A large dose of patience and optimism should characterize a person interested in becoming a real estate agent in Nigeria. This is especially true for new entrants into the real estate industry. The real estate agent acts as a go-between, eliminating the headache of looking for buyers or tenants from the house owner and placing them solely on the shoulders of the real estate agent. Therefore, to be a good real estate agent, you must know how to convince or market your business to both the house owner, and the buyer.

Convincing the Property Owner

This is the first point of business contact to make if you are interested in becoming a real estate agent in Nigeria. First, you have to give the house owner an irresistible deal to make him/her commit to an agreement. To effectively convince, you should first possess the skills of negotiation which is an invaluable asset in the real estate industry. The negotiation involves an agreed percentage which should be fair and mutually beneficial. First, offer the house or property owner an offer that will allow him/her easily agree to the deal.

If you do your assignment well, then chances are that you can strike a considerably high percentage than the normal average. This is apart from the fee to be paid by the buyer.

Convincing the Buyer

Without the buyer, there will be no business. The buyer brings the much needed business to the table. It is therefore necessary that you fully understand the importance of the buyer and commit a significant effort in convincing him/her into taking your business. In trying to convince the buyer, highlighting the positives or edge of your offer is a secret that can reward you significantly.

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The Importance of Trust

Trust is everything in the real estate industry. It is important that the real estate agent is very trustworthy and protects the interest of the buyer. This can be difficult at times, especially when you need to make your own percentage, while also ensuring that the property owner also gets a fair deal. If a client gains your trust, then you are most likely to reap the benefits of word of mouth marketing which happens when the client is happy with the deal. He/she tells his/her friends and families, and they in turn tell it to others.

The viral nature of this type of advertising will give you the much needed boost and exposure you desire. The important first step to take is to first win the trust of your very first client. Continue doing this to all your clients, and with time, you would have formed a community of loyal clients that will trust you with their assets.

Is There a Training School for Real Estate Agents in Nigeria?

There is no straight-forward answer to this question, as most real estate agents are people who have undergone no formal training in this field, but due to their ability to convince and effectively market, they have become successful real estate agents. However, Universities and other tertiary institutions in Nigeria offer courses related to this field. Examples are Real Estate Management, Architecture, Quantity Surveying and several other real estate related disciplines. Although these would greatly help in becoming a real estate agent, they are not a requirement.

Start-Up Costs

Requirements for start-up costs are very minimal. Apart from registering a company name and other related fees to be paid, the start-up costs involved in becoming a real estate agent in Nigeria are not significant. However, if you want to be taken seriously, opening an office will not be a bad idea. This however depends on your level of capital.

But is This Field of Business Lucrative?

This will likely be a burning question in the minds of interested individuals. Yes, it can be very lucrative although it depends on having met some certain conditions. Some of these conditions include being a well known real estate agent within the real estate community. This does not mean that you cannot hit it big when starting new. But like other businesses, it requires a great dose of patience. First, focus on building your network. In some instances, real estate agents hit big ticket contracts that see them earning as high as a hundred million Naira or more!