10 Worst Pieces of Advice We Have Ever Heard About Realtors in Nigeria
We have heard a lot of stories about realtors in Nigeria and these stories, good or bad has created the worst set of advice that unfortunately a lot of people take in without questioning the premise behind those stories.
The real estate market has seen a lot of drama from sellers to buyers and of course, realtors. These dramas have created scenarios where most realtors have to work so hard to maintain their integrity simply because they want to change the narratives.
Here are the 10 worst pieces of advice we have ever heard about realtors in Nigeria and why you should ignore them.
1. Why should you hire a realtor when you can get what you want online?
This is one of the worst pieces of advice we have heard about realtors. In fact, it is the first on the list. With so much emphasis on the amount of information readily available online, most people will warn you against hiring a realtor when you can easily get any real estate property online and by yourself. It is true that you can get almost all of the information you need about real estate properties online but most of the information you see online are not accurate. Sometimes, you could even get scammed if you are tricked into paying for a landed property through a fake online channel. Most of the properties represented online are not the way it is in reality and that is why you need an experienced realtor to protect you from scammers and fake property transactions.
2. Realtors are uneducated and inexperienced people looking to make money
Most people believe that realtors are young people looking to make quick cash without necessarily undergoing proper education and experience. Yes there are inexperienced realtors but a majority of them have been schooled through the market and have gathered experiences that have helped them to build a solid track record in the real estate industry and it is advisable to use an educated and experienced realtor that is more knowledgeable than you in the real estate market in order to land a proper deal.
3. Realtors do not possess enough neighbourhood knowledge
This is another worst piece of advice. Realtors are groomed to know every detail about the neighbourhood in which you will be interested in making a real estate property purchase. Agents also know where to find the industry buzz about your neighbourhood and they can help you identify comparable sales as well as hand over the facts to you. A realtor can also tell you more about the demographics of a neighbourhood, crime rate, proximity and a lot of other information that will be of great importance to you.
4. Realtors select prices of real estate properties for buyers and sellers
This is a false belief and bad advice. Realtors are meant to help guide you through into making the right choices. Realtors will always weigh the data supplied to you in order to help you choose the perfect price. Based on demand, market supply, and conditions, a realtor will devise the best-negotiating strategy.
5. Realtors only like Buyers with large money
This is one of the worst pieces of advice you will hear. That it actually happens sometimes does not mean it is totally true. A professional realtor will always work with you irrespective of your budget and it is advisable to work with a sincere and professional real estate agent with proven track records as well as set a standard selling price that you can be firm with.
6. Realtors do not take contracts seriously
Professional realtors take contracts seriously. In fact, they are good at handling large volumes of paperwork. Real estate agents take contracts serious than we can imagine and as such there should be written agreements with the help of a lawyer. A real estate agent can always watch your back when there seems to be a dispute with the contract and that is why it is advisable to work with professional realtors who know the business very well.
7. Realtors are bad with recommendations
Now, that is another bad advice. Real estate agents always network with other professionals in the industry and these professionals are liable to provide you with real estate services. Realtors can give you a list of preferences of whom they have built trust over the years as well as help you make a wise selection by providing you with background information about the people you will be working with.
8. Realtors Negotiates for their best interest
Most Nigerians see realtors as greedy people who do not have your best interest at heart and this has made some real estate investors believe that realtors can never negotiate for their best interest. Great realtors negotiate very well because they are skilled at it and it is part of their job description. Good realtors are trained to handle the case of their clients well as well as keep the client’s information confidential.
9. Realtors do not know what’s next after closing a deal
This is bad advice because professional realtors are trained to solve some problems that may result after a smooth deal or transaction. These problems could result from certain taxes, mix up of invoices, stamps on documents and a lot more. Your realtor can help you fix all those problems with great ease. Good realtors are always on standby to readily assist you even after closing a deal.
10. Realtors do not know how to build and keep relationships
Building relationships is a vital part of every professional realtor’s career and that is bad advice when one says realtors are lousy at building and keeping relationships. Yes, there are some eggs in the basket that may be spoilt but not all eggs are definitely bad. To continue their career, realtors will always need referrals and that is one of the reasons they value relationships with their clients. Realtors will always ensure that their clients are happy and satisfied during and after a deal. A realtor who is good at his job will always be there for you so you can use his services when you need him or her again.