EDKAR Abboud is a Lebanese serial entrepreneur and international Real estate expert. He has always found himself focusing on the luxurious projects since he arrived to Dubai, as the industry potentially keep solidly thrive.
EDKAR ABBOUD’s massive experience within Dubai real estate market has made him achieve over 200 million dollars in sales within the last 2 years.
EDKAR Abboud run his businesses between Dubai and Lebanon, but this never been an obstacle for him to thrive within the Market in Dubai.
Today We having an exclusive interview with Mr. EDKAR ABBOUD in Dubai, to discuss his achievements throughout the last couple of years and his vision in 2022.
1- Let’s start by knowing why did you choose to work always with luxury properties and especially Palazzo Versace.
Difference has always been an important part of my life, especially in the professional field.
I have invested a lot of effort and perseverance in acquiring what is very valuable, for certain reasons, which are as follows:
In my beginnings, I always believed that the person reflects his future professional vision, and also what you provide to clients is the value that makes them happy and satisfied with the investment, and this is what builds the trust and friendship that I have with all clients who have dealt with me during these previous years.
Palazzo Versace Dubai is a Neoclassical masterpiece with subtle traces of Arabian architecture.
Steeped in classic Italian design, reflect the true essence of the Versace brand with furniture designed and tailor-made by the House of Versace exclusively for the hotel.
I have been working with the construction and development team of the Versace Hotel, who was the hotel under construction, and I have always seen the tremendous value and the wide capacity, that this project will be one of the most wonderful things that Dubai has given birth in the field of real estate. And this is what made me to this day maintain that idea and I will not think of changing it because all the clients who bought with me in the Versace Hotel, are grateful to me for that decision.
2- As per your remarkable experience Mr. EDKAR, what do you think are the major behaviors that help an agent to succeed in Dubai Real estate industry?
I genuinely say that I have mentored many people during my career and i always make sure that they truly understand 3 main points which I am about to mention
First of all is Do not Always Focus on Selling
While knowing good sales tactics is beneficial to real estate agents, you don’t always need to make the hard sell. In fact, there are many times when separating yourself from the stereotype of a pushy real estate salesperson can help your career.
Even if you’re starving for a deal, think of yourself as a consultant, rather than a salesperson, for better results.
You’ll also want to focus on your soft skills, including people skills, self-motivation, and problem-solving, which are some of the top abilities that real estate agents need.
And this will take us to the second important point which is Think Like a Small Business.
The majority of real estate agents are independent contractors. Succeeding as an independent contractor, and being in control of your growth, means thinking like a small business, rather than as an employee.
Invest in relationships, work towards long-term goals, and learn what you can about marketing. From Since the beginning you need to understand how to create a business that is portable, flexible and able to move and grow with you. You’ll be much more able to weather changes in the market than someone who isn’t thinking like a business owner.
And this will take us to the next step which is to Develop a Business Plan.
When you’re thinking like a business owner, your long-term success depends on many things. A good beginning business plan is one of the most important.
Don’t let your enthusiasm for getting a client right away keep you from important business organizing and planning tasks. Take time to understand your market and customers. Identify what sets you apart from other real estate agents. Develop the right tools and skills to ensure your business grows, and educate yourself on any important skills that you currently lack.
While you are growing your prospect base, think beyond just getting your first client and have a concrete plan for how you will grow your business.
This was a remarkable answer and it opens our eyes on the next question:
3- How do you see the Real estate Market in terms of performance?
According to most of analysts, the Dubai property market will remain a buyer’s market for at least the next couple of years. This is in sharp contrast to most residential markets around the world experiencing runaway price rises, particularly during the pandemic.
There is still a large amount of supply that is likely to be completed across Dubai in the next two to three years. This is likely to favor buyers going forward.
Especially after the pandemic of Covid-19 and during in a very short period of time we have noticed a vast improvement in the residential property transaction volumes which have created a demographic and economic factor offered by the developers and banks to enhance the massive participation from investors and residents in Dubai.
At the end of the day, Dubai real estate performance will always be a profitable market to invest and secure your assets, with that being said, Dubai offers one of the highest quality of real estate in the world which leads to a potential consumer demand, and this allows every investor to lease out their properties with the highest ROI possible.
4- Mr. EDKAR, speaking of what is happening globally nowadays, with the crash of the cryptocurrency since the beginning of the year, where do you stand in term of your 2022 vision ?
With the UAE being recognized as one of the first countries that fully recovered from the pandemic, life in Dubai has regained a sense of normalcy. The UAE economy progressed significantly and ultimately impacting Dubai’s real estate market. In fact, Dubai’s property market grew at an incredible rate with ready sales throughout every quarter of the last year and this year as well.
Now the question is: will this trend continue in the future?
Before I answer this question, I would like to highlight that there is nothing wrong with cryptocurrencies and the down side which the industry is facing nowadays, and here we can understand stable the real estate market comparing to digital currencies. As well as when every investor start feeling unsafe with their digital investment, they start injection into real estate, and this will boost the performance of Dubai market which will create a massive demand which will eventually be on the favor of the existing real estate investor to generate the remarkable ROI.
Will this “Dubai Real Estate Market Growth” continue in the future? Yes, definitely.
Dubai will continue to experience this upward trend in real estate transactions for the next decade, at least. Even rent prices are expected to rise, given the current boost in economic activity and major events taking place in the city. Nevertheless, Dubai’s properties shall remain affordable, compared to other international markets. As referenced by the UBS Global Real Estate Bubble Index of 2021, Dubai is currently the only undervalued market, presenting a great opportunity for investors now more than ever!
5- How do you describe yourself as a Real Estate advisor based on your knowledge and relationship with clients ?
My real estate journey starts with a unique beginning. I have always enjoyed helping people and learning about who they are and what makes them the unique individual they are. That intrigue of the story led me to be who I am today.
Real Estate is so much more than a job or career for me, it is a way of life. At my core, I am a caring person who is genuine and seeks to do the right thing in all I do. I really want the best for people and my clients, my compassion and caring skills from being someone who wants to excel everything he does, and my creativity, intellect, and determination, combine to make me one of the top agents in my area and in my market. This is only the beginning of my journey. One that I am thrilled to be on every day and one that equally excites me and drives me to be the best that I can be in all areas of my life.
At the end We thank you So much today for your genuine answer and this beautiful experience we are truly happy for having this valuable interview with you Mr Edkar Abboud.