A 67-day selling window: how should this Jakarta new-build flat be priced?

G

green_garden

Property investor
Two agents have given quite different valuations for a new-build flat in Jakarta. The higher proposal is obviously tempting, but comparable listings that launched ambitiously seem to sit for roughly 67 days before cutting their prices.

Would you start high to leave negotiating room, or launch near the likely sale price to capture the strongest early interest? I’m particularly interested in recent completed sales rather than asking prices or an agent’s pitch. Relevant differences could include neighbourhood boundaries, condition, financing and how motivated the seller is.
 
I’d lean toward the realistic launch price unless the higher agent can support the figure with genuinely comparable completed sales. The gap between the two valuations matters: a small negotiating margin is different from testing an entirely different price bracket.

Is the flat already completed and in comparable condition to those other listings? Also ask how many competing new listings appeared recently, not just how long the current ones have been advertised.
 
One more thing: don’t treat withdrawn listings as sales. Some of those ambitious properties may disappear after two months without completing, which makes the visible 67-day examples look more successful than the whole group actually was. Ask both agents to separate sold, reduced, withdrawn and still-active stock.
 
I wouldn’t automatically choose the lower figure. A flat with a better position within the development, view, layout or finish may not be comparable to one just outside the neighbourhood boundary or in inferior condition. Starting slightly high can preserve room to negotiate if the seller is not under time pressure.

The problem is not “high” by itself; it is a price that attracts the wrong buyer pool and then goes stale.
 
Fatima’s distinction is important, but “new-build” can hide condition differences too. Is this ready for occupation, newly handed over but empty, or still awaiting completion? Buyers may value those situations differently, especially where financing is involved.

I’d ask each agent to identify the three closest completed sales and explain every adjustment they made. If the higher valuation depends mostly on current listings, I’d give it less weight.
 
You could also ask both agents for a written launch plan at their proposed price: target buyer, expected viewing activity, and the exact point at which they would recommend a reduction. That makes the higher proposal testable. If the answer is simply “try it and see,” the seller carries all the risk while the strongest first-week interest is used up.
 
I’m less convinced that an early reduction always ruins the result. If the initial price is only moderately ambitious and there is a planned review after actual buyer feedback, it can be rational. What worries me is waiting around 67 days before reacting. By then buyers may assume either a defect or an inflexible seller, even if neither is true.
 
Agreed that timing is the bigger issue. Financing should be part of the comparison as well: a price that exceeds what typical buyers can comfortably finance may sharply reduce the pool, regardless of how attractive the flat is. The precise effect will depend on Indonesian lenders and the project, so the agents should explain what they are seeing from current Jakarta buyers rather than relying on a general rule.
 
My practical approach would be: verify recent completed sales within tightly drawn neighbourhood and development boundaries; account for the flat’s actual condition and position; count new, active and withdrawn competing stock; then choose a price with a pre-agreed reduction date. If the higher agent cannot justify both the premium and the timing plan, launching closer to the likely sale price seems the safer choice.
 
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