1. Could you give a small brief about Rightdoors.com and its business model?
RightDoors.com is Dubai's and the region's first online hybrid estate portal where we don't charge commissions. We are known as Dubai's first commission-free real estate agency. We don't charge the usual 5% percent commission when renting a property, but only a flat fee of AED999 regardless and irrespective of the property size or rental amount. Paying hefty commissions has been a big headache to tenants for a long time, and RightDoors.com will give them a chance to save money from commissions.
2. When was the company formed and when did it commence operations?
RightDoors launched its ground operations in the month of August 2018. By December, RightDoors closed 100 transactions in 3.5 months, making the startup successful. So far, the venture has invested a total of Dh1.2mn for development and building the operations of the company. We've invested in building teams and operations. We took time in educating our team with this model and now we are a fully running startup.
3. How is it different from other property listing sites?
In other portals, agents are directly charging the hefty 5% commission. Our portal is a no commsission opportunity. Our property experts handle everything from viewings to closings the deals, and tenants only have to pay a flat fee of AED999.
The portal allows tenant to book a viewing and allots dedicated property consultant who will conduct the viewing, handle all the negotiation, and all the rental process that needs to be done. Once everything is complete, the tenant can easily move-in to his/her new home.
4. What are the benefits Rightdoors.com offers landlords?
The best advantage for landlords is they can get their property rented faster while understanding the tenants have no burden any longer. If tenants they like the property of their choice, they only need to pay a flat fee of AED 999 and move in their new home. This will build more trust and transparency in the market among landlords and tenants.
5. Do landlords have to pay a membership fee?
No, landlords do not have to pay a membership fee. They don't have to pay anything.
6. Has Rightdoors tied up with other property listing sites?
Yes, We have associated and tied up with all property portals. Once landlords register their property, it instantly gets advertised on top property portals like Property Finder, Dubizzle, and Bayut. This increases the visibility of a landlord's property, giving it higher opportunities to gain leads and potential viewings.
7. What are the current challenges in the property market?
Many properties in Dubai are vacant due to increased supply. Landlords do not get the price they seek and tenants are finding it expensive to move into new homes. So, to reduce to burden to tenants and increase the occupancy of properties in the market, we've launched RightDoors.com in the region.
8. What are the company’s plans for 2019?
For the year 2019, our target is to raise funds which would be utilised to strengthen our brand's presence in the market. It would also be utilised to reach landlords to register their properties. We are a game changer in the market.