MASTERKEY BLOG

Welcome to Our New Clients and New MK 101 Training Dates Announced.

Masterkey welcomes our newest clients! After the successful launch of Masterkey 4.0, we would like to extend a warm welcome to our newest clients, who are now using the latest version of Masterkey: • Evershine Real Estate • Aztec Properties (Abu Dhabi) • Humbert’s International • Meraas Development We look forward to a prosperous and long-lasting relationship with each of these companies! MK 101 training dates set for December and January We completed our first MK 101 training session earlier this month, and it was a great success. The MK 101 sessions are held regularly and are designed to teach users the in’s and out’s of the new Masterkey. With this unique training environment, users are able to interact with each other in real sales and leasing scenarios, all the while being trained by our professional staff. The sessions are available to all new users, as well as any existing users who may require a “refresher course”. The next two MK 101 training dates have been set as follows: •December 14-18, 2008 *Deadline to register is December 7 •January 25-29, 2009 *Deadline to register is January 11 Please contact the Masterkey sales team at sales(at)gomasterkey(dot)com if you would like to register for either of the above trainings sessions. Regards, The Masterkey Team

What caused the Dubai Real Estate market slow down and what can you do about it?

For those who missed the last Dubai Property Society event, you missed a fascinating speech and following debate on the cause and impact of the Financial Sector on the Real Estate industry. I can hardly do credit to Ali Al Shihabi’s understanding and depth of the situation, but I’ve summarized the main points below: What caused the slow down? Early 2008 - Talk of revaluation of Dirham vs. US dollar flooded Dubai with money from financial institutions looking to make a quick gain. Local UAE banks in turn provided financing based on these deposits, and when International funds decided to pull out a few months later local banks had their own mini credit crunch. Mid-Late 2008 - The world banks had the much publicized credit crunch, compounding the already tight situation in Dubai, leaving banks with less deposits than loans. Late 2008 - Stock markets declined, causing a fall in available funds to individuals and corporations alike. Combine these three points and we see the financial sector tightening up, making lending prerequisites tougher and dropping the total percentage they will lend to individuals. This in turn makes it harder to purchase property and leaves speculators scrambling to offload their investments. Are we doomed? No! Look worldwide and look at the UAE, or even the GCC compared to other world markets. The GCC is in the strongest position to ride out the credit crunch wave with a strong surplus of cash left over from the recent spike in oil prices. With these funds the UAE federal government has guaranteed deposits for 3 years in all UAE banks and thus provides a level of comfort for the UAE Banking sector that other markets do not enjoy. Al Shihabi argued that the UAE moved very fast to protect the banks but the recent ’slow down’ is due to communication and that this security has not been communicated as well as is should have been in the media. In comparison, governments elsewhere do not have the massive financial backing that the GCC has, and Al Shihabi believes that the UAE market will recover faster than others. So what does this mean for projects in the UAE? Real estate projects which have already commenced and which have full commitments from the banking system will continue during this initial drop and the public will eventually see that these projects will continue construction and confidence will grow. There may be some delays, but that will only reduce the potential oversupply and keep prices stable. The so called “paper market” - projects only in the planning stages - will have difficulty getting the financing to fund these new developments, and will be a risk to any investor. What about Dubai in general? Dubai has a underlying business model that is great and sustainable. It has tourism, it has a thriving business sector, it has a strong world renowned airline and it’s growing. The fundamental problem with Dubai is transparency. In order for the public to feel more secure, reputable data needs to be released in order to inspire confidence. It is better that the bubble burst now and not in 5 years as the market could benefit from more affordable prices. Existing projects will benefit and established real estate brokers will have work hard to stay afloat over the short downturn. Al Shihabi argued that with all things considered this downturn is healthy for the market and it will separate the good from the bad. So what does this mean for me as a broker/developer? Get organized, use this time to clean house and find ways to save money. This can be done by reducing overheads, but depending on your business can also mean being more productive with your current staff. Efficiency drives profitability, and focusing on the finer elements of your business can ultimately help save you money. Of course, Masterkey can save you money as well, so plan now for the Dubai comeback. Daniel Hart Director of Business Development Masterkey www.gomasterkey.com More about Mr. Ali Al Shihabi al Shihabi of Rasmala Mr. al Shihabi established Rasmala Investments in 2002. Prior to that he had been a member of the Board of Directors of the Saudi Hollandi Bank, and Chairman of the Board Management Committee. Mr. al Shihabi is a member of the board of the National Bank of Ras Al Khaimah (RAK Bank). He holds a BA from Princeton University and an MBA from Harvard Business School.

Congratulations to everyone at The Wave Muscat.

We would like to extend a warm congratulations to our client, The Wave Muscat, on their recent accomplishments. If you haven’t read the story check it out here. Congratulations, we wish you continued success! Best Regards, The Masterkey Team

Masterkey can help you save time and money.

It’s no secret the world over looms in the shadow of economic uncertainty, and even a market as confident as Dubai is feeling the pinch. Right now, it’s more crucial than ever to ensure you are in control of your business and your future. That means keeping costs low, reaching your goals, and capitalizing on every opportunity. Masterkey is the tool to help maximize your efficiency and productivity in difficult times like these. How? Masterkey… Helps you manage leads better and convert them to sales. Streamlines the sales process, allowing agents to spend more time selling and less time on administrative work. Allows you to manage your sales team and activities more effectively. Increases visibility into sales activities allowing you to review and evaluate peformance immediately. Provides accurate, on-demand reporting, giving you the information you need to make better decisions, quicker. Integrates your marketing information with your consumer website and web portals increasing your visibility in the market. Is scalable to meet your individual organizations growth and budgetary needs. In this period of economic turmoil, you don’t have to settle. Masterkey will help you realize how easy it can be to grow and run your business better. For more information about how Masterkey can help your business, download our brochure, or contact our sales team today at sales(at)gomasterkey(dot)com. Best Regards, The Masterkey Team

Masterkey is Hiring: Senior Business Analyst (Closed)

Masterkey is looking to fill the position of Senior Business Analyst at our Dubai office with a highly motivated and qualified individual. Sound like you? Let us know. Send us an email at careers(at)gomasterkey(dot)com with your CV (in MS Word format), contact information and the position applying for, if we feel you have what it takes, we’ll let you know. Key Responsibilities: Acts as the client contact. Manages and reviews the requirement specifications submitted by clients. Carries out high level analysis of the requirements to determine if the requested change/new functionality can be achieved. Manages and reviews changes and new feature implementation for the system. Provides status updates to clients. Manages the issues/requests pertaining to the project and escalates these issues to the relevant member of the project, where necessary. Reviews project activities for compliance with procedures and standards. Manages the flow of information and documents between different teams working on the project. Assists the Project Manager with documentation. May be required to carry out acceptance testing on behalf of the client on complex requests. Conducts and manages overall training (as outlined in the training plan) of assigned clients (both existing and new). Monitors the progress of various teams working on the project  as per the metrics developed by the Project/CRM Manager. Reports primarily to Project Manager, and occasionally to Project Sponsor. Key Skills: Experienced in project management and client deliveries, ideally from a software/telecom background or candidate who has worked in similar domain in a Real Estate industry will be preferred. 5+ years of industry experience, preferably from industry leading IT corporations, with exposure to quality standards. Excellent communication and presentation skills. Strong understanding of user experience and usability. Degree standard qualifications in computer science. Gender preference: Male candidate

Masterkey is Hiring: Content Development Manager (Closed)

Masterkey is looking to fill the position of Content Development Manager at our Dubai office with a highly motivated and qualified individual. Sound like you? Let us know. The candidate will be overall responsible for the complete content development and management, including but not limited to user manuals, training tutorials and website content. Send us an email at careers(at)gomasterkey(dot)com with your CV (in MS Word format), contact information and the position applying for, if we feel you have what it takes, we’ll let you know. Key Responsibilities: The candidate will have to work closely with the analysis team in order to collate information and then go about conceptualizing and creating the content process, which will be user friendly and logical. You will be responsible to design and develop User Manual, FAQs, Customized Documentation, Training Tutorials and Discussion Forums. You may be responsible for visiting the clients in coordination with the analysis team to get first hand information on client’s requirement. Periodic review with the development team to get the latest update on the new features; proactively make necessary content additions and changes from time to time. Reviews project activities for compliance with procedures and standards. Reports primarily to Project Manager, and occasionally to Project Sponsor. Key Skills: Candidate hould have 5+ years of industry experience in content development to include end-user documentation and familiarity with function / requirement specific documentation. Relevant software experience and/or worked in similar position within the real estate industry. Experience with user-training. Excellent communication and presentation skills. Strong understanding of user experience and usability. Degree standard qualifications in computer science. Gender preference: Male candidate

MasterKey is Hiring: Senior Web Designer

We are looking to fill the position of Senior Web Designer with a highly motivated and qualified individual. Sound like you? Let us know. Send us an email at careers(at)gomasterkey(dot)com with your CV, contact information and the position applying for, if we feel you have what it takes, we’ll let you know. Key Responsibilities: Develop and champion a new visual identity across all aspects of the online presence. Web design and development across the website, web applications, and ecommerce platform. Ensure compliance with best practice usability and testing. Develop, implement and test various customer conversion techniques. Liaise with the Development Team over UI and process integration. Key Skills: Experienced web designer, ideally within a commercial/agency environment 8-10 years Macromedia and Adobe experience Prototyping / wireframing tools and techniques An inherent passion for tracking and implementing the latest UI possibilities Strong communication skills Very good English language and literature skills Strong understanding of user journey and usability Degree standard qualifications in design or visual arts/communication. Experience in Swift 3D and Adobe After Effects a plus. *Recent Work: All applicants will need to demonstrate recent examples of their work and describe the design and usability approach that they adopted.

Masterkey is Hiring: Content Development Manager

Masterkey is looking to fill the position of Content Development Manager at our Dubai office with a highly motivated and qualified individual. Sound like you? Let us know.The candidate will be overall responsible for the complete content development and management, including but not limited to user manuals, training tutorials and website content. Send us an email at careers(at)gomasterkey(dot)com with your CV (in MS Word format), contact information and the position applying for, if we feel you have what it takes, we’ll let you know. Key Responsibilities: The candidate will have to work closely with the analysis team in order to collate information and then go about conceptualizing and creating the content process, which will be user friendly and logical. You will be responsible to design and develop User Manual, FAQs, Customized Documentation, Training Tutorials and Discussion Forums. You may be responsible for visiting the clients in coordination with the analysis team to get first hand information on client’s requirement. Periodic review with the development team to get the latest update on the new features; proactively make necessary content additions and changes from time to time. Reviews project activities for compliance with procedures and standards. Reports primarily to Project Manager, and occasionally to Project Sponsor. Key Skills: Candidate hould have 5+ years of industry experience in content development to include end-user documentation and familiarity with function / requirement specific documentation. Relevant software experience and/or worked in similar position within the real estate industry. Experience with user-training. Excellent communication and presentation skills. Strong understanding of user experience and usability. Degree standard qualifications in computer science. Gender preference: Male candidate

MasterKey is Hiring: HTML/CSS Frontend Developer

We are looking to fill the position of HTML/CSS Frontend Developer with a highly motivated and qualified individual. Sound like you? Let us know. Send us an email at careers(at)gomasterkey(dot)com with your CV, contact information and the position applying for, if we feel you have what it takes, we’ll let you know. To be considered for this exciting role, candidates must possess extensive commercial knowledge and experience in HTML and CSS page layout. Additional experience in Javascript, Photoshop, Illustrator, Dreamweaver and Flash will receive a great advantage. Key Responsibilities: Develop identity across all aspects of the online presence. Front-end development across the website, web applications, and ecommerce platform. Ensure W3C compliance with best practice usability, testing, semantic structuring. Develop, implement and test various customer conversion techniques. Liaise with the Development and design teams over UI and process integration. Key Skills: Experienced front-end developer, ideally within a commercial/agency environment 8-10 years Macromedia and Adobe experience Hand coded XHTML/CSS using text editors Javascript, AJAX and .NET knowledge is important Understanding of prototyping / wireframing tools and techniques An inherent passion for tracking and implementing the latest UI possibilities Strong communication skills Very good English language and literature skills Strong understanding of user journey and usability Degree standard qualifications in design, visual arts/communication or computer science. *Recent Work: All applicants will need to demonstrate recent examples of their work and describe the approaches that they adopted to complete production.

Joint Buyer feature now available for masterkey.ae users

MasterKey is pleased to announce the addition of the Joint Buyer feature to users of masterkey.ae, allowing users to connect multiple clients with one transaction. How do I use it? 1. Continue with the normal reservation/sales procedure by clicking on the reserve unit icon (if the unit is currently vacant) or the sell unit icon (if the unit is currently reserved). Click here to see a screenshot 2. Select “Convert this unit to reserved” (if the unit is currently vacant) or “Convert this unit to sold” (if the unit is currently reserved), then click next. Click here to see a screenshot 3. Check the “Joint Buyer” check box, then provide the joint buyer’s name in the “Search for existing joint buyer” field, then click “Search”. Click here to see a screenshot 4. Select the joint buyer’s name and his/her requirement number from the buyer and requirement number drop-down lists. Requirement number selection is mandatory in order for the system to make sure that the transaction is linked correctly to the joint buyer’s client file. If the buyer does not exist in the system, simply click on the “Add new joint buyer” link to create a new client file. Click here to see a screenshot 5. Once the buyer is selected, click on the “click here” link in Step #3 to link the buyer as a joint buyer to this transaction. Click here for a screenshot 6. You will then be notified that the joint buyer has been added successfully. Click here for a screenshot 7. Once you click “OK” the joint buyer information will be populated in the grid. Click here for a screenshot 8. If you need to remove this buyer from the transaction, you may click on the delete icon next to the entry in the grid. Please note that buyers cannot be deleted from a transaction after completing the sales process. Click here for a screenshot Once you have completed the steps above, you can click the next button and proceed normally with the transaction. This procedure can be to add additional buyers to the transaction. If you have any questions about this new feature or any other issues, please feel free to contact your account representative.