IS A COMMISSION FROM A REAL ESTATE BUSINESS PERFORMED ETHICALLY ALLOWABLE?
The real estate market in Pakistan is one of the fastest growing in the world right now. The rising number of people has motivated many to see real estate as a viable financial vehicle. Consequently, competition is heating up in this industry as well. Every town needs a real estate property guide. The issue of whether or not real estate or broker services are halal or haram arises out of a natural curiosity about the norms and regulations of Islam. So, let's talk about it using a variety of sources and scholarly evaluations.
Dr. Israr Ahmed was recently interviewed on a talk programme and asked whether acting as a broker or intermediary is acceptable in Islam. Dr. Israr comes to the conclusion that a broker is allowed to accept compensation from both the seller and the buyer, implying that brokers are allowed to function in certain contexts.
But alas, that is not the situation. As long as the commodity being broker is Halal and the procedure does not entail falsehoods and deceit, brokerage has been declared permitted by Muslim scholars throughout the years.
Emirate city is going to be Pakistan first technology hub. The society is building in accordance to Islam, technology and modernism.
Islamic Perspective References:
Upon being questioned about the practise of compensating a broker, Imam Maalik said, "There is nothing wrong with that."
In the "chapter on the earnings of a broker" in "Sahih al-Bukhari," the esteemed Islamic scholar Imam al-Bukhaari remarked, "Ibn Sireen, 'Ata,' Ibraaheem, and al-Hasan did not perceive anything wrong with the salaries of a broker."
Someone in Darulifta wondered whether it was permissible to earn commissions from showing clients different types of real estate, such as apartments, rooms, and plots of land, as part of an Islamic business model. How about the Islamic law?
Working as an agent or broker to facilitate the sale or purchase of an apartment, home, or plot is permitted under Shariah, and the fee agreed upon between the buyer and seller may be paid to a third party. A necessary need is that there be no intentional or careless lying or misrepresentation involved.
Conclusion:
If you're looking for a pristine investment opportunity, go no farther than the real estate industry, where you may earn a commission or a salary without tainting the process. Within the framework of Islam, this is acceptable. Al-Raheem Associates is the ideal choice if you are seeking for a well-authorized real estate advisor in Islamabad.
