The Stock Exchange... and the Smart Real Estate Broker
Abdulaziz Al-Issa
With the official launch of the Real Estate Exchange Real estate professionals have begun to take a serious look at the performance, feasibility, and benefits of the exchange, which has become a reality that reveals the prices of properties on the market, and provides real estate information and data to those seeking the truth in the market; this brings greater transparency to the sector. However, the question remains: What must be done to ensure that all parties involved in the sale, purchase, or any transaction conducted through the exchange reap the full benefits without any negative consequences? The answer lies in training and professional development to keep pace with the latest developments.
According to available information, more than 250,000 transactions took place during the pilot period, including 130,000 sales and purchases, 100,000 mergers, and 20,000 real estate financing and mortgage transactions. These figures underscore the exchange’s significant appeal to users and visitors to various real estate platforms; the number of users who visited the exchange’s website during the two-day launch reached 140,000, at a rate of 3,000 users per hour, This resulted in transactions worth 1.2 billion riyals, at a rate of 250,000 riyals per hour, while 17,000 transactions were executed during the first week, totaling 17 billion riyals.
Therefore, The Real Estate Exchange has become a modern tool and platform for listing, selling, and buying real estate. It must be incorporated into the strategies and plans of real estate companies—and real estate brokers in particular— Reading and analyzing data is not a simple skill that practitioners can master overnight; it certainly requires patience and thorough training courses on how to use and benefit from the real estate exchange, especially since savvy brokers will leverage this technology to easily find properties that meet their clients“ needs, while ensuring listings are timed appropriately based on current market prices—a significant advantage for the savvy real estate broker.
It is a wonderful coincidence that today, Sunday, marks the opening of the Cityscape Global exhibition in Riyadh, where 21 countries are showcasing their distinctive real estate projects, in addition to the Kingdom’s presentation of its Vision 2030 projects—another window that will open up many new horizons, especially since the event’s theme is ”Building the Home of the Future." Many will be looking to evaluate the equation: How much will it cost to build a home? And what is the price of a comparable home on the stock market?
