Honest Property

In a world where trust is valued as highly as gold, especially when multi-million investments are at stake, simple human honesty proves to be the most profitable business plan. Dubai's property market, having experienced rapid growth followed by stabilisation, now demands professionalism and transparency more than ever. Olga Tatarkina, founder of YBD Real Estate, shares how she built a successful estate agency in one of the world's most competitive markets, why most of her clients become friends, and which areas of Dubai remain undervalued by investors.

My Dubai journey began, like many others, out of necessity. I had previously worked in property in my homeland and received several job offers abroad. After weighing options between several companies, I eventually arrived in Dubai to join colleagues.

I spent eighteen months working at their agency, gaining valuable experience adapting to a new market. Throughout this time, I essentially operated independently — not from an office, but 'in the field', finding and managing my clients autonomously. When the question of increasing my commission percentage arose, management wouldn't accommodate my request, despite other agencies actively offering better terms.

That's when I decided to establish my own company. In Dubai, one cannot work as an independent estate agent — an official agency with proper licensing is required. After completing all the paperwork and announcing the launch of YBD Real Estate on my Instagram, something fascinating happened: fellow brokers I'd previously worked with began approaching me.

This formed our team — small but remarkably strong. Currently, YBD employs six brokers, nine people in total. This reflects a deliberate approach; I don't chase staff numbers, preferring quality of service. Such an approach allows us to know all clients and the details of every transaction. If one broker is away, others can always provide seamless coverage.

The name YBD wasn't chosen by chance. During my first year in Dubai, whilst actively maintaining my Instagram presence, other brokers frequently approached me with questions: "Olgha, how do I relocate? How important is English? Where should I begin?" This coincided with mass relocation from CIS countries, with many uncertain about their next steps.

I responded to everyone but gradually transformed into a veritable information service. When developing a course for brokers, we needed a memorable slogan, an anchor. That's how the phrase "Your Broker in Dubai" emerged, or YBD. When the time came to name the agency, we simply translated this phrase into English, creating our brand.

The company's philosophy revolves around three principles: honesty, professionalism, and long-term relationships. We don't merely sell property; we create reliable support for our clients in a new country. Every broker on the team holds a RERA licence and possesses at least three years of property experience. Even our newest member, who's been with us for nearly a year, previously worked as a broker in Miami — a market remarkably similar to Dubai's.

Unlike many Dubai agencies specialising solely in off-plan properties, we work equally with both primary and secondary markets — approximately 50-50. This allows us to offer clients a broader selection and more flexible solutions.

A significant advantage is our multilingual team. We speak Russian, Ukrainian, Kazakh, Polish, and English. Even our administrator speaks Hindi. This matters tremendously because when substantial property investments are involved, people want to fully comprehend all nuances. Property isn't like purchasing sunglasses or a suit, not even an iPhone. It involves serious money, legal documents, and complex decisions. Buyers trust those who speak their language: Italians approach Italians, Russian speakers seek Russian speakers.

Another YBD distinction: we don't abandon clients after a sale. We help resell properties, rent them out, and provide consultations on any questions. For us, "word and deed" aren't empty phrases. We always support clients through every stage: assisting with registration, obtaining Golden Visas, establishing companies, and drafting wills (particularly important in a Muslim country).

How should one choose the right broker when purchasing property in Dubai? First and foremost — honesty. A broker should act as a filter who, considering all your preferences and budget, selects the most suitable options. They should recommend properties not based on which developer pays them more, but on what genuinely benefits you.

Second — ask where the broker personally invests. A good broker inevitably owns property in the same area they're selling. This demonstrates confidence in what they offer clients.
Third — request actual transaction cases. Dubai has an excellent resource, DXB Interact, where one can verify any flat's history: when and for how much it was sold. You won't see the names of seller and buyer, but you can track price dynamics. Ask your broker to show examples of properties they sold and later resold profitably.

Fourth — examine what transactions occurred and their quantity. Look at how many stars are in the licence and which transactions were completed. From 2025, the system will display not only secondary market deals but also off-plan transactions.

Fifth — study the broker's social media. Property purchase isn't a single day's interaction. Sometimes the process takes weeks, months, and with instalments over 2-4 years — even longer. It's vital that the person suits you on a fundamental level — doesn't irritate, inspires trust. Through social media, you'll see who they are, what interests them, which values they share.

