We live in a world filled with the good, the bad, and the ugly. Just as in every profession, there are those who are good and those who are not. The same applies to real estate. It would be unfair to generalize all agents as scammers. However, it is true that the real estate industry, particularly in Nigeria, faces significant challenges due to the lack of strong regulatory bodies or laws that effectively govern who can become an agent and the training they must undergo.
In Nigeria, many real estate agents operate without formal training or certification. This lack of regulation means that almost anyone can claim to be an agent, which leads to a wide range of competency levels. As a result, many agents are simply not equipped with the necessary knowledge and skills to serve their clients effectively. This incompetence can sometimes be mistaken for dishonesty or scamming.
Furthermore, a significant number of agents work on a part-time basis. This often means they are juggling multiple jobs and may not be able to give their full attention to their real estate duties. This lack of commitment can lead to a subpar experience for clients, reinforcing the perception of incompetence.
In addition to being part-time, many agents are not forthcoming when it comes to accurately describing the properties they are marketing. This dishonesty usually stems from the fact that they have never actually visited the properties themselves. Instead, they rely on second-hand information or outdated listings, leading to discrepancies between what is advertised and the reality.
The Way Forward
To address these issues, several measures can be taken to improve the quality and trustworthiness of real estate agents in Nigeria:
- Regulation and Certification: Establishing a robust regulatory body that requires mandatory training and certification for all agents can help ensure a minimum standard of competence.
- Transparency: Encouraging agents to visit properties personally and provide honest, detailed descriptions can help build trust with clients.
- Professional Development: Continuous education and professional development programs can help agents stay updated with industry trends and best practices.
- Full-Time Commitment: Promoting real estate as a full-time profession rather than a side hustle can help improve the level of dedication and service provided by agents.
Conclusion
While it is unfair to label all real estate agents as scammers, it is evident that the industry faces significant challenges. By implementing stronger regulations, promoting transparency, and encouraging professional development, we can work towards a more reliable and competent real estate sector. With these changes, clients can have more confidence in their agents and the services they provide.
BY Kenneth oyakhilome Kenneth ( Founder and CEO Odiana Homes and Properties )
