“What’s in a price?”
As the Qatar property market continues to grow, fuelled by unprecedented investment in infrastructure and property, I am struck by one particular aspect of the market which can either support or inhibit progress in allowing sellers and buyers to conclude win-win deals. The topic in question is realistic price setting.
In noting the Gulf Times article (18 April 2012) which highlighted CBRE’s Mr Nicholas McLean’s well made points about the long term benefits of property investment in Qatar, we at Next Home are passionate about being the enablers of win-win negotiations between buyers and sellers – the life blood of property market momentum.
It is vital that a strong emphasis is placed on building “trusted” long term client relationships with property buyers, sellers, owners and tenants. In building these trusted relationships, realistic price setting is critical for all of these client groups.
I strongly believe that there is a clear responsibility on the part of the agent to combine the strategic market knowledge and long-range market view (Mr McLean refers), with the ability to reach a realistic supply and demand balance, leading to realistic pricing for each individual transaction.
The key point here is that over pricing and under pricing can each cause unhelpful negative impacts for buyers and sellers alike; where a trend towards either of these is set, market instability and loss of momentum can result – which is not good for anyone concerned.
Moreover, protracted negotiations – due to price confusion – can result in market inertia on the one hand, and where price points become unrealistic or unreliable, market confidence can be impacted, affecting the property market as a whole and the wider economy.
At Next Home we are always happy to discuss this and other important aspects of the property market with our clients. So, in concluding, I offer my personal guarantee that our advice on price will be based on expert market insight, realism and integrity.
This ensures that our sellers and buyers alike can reach win-win agreements for their mutual benefit and for the benefit of the Qatar economy.
We are here to help so, do get in touch to discuss any aspect of our service.
Wishing you a successful 2015.
Mohamed Aboulwafa, Managing Director Next Home “where people come first”
