The low level of digitalization in real estate sector till now, has cost many brokers their jobs and several agencies their established businesses. For affluent, middle and lower level of income groups, the real estate sector is considered as one of the secure and lucrative business avenues. The money inflow from local and overseas investors, has resulted in phenomenal growth of real estate agencies and agents.
Mian Bilal Hanif, CEO of Estate Heights says, several clients, who used to contact the real estate agencies for transaction are now able to post their demand online. That is why working with online portals have become inevitable for relators and Real Estate Agencies. There is also an equal proportion of un-successful business transactions as the listed property’s authenticity is vague but still it has affected the lives of Real Estate Agents, he said.
There is lack of information on how many agencies and agents are working in Lahore. Several associations claim to possess this information but it does not reflect the true and actual Market size or manpower engaged in this sector.