The Federal Board of Revenue (FBR) has made the registration of real estate agents mandatory.
According to the FBR, no public or private development authority will be able to do business with an unregistered real estate agent. It will not be possible to transfer or register immovable property through an unregistered real estate agent. The condition will apply to all housing authorities, corporate housing societies and violations will be prosecuted under the Money Laundering and Terror Financing Laws. The sale or transfer of property rights will also be conditional. Real estate agents will have to register as a non-financial business and profession and obtain a certificate of registration.
