Real Estate Exchange seeks integrative role among real estate

Poll: Abdullah Alsalih

: After the official launch of Real Estate Exchange, reactions varied on the extent of its impact on the real estate market, providing reliable information on the value of transactions for the geographical area specified by the user with the utmost transparency, and providing services to sort and merge real estate instruments using real estate identity, in cooperation with the Ministry of Municipal and Rural Affairs and Housing.

During the trial launch, the real estate exchange witnessed more than 250,000 transactions, which varied between real estate evacuations, sorting and merging properties, mortgages and real estate financing services.

Amlak newspaper conducted a wide survey on Busa's effects on the real estate sector.

Amlak newspaper conducted a wide survey on The effects of Busa on the real estate sector.

Hisham Al-Aifan: The real estate exchange exists to complement the role of market experts

On the same topic, Hisham Al-Aifan, a real estate expert, explained that the exchange will increase the quality and ease of trading and other services in the real estate sector, pointing out that there are some obstacles such as: The difficulty of inspecting the property and knowing its advantages and disadvantages accurately, which hinders the smooth completion of the sale process, the emergence of some exaggerated offers to raise the prices of the area by its owners, as well as the difficulty of reviewing all the papers related to the property, receipt and delivery.

<Al-Aifan explained that the real estate exchange has added some features such as: The speed of updating deals, with the possibility of having properties displayed at the same time, which allows comparison between executed and displayed real estate deals, and it enhances the work of real estate indicators that have been available for several years.

Al-Aifan added that the real estate exchange has added some features such as.

Aifan also showed that the average buyer does not dispense with the advice of experts specialized in real estate, and added : Those who want to buy still need many specifications of the property that are not available in the real estate exchange, such as the nature of the land, the possibilities of construction, the growth opportunities of the area in which he wants to buy, and its suitability for his personal choices, but the real estate exchange has provided the buyer to see additional data, including the average purchase price in the area he targets, noting that the average price is not accurate and not reliable; sometimes the meter is found at a price in the same neighborhood and also at half the price, and real estate market experts know what the reasons that led to this price disparity, in my view, the real estate exchange exists to complement the role of market experts.

Hisham Al-Aifan concluded by stressing the importance of raising the competence of real estate market workers to read and analyze market data, and the ability to cite it for pricing and negotiation in the buying and selling process.

Abdullah Al Ayyash: A qualitative leap in real estate services

Abdullah Al Ayash, Director of Sima Home Real Estate, said that the official launch of the real estate exchange is a qualitative leap and development in real estate services, as it provides multiple advantages, including the ease of emptying and direct dealing between the parties to the sale and purchase process without resorting to notaries or notaries so that the emptying is carried out remotely and is a very safe process under the umbrella of the Ministry of Justice, as well as the transparency of offers in terms of data related to deeds and mortgage.

Abdullah Al Ayash, Director of Sima Home Real Estate Foundation, said. Al Ayash explained that it is a distinctive service and we aspire to be the strongest among the indices because it draws its data from the records of the Ministry of Justice, and with its newness in the launch, but we should not ignore its success in the trial period as it is based on a huge database and we have confidence in its technical team and information providers that they are working on continuous development to become more distinctive in this aspect.

Al Ayash stressed the importance of the real estate exchange indicators service.

The director of Sima Home Real Estate Foundation stressed the need for those dealing in the real estate exchange to have sufficient experience about the area in which the properties are offered to know the appropriate prices and the nature of the real estate market in it where there is a disparity in prices, stressing that it is a great investment opportunity for these people as they have the ability to analyze the successful deal through his experience and accept the offer of sale.

Abdullah Al-Al revealed that it is a great investment opportunity for these people.

Abdullah Al Ayash revealed the challenges faced by the real estate exchange, which is the extent of the tendency of real estate owners to pay the real estate transaction tax for commercial offers that are in high amounts to offer them on the exchange, which will affect the support of the exchange and the prosperity of dealing in it, (and the situation may remain the same from the supply of brokers and establishments practicing brokerage activity.)

Abdullah Al Ayash revealed the challenges faced by the real estate exchange.