Real Estate Agents, on the street; don’t use them: The Pros and Cons

Real Estate Agents, on the street; don’t use them: The Pros and Cons

Rent apartment or buy a property without the assistance of a Registered Estate Surveyor and Valuer/ Real Estate Agent, and choose to work with a street property agent/ real estate agent; however, while money might be saved but it leaves you prone to mistakes and regrets.   Onyi Obiamalu Consults a Real Estate agency/ Firm in this article tells you the advantages and disadvantages of using a registered real estate agency/ firm like ours to rent apartment or buy a property than using street property agents in Abuja as well as other states in Nigeria.

The Advantages of using a Real Estate Agency/ Firm than a street property agent:

Estate Surveyors and Valuers/ Real Estate Agent are professionals always have your interest at heart and work on your behalf. Onyi Obiamalu Consults, Real Estate Agency/ Firm always have your back in negotiations and helps you understand the complex lingo in contracts especially for decision making on the type of real estate to invest in.

Onyi Obiamalu Consults, Real Estate Agency/ Firm evaluates the prices of properties that are currently on the market and those that have sold in recent months to determine whether a seller’s asking price is in line with the market value; otherwise, you could end up overpaying for a property. We run a comparable sale/ rent analysis of properties that are similar in size, condition and age of the property you want to buy/ rent; this is so because we have knowledge of the property market.

Onyi Obiamalu Consults, Real Estate Agency/ Firm helps save time for you by making sure you are clear on what you want either purchase or rental of a suitable property type. When asked what you want, you don’t start by saying, “Maybe a Duplex or Bungalow in any location”. Such answer indicates that you really have not decided on the property type you want to buy or rent. All you have to do is tell us what your budget is and provide additional details like whether you want to buy or rent. The information presented will be used to guide us in providing your need.

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The Disadvantages of using a street real estate/ property agent:

Street property agents don’t have your interest at heart. All they do is just to lure you into getting a property either renting or buying. Once they are paid their commission (agency fee), they disappear. And if you encounter any challenge, they are not there to support and guide you through. Sometimes they know there are faults on the property especially one’s for rent but they will never disclose it to you. All they do is lure you into making payments.  Onyi Obiamalu Consults, Real Estate Agency/ Firm can never lure you into obtaining a property with faults not more making you to make payments. We assist you all through in making sure you get a good property that you will love.

There’s issue of Overpayment: the danger of this is that if you become desperate to rent or buy any property type, you may fall victim to fake property agents and end up overpaying for the property; or at most pay into their own pockets and they will abscond with your money. Onyi Obiamalu Consults, Real Estate Agency/ Firm can never exploit our clients even if they are desperate. What we do is to make them calm and educate them on the best suitable property type to buy or rent.

The street property agents won’t provide you with adequate information regarding to any property. Most times you will be misled especially with the fake street property agents. The truth of the matter is that you are saved from a whole lots of problems when you work with a Registered Estate Agency/ Firm.

Most times there are fake property agents out there and you need to be very careful.  This is so because most fake agents do not have a standard and conducive office. Ensure that you engage most of your related communications in the company’s office. Avoid meeting with an agent in a restaurant and fun places. Request for showing of the property afterwards. All related communications and transactions must be done in the supposed agent’s office. Ensure that you are at the right office and not in a connived environment. Ensure that the office address you visited is the same as the address listed on their official website.

The desire to acquire decent and affordable housing has lured a lot of Nigerians into temptations that at times cost them their life’s fortunes. Nigerians are therefore prone to the activities of these fake real estate/ property agents who do not stop at anything to swindle their victims.

Fake agents hardly operate with company account. You can never lose your money while dealing with genuine real estate agents and refund is guaranteed should anything go wrong in the transaction.

A real estate agent that is authentic must be able to provide the buyer with buyer/seller agreement before the transaction. This is an official agreement between the agent and the buyer/seller. He must tell the commission and other necessary information about the transaction must be outlined and agreed together by the parties involved prior to payment and concluding any transaction. The agreement must include the agent’s official brand name, logo and other vital information as well as the buyer/seller.

A genuine and qualified estate agent must be registered with the Nigeria CAC (Corporate Affairs Commission) with a brand name. There must be a registered company/brand name with a verified company registration Number. Do not deal with individuals by preference.

The only way to identify a real estate developer, agent or valuer is to check for their seal. Request if they belong, to Nigerian Institution of Estate Surveyors and Valuers (NIESV), Estate Surveyors and Valuers Registration Board of Nigeria ESVRABON, and the likes. You can report them to the bodies they belong to and they will be charged for professional malpractice and or their license taken immediately. They won’t want to lose their license because it takes quite a lot to get one.

Conclusion

The benefit of using a professional registered real estate agent/ estate surveyors and valuers for your real estate investment cannot be over emphasized. However, it is very important do some research on the company before buying properties through them, so you don’t fall victim to real estate scammers and end up losing your life savings.

Onyi Obiamalu Consults, real estate agency/ firm is here to help you on the right real estate investment with peace of mind.

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