Tag - real estate

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Guide To Becoming a Real Estate Agent – 1
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Tips to Becoming a Successful Estate Agent
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Know Your Rights and Duties Under the Lagos Tenancy Law
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Lagos Ranked Among Least Liveable Cities Globally
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Nigeria falls to 4th Position in African Retail Index
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5 Things to Consider Before Buying a Property for Renovation
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Six Things to Consider Before Renting a New Apartment
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The Top Contractors Changing Lagos’ Office Skyline
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5 Tips for Choosing the Right Real Estate Agent
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Things to Watch-Out for During Inspection

Guide To Becoming a Real Estate Agent – 1

The real estate industry is an exciting industry. It is an industry that carters for one of the three basic needs of man: shelter. A good shelter is a requisite to a good living and a productive society.  It is also a very lucrative industry that rewards its stakeholders with massive returns.

There are many different players in the real estate industry—property managers, publishers, builders, banks, and government agencies, to say nothing of buyers, sellers, and renters. However, the real movers and shakers are the intermediaries, those who constantly move between and communicate with these players: agents and brokers.

The Intermediary Men:

The real estate agent is the workhorse of the industry. He’s a salesman one moment, a buyer’s advocate the next; he’s an analyst, an auctioneer, a consultant, a negotiator, and a marketer; he occasionally performs the services of an appraiser and a loan officer; he accommodates his clients on nights and weekends, and often works well beyond the official stipulated working hours. Read More

Tips to Becoming a Successful Estate Agent

Real estate agency is a highly paying and rewarding business or job, but like any good things, it comes with a catch. There are too many real estate professionals who entered the business for what they perceive as easy big money commissions. Few months down the line,they find out the hard way that they’ve over-simplified what it will cost them to get, initiate and land deals. There are monetary costs and a lot of work is required to be successful.

Too many newbie real estate agents fall within their first year because they didn’t develop a plan and follow it for success in becoming a real estate agent.

The following are some of the “secrets” of  a successful real estate agent:

They return calls and emails at lightning speed: These are the people that get a lead and don’t let it go. They immediately make contact and they follow up. They answer any questions and are happy to stay on the phone with nervous clients. They are the warriors of email, text, and phone and they keep that rhythm right up through the whole transaction, one agent calls it his land, sea, and air approach, reaching out to clients through as many channels as possible in the beginning even using Skype.   Read More

Know Your Rights and Duties Under the Lagos Tenancy Law

Tenant-Landlord relationships in places like Lagos can be very murky. The expectations of the Landlord from its tenants and vice versa may not overlap and this often lead to crisis. Most times, the crisis ends up in a stalemate leading to the tenant arbitrarily settling the score with the landlord on the streets.

The Lagos state government, in 2011, chose to address this very important part of life in Lagos by enacting the Lagos Tenancy Law. It spells out in clear terms the duties, responsibilities and legal obligation of both the tenants and landlords. If you are a tenant or a landlord in Lagos, it is important you are knowledgable about your duties and obligations under the law.

Download the PDF here: Lagos Tenancy Law 2011

Lagos Ranked Among Least Liveable Cities Globally

New analysis from the Economist Intelligence Unit (EIU) has shown that Lagos maintained its position at #137 in a survey examining liveability conditions in 140 cities across the world. Similar to 2014, Lagos ranked with the likes of Damascus in Syria, Dhaka in Bangladesh and other cities in Zimbabwe and Libya.

The liveability score is reached through analysis of five category weights, that consider factors like Stability, Healthcare, Culture and Environment, Education and Infrastructure. These indicators are scored and weighted to produce a rating, where 100 means that liveability in a city is ideal and 1 means that it is intolerable. Lagos scored 39.7. Read More

Nigeria falls to 4th Position in African Retail Index

A.T. Kearney’s 2015 African Retail Development Index (ARDI) placed Nigeria in 4th position, two places lower than its ranking in 2014 as a result of comparatively low true spending and difficult business environment. The Index covers the top 15 retail markets in Sub-Saharan Africa (SSA), ranking each on a 0 to 100 point scale, where a higher ranking means greater urgency to make an entry into the country. The scores were based on market attractiveness, country and business risk, market saturation and time pressure. Read More

5 Things to Consider Before Buying a Property for Renovation

Real estate investment is one of the safest and surest investing avenue you may want to channel your hard-earned cash into. This is because decades down the line, you can still make some good returns on your investment. In Nigeria, owing a property is seen as a way of guaranteeing one’s future income streams.

If you are looking to buy a property for renovation, as against getting a land to erect a structure on, you may have made a wiser decision. This is because, depending on what you intend to do with the property, you can actually save some good money when you go the path of renovation. Read More

Six Things to Consider Before Renting a New Apartment

If you have ever found yourself in the seemingly endless activity of looking for a befitting new apartment, then you will agree with me that this can sometimes be a difficult task. In fact, it requires a lot as no one wants to end up with something that isn’t satisfactory. If you live in Lagos, you really need to do your home work before you part with your hard-earned money for any apartment.

To avoid a regrettable situation, care has to be taken in seeing to some details that tend to be neglected more often as a result of the desperate need to move into a place a.s.a.p. Renting a new apartment entails that the very needful things has to be meticulously scrutinized just so as to arrive at the best of decision.

Here are five things you may want to consider before making a commitment in going ahead to rent a new apartment. Read More

The Top Contractors Changing Lagos’ Office Skyline

The amount of office space under construction continues to grow as developers increasingly make bets that the requirements for prime office space in Lagos will rise. Some of the contractors/construction companies helping these developers build their assets have emerged as market leaders and this infographic seeks to illustrate this. Based on available data collected, this infographic ranks the contractors changing Lagos’ office skyline by number of office projects and size of leaseable office space under construction/constructed.

Over the past 5 years buildings like Churchgate 1 & 2, KPMG Tower, Eko Tower, Sapetro Tower, NITEL & Union House have defined Lagos’ office property skyline. New office development projects like the Civic Center Tower, Heritage Place, The Wings and Nestoil Tower among many others coming up across town are beginning to transform the city’s skyline. Read More

5 Tips for Choosing the Right Real Estate Agent

If you are planning to sell or rent your property, you may want to consider working with a real estate agent to help you navigate the process and eventually find a buyer or renter for your property.

Working with professional real estate agents can save you a whole lot of headache by having an agent interfacing between you and the buyer or renter  (for instance, you won’t have to be the one receiving the calls from interested buyers/renters, arranging for inspection, etc).

However, finding a good real estate agent is not that easy. While you may have a relative or neighbor who is into real estate, it is advisable you critically consider if the person is the right person for the job. You don’t want to loose money due to someone messing up with your valued property.

The following are 5 key things you should consider before you hire an agent. Read More

Things to Watch-Out for During Inspection

One of the most important steps when buying or renting a house or an apartment is the inspection process. This is the stage that gives you an idea of the true condition of the property and helps you towards making your final decision.

It is also the process you have to be most weary of. You may get caught up in the moment and end up making hasty decisions you might regret in the future; no one wants to regret buying their dream home or renting a property only to find out the house is far from what you were made to think of. Once you sign the contract with the agent, getting your cash back may be difficult if not impossible. Read More

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