Are you looking at becoming a real estate agent in Nigeria?
You’re probably wondering where to begin the process of obtaining your real estate license and then marketing yourself to prospective clients.
It’s critical to have the correct resources and knowledge to assist you during your trip.
Over the last few years, Nigeria’s real estate market has experienced remarkable expansion, with the number of construction projects increasing by the day.
So, if you’re considering becoming a real estate agent in Nigeria, read on to learn everything you need to know about how to get started.
In this lesson, we’ll walk you through every step you need to do to become a real estate agent in Nigeria and start earning commission right now.
Becoming a real estate agent is difficult but achievable. You’ll have to develop an extensive client base, manage your own finances and learn about property values. But if you can do it, you’ll be rewarded with a lucrative and stable career.
To see if you have what it takes, ask yourself these questions:
- Do I work well with people?
- Do I value organization?
- Am I willing to invest my time (and money) into marketing myself?
- Can I deal with rejection?
If your answers to the above questions are in the affirmative, keep reading!
This guide will walk you through every step of becoming a real estate agent in Nigeria.
First, we’ll discuss how to become a real estate agent in general—and then we’ll cover all of the specifics for becoming one in Nigeria.
Ready? Let’s get started!
1) Realize that becoming a real estate agent requires hard work:
There are no shortcuts to success. Becoming a real estate agent is no different. It takes time, effort, and dedication to succeed as a real estate agent—but if you put in those three things, you’ll reach your goals sooner than later.
The most successful agents spend between 15-and 20 hours per week on their business. When they aren’t spending that time on their business, they’re working toward getting more clients or improving their skillset (more on that below).
To succeed as a real estate agent, plan on devoting at least 20 hours per week to growing your business. Realize that becoming a real estate agent isn’t easy, but it is possible.
2) Realize there are many types of real estate agents:
In order to become a real estate agent, you first need to decide which type of real estate agent you want to be.
Most people think of a real estate agent and immediately picture someone who sells houses.
However, there are actually many different types of realtors – including residential sales agents, commercial streamline sales agents, and even land brokers.
Realizing which type of realtor would suit your personality best will help streamline your education or training process (since some classes/courses won’t apply).
Don’t worry too much about choosing right now – just know that there are lots of options out there!
3) Understand that real estate agents must complete specific courses and licensing requirements:
Becoming a real estate agent involves completing certain courses and obtaining certain licenses. Some states require new realtors to take continuing education courses each year, while others require only a license renewal fee each year.
Real estate licensing requirements vary by state, but there are certain core requirements that every state has in common.
Before you start learning about real estate, make sure you understand your state’s specific licensing requirements!
4) Figure out whether online or traditional schooling is better for you
There are two main ways to obtain your real estate license – online schooling or traditional schooling.
Online schools offer flexibility and convenience, while traditional schools offer networking opportunities and more face-to-face interaction with teachers.
Both methods have pros and cons, so you’ll need to determine which method works best for you.
You can also read from blogs on real estate such as rarefortunes
5) Choose a real estate school
After you’ve decided whether you want to go online or attend a traditional school, you’ll need to choose a school.
There are many great real estate schools available, but finding one that fits your needs can be challenging.
To find a great real estate school, consider asking friends and family members where they went to school and read reviews on popular websites like Yelp.
6) Consider taking additional courses and certifications:
While completing your real estate program is important, it’s not everything. Successful real estate agents also need to constantly improve their skills and knowledge.
To stay competitive, you’ll need to continually take courses and certifications.
Real estate is a fast-paced industry that changes daily – meaning that you’ll need to be on top of your game if you want to succeed.
7) Join a real estate association:
Joining a real estate association is another important part of becoming a real estate agent. These associations provide educational resources, networking opportunities, and job listings for their members.
Becoming a member allows you to network with other professionals in your area, making it easier for you to grow your business!
Now that you’ve learned about all of the steps involved in becoming a real estate agent, it’s time to build your real estate agency business by learning these 8 steps of becoming a real estate agent in Nigeria
Steps Of Becoming a Real Estate Agent In Nigeria
While the idea of becoming a real estate agent in Nigeria might seem daunting, you can do it!
Here’s how to become a real estate agent in Nigeria and start making money as soon as possible.
Step 1) Ask Questions
You should do some research on what it takes to become a real estate agent in Nigeria. Once you are done, head down to any property management office or real estate office in your city and ask them how they handle agents that would like to work with them.
The property manager will guide you through all of your questions so that you can be prepared for when you make an appointment at their company.
If there is no property management company available, head down to city hall and ask where one would go if they wanted information on starting their own business as a real estate agent.
Local companies will often provide assistance for those looking into starting their own small business. They will tell you what type of license is needed, along with helping you find other agencies that can help out as well.
If none of these options are available in your area, then try searching online for information about becoming a real estate agent in Nigeria.
There may not be anything specific to your location but there might be something similar nearby that you could apply to instead. Either way, being prepared by asking questions ahead of time will make getting started much easier and more efficient.
You’ll also learn more about how others around you got started becoming real estate agents in Nigeria which might lead to additional opportunities opening up for yourself!
Step 2) Ask For Help
Ask all your friends, family, and social media contacts if they know anyone who’s involved with real estate. If you live near or around schools where real estate education is offered, see if there are any alumni or current students who might be willing to meet with you.
You may want to let them know upfront that they’ll receive a discount on their commission once you sell a property (so they can see how much work you put into selling it).
Finally, check online for local real estate associations—they may have membership directories that can help you find someone.
Step 3) Get Proper Training
You must first complete the necessary training to function as a real estate agent in Nigeria. In a complex industry like real estate, it’s easy to make mistakes and go down the wrong route.
Avoid them by getting help, such as by attending seminars, reading real estate investing books, or talking to real estate professionals.
If you are willing to learn, your journey will be much smoother. This could also help you connect with other Nigerian real estate brokers.
While not every agent will become your friend, many would welcome the opportunity to meet for lunch or coffee to discuss real estate investing.
They might even offer helpful advice about what pitfalls to avoid when starting out in real estate!
If you know someone who has been working in a real estate agency for a while, ask him or her to meet up with you.
Ask them questions about their job and see if they’d be willing to look at any plans that you create.
Nothing is worse than making an expensive mistake because of ignorance—make sure that doesn’t happen!
Make sure that everything has been double-checked before moving forward; save yourself from embarrassment later on down