Defence and Clifton Association of Estate Agents (Regd)

Pakistan, real estate sector, is growing day by day. Due to many on-going developments in the cities, investors, purchasers and sellers are trying to do their business through a safe-hassle free portal. Real estate agents play a major role in the realtor sector. From fulfilling property demands to agreement deals. They do the entire work on behalf of the sellers and purchasers. But in the end, they do not get the deserving commissions which are decided before the deals. No proper documentation is made for realtors or brokers.

What is DEFCLAREA?

One association has taken a step forward to ensure that all brokers and realtors are paid in a proper way to encourage the real estate sector. It is known as DEFCLAREA, it was initially launched in May 2010 in Karachi, and it is a joint venture of two significant association in the city known as Clifton associates and Defence associated. DEFCLAREA united realtors of both societies, it has more than 800 registered members and 8000 realtors working in the real sector field. The primary purpose behind is to supervise the real estate activities and promote realtor sector for a safe fraud-free environment. The foundation was formed to make the dealing systematic, obeisance to Law & order, end the lankness of property documents and ensure all properties have proper ownership documents and last but not the least to finish the frauds of commission system.

Defence & Clifton Association of Real Estate Agents (DEFCLAREA) has issued an S.O.P. that will be followed by all Sellers/Purchasers/Brokers and Agents. The S.O.P.s will be obeyed 100% by all registered members.

S.O.P for Brokers Community

Respected realtors/brokers, for the facilitation of our brothers S.O.P.s, are introduced which will make commissions safer, ensure a smooth flow for business and maintain trust along with excellent results.

Sale/Purchase Properties Deals:

• Defence Clifton properties for Sale/Purchase, Terms and conditions should be followed given below.
• 2% commission on Sale/Purchase, should be mentioned clearly in the agreement.
• Complete agreement copy should be with the broker to ensure payment of commission on time.
• Agent commission Pay order should be made according to Unofficial agreement / Fair market value. On the time of transfer, Pay order should be available so Sale/Purchasers cannot do unfair dealings.
• If more than one broker is involved in a deal than he/she should be mention in the sale agreement.
• Agents who will deceit their partner agents on decided commissions and not obey the above mention rules, their licenses will be cancelled.
• Those agents who work on half commission or 0.5% commission will be fine, and even then if they did not stop charging the above-mention amount, their names along with pictures would publish in the newspaper and memberships/licenses will be cancelled.
• Sindh Revenue Board (S.R.B.) tax will be applied to Buyer/Seller, not to Agents.
• Any party who decides to forfeit from the deal of Sale/Purchase, in this case, both Buyer/Seller are required to pay 0.5% commission to the agent.
• Deals without documents are not accepted, Receipt of Agent/Buyer/Seller is essentialness.

Rental Properties Deals:

• In Defence/Clifton Rental deals which include flat, shop, house, portion, or factory area. Commission amount will be the same as the one-month rental amount of the property taken on rent. It is essential to mention it in the agreement.
• On the time of payment on the rental property, the broker commission should be paid.
• If more than one broker is involved in the rental deal, he/she shall be mention in the Rent Agreement.
• On Rental Renewal, 0.5% commission will be charged by agent/broker.
• Copy of rental payment should be submitted in the nearby police station under 24
• hours after the deal is completed, the submitted copy receiving should be given on a priority basis.

All Respected registered DEFCLAREA Members are requested to obey 100% on the rules mentioned above and regulations; SOPS; if not followed, DEFCLAREA will not be responsible for deals of Rental/Sale-Purchase deals.

Issued by: Noor Ahmed Abrejo. President DEFCLAREA