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Dubai Value Proposition

Dubai Value Proposition. Dubai Value Proposition. Overall Value Value to RERA Value to Buyers Value to Sellers Challenges Summary. Overall Value. Web 2.0 and Social Media approach to Real-Estate Online oversight of transactions One place online to discover, evaluate and buy R.E.

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Dubai Value Proposition

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  1. Dubai Value Proposition

  2. Dubai Value Proposition • Overall Value • Value to RERA • Value to Buyers • Value to Sellers • Challenges • Summary

  3. Overall Value • Web 2.0 and Social Media approach to Real-Estate • Online oversight of transactions • One place online to discover, evaluate and buy R.E. • Bona-fide participants – sellers, financiers, brokers, buyers • Collaborative activities – forums, online meetings, file repository, chat

  4. Overall Value • Analytics to gauge the market, move with trends and provide good services to the community • Notification for various parties to stay current on transactions • Use of Online Meetings to enhance collaboration and communication

  5. Value To RERA • Visibility into transactions • Market metrics aggregated and drawn from the community • Education of the Real-Estate community • Disbursement of forms • Freshening of information • Cooperation

  6. Value To RERA • Feedback from the community • Enhanced communications to monitor activities (SMS, notifications) • Access to web conferencing for seller certification

  7. Value To Sellers • Trusted outlet for marketing • Lead generation vehicle • Pre-qualification of potential buyers • Focused search of seller’s properties • Qualification of brokers and agents • Compliance with RERA regulations • Simplified filings with RERA

  8. Value To Sellers • Traffic and analytics reporting • Collaborative engagements with prospective buyers • Rich-media platform for showing properties • Enhanced communications during sale (SMS, chat) • Web meetings

  9. Value To Buyers • Trusted, certified seller properties • Rich-media experience when shopping • Oversight by RERA • Comparative shopping & Focused Search • Community knowledge • Outlet for feedback Search for Properties Location & Lifestyle Layout & Architecture Size & Price Range Geography Dwelling Type Price Range Area (Sq. Feet) Region Style # of Bedrooms # of Bathrooms Seller Agents Seller Search

  10. Value To Buyers • Collaborative engagement with sellers • Enhanced communications during sale (SMS, chat) • Web Meetings

  11. Challenges • Middle East cultural differences – Not as wired as U.S. • Old-School business practices – entrenched, staid • Natural aversion to online social networking • May not want to ‘show their hand’ (poker) • Real-Estate not yet open to sharing knowledge • Competitive environment counter-intuitive to collaboration • May be considered too time-consuming

  12. Challenges • Mistrust of Gov bureaucracies • Privacy and confidentiality is paramount – fears of compromising delicate deals • Too many middlemen

  13. Summary – Dubai Value Proposition • Many Benefits for: • RERA • Sellers • Buyers • Some Challenges based on culture and lagging technological savvy • Will require education and adoption • May require live proofing in the community • Examples of enhanced engagements due to the community • Widely touted successes as a result of using the site • Will require a public policy campaign by RERA and the L.D. • Definitely need to ‘take it slow’ on our rollout of enhanced collaboration features • Don’t set high expectations on the RERA side

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