Hi, Saw a notification about FBR mandatory registration for real estate business.
I guess now small real estate agents are going out of business from January 2022. on one side i think it is a good step on the other side I think that’s not appropriate to snatch jobs from millions. what is your take on the development will it help the real estate sector or ruin it?
I think eventually all of them, whether small or large will register with FBR. This push is not from this highly incompetent institution called FBR, but rather from interior and defense ministries to comply with FATF regulations and avoid getting blacklisting.
In the long run, it is good to regulate this highly disorganized sector. Just like in the civilized countries, all businesses should be registered or licensed.
But don’t you think FBR will play favourites? Giving another institution the power to hold over professions like real estate dealers? the small-timers will not survive it!