The increase in demand for real estate in Nigeria has also increased opportunities for both investors, and of course, agents.
This opportunity has come with a lot of financial benefits thereby making a lot of people seek – how to become a real estate agent in Nigeria!
Just like investors do, real estate agents also make a lot of money per deal with profits worth hundreds of thousands, if not millions of naira, from both clients.
If you’re looking to become a real estate agent in Nigeria, there’s no better time than now, as the real estate industry is continuously booming.
That is why we’ve come up with this post on how to become a real estate agent in Nigeria to show you all the necessary steps needed to be taken, and how to be successful in the field.
Without further ado, let’s get started!
What Does a Real Estate Agent Do?
A real estate agent is an individual who represents sellers and buyers of real estate. That is, the work of a real estate agent is to look for real estate clients (buyers, sellers, and tenants), and then connect them for a fee.
Why Become a Real Estate Agent in Nigeria?
From working with different clients and visiting many properties, working as a real estate agent in Nigeria offers a wide range of benefits.
As a real estate agent in Nigeria, you’re entitled to some fee, usually a small percentage (10% – 20%) of a successful deal. Also, you get to be your own boss, and as time goes on, you can become a real estate investor too, leveraging your knowledge and experience as an agent.
Becoming a real estate agent in Nigeria is very easy, as it requires little to no money to start. Compared to other careers, most that require a college degree, with similar earnings potential, it doesn’t matter whether you go to the university or not, you can get into this field without any educational certificate.
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How to Become a Real Estate Agent in Nigeria 2023: Step-By-Step Guide
Here’s a comprehensive step-by-step guide on how to become a real estate agent in Nigeria regardless of your location:
Step #1: Get to Understand the Real Estate Industry
To get into this field, you need to understand what real estate is, how it works, all the branches of the business, and so on.
To achieve all these, you need to meet real estate agents for more detailed research. During your research make sure you find out the pros and cons of the business. You need to also research the requirements to become an agent in your area/state.
Talking about the requirements, your research should also include the laws guiding the business, the level of risks, common challenges, what moves the market, and of course the required capital to start.
Read Also: How to Start a Successful Real Estate Business in Nigeria
Step #2: Get Some Training
Now that you’ve understood what the real estate industry is all about, the next thing is to get so training to become an agent.
Although not all real estate agents get the required training, to look more professional as an agent it is necessary to have some training at an accredited real estate agency or possibly an online course in real estate management.
From the basics to how to get clients, convince them, and close deals, you’ll be thought everything. There are few real estate schools in Nigeria offering programmes to help in this regard.
After the training, you’ll be given a certificate to ensure you earn a valid license to operate legally in Nigeria as a real estate agent.
Step #3: Come up With a Strategic Business Plan
Professionals treat this as a business rather than a career. Therefore, you need to come up with a business plan to get started.
In your plan, outline your aims and objectives, as well as all the strategies you want to implement as a real estate agent. In this plan, you also outline the approach you want to start with, as well as your future goals in the field.
As a real estate agent, it is also ideal that you include the amount of clients you want to work with weekly or yearly. This will help a lot. Just make it as realistic as possible, and make sure not to exceed the number. Your business plan can be amended anyways.
Step #4: Register Your Agency
Although a lot of real estate agents in Nigeria don’t register their businesses, some don’t even have licenses and the necessary training as an agent.
I guess you won’t want to be like them. After all, no one takes an unregistered business seriously. More so, if you’re not legally registered as an agent, you may miss out on some big deals from big investors.
To start with, register your business with the Corporate Affairs Commission (CAC), and also watch out for the rules and regulations guiding professional real estate bodies in Nigeria to ensure that you are working in line with the law.
Also, if step one is well carried out, you should know if there’s an associate of real estate agents in your state or local government. If there is, also make sure you register with them and obtain the necessary certification and licenses.
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Step #5: Find Clients
After registering your business and obtaining all the necessary licenses, it’s time to start the business.
As per the work of a real estate agent, looking for clients is your main task. The easiest way to start is to look for apartments or properties up for rent in your area for cheap prices, then connect with people and it will be easy to get tenants for such apartments.
Step #6: Advertise Your Business
It is quite obvious that as a new agent, getting clients will be very hard. Therefore, you can encompass advertisement into your marketing strategy.
You can implement the traditional advertisement method where you’ll write your phone number on a public wall, and also print flyers to get people’s attention.
Better still, you can leverage the internet by running ads on social media like Facebook, or search ads on Google. With these advertisements, you’ll spend a lot, but it will surely pay off as just one successful deal can cover all the costs of advertisement and even leave you with more money on the table.
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How to Succeed as a Real Estate Agent in Nigeria in 2023
Step one to step six above is simply how to become a real estate agent in Nigeria. However, to be more successful in this field, you need to go a step further by implementing the following.
Consider Joining an Established Real Estate Brokerage
As a beginner with just a little knowledge about the real estate industry, starting as an agent under a broker is the best way to become a successful real estate agent.
Real estate brokers or agencies employ real estate agents who will go out there, look for clients (usually tenants and buyers), and get paid per lead acquired.
This really helps as a beginner, as you’re not only getting paid but also learning more about the business. You can do this for a few months to a year before standing on your own.
Be Professional
In a career like this, professionalism really matters. You need to show up like a good businessman while meeting clients like the saying “the way you’re dressed so you’re addressed”.
As a real estate agent, branding is also part of being professional. Make sure you have a business card to give to potential clients, as well as an office to meet clients.
Build Online Presence
Of course, you need a website and some social profiles for your business. Having websites especially is a good marketing strategy, as you can get unlimited free leads from search engines.
Also create a business profile for your business on professional platforms like Linked in, as well as social media including Instagram and Facebook, and post frequently about your business. This is also a way of building brand awareness, as you’ll sooner or later start getting a lot of dms from investors.
Stay Informed
As a real estate agent, you’ll want to know what is happening with the real estate business in your area. This will help you plan your moves, know what’s currently working, locate new construction sites, and also current property values.
Improve Your Communication Skill
Good communication skill is one attribute that you must possess if you want to be successful as a real estate agent in Nigeria.
As we all know, it is very hard to convince or sweet-talk Nigerians especially when money is involved. As an agent, to get a client you must come up with a good pitch that you know will make people want to work with you.
To achieve this, come up with different pitches, and look for a friend to act like your client. Use all those pitches until you come up with the best one.
Networking is Key
As a real estate agent, you also need to have good networking skills. You need to develop your own strategies for finding and connecting with clients in your neighborhood, and even across the country.
You can do this in many ways, but the most effective is to offer a satisfactory service to clients and tell them to recommend your agency to family and investor friends.
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Real Estate Agency in Nigeria 2023 – FAQs
How much do real estate agents make in Nigeria?
An average real estate agent in Nigeria makes from 70,000 Naira to 200,000 Naira monthly salary.
How do real estate agents make money in Nigeria?
Real estate agents in Nigeria make money from a successful deal. That is they are paid a percentage from a successful deal which usually ranges from 10% to 15%.
Is becoming a real estate agent profitable in Nigeria?
Yes, becoming a real estate agent in Nigeria is very profitable as millions can be made just from one deal.
Conclusion
There are many ways of getting into the real estate business in Nigeria, but becoming an agent is the easiest, as you don’t need much capital to start, and no need to worry about property maintenance.
With this post on how to become a real estate agent in Nigeria, I believe you’ve known the necessary steps to take and how to become successful in this field.
Thanks for the illustration , I really look up for the earliest way to be a real estate agent