The Real Estate Business is one of the long-lasting and profitable businesses that has stood the test of time over the years. Do you know that the pandemic in nowhere reduces real estate value? Instead, is 2the value appreciated? As of 2022, real estate is valued at $65 Billion, which is a tremendous footprint.
One of the most profitable careers in real estate is being a real estate agent. This article is fully enriched with relevant steps on how to become a real estate agent in Nigeria and succeed in it.
Steps to Become a Real Estate Agent in Nigeria
As we earlier discussed, becoming a real estate agent in Nigeria is really profitable. Sometimes you don’t need the education to become a real estate agent but you can just partner with agencies and make sales for them to become a real estate agent or realtor.
Below are the steps to becoming a real estate agent in Nigeria.
1. Carry out Basic Research on the Real Estate Industry
Like every other professional field, you can’t jump into it without having prior knowledge of it. Before becoming a real estate agent in any of the states in Nigeria, there are some requirements you need to fulfill first, and this can only be known if you research them.
As an intended real estate agent, you should carry out research to know:
- Basic age requirements: Most Nigerian states demand you should be at least 18 years of age
- Nature of land distribution in that particular state/ states
- Needed capital to start
- Laws guiding the operation of real estate
- The level of risk involved
- The influencers/big boys of the industry
- Needed training
- Needed certifications
- Existing real estate organizations or unions are available in a particular state.
The research on these areas helps you understand what you are getting into; as such serves as the bedrock for the other steps to take to become a real estate agent in Nigeria.
2. Get Fully Trained
The next important step to becoming a real estate agent in Nigeria is to get trained in an accredited real estate institution, whether offline or online. After training, you will be certified and sometimes inducted into the real estate union in that particular state.
Names of verified real estate institutions where you can enroll to learn are:
- The Nigeria Institute of Estate Surveyors and Valuers (NIESV)
- The School of Estate Facilitators
Also, you can apply to study estate management in any of the Nigerian universities. Universities that offer real estate management courses include:
- Bayero University, Kano
- Abia State University
- Abubakar Tafewa Belewa University, Bauchi
- Caleb University, Imota, and much more.
You can get online training from academic sites, such as:
- University College of Estate Management
- Alison, etc.
3. Develop a Business Plan
Having a well comprehensive business plan is a significant step to becoming a successful real estate agent. In the plan, clearly state your goals and targets and practical steps to follow in achieving them. You can make good use of calculators to calculate the virtue finance and turnover of your business as stated in the plan.
4. Register your Business Agency Name
The first exclusionary step to becoming a real estate agent in Nigeria is to register your business with the Corporate Affairs Commission (CAC) and REDAN (Real Estate Developers Association of Nigeria). Firstly, you have to register with CAC to get a certificate of incorporation and verify your business name before proceeding to REDAN. Now, registering in CAC has been simplified as you can visit their official website and begin the application process.
5. Get a Mentor/Connect with Personnel in the Real Estate Industry
For a quicker rise in this industry, you need to get a mentor to guide you. The Mentor should be someone that has achieved feet in the real estate industry. Also, take intentional steps to connect to other more prominent game players on the field. You can meet and connect with them in conferences, submissions, and symposiums. And possible, to join the real estate union or group in your particular state or region.
You should know that the early stages of the real estate business come with its mistakes and problems, it is your Mentor, and your connections, that will guide you through and hold your hands to scale through. You can also save yourselves some level of stress resting on their wealth of experience.
6. Develop an Online Presence
In this digital age, the market is gradually moving into the online space; this is the best place to get clients without much difficulty. According to research, agents with an active online space grow 4 xs more than their average colleagues. You can get a website and a business account on Instagram, LinkedIn, and Twitter to kick-start the process. Additionally, you can get a social media manager to manage these platforms for you if you won’t have time.
7. Advertise your Agency
This is the last step to take to become a real estate agent in Nigeria. Unlike other steps, this is a continuous process.
Use all possible platforms to publicize your agency, and take advantage of technology, family members and friends, social gatherings, and media houses (Television, radios) to sell yourself. Always ask your clients to refer you if they enjoy your services. If you must know, the competition out there is intense, so you need to work extra hard to make a name for yourself.
If you thoroughly practice and optimally implement everything listed above, you are on your way to becoming a real estate agent in Nigeria; a successful one for that matter.