Tosin Odunfa YOUR real estate / property agent (Victoria Island, Ikoyi, Lekki Lagos Nigeria)

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The estate agency business in Nigeria may be one of the most unregulated industries in the country (not to say that we've done a great job of regulating many industires, case in point: telecoms) and indeed every one and their grandmother is a property agent.


While not completely unregulated in the UK, the barriers to becoming an estate agent are similarly very low, unlike in the US where you must aquire a license. Yet, the severe unprofessionalism that is often witnessed in Lagos is absent in the UK. So, with or without overarching regulation, there is no excuse for shabby, greedy and unprofessional behaviour. All agents whether on the 'right' or wrong side of the NIESV (that discusssion is for another day) should ideally have some sense of professionalism


Knowledgable and professional agents add significant value to their customers in a real estate jungle like that of Lagos where speculation and emotion are two of the main drivers of real estate decisions. Here, it is common to find a lanlord who feels that a particular price is right and is willing to lose money indefinitely until he/she is offered a particular cash amount for their property . (Yes I know, anyone with half a base unit of financial wit knows it is a bad idea)


Agents should endeavour to spend some time aquiring some industry knowledge, (at least buy some of the weekly Real Estate Newspapers and actually read the articles) and learn better interpersonal relations in order to properly educate your clients (Landlords and tenants alike)


An angle that Agents ought to have the ability to weigh in on, is the idea that the landlord is a more worthy client than the seeking tenant (this is especially so when there isn't a fat agency fee waiting). Agents shoud 'go to bat' for their tenants and actively seek the best deal for them, not because agents should be angels, but because it is short sighted to do otherwise. A short-sighted agent is less able to add value to either the tenant or the landlord and and in the long haul is unable to add any significant value or experience to their lives through the trade.


Find a professional real estate agent or you may as well ask your houseboy to find you your next home or piece of investment property.

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