Dubai's property market has transformed dramatically over the past three years. When mass relocation from CIS countries began, many who yesterday were doing manicures or altering clothes suddenly became "investment advisors" and "property brokers". During the first nine months of 2022, I observed people arriving with rucksacks stuffed with cash, entering developers' sales offices and purchasing property without hesitation — there was fear of missing opportunities.

Amid this boom, seemingly everyone became a broker. Many promised clients 70-170% annual returns within six months. But when it became evident this wouldn't materialise, buyers, having read reviews or witnessed friends' bitter experiences, grew more cautious. Now they verify broker licences, enquire about experience and track records.

Today, every trustee office (notary office) states at the entrance that unlicensed brokers cannot even enter. Everything we advertise and publish on social media must include a QR code, otherwise the fine could reach $14,000 or more. One cannot provide inaccurate information; for instance, if I claim a payment plan is 50-50, when in reality it's 80-20, that's also punishable.

Even WhatsApp conversations where brokers promise specific returns can become evidence in court if a client becomes dissatisfied. Now, with fewer impulsive transactions, people study the market more thoroughly, and most unprofessional brokers have departed.

Over the past six months, our company has seen increased interest in commercial property. I began developing this direction at the request of major investor clients. Though I wouldn't yet call myself the primary expert in this field, I'm actively learning and have already conducted several successful transactions.

Commercial property constitutes an entirely different world compared to residential. Here we pay VAT, need to register for tax rebates, and maintain appropriate records. Essentially, when working with commercial properties, I perform both accounting and legal functions. It's a more serious direction.

Currently, we primarily focus on office spaces in DIFC (Dubai International Financial Centre) and Downtown. These locations enjoy consistently high demand and provide good returns.
Dubai continuously grows, and determining which area will thrive in several years can sometimes prove challenging. However, there are several locations I recommend to my investors.

First — The Valley by Emaar. On a map, it might appear as desert, but visiting reveals a splendid suburban complex with villas, townhouses, schools, shopping centres — all necessary infrastructure for comfortable living.

Second — Emaar South and the entire Dubai South. This area is situated near the future world's largest airport — Al Maktoum International. Major developers are already moving in, including Ellington with their community. Emaar South offers golf courses, villas, flats, and townhouses — properties for every taste and budget, starting from approximately $300,000 for a flat up to $2-3 million for detached villas.

Third promising zone — the Expo district. Also Dubai Creek Harbour, which has enormous potential. As far as I know, Emaar is placing substantial stakes on this area and plans to develop it extensively. Much has already been built and is under construction, but there will be significantly more projects than currently exist.

Among developers, I particularly recommend Emaar. There's even a saying: "With Emaar you never lose money." I observe this in practice: all Emaar projects we entered during the off-plan stage delivered profits upon resale.

When selecting property for investment or residence, one should consider several key factors.

Firstly, location. It should be convenient, with good transport connections. It needn't necessarily be near the sea or Dubai Mall; everything depends on personal preferences. Some find it convenient to live in the desert because their child's school or horse-riding facilities are there. Others need Business Bay and proximity to Dubai Mall because they work in Fashion Avenue. This requires an individualised approach — we always base recommendations on the client's lifestyle.

Secondly, developer reputation. Dubai has numerous developers, but I can count truly high-quality and reliable ones on my fingers—about ten. My personal favourite is Emaar, though their starting price begins at $500,000. Meanwhile, in Dubai one can find options from $140,000 with interest-free payment plans, including post-handover periods. The difference is colossal, like between different car brands. When asked, "Olgha, how much do flats cost in Dubai?" I respond, "That's like asking how much cars cost in Moscow — it depends on make, condition, mileage."
Ideally, the developer should already have completed projects. Then you can visit them personally, assess construction quality, learn about the management company. Many brokers neglect discussing this last point during sales, which is a mistake. If the developer lacks its own management company, they engage external ones, whose contracts may expire. You risk ending up with untrimmed lawns, dirty swimming pools, and neglected grounds.

The third important factor — payment plan. Emaar's is perhaps the least convenient: nearly the entire sum must be paid during construction with only a small portion upon receiving keys. Other developers offer more flexible terms — for instance, 50% during construction and 50% upon handover. This allows taking a loan for the remaining amount at a low rate (just 4% annually in Dubai) and using rental income for repayment.

