ryan Mahoney.

The firm has launched a new recruitment portal to handle the influx of resumes with Partho Bhattacharya, Head of Human Resources, Better Homes, stating they have received over 10,000 resumes for a range of roles over the past 12 months.

A number of brokerage firms are joining the bandwagon and are publishing print and online adverts to attract talent.

“Are you a Go Getter and looking for a Wow Job? Flying Color Real Estate offers you an exciting opportunity to get your dream job,” the company advert reads.

Smith & Ken advert states: “Want a career with the industry’s best estate agency. Apply Now.” The company has asked potential employees to contact its human resource department.

Pan Emirates Properties only says it is hiring property sales agent with attractive package, but does not disclose the numbers.

In December, Ben Waddilove, Director at Macdonald & Company, a property recruitment consultancy, told Emirates24|7 that many real estate brokerages were hiring.

A senior sales consultant with good network can earn a monthly salary of between Dh30,000 and Dh50,000, Waddilove had said.

Property agents, on condition of anonymity, told this website they only get a minimum basic salary and have to share the commission equally with their employer.

A senior executive of a local brokerage firm, who asked not to be named, admitted: “Yes, we do offer a minimum salary to the agent and they have to share 50 per cent of their commission with us. Despite all that, in a month a good agent can make nearly Dh25,000 to Dh30,000 per month.”

 

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