Real estate Agencies Lagos Nigeria - Free Real Estate Agency Tips

Real estate agencies Lagos Nigeria - Many real estate agencies in Lagos have consultants who are property specialists. These consultants understand the Lagos real estate market and have spent years in the business of property sales, apartment rental, and property management.

Consequently, they are a great resource when searching for homes for rent or homes for sale in Lagos Nigeria.

To get the best value from real estate agents in Lagos Nigeria, you need to first understand how they work. Based on that, you can then fathom the best way to work with them for optimal result.

Let's explore this subject. Let's start with how the average real estate agencies in Lagos Nigeria work.

Real estate consultants and agents in Lagos Nigeria are part of a large network of business people involved in real estate sale, letting, and property management. The formal institute responsible for the activities of real estate consultants is Nigeria Institute of Estate Surveyors and Valuers (NIESV).

However, most real estate agents don't belong to this institute. The majority are ordinary people who got into the business of real estate because they simply want to make a living. And they were attracted to the real estate business because the property business model does not require . . .

  • huge startup capital
  • huge investment in terms of office space
  • huge investment in stock holding
  • huge inventory cost and
  • huge capital investment in terms of other business necessities

    Another good thing about real estate business . . . the back-off cost or exit cost is low when a real estate agency decides to close shop becuase of low profit or poor business results.

  • In simple terms . . . the real estate business is pretty attractive because of low startup and operating cost coupled with potential for high return on investment. This is a businessman's dream!

    And that is why there are so many touts and quacks in the property business in Lagos Nigeria!

    Now, back to how these real estate agencies work in Lagos Nigeria.

    Real estate consultants and agents pass information from one person or agent to the other through . . .

  • word of mouth
  • publishing of weekly newsletter
  • advertising in free real estate forums or Nigeria market online and
  • advertising offline in real estate journals and local Nigeria newspapers

    So, how do you work with these agents to get your dream home?

    1. Choose real estate agents that strike you as responsible individuals. Don't work with touts

    2. Work with agents that have a reputation to protect not faceless individuals

    3. Work with agents that have offices or a reliable means of contact (having a physical office is not essential in the real estate business. Many small real estate agents work from home. It is a great way to cut operating cost)

    4. Work with multiple brokers. You get results faster.

    5. Don't be shy to spend money. Pay consulting fees or real estate mobilization fee to brokers that look responsible. Besides, you can sometimes cover the transportation cost of these agents when they take you on property tour.

    That is a great way to motivate real estate brokers or real estate consultants to work for you. It tells the real estate broker that you are not stingy and that you will be willing to pay his real estate commission in-full and on-time when the job is done.

    Real estate consultants and agencies are a great resource. Use them creatively to get your dream property.

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