In the following interview, Phil Sheridan, CEO of Berkshire Hathaway HomeServices Gulf Properties in Dubai, discusses the firm, the local market, and more.
Region Served: United Arab Emirates
Years in Real Estate: 20
Number of Offices: 1
Number of Agents: 20
Please describe some of the current trends you’re seeing in your market.
One of the biggest trends we’re seeing is an increase in the number of tenants converting to acquisition. At the same time, Chinese buyers have become the No. 1 nationality buying property in Dubai. We’re also seeing affordable housing—properties priced at $300,000 USD—as the sweet spot for investors. Another significant trend has to do with the government of Dubai offering visas with the purchase of a home.
You recently affiliated with Berkshire Hathaway HomeServices. What makes the network the best fit for you?
Berkshire Hathaway HomeServices is an iconic real estate brand inspired by one of the world’s most trusted and respected corporations, Berkshire Hathaway Inc. The brand is incredibly supportive, committed to innovation, and we find real joy in being part of the Berkshire Hathaway HomeServices family. We believe the brand will be warmly embraced in Dubai and the UAE, as residents and property investors will appreciate the brand’s reputation and marketing potential.
How does your company make its agents’ jobs easier?
Through our affiliation with Berkshire Hathaway HomeServices, our agents benefit from best-in-class marketing resources and learning center modules, in addition to having an iconic brand backing them up.
Our brokerage will emphasize ongoing professional development and will provide its advisors with top-shelf tools and resources. Our agents will be annually accredited and accountable to processes, standards and client satisfaction. There is no room for mediocrity at Gulf Properties. Differentiation will be key in this industry. We want to be the best in the market, and we’ll train to be the best.
We’ll also use the practice of exclusive listings, similar to what we see in more developed markets, to provide a streamlined process for clients. The process of investing in real estate can be complicated, and Berkshire Hathaway HomeServices Gulf Properties will eliminate that stress.
How do you stay ahead of the competition?
By onboarding the best agents and support staff in the market. We also stay ahead of the competition thanks to a company culture that enhances the working experience associated with a long-term career journey.
What sets Berkshire Hathaway HomeServices Gulf Properties apart from other brokerages?
Our affiliation with the iconic mother brand coupled with the sheer scale of expertise within are two things that set us apart.
Where do you see your business in five years?
I see Berkshire Hathaway HomeServices Gulf Properties as the most successful brokerage in the UAE based on industry accolades and exceptional client service.
Final Questions…
What is your favorite thing about working in real estate?
The fact that there’s no upper earnings limit.
What is your key to staying profile?
Stay focused and work hard.
Who has most influenced your success?
My father.
For more information, please visit www.berkshirehathawayhs.com.
Paige Tepping is RISMedia’s managing editor. Email her your real estate news ideas at paige@rismedia.com.
