Introduction:
How can I get a real estate license in Pakistan? If you ask such a question, then you are unaware of the steps involved in getting your first real estate license. The fact is that the process of getting a real estate license can be time-consuming and frustrating. This article will help you out and give you a clear direction on how to apply for this prized stream of income opportunity.
Getting a real estate license in Pakistan is a long and difficult process. There are several steps that you need to go through before getting your license, which can be quite confusing at times. However, this article has been written with the aim of making it easier for you to acquire a real estate license in Pakistan and also some other tips that will help you along the way.
How can I get a real estate license in Pakistan?
The process of getting a real estate license in Pakistan can be very complicated. It involves several steps and procedures. You will need to complete your education and training first, and then pass the exams conducted by the real estate board of Pakistan (REBP). The REBP has offices in every province of Pakistan.
In order to get a license, you will have to pass two exams:
The first one is the basic exam that consists of 150 questions. This exam is divided into two parts: general knowledge and technical knowledge. For each part, you have four hours to answer questions. Each question is worth one point, so if you get more than 150 correct answers on these two parts, your score will be higher than 150 points. If you fail any part of this exam, it will not affect your overall score; however, if you fail both parts of this exam or any other part of your training program, it will cause an automatic failure in all subsequent steps.
The second exam is called the practical exam or practicals exam and it includes 250 questions from all subjects tested during the basic course plus some new questions from other subjects. You need to finish reading all books related to real estate topics including financial management and marketing.
Pakistan is a country of great diversity and with over 80% population of Muslims, it is considered the first choice for Muslim people all over the world.
If you are thinking to get a real estate license in Pakistan then you need to know that there are many ways to do it. You can either get it through your job or self-study. Self-study means you will have to carry out some research on different topics related to real estate and then prepare yourself for the test which will be conducted by various authorities.
The real estate license in Pakistan is a professional license that allows you to act as an agent of the seller and/or buyer. The license has various levels, depending on the number of transactions they want to conduct. The minimum requirement for each level is 5 years of experience as a realtor.
To get this license, you must complete the following steps:
1) Pass the real estate exam conducted by the Institute of Certified Real Estate Professionals (ICREP) or another recognized organization;
2) Pass a state-approved course on real estate;
3) Submitting copies of your professional license from your home country;
4) Passing a multiple choice test administered by ICREP or another recognized organization;
Conclusion:
There are two ways to get a real estate license in Pakistan. One way is with the support of a real estate brokerage firm and the other way is through your own efforts. If you choose to work with a brokerage firm, they will assist you in getting your license and securing jobs that match your skill set. However, if you are planning on doing this on your own, there are numerous steps you'll need to take.
You can apply for a General Reciprocity License which is issued online. This license allows you to work in any state of Pakistan except the Province of Balochistan. After you have completed the online application process and paid the required fee, you will receive an email with a registration number. Once your license is activated and you have paid the required exam fees, you may register for the exams with us. The website also provides some additional info about how to get training for such licenses as well as some shortcuts to take if you come from another country.