Incidentally, at YBD we help clients not only choose property but also arrange loans on the most favourable terms. This forms part of our comprehensive service approach.

Regarding amenities worth noting, I would highlight several key ones. Swimming pools and gyms are now considered mandatory for any quality complex. Parking is also important — some developers sell small flats, such as studios, without parking spaces. If purchasing a resale property, ascertain which parking level your space occupies — sometimes it might be the 7th-8th floor, and navigating the spiralling ramp daily becomes tiresome.

For families with children, playrooms and playgrounds are valuable. Outdoor enthusiasts will appreciate barbecue areas. One of my favourite infrastructure elements — coworking spaces — can be right in the residential complex. This provides a convenient area for work, accessible directly from your flat, as well as a venue for events. Imagine celebrating a child's birthday or meeting friends—you can order food and drinks and spend time in a comfortable space without inviting guests home.

Interestingly, among our clients there's now roughly an equal split between investors and end-users. Just three years ago, 90% of buyers acquired property exclusively for investment, but now more people are relocating to Dubai permanently. This relates to the global situation; many seek stability and security for themselves and their businesses.
Incidentally, besides property, we help clients obtain Golden Visas, establish companies, or arrange freelance visas.

Dubai's technological and infrastructural solutions impress with their efficiency. I'm still amazed by construction speed: entire districts can emerge here within months. Even more impressive is the approach to transport interchanges. As soon as traffic congestion appears in a new area, authorities immediately build bridges and flyovers, resolving the problem literally within months. In Dubai, it's practically impossible to manage without a car, so this approach is critical for residents' comfort.

Regarding construction itself, work proceeds at incredible speed: approximately one floor per week. Technologies constantly improve: while upper floors are still being built, lower ones are already being glazed and finished. Each new project from developers like Emaar, Sobha, or Dubai Holding invariably proves better, higher quality, and more functional than its predecessor. Consequently, everyone strives to acquire flats in newly built properties.

Working with clients, I've noticed an interesting pattern: about 70-80% of my buyers become genuine friends. We attend each other's birthday celebrations; I visit housewarming parties. It's especially gratifying when we collect keys together and then celebrate this milestone. Other brokers in our team develop similar relationships — many clients transform into friends with whom we spend time on beaches or at barbecues.

Such an atmosphere of trust becomes particularly important when working with affluent clients. People who own large corporations and have millions or billions in their accounts possess highly developed intuition. This especially applies to those who earned this money themselves or managed to preserve and multiply family wealth. They unerringly sense falsehood. Therefore, for those wishing to work with major clients long-term, only one path exists — absolute honesty.

During my time in Dubai, I've accumulated numerous interesting stories. One involves clients from Moscow — a wonderful family with several children. We purchased a flat for them with an instalment plan requiring payments every six months. The clients preferred flying in personally, bringing cash (this developer accepted such payment), whilst also having a holiday and swimming in the sea.
Once they arrived on a night flight, we met for breakfast the next morning, and they horrifyingly announced they'd forgotten the money at home. Imagine! They flew specially to make a payment and forgot the actual money! And the payment day was the final one according to the contract. We had to urgently withdraw funds from cards and transfer through all possible means. Now we recall it with smiles, but at the time we all experienced considerable stress.

Another case involved a very expensive property — a large flat with panoramic views. The seller, upon purchasing it from the developer three years earlier, decided to conceal their identity and created a complex corporate structure.

Such situations demonstrate how important it is to work with an experienced broker who understands all nuances of local legislation and can anticipate potential complications. In our company, we always try to calculate all risks in advance and prepare clients for various scenarios.

To make the right choice when buying property in Dubai, one must understand the peculiarities of each area and developer. For example, Emaar offers premium properties with impeccable construction and finishing quality. Their projects are always situated in strategically advantageous locations and ensure stable value growth. However, the entry price is high — from $500,000.
For those seeking more affordable options, there are second-tier developers offering flats from $140,000-200,000. They often compensate for lower prices with favourable payment plans. But it's important to thoroughly check the developer's reputation, the quality of previous projects, and the reliability of the management company.

Special attention should be paid to layouts. Dubai features both functional, meticulously designed flats and frankly unsuccessful solutions. For instance, in some studios, the kitchen is positioned right by the entrance door, creating inconvenience during use. In other cases, there might be strange room proportions or inefficient use of space.

