Real Estate Transaction Fee Lagos Nigeria
Real estate transaction fee Lagos Nigeria.
The real estate transaction fee is applicable to letting clients who want a serviced apartment for short let or short stay.
Most short lets are for a few days or a few weeks. The agency fee or real estate commission paid for letting is 10 percent of the value of the rent.
The real estate agent commission charge is a standard 10 percent everywhere in Lagos Nigeria.
But short let and short stay Lagos Nigeria cost far less than regular rental property where clients are required to pay 2 years rent and real estate agents collect 10 percent of the rent value.
In fact, the agency fee for short let is so small that real estate agents often run at a loss when they invest their time and energy on offering short lets that make little money.
Consequently, short let and short stay is one service that most agents decline to offer.
On the other hand, we want the best for customers who come to us for assistance. And so, we offer short lets and short stays.
However, it doesn't make good business sense to run at a loss. Hence, we charge a token fee as transaction fee ONLY for short lets and short stays.
What do we charge?
A token . . . just =N=20,000 per transaction.
However, if you're staying as long as 6 months, the transaction fee no longer applies. You only pay the real estate agent commission.
The transaction fee we charge enables us to be able to offer our clients the best possible service while at the same time ensuring we do not run at a loss.
I hope you understand the dynamics of our business and the dilemma real estate agents often face.
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