Pakistan is an emerging market of South Asia in terms of real estate. The reason behind this is extra-ordinary increase in population. For that purpose many known business tycoons are interested to invest in real estate. However, currently real estate agents in Pakistan hold monopoly in this area. However, majority of real estate agents operating in Pakistan are unregistered. No company, other than us care more about their customers than anything else. Therefore, it is highly recommendable that whenever you engage in sale and purchase of property, do it through verified real estate agents. Moreover, engaging through registered property advisors decreases the risk of fraud. It is worthwhile to mention that we have initiated the process to register real estate agents which is underway. More than 5000 agents have so far been registered with us in Lahore, alone.
Registered agents are prohibited to engage in all kind of activities in Pakistan. This section deal exclusively to provide complete information to advisors regarding:
Real estate agents can register themselves with government authorities under Section 5 of THE PUNJAB REAL ESTATE AGENTS AND MOTOR VEHICLES DEALERS (REGULATION OF BUSINESS) ORDINANCE, 1980. In short, they can simply make an application to government authority to get themselves register. Afterwards, government will issue certificate to real estate agent. It is also pertinent to mention that trusted real estate agencies earn more because of trust level of people. Furthermore, registered property advisor can work more efficiently than others.
There are multiple benefits that registered agents can claim. Few of them are as follow to give you a bird’s eye view of benefits.
By registering yourself with government authorities you can have an easy access to Government officials. Moreover, you can also take part in different biddings conducted by real estate tycoons because they only trust verified agents.
Registered agents get opportunity to engage in different activities both at governmental and non-governmental level. They attend different seminars which help them to develop relationship with other real estate agents and tycoons.
By resorting to above mentioned methods an agent can increase his business knowledge. Furthermore, it will also help him understand new ways to enhance his business module. These activities will eventually increase his profit margin.
By registering yourself you can get the commission as per the percentage set by the government. This will serve dual purpose. First, it will help you to pay your tax only on the income that is prescribed by government. Second, this will also help build your trust at government level.
People nowadays seem more concerned about the fraud than any other thing. Therefore, they trust a person that is registered and verified under government laws. It is because they think they can avail remedy against registered agent. Moreover, the trust of people increases when they come to know that the person is registered. In short, people are more willing to deal with registered person than unregistered one.
Finally, in the light of above mentioned benefits we recommend our valued real estate agents to get themselves registered. It is necessary to get tax amnesties-the government offers-and to win trust of the people.
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