Regarding investment attractiveness, I always advise looking at an area's growth potential. For example, Emaar's The Valley might currently seem remote from the centre, but with infrastructure development and new road construction, this location will become much more accessible and desirable. Similarly with Dubai South — proximity to the new airport will make this area extremely attractive in coming years.

An important factor is also the presence of schools, shops, restaurants, and medical facilities nearby. For instance, many families choose Hills or Arabian Ranches precisely because of proximity to good schools. Young professionals prefer Downtown or Business Bay for accessibility to offices, restaurants, and nightlife.

For sea lovers, the obvious choices are Palm Jumeirah, Bluewaters Island, or Jumeirah Beach Residence. But not all properties with sea views are equally good. For example, Madinat Jumeirah Living offers spectacular views and prestigious location, but lacks basic infrastructure within walking distance — not even a shop where one can buy water.

I remember clients who were convinced they wanted to buy a flat specifically in Madinat Jumeirah because they always stayed at the nearby Al Naseem or Al Qasr hotels. We viewed four complexes: three on the coast (Beach Front, Madinat Jumeirah Living, Port De La Mer) and Dubai Hills away from the sea. After a full day of viewings and discussions, it emerged that the clients chose MJL only because they weren't aware of other options. When they saw how much more convenient it is to live in an area with developed infrastructure, where one can leave home and get a manicure, visit a supermarket, have coffee, dine at a restaurant, their opinion changed. Eventually, they purchased a flat in Dubai Hills, which offers everything necessary for comfortable living.

This example shows how important it is not to limit oneself to first impressions or promotional materials. A professional broker should present different options, explain advantages and disadvantages of each, help clients make informed choices.

Another important topic concerns transaction formalities and all legal aspects of property purchase in Dubai. Many don't realise the property registration procedure here is quite straightforward, especially compared to some European countries. The transaction occurs in a trustee office, equivalent to a notary office. Property rights transfer also happens there. The entire process takes about an hour if documents are properly prepared. However, it's important to know the nuances: for instance, buyer and seller must be present in person or represented through notarised power of attorney.
For foreign buyers, several peculiarities exist. Particularly, if purchasing property through a company rather than as an individual, additional documentation is required. As demonstrated by my clients with their complex corporate structure, excessive complications can create unexpected problems, especially with legislative changes.

When buying off-plan, I recommend carefully studying the developer agreement. Pay attention to construction timelines, penalties for delays, and possibilities for contract termination. Some developers include clauses allowing layout or area modifications within certain percentages without consulting the buyer. This can lead to unpleasant surprises upon receiving keys.

Regarding payment, many clients wonder how to conduct transactions. Dubai offers several methods: bank transfer (most common), cheque, and in some cases cash (though this is becoming less popular). When purchasing off-plan, funds go to an escrow account monitored by regulatory authorities. This guarantees money will be used specifically for constructing your property.
One of the most frequent questions clients ask: "How to choose among numerous options one that will be comfortable for living, liquid for resale, and profitable for letting?" There's no universal answer, but several proven principles exist.

Firstly, central areas with developed infrastructure will always be in demand. Downtown, Dubai Marina, and Palm Jumeirah show stable value growth and high rental demand. Secondly, proximity to metro or main transport arteries significantly increases property liquidity. Thirdly, unique characteristics — panoramic views, large terraces, high ceilings — make property more attractive to potential buyers.

But most important is the price-quality ratio. Even the most expensive and prestigious property can prove a poor investment if overvalued. Unfortunately, during the boom period, many brokers sold flats for $100,000-300,000 above their market value. Now such properties cannot be resold even at their purchase price. Therefore, working with a professional who helps determine fair value is critically important.

Each year, Dubai's market becomes more mature and structured. If previously it resembled something of a "Wild West" where anyone could declare themselves a broker and sell anything, now regulators are tightening requirements. For clients, this is good news: service quality is rising while risks decrease.

My experience shows that transparency and honesty form the best long-term business strategy. For example, if a client is interested in a particular area or complex, but I'm aware of construction or maintenance quality issues, I'll certainly warn them. Perhaps in the short term I'll lose commission, but I'll preserve reputation and trust.

