If Nigeria were to go into recession, do you know that the real estate sector would enjoy immunity? It doesn’t matter whether the Nigerian economy skyrockets of plummets, there are always individuals looking for a property to own. If you have ever bought or sold a house in Nigeria, you would get to know how important this job is. The real estate business in Nigeria is a very profitable venture most people do.
Real estate agents are people who guide both agents and brokers through the process of property acquisition. In the course of this article, we would show you the process on how you can become a real estate agent in Nigeria legally.
Get some research done on the real estate industry
You need to do some basic research and figure out the in’s and out’s of the real estate business first. This would aid you in the long run in becoming an agent in the field.
Well, it would be easy to meet real estate agents for more insights as you carry out your research. You need to know the pros and cons of becoming a real estate agent. You also should research on how the economy/standard of living in Nigeria has impacted the real estate market.
As an enthusiast, you should get yourself engrossed with the specifics; the levels of risks, the big-time decision-makers in the business, qualifications, laws guiding operations and capital required to start.
Having the necessary training at an accredited real estate agency or even an online course in real estate management is the next step to take if you must become a successful real estate agent. After such training, you are given a certificate to ensure you earn a valid license to operate legally in Nigeria.
There are few real estate schools in Lagos offering programmes to help in this regard. Aside the fact that you get to learn how to communicate and convince clients in purchasing a property, you might get to meet other real estate agents and even companies willing to employ you in these schools.
Have a business plan ready
If you want to become a successful independent real estate agent in Nigeria, you have to make plans. With a plan, you would have to detail the goals and targets that you want to achieve with the capital you have at hand.
Your plan can be amended in the future, so don’t get it twisted that there is no going back. It really helps, If you have penned something down. At least a draft of what you tend to achieve in years to come. In my own experience, I call it the “calculator moment”. Courtesy of the immense use of calculators in trying to figure out virtual finance matters of your business plan.
Register your agency
No one takes an unregistered business seriously. If you are a licensed real estate agent, you need to get your agency registered as soon as possible, so as to look legit in the eye of the public. The Corporate Affairs Commission is a federal body responsible for registering businesses in Nigeria.
Upon the completion of your registration with the CAC, you would receive a certification of incorporation. How to register your business in Nigeria has been covered in this guide. Something else that I consider worth doing, is to register under some associations and agencies for real estate development in Nigeria. One example of such a corporation is the REDAN (Real Estate Developers Association of Nigeria)
Create an online presence
Do you want to show some extra dedication to your craft? Then get an online presence. A website would make do, but an app would be better. This is because an app can get you a lot of user engagement with your customers.
In Nigeria today, there is no denying the fact that real estate agents with online presence are way ahead of competitors in the business. With an online presence, you can engage more clients and potential customers to your business. Try and create a website to achieve this feat.
Have a genuine passion for real estate in general
To become a successful real estate agent, you need to have passion for housing, architecture, building materials, etc. This would give you a natural edge, whilst you are relating to your clients. Your passion would also reflect in a way that your customers would know that you care about your business.
Create a network of connections
In Nigeria, every bureaucratic move hinders on who you know. Without connections, you real estate business is bound to fail. Though, with an online presence, you can scale from that effect. See to it that you are in good terms with other real estate agents, sales brokers, sellers and buyers and other involved parties.
Get yourself an office space/personnel
Following the path to owning a real estate agency means that you would need some contact information. This information would comprise of phone numbers, social media links, emails and most importantly a physical address. Sometimes, clients might want to drop by and have a conversation with you face to face. This is where the need for an office suite comes in.
As a side note, the more clients you get, the more the demand for division of labour would be. At this juncture, you would need to hire staff that would ease your work for you.
Advertise your business
Advertising your real estate agency on the right platform can help draw the right audience and customer your real estate business yearns for. But as a must-do, you need to give your business some exposure. Don’t hand over the fate of your business to connections or a cool spot in an exposed site.
Take advantage of what this century has to offer; technology, innovation and most importantly social media. Some advertising options include TV, radio, newspapers word-of-mouth(which is the most powerful).
Here at NigeriaInfopedia, you can advertise your real estate company brand with us. We get tons of Nigerian visitors daily, so with a nice budget, you can get in touch with lots of Nigerians about your business. Just go to the footer section and click advertise with us, or check the contact us page. If you are are in need of further clarification about becoming a real estate agent in Nigeria, then leave a comment down below.