Pakistan’s Real Estate Crisis: My Personal Observations and Experiences
By Bilal Amin Bajwa
Chairman, Kala Shah Kaku Real Estate Association Lahore
Member, Federation of Realtors Pakistan
Founder & CEO, Property Presenter Private Limited (A Real Estate Marketing Company)
Founder, Brand of Property (Real Estate Digital Platform)
Founder, Realtor Vibes (Podcast Media)
A Real Estate Analyst, A Real Estate Strategist and A Real Estate Innovator and
MBA Marketing, Excellence Academic Achievement Award (2008), Lahore Business School
I entered the real estate industry in 2012 as the President of PHA, and since then, I have dedicated my career to understanding, learning, and improving this sector. My journey from a traditional real estate practitioner to a digital marketing expert and entrepreneur has given me deep insights into the challenges and opportunities in Pakistan’s property market. This blog is based entirely on my personal experiences, observations, and lessons learned over the years.
Key Issues in Pakistan’s Real Estate Industry: My Personal Observations
- Trading of Files and Plots Instead of Construction
From my personal experience, I have observed that Pakistan’s real estate industry focuses more on trading plots and files rather than actual construction. Real estate should primarily serve the purpose of fulfilling housing needs, yet speculative trading dominates the market. With an annual housing demand of 2.5 million units, I have personally witnessed how this practice has led to a severe housing shortfall. Instead of building homes, many investors prefer flipping files, which inflates property prices without creating real value. - Lack of Government Regulation
In my career, I have seen that there is no dedicated regulatory authority overseeing real estate transactions. This has allowed fraudulent schemes and illegal housing societies to flourish. Many investors and homebuyers suffer due to the absence of government oversight, something I have personally encountered while advocating for transparency and legal protections in the industry. - Unskilled and Untrained Realtors
Having worked in the industry for over a decade, I have personally interacted with many realtors who lack proper knowledge, skills, or formal training. My journey in digital marketing and business administration has shown me how essential education and certification are for success. Unfortunately, many realtors operate without a deep understanding of market trends, legal processes, and professional ethics, leading to misinformation and poor investment decisions. - Ethical and Professional Deficiencies
Through my personal dealings in real estate, I have seen a lack of standardized ethics and professionalism. Many agents prioritize their commissions over customer satisfaction, damaging trust between buyers, sellers, and investors. I strongly believe that realtors must adopt a value-driven approach to business, something I have implemented in my own ventures, including my digital real estate platform, Brand of Property. - Promotion of Fraudulent Projects
I have personally witnessed cases where realtors promote housing schemes without verifying their legal status. This has led to thousands of buyers suffering financial losses when these projects get canceled or face legal disputes. My experience has taught me the importance of verifying every project before recommending it, a principle I emphasize in my own business practices. - Realtors Working Without Legal Business Entities
In my journey as an entrepreneur, I have learned that operating without a registered business entity exposes realtors to legal and financial risks. Many realtors avoid obtaining NTNs and SECP registration, which leaves them vulnerable to fraud accusations and legal investigations. My own business operates as a Private Limited Company, ensuring legal protection and credibility. I strongly encourage realtors to adopt similar legal structures for their own security. - Dependence on Unverified Information
I have personally observed that many realtors rely on WhatsApp groups and social media rumors rather than authentic sources. This creates misinformation and uncertainty in the market. As an entrepreneur, I took the initiative to create authentic digital platforms like Brand of Property to provide reliable real estate news and updates, something the industry desperately needs. - Lack of Professional Development Programs
In my experience, real estate lacks structured skill development programs. When I pursued my MBA and later specialized in digital marketing, I realized how little formal education exists for realtors. There is no proper training in sales management, digital marketing, lead generation, or legal compliance. Additionally, unlike banking and corporate sectors, real estate has no employment security laws, making it difficult for realtors to grow professionally. - No Financial Security for Realtors
I have personally seen how developers, builders, and marketing firms often fail to pay commissions to small realtors. This financial insecurity discourages new professionals from entering the industry. I have made it a priority in my own business to ensure that every realtor and agent working with me receives fair compensation, and I advocate for legal protections to secure their earnings. - No Legal Representation in Trade Organizations
As a member of the Federation of Realtors Pakistan, I have personally experienced the challenges of getting realtors recognized in trade organizations like the DGTO under the Ministry of Chambers and Industry. Despite fulfilling membership requirements, realtors are often denied representation, which I believe is a deliberate move by developers and builders to maintain control. This exclusion prevents realtors from influencing policy decisions that affect their livelihoods.
Proposed Solutions: My Vision for Change
Based on my years of experience, I propose the following solutions to reform Pakistan’s real estate industry:
- Establishment of a Regulatory Authority: The government must create a central body to monitor real estate transactions and approve housing societies.
- Mandatory Licensing and Training: Realtors should be required to obtain licenses and undergo professional training before practicing.
- Legalization of Business Entities: All real estate professionals should register their companies with SECP and obtain NTNs for legal protection.
- Industry-Specific News Platforms: A reliable real estate news portal should be developed to provide accurate market trends and updates.
- Commission Protection Laws: Legislation should be introduced to ensure timely commission payments to realtors.
- Stronger Representation in Trade Organizations: Realtors should be officially recognized under DGTO and other relevant government bodies.
Pakistan’s real estate sector has immense potential, but as someone who has been part of this industry since 2012, I have personally witnessed its challenges. My experience as an entrepreneur, a realtor, and a community leader has taught me that we need urgent reforms to bring transparency, professionalism, and security to this field. I take pride in being a property dealer, an estate agent, and a realtor. I love my work and remain committed to improving this industry through innovation, ethical business practices, and continuous learning.
Contact Me: founder@brandofproperty.com