Lease Form Lagos Nigeria - Real Estate Agent And Lease Forms Tip

Lease form Lagos Nigeria - Most Lagos Nigeria real estate agents often present potential tenants with lease forms and then demand advance fee before they even start processing the client's request. Many potential tenants resist because they consider this to be advance fee fraud or 419.

It is customary to hear potential clients say, "show me the property first. If I like it, I will pay for it and then you can collect your commission. I am not paying for anything else".

There was this particularly interesting incident where the real estate agent presented the client with a copy of the lease form, told him he will pay 2,000 Naira consulting fee, and tried to convince the potential tenant why he should pay the advance fee (or consulting fee) often referred to in real estate circles as the real estate mobilization fee.

The client told the estate agent point blank: "You cannot run a business without incurring some cost. And I cannot pay for the cost of running your business."

Another client, after being presented with the lease form and listening to all the story from the estate agent as to why he should pay the real estate mobilization fee, asked the estate agent a simple and straightforward question:

"What happens if I don't like the property you show me? Will you return my money?"

The agent replied, "No. I will keeping on searching until I find you a property you love, a property that meets your requirements. By paying the mobilization fee, you contract me as you agent. The consulting fee is a commitment from you to work with me to get your dream home".

Good explanation. But the client obviously was not impressed.

He said: "Sorry, that does not sound right to me". And he left.

Let me quickly say this at this point.

Not all real estate brokers in Lagos Nigeria demand a mobilization fee. In fact, those who demand a mobilization fee are usually the small time real estate agents who deal with a whole lot of properties that do not directly belong to them.

By that I mean, they do not directly control the properties. That means, they are not the direct agents or direct representatives of the property owners. They are marketers who market any property that hits the market.

When you call any of these class of real estate agents in Lagos Nigeria and request for a category of property in a specific area, their response is usually affirmative.

For example, you may say to them, "I need a 4 bedroom duplex in Gbagada. Do you have any?"

The reply of the typical small agent will be, "Yes, something is available" or "Yes, we have a 4 bedroom duplex at Gbagada".

When you ask for the details, he might say, "Call me back tomorrow or later in the day".

In reality, he may not actually have any information about the kind of Lagos real estate you desire. He simply has asked for more time to search among his colleagues for what is available in the market that meets your requirements. So, when you call him back the next day, he has information for you.

On the other hand, well established real estate agencies transact business only on properties that they actually have control over. That is, properties that they have been given written authority to sell by the owner. And that makes them the direct agent. (They then send out a newsletter and publish in magazines to announce the new properties that have entered the market through their agency).

In this case they have all of the property information. Ask them any question about the property and they have the answer on their finger tips. And when you request for a category of property outside what they have, they simple tell you they don't have what you seek . . . end of story.

Both category of real estate brokers or agents use lease forms. The first category will present you a lease form and tell you the consulting fee is a particular amount of money. The second category of estate agents will present you with a similar form and not demand a consulting or mobilization fee.

What is the essence of the lease form?

The lease form essentially allows the real estate agent understand who the potential tenant it. Among other things, you will fill the following on the lease form. Your:

  • full name
  • email address
  • telephone number
  • nature of business or employment
  • business or employer address
  • next of kin

    . . . and more, depending on the real estate agency you contact.

    Class 'A' real estate agents usually demand a mobilization fee because they do a lot of running around in search of properties to meet the needs of all kinds of potential clients that come their way. And most times, they lose money because the client may not like what he sees and so walks away.

    Class 'B' real estate brokers don't run around. They have direct access to the property. When you call, they give you the description of the property and the exact address. You can visit the property on your own if you wish. If you like it, you start the process of leasing it.

    What category of real estate agents should you use?

    It's up to you. But let me say this.

    Class 'A' real estate agents make you spend money. But then, they do all the running around for you. Class 'B' real estate agents are 'big boys'. They don't run around. If they don't have in their kitty what meets your need, they say, "sorry, we don't have what you seek". And the deal is off.

    Need 'foot soldiers' to do the dirty work for you while you watch?

    Use the local guys. They know the market. They will deliver.

    Simply motivate them with the mobilization fee.

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