Dubai’s brokerage firms feel the squeeze | GulfNews.com:
"For the many independent — big and small — real estate brokerage firms in Dubai, they have a fight on their hands. It could be a tussle where many of them will find they are not favourably placed.
Of late, Dubai’s leading developers are showing an inclination to sell direct through their in-house sales teams rather than appoint a handful of third-party brokerage firms to do so. Some, like Dubai Properties, have upgraded this side of their operations to offer a holistic set of solutions to clients, while, just recently, Nakheel entered a strategic partnership with Engel and Völkers to set up a company to sell and lease properties. Deyaar for its signature launch, The Atria, earlier in the year handled most of the transactions in-house and a top official said this side of the business will be developed to its full potential.
More developers, as they prepare to launch off-plan launches in the months ahead, plan to take a similar approach. A leading investment company with real estate development interests has just expanded its sales team and in the process hand-picked agents from one of the leading local brokerage firms."
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