Online Real Estate Discussions: Any Impact on Prices?

Other & Misc Comments
#1

Do online discussions on property forums such as Zameen affect prices in any way - in any real estate project?

There is a lot of discussion about projects in Islamabad. Are prices influenced by these discussions? I have seen some contributors on this forum who have said they decided to buy in a particular sector after reading about all the plus and minus points of various societies.

I have to say, the discussion on this forum is very thorough indeed. Yes many useless posts are there but the smart investor can see which point is true and which is just propaganda. Also, after getting a tip from this forum he can talk to a few property dealers of the relevant area to see what is the real truth. But this forum gives him a lot of information - after that he can visit and meet people of that society to make up his mind.

So my final question if yes there is an impact then by how much? 10%; 20%; 30% or more?

And in what time frame can you feel the effects of online discussion on prices of a project?

#2

I think there is no impact at all and only personal benefit of the members who can get valuable information and buy the property more confidently rather blindly to into it or physically search and efforts…Due to forum they can target the specific areas or recommended by the GURUS…

#3

I am not sure if it does but it should since a lot of buyers and sellers consult these forums for making their investment decisions.

#4

I think its good to give the idea about the place where one person is going to invest....

Indirectly it gives boost to prices as well as causes frustration in people as well...

#5

Dear PK1. Yes discussions are very helpful for the forum users to make thier decisions on purchase or selling thier property.

But the impact on the project? It depends. If more than 70% of the seller or purchasers consult these forums to make their buying and selling decisions. Then definitly these discussions have impact on the projects.

is there any body who can tell the percentage of people using this forum to make their decisions before buying or selling?

#6

I think it does not effect at all.

As in my case I always consult an authentic property dealer and visit site before purchasing.

What I came through this forum is "very few people" give authentic/reliable info. Whereas mostly(means more than 50%) opinion are based on personal liking and disliking.

#7

But Ahmed, I have yet to come across a single authentic property dealer who gives the right advice.

Yes many of them give thew advice they think is best because most of these property dealers know only the sectors and societies they are dealing in.

Either you should meet property dealers of all areas or you have to listen to the crowd. Over here there is a crowd and everyone is giving plus points of his favourite society or sector. You can cross question him and he will give you his explanations but others will also point out the negative points.

You will NEVER get this kind of pros and cons from a property dealer.

#8

Pk1 u point is valid and that's what I mean to say a property dealer expert in societies dealing with will give you more reliable info then a layman(mostly) on this forum. And definitely u'l have to visit couple of them and u must agree the point NO PAIN NO GAIN.

The pros and cons here are more likely personal (expect few contributors).

Plus u must agree how many members are there on zameen.com not more than 500 members. That's not even 1% of people dealing in property.

No offence

#9

Well i think it does not have any impact on the prices, but it do impact the decision/preference of the seller/purchaser.

This forum is very helpful basically for the foreign investors who are outside Pakistan, i mean to say Pakistanis abroad. It helps them alot, where as it also helps people here who get an idea about development, prices, rates etc from this valuable forum.

#10

Well discussions here do had an impact.

Consider this forum as a playing field for the forum members and people sitting in the crowd are not all of them are members contributing, most of them are just following and critically analyzing the real content and BEWARE their are critics as well in the crowd so wise ones are picking up the real idea without interfering and some by directly asking.

Some following as an Investor, some genuine buyers, even some dealers as well, some advisors .

Believe me the crowd is rising !

The question triggers me for the Brad Pitt classic "Fight Club"

Welcome to Fight Club. The first rule of Fight Club is: you do not talk about Fight Club. The second rule of Fight Club is: you DO NOT talk about Fight Club! Third rule of Fight Club: someone yells "stop!", goes limp, taps out, the fight is over. Fourth rule: only two guys to a fight. Fifth rule: one fight at a time, fellas. Sixth rule: No shirts, no shoes. Seventh rule: fights will go on as long as they have to. And the eighth and final rule: if this is your first time at Fight Club, you have to fight.

Cheers

#11

Yes agreed with nasir sb not on prices it just helps in decision making of any move.

#12

Zameen Admin walay hi bata saktay hain k how much people joined and give statistics.

#13

I guess no effect on prices. But after reading alot of threads and the flow of info you get, you cannot be fooled by Estate agents EASILY.

#14

Although prices remain un-affected yet these discussions do help the readers make right decisions at right time. Also, one certainly gets encouraged and tempted to physically visit the sectors/societies, consult the residents and/or property agents to learn about the dynamics of real estate market. Some of the contributors do share very good information that can actually be used to make right moves and ultimately make good financial gains. I wish I were a member of this forum at least an year ago and I am sure I would have made much better gains. Please keep up the good work and Allah will reward you.

#15

At a personal level, I feel the forum has proved to be quite helpful to me. The admin needs to upgrade the portal a bit and I hope this forum will become “Pakwheels” of real estate in coming months!!

#16

Nice question for brain storming. In my humble opinion, this forum is kind of an academic awareness platform about property related subjects. Discussions on this forum whether has any influence on prices of property in either way, cannot be accurately and realistically answered in the absence of following statistics:-

1) What is the percentage of individuals or groups those who are literate and actually consult and read these discussions and finally are able to understand and evaluate the pros and cons for decision making. I guess quite a low percentage. So conclusion of this factor is, this forum in my opinion does not affect the prices of properties in either way.

2) Actually influential and big shot investors manipulate and play with prices of properties. Do we really think our investors have time to sit on internet and read these forum discussions and then invest or de-invest in any kind of property. In my guess it is reverse, actually prices go up or down because of other multifarious factors and discussions are then started here. What I want to convey is, discussions here are as a result of what all has already happened. I hope I made myself clear. So again conclusion is, discussions are result of happenings in property and not reasons/source to happenings.

3) Yes, in case of single piece buying of property by individuals, this may influence the choice of single individual without affecting overall price of property. Someone has already very clearly and nicely mentioned that discussions here can affect the decisions and not the prices of properties.

Good Luck

#17

indeed the forum has proved beneficial in many ways for the newbies like me. It certainly is a good source of real estate knowledge.

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