Lay-offs stack up in Dubai’s property broker firms | GulfNews.com:
"There is a sense of crisis sweeping through Dubai’s real estate brokerage firms as some of the smaller ones shut shop and the bigger ones start laying off agents. The concerns could be further exacerbated with the Ramadan and summer breaks looming, which could find more brokers without a job to hold on to.
Matters have not been helped by developers with recent off-plan launches preferring to deal with a single brokerage firm to do the selling. In some cases, developers have let their in-house marketing teams handle the sales aspect as well.
“The fall in transactional activity has led to many brokerage houses becoming operationally unviable ... in the process, some unscrupulous activities, too, have been exposed causing buyers to suffer losses,” said Sameer Lakhani, Managing Director at Global Capital Partners."
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