Buyers Tip: 6 key reasons why you need a real estate agent in your next property purchase
If you’re planning to buy a property in Nigeria, there’s a possibility that you’ve popped up your smartphone on one or two occasions to search for “3 bedroom bungalow for sale in Lekki” or “lands for sale in lbeju-Lekki”, or whatever property type you’re looking to buy.
The thing is that many buyers and property investors have resulted in going in for a DIY (Do it yourself) type property searching – after all, any info you might need is at your fingertips online, so they believe.
Dear Investor, Yes we know you can do it on your own. But you really, really shouldn’t. This is likely the biggest financial decision of your entire life, and you need a Real Estate Agent if you want to do it right. Here’s why:
1. They work for you free of charge
Yes! You heard that right. Real estate agents are independent consultants working for many real estate developers in other to get a commission for every property they sell. So, their money comes from the property developers, and not you.
And the truth is that whether you chose to use a realtor or decide to walk straight into the developer’s office to buy it yourself, the price is most likely going to be the same.
2. They have turbocharged searching power
The Internet is awesome, and you can find almost anything! But even with the increase of online property listing websites, a real estate agent has access to even more listings. Sometimes properties are available but not actively advertised. So, a real estate agent can help you find those hidden gems.
Plus, a good local real estate agent is going to know the search area way better than you ever could. So, if you have your eye on a particular neighborhood, but it’s just out of your price range – a real estate agent is equipped to know the ins and outs of every neighborhood, so they can direct you toward a property in your price range that you might never find on your own.
3. They have high negotiating powers
In the Nigerian real estate industry, everything is negotiable. And many real estate agents have the capacity to swing the bills to your own favour. This can come in terms of physical money discounts, mortgage loans, or extended payment plans.
This is possible because most agents work for established developing companies that have many laid down incentives to make their agents comfortable and happy to keep up the good work. And some agents even go to the extent of sacrificing part of their commission to help their clients secure the property.
On the other hand, you might never have the opportunity to find out some of these add-on benefits if you try to play it on your own.
4. They’re connected to everyone
Real estate agents might not know everything, but they make it their mission to know just about everyone who can possibly help in the process of buying your new property.
Mortgage brokers, real estate attorneys, land surveyors, interior designers, home decorators, bricklayers – the list goes on, and those are possible names that you might likely need their services in the future.
5. They’re willing to do the leg work for you
Apart from going to inspect your desired property before you make the purchase – many real estate agents are willing to stand in for their clients during the physical allocation (for cases of Estate lands) to help them get the best spots, while others offer to help their clients process their title and documents.
In many cases, some real estate agents have offered to help their clients get contractors who will fence their estate lands, furnish their homes, and do many other non-real estate-related building tasks that might have been a point of concern for you the buyer – even after the purchase has ended.
6. They’re your non paid property advisor
One great thing about real estate agents is that they wear a lot of different hats. Sure, they’re salespeople, but they are actually trained to do a whole lot more to earn and secure their commission.
Most real estate developing companies in Nigeria are constantly drilling their agents with series of training and workshops – so, their vast property and market knowledge can come in handy any time you need them in the future.
So, whether you’re planning to buy more properties, sell the ones you have, or find out what’s the latest happenings in the industry – you already have a free property advisor in your network that you can call any time any day.
In Summary
So, if you have read to this extent, am sure you must have picked out one or more good reasons why you need a real estate agent when buying properties in Nigeria.
And, whether as a beginner or prolific investor, having a good real estate agent in your network will definitely do you more good than harm, and the most beautiful part is that it won’t cost you an extra penny – as most of them are only out for your satisfaction.
We hope this article helps you in your quest to improve and grow your real estate investment portfolio in Nigeria. You may also want to see our property bucket list for the best properties to buy in Nigeria, and our picks of the best locations to buy property in Nigeria.
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