The Real Estate Exchange differs from its counterparts in that it allows for instant and rapid trading and converts traded assets into liquidity, just as in the stock market, It is distinguished by the fact that the information and data provided about the real estate assets listed on it are accurate and reliable, which gives traders in the Real Estate Exchange peace of mind and confidence in the real estate assets offered there, because the Ministry of Justice, represented by the Notary Public’s Office, assumes responsibility for any dispute—God forbid—that may arise between the seller and the buyer in any transaction conducted through the Real Estate Exchange.

The Real Estate Exchange will have a direct impact on controlling and regulating real estate prices, thereby further enhancing the confidence of its users, thanks to the availability of all verified and accurate data on real estate prices across the Kingdom listed on the Exchange. This will take some time; therefore, the platform has been launched as a pilot version so that property owners and buyers can easily learn to use the platform—especially those accustomed to marketing their properties through real estate brokers—by listing their properties on the platform and market them themselves instead of using brokers—especially since digital technology has greatly facilitated access to properties in all regions of the Kingdom, as well as making it very easy to find the prices of every property listed on the real estate exchange with virtually no difficulty.

There are indicators and data for all properties listed on the platform that reveal when a listed price is unrealistic, in which case the listing is rejected. As everyone knows, supply and demand play a role in real estate prices and are among the true indicators of rising or falling real estate prices in thereal estate exchange—especially since the high level of transparency and credibility, along with the accuracy of the data and information about the property, are clearly evident on the real estate platform.

Based on the pilot launch, an initial assessment of the real estate exchange’s performance can be considered positive, and without a doubt, this real estate platform will help curb price manipulation.

Any issues, obstacles, or areas for improvement can be addressed as the experience becomes clearer over time, and this marks an excellent start for establishing real estate technology across the Kingdom of Saudi Arabia.

*Real Estate Expert