The decision is like ice cream; you need to be quick and fast and else it will be a wastage. This wastage could be sometimes life-threatening, sometimes a loss of opportunity. The question is how this dilemma affecting our decision-making process.

When an event comes into our mind like purchasing a flat or a plot few elements in the path of our decision-making process put a barrier. Fear, uncertainty, outcome, internal and external influences commonly the closed ones like friends and family, lack of knowledge, etc. are the most common elements. Our brain gives us a negative signal when purchasing something big in the course of a decision. Our brain puts us into a dilemma. Let’s say we are on a highway driving a car at 90kmph speed and heading for a destination. All of a sudden a bus from the opposite direction overtakes another vehicle and you have no time to make your decision using your computers or asking for friends; you need to decide in milliseconds. What you would do? You either decided to put your two feet on the brake paddle or you decided to drive through on the very edge of the road. Now it is a question of survival. People make mistakes or make the right decision on glimpse. Most of the road accident occurs due to driver’s indecision and dilemma to take a precise decision.

But how people are making the right decision at the right time? The simplest answer is intuition and vision. When making any decision you have to depend on these two elements heavily. Intuition is sometimes diluted with fear and anxiety. So, it doesn’t work all the time, but vision works all the time. If you are visionary you can certainly make decisions in just 1-3 minutes. And this time is ideal and appropriate for everybody including individuals and businesses. The other factors for making the right decision are knowledge, a survey, and an exit plan. Knowing an area, its future can determine your investment-making decision. If you had done your survey before taking a decision it could add extra value and give you a clear vision of the property’s future.

It is a question of whether you should invest in an ongoing project or a ready project; whether you should invest in Gulshan or Purbachol. Even after these, your decision might turn out wrong. So, you need to have an exit plan. Let’s say you have bought an apartment in Gulshan for BDT 16,000 per square foot and that apartment appeared to be the worst nightmare for you, what you could do? You could have sold it or rented it out. Generally selling any properties especially apartments could be down-turning in terms of ROI unless it is meant for living. So before making any decision it is deemed necessary to have an exit plan.
Floorfly ensures your maximum ROI, an updated market survey in regards to the property, and can provide you a better exit plan.


Share this post:

Related posts:
Future of Real Estate in Bangladesh (Part-6)

The size of the sales force for such a company is already justified, but the size of the marketing teams is more like folly. Who to take care of the website's regular maintenance, who to create contents, who to analyze...

Future of Real Estate in Bangladesh (Part-5)

In 2008 a new business code was implied by RAJUK, and all developments were in effect right away based on the FAR rules. In that building code, the only missing string was the height of the building which I presume...