Anyone working in the real estate sector understands that the backbone of the industry is the real estate dealers and agents without whom the buyer/seller network cannot be sustained. Over the years, Pakistan has seen a lot of development in the industry, however it is mostly catered towards the buyers. For the First time in Pakistan, the startup Property Wallet, has launched a mobile application that aims to strengthen the very backbone of the real estate industry – the dealer.
Property wallet is a high-tech but user friendly agent organizer, which provides a 360 degree solution to real estate dealers and agencies alike. The concept is based on years of research and experience in the property business, resulting in an application that caters to all aspects of a property dealership. From components such as managing inventories to streamlining everyday tasks, such as creating brochures and payment plans, this application does it all. While there are some international business management applications available, all of them are subscription based and do not specifically cater to the real-estate market, particularly in Pakistan. The Property wallet application, however , was conceived with the idea of transforming the real-estate landscape of Pakistan, hence not only does the app have all relevant features, but it is also available to use in roman urdu with an emphasis on the usage of common real estate terms. And most importantly, it’s completely free to use!
Truth be told, this sounds too good to be true, so we decided to put the application to test! The free sign-up process is simple, with just name, email ID and phone number you can set-up an account and use the app. For agency owners, there is an option to directly add staff members via an agency code so they can fully run their business online. The inventory management feature allows dealers to add their existing inventory, which they can then manage and share very easily. Moreover, the app has an excellent feature where agency owners can manage commissions, simply by setting percentages for each of the projects. Users can also generate reports based on their real time sales and progress. There is also an efficient staff management function, through which agency owners can manage roles, permissions and add or delete staff. And as if that was not enough, the application also has a bunch of other digital tools that users can utilize without even signing up. One, very useful tool is the brochure generator, where all you have to do is input the details of your project and the application will generate a brochure that agents can directly send to clients or post on their social media. Another free tool offered by the app is the payment plan creator, where agents can input details of installments and down payments, and the application will generate a payment plan in seconds. The amount of variations and options for the payment plan is quite impressive, dealers can choose from balloon payments, monthly or quarterly installments and add a variation of discount options. A task that would take hours on Microsoft Excel can be accomplished within minutes through the property wallet application. After using the app, our verdict stands that it is surely one of its kind and has the potential to transform how the real estate market in Pakistan operates. And even though the application provides a multitude of features and generates results and reports with both precision and detail, it is available free of cost.
The property wallet application has four 20-something co-founders, with experiences in working in both the real estate and tech sector in Pakistan. Upon conversation the founders revealed that the idea behind the application sprung when they realized real estate dealers in Pakistan didn’t have adequate support and as new housing projects kept emerging in Pakistan, the dealer community continued to become more fragmented. We got the opportunity to speak to Azlan Tariq, one of the founders and the COO of property wallet. When asked why he thinks there is a need for an application like this, Azlan responded “Pakistan’s property market has been growing despite the pandemic set-back, companies emerging in this sector often try to cut the middle-man, which is the real estate agent or dealer, however we believe that this country’s property market cannot operate without empowering the dealer community. Hence, we launched this application with the aim that we will provide all necessary support and tools to real estate dealers in an effort to organize the highly disorganized industry”. On future plans, Azlan said “The current application is only the first phase of what we want to offer with property wallet, there are big plans for the company in the near future that will cater to rental properties and a buying/selling feature”.
It is true that the property business in Pakistan, perhaps very widespread but is still largely informal, from the lack of proper training and tools to the lack of proper organization, those working in the industry either come from a generational line of the business or learn from those around. There is no avenue that provides the members of the real estate dealer community tools to excel — which is why property wallet can truly transform the future of the industry. By providing all necessary tools, it creates a level playing field, where even freelance property dealers can achieve the same results as large scale agencies. The application is available for download at the Google Play store and the Apple App Store.