Similar property prices erode confidence in real estate platforms
Poll: Abdullah Al-Salih: The disparity and difference in the price of the same property on real estate platforms has raised many questions about the appropriate and correct price for sale, which put potential buyers in the circle of doubt and confusion in making important purchasing decisions, and the recurrence of this matter may lead to the erosion of confidence among those who deal with these platforms.
Survey: Abdullah Al-Salih
Amlak real estate newspaper conducted a survey with a number of real estate experts about the impact of this discrepancy on the future of real estate platforms and the buying and selling movement.
Abdullah Almoosa: Develop unified valuation standards
<Media personality and real estate broker Abdullah bin Nasser Al-Mousa stressed that the stability of the real estate market is a crucial factor in achieving fair and rational prices. He explained that stability reflects the real value of real estate, which gives buyers and investors a clear vision to make informed investment decisions.
<On standardizing prices, Al Moosa suggested several mechanisms, including the development of unified evaluation criteria based on accurate and comprehensive data for location, area and specifications, and called for strengthening market oversight to prevent unjustified overpricing.
Moosa pointed out that stability reflects the true value of real estate, which gives buyers and investors visibility for thoughtful investment decisions. <Al Moosa pointed out that the disparity in the prices of similar properties negatively affects purchasing decisions, prompting customers to hesitate or look for alternatives. Therefore, he emphasized the importance of achieving a logical convergence of prices while clearly highlighting the individual features of each property. <As for real estate platforms, Almoosa emphasized that unexplained price discrepancies negatively affect their credibility. He called for enhancing transparency by providing comparative analytics and accurate valuation data to build a long-term relationship of trust with customers.
Mousa concluded. "Achieving price justice and transparency in the real estate market is not just an option, but a necessity to enhance trust between all parties and make the market more sustainable and reliable."
Mousa concluded his talk to Amlak by saying: «Achieving price justice and transparency in the real estate market is not just an option, but a necessity to enhance trust between all parties and make the market more sustainable and reliable.»
Ibrahim Al-Shehail: Lack of control over real estate prices
Aqar's CEO, Ibrahim Al Shehail, explained that the platform is committed to providing a seamless and transparent real estate experience for all users. Al-Shehail explained that Aqar does not control the prices of the offered properties, but we are working hard to enhance transparency in the market through a set of measures, including:
Documenting the accounts of all sellers. <Authenticating the accounts of all advertisers through national access before publishing the real estate advertisement. <Matching real estate advertisement information with the issued license. <Matching the price in the issued real estate advertising license and not allowing it to be modified. <To increase transparency, AlShehail revealed the launch of an approximate real estate price index (beta version), which provides average real estate prices in each neighborhood, helping users make correct buying or renting decisions with confidence. This index, in addition to the other measures we are taking, contributes to building a fairer and more transparent real estate market.
