Nowadays, the property market in Pakistan is soaring. People are putting their hard-earned money into investing in property as they see it appreciate in value. With high demand, property builders have their work cut out with new buying and selling trends.
Clients want the best and are on the lookout for unique infrastructures different from the rest. There is no limit to the designs and layouts you can experiment with on your property; however, this will eventually make a builder’s job more complex.
As an outsider, you may not know much, but when you start building your real estate project, you will realize the sheer number of people involved around the clock in building your property. A lot of work goes into getting properties ready for living, from planning, engineering, testing, procuring to designing and finally building the whole property.
It is not a one-man’s job. It is a combination of ideas and skills. Before you embark on your real estate journey, the best thing you can do is learn more about the people who will work for you in Pakistan.
Who is a real estate builder?
A real estate builder has well-rounded knowledge about building a property. They have spent years in school to prepare for their careers and have sound technical knowledge about the nitty-gritty of building. A builder is not your average person placing the bricks to make the wall; they are licensed professionals who look after the building production management.
They work with teams and designate tasks. They are fully aware of the bigger picture and the kind of property that needs to be built. They ensure that all building permits were obtained before the commencement of the construction. They also see whether the property has the necessary road access, gas pipes, and other electricity access. Health and safety standards matter to the builder, and they make sure they are observed during the process. They also manage their micro teams assigned to particular tasks.
Builders can have a dual role- that of a developer alongside the builder’s role. Mega companies, for example, the Chapal Builders, don’t just build new projects; they maintain old projects and keep on looking for new opportunities that they can develop into profitable ventures. The company has built and developed Chapal Courtyard and six other projects this way.
Who is a real estate developer?
A real estate developer is always looking for new real estate opportunities. They are only interested in buying properties, whether they are old or new ones, that they can sell after refurbishing to make a profit.
Once the real estate project is constructed, it is supervised by the real estate developer on the floor. Developers are also responsible for getting investment funding and ensuring that the project is completed on time. Whatever construction and development work we see in Pakistan is mainly with the help of the builder and a real estate developer. A real estate developer must have the required license from the governing bodies to work on your real estate to ensure better quality and safety standards.
What is a Real Estate Agency?
Most agents at the real estate agencies across Pakistan are trained to give you a full consultation on your projects; however, you must be able to rely on your agency to give you the best possible market advice.
A real estate agent can either specialize in property management or be a broker. A real estate agency that works in property management can do many things. They primarily focus on commercial buildings that are either abandoned or worn out. They fix these buildings and revamp them for future sale. Sometimes these real estate agencies will convert commercial properties into residential ones and put them on sale. Most of their work is done on-site, where they are focused on executing the projects according to their vision and plans.
However, suppose a real estate agency is a broker. In that case, they could act as the middle person between the building owners and potential buyers. Such agencies have the legal expertise and the resources to make a sale, and if a builder works with them closely, they could potentially make a sale of the project more easily than if the builder had to do it by themselves.
Many real estate agencies in Pakistan provide both services. A part of their business is focused on building new projects for sale, including residential properties. Another part of their business is buying properties or lands to sell them for a profit. This keeps them floating in the industry and keeps them a step ahead of the competition.
How are all these connected?
There are many misconceptions about the real estate world. The developing and building phases of the construction work are two very different things. Developers are responsible for developing existing plans, while builders are responsible for the building where there is nothing. When a real estate construction project comes into play, two essential people work as the lead. The real estate developer is responsible for obtaining the right regulatory permits; they ensure the property has the right sewer systems, water pipelines, and electrical lines. The real estate developer also ensures that the roads are built leading up to the property.
Once the initial screening is done, the builder comes and erects the entire building according to the plan laid out by the real estate developer. However, note that a builder can often also be a real estate developer, a common scenario in Pakistani real estate.
So if you want to build yourself a house, ensure that you engage a builder and a real estate developer who will often work together to build your vision. Furthermore, there will be many engineers on the floor that a layperson cannot understand. A builder or a real estate developer can ensure that these technical people have the right measurements of your property.
Safety goes a long way. With the help of the developer and the builder, you can ensure all safety standards are being followed at all times, and any materials used in the building process are also tested and certified.