Many clients return for subsequent transactions or recommend us to friends and colleagues. Currently, approximately half our new clients come through recommendations. This represents a true reward for a broker — seeing people who were sceptical about Dubai two or three years ago ("oh, Dubai, desert, Muslims") now observing their friends' property value growth, seeing beautiful complexes with swimming pools and complete infrastructure, and asking for "that very broker's" contact details.

Working with clients, I always try to understand their true needs, often hidden behind initial requests. For instance, someone might say they want a flat with sea views, but through conversation it emerges that proximity to their child's school or a quiet neighbourhood matters far more. Therefore, I never limit myself to showing only those properties clients initially request.

Long-term planning is crucial. Property purchase represents a decision for at least several years. If a family plans to expand, perhaps a flat with an additional room should be considered. If there are plans for obtaining residency through investment, one must choose property valued above a certain threshold.

A separate category comprises investors focused exclusively on returns. For them, we conduct detailed analysis of potential rental yields for various properties, accounting for maintenance costs, utilities, taxes, and forecasting net profit. In some cases, the best solution may not be the most expensive or prestigious property, but one offering optimal investment-to-income ratio.

In recent years, I've observed an interesting trend: more people are buying property not just for investment but for personal residence. If previously the typical client was an investor never planning to live in Dubai, now many consider this city as a permanent residence. This relates to UAE's economic and political stability, as well as continuous improvement in quality of life.

Dubai is becoming increasingly comfortable for permanent living. The education and healthcare systems are developing, with more cultural and entertainment venues emerging. If previously many perceived Dubai as a temporary solution, now people plan to live here for years, raise children, develop businesses.

This reflects in property selection preferences. End-users pay more attention to practical layouts, finishing quality, and neighbourhood infrastructure. Details matter to them: sufficient storage space, functional kitchens, convenient layouts. Investors, meanwhile, focus more on location, value growth potential, and rental possibilities.

In our company, we try to account for these differences and offer each client precisely what meets their goals. For investors, we select properties with maximum returns; for end-users, those with optimal comfort-to-cost ratios.

One advantage of working with YBD Real Estate is our readiness to support clients through all stages of property interaction. We don't simply sell a flat and forget the client. We help with all documentation, connecting utilities, selecting furniture, and renovations. If a property is acquired for rental, we handle tenant selection, contract execution, and payment monitoring.

For foreigners unfamiliar with local rules and procedures, such support is invaluable. For example, many don't know that UAE has special inheritance laws based on Sharia. For non-Muslims, this can create serious problems when transferring property to heirs. We recommend all clients execute a will through the DIFC (Dubai International Financial Centre) system, which operates on English law principles. This avoids applying Sharia norms and guarantees property distribution according to the owner's wishes.

All these additional services make collaboration with us maximally comfortable and productive for clients. We strive to be not merely brokers but genuine consultants on all matters related to living and investing in Dubai.

Working with clients from different countries, I've noticed one common trait — the desire to make the right choice and maximise returns on investments. Yet each client is unique, with their preferences, experiences, and expectations. Our task isn't simply offering properties but finding solutions perfectly matching individual needs.

Sometimes this requires time and patience. I remember a client who wanted to see literally every available option within a given price range before purchasing. We spent two weeks together, viewed over 30 properties before he made his choice. Now he's absolutely certain he made the right decision and has already recommended us to five friends.

In other cases, clients know exactly what they want, and the selection process takes only days. Once, a businessman approached me having conducted his own market research and already selected a specific complex. We merely needed to find the most advantageous option within that complex and complete the transaction. Such diversity in approaches makes my work fascinating and never dull.
Through years working with Dubai property, I've become convinced that success in this market builds upon three pillars: knowledge, honesty, and relationships. Without deep market understanding, one cannot provide quality recommendations. Without honesty, long-term relationships become impossible. And without good relationships with clients, developers, and colleagues, achieving truly outstanding results proves difficult.

That's precisely why at YBD Real Estate we place such emphasis on team development. Each broker continuously improves their qualifications, studies new projects, analyses market trends. We regularly hold internal discussions where we share experiences and knowledge. This allows us to offer clients the most current information and qualified recommendations.
I often tell my staff we're not simply selling square metres — we're helping people find new homes or make profitable investments. Behind every transaction stands a human story, a dream, a plan for the future. And our task is ensuring this story continues happily.