According to many reports in 2015, Pakistan’s mobile communications sector has experienced setbacks which have had an effect on many industries, including real estate.
However, the sector, which includes mobile broadband services, has been rebounding impressively despite these challenges.
Proof of this is that of the 30 million Internet subscribers in Pakistan, approximately 80 percent of them have mobile subscriptions. That’s about 24 million subscribers. That may not seem impressive by international standards, but this number represents an increase of more than 60 percent since 2014.
Mobile’s Effect on Pakistan’s Real Estate Sector
The rise of mobile broadband has had a major effect on real estate in a variety of ways. The first and most recognizable effect is reflected in recent customer surveys.
Over 50 percent of Pakistani property-seekers report that they use real estate website and mobile phone apps to search, buy and rent houses, apartments and plots of land. 85 percent of those same Pakistanis believe that the Internet, in particular mobile Internet, has increased over the past 12 months. According to these survey respondents, mobile is transforming the real estate sector in Pakistan.
The next most important effect is reflected in the point of view of the nation’s real estate agents.
Like their customers, the majority of real estate agents–more than 80 percent–believe that mobile Internet has drastically changed Pakistan’s property sector.
Although customer feedback is important, reports from agents in this respect are extremely telling. While property-hunters undoubtedly benefit from the proliferation of mobile and mobile broadband, real estate agents are more profoundly affected by increased usage in property hunting.
Agent Adoption of Mobile a Sign of the Times
Agents must keep up with current technology or suffer great business losses. Their adoption of new technology is a sign that things have truly changed.
By the time that agents catch on to the need for adopting a new technology, in this case, mobile technology, customers are already demanding change. Only the truly forward-thinking real estate agents are ahead of the curve and have fully adopted the mobile technology wave.
Those who have fallen back must catch up……or be left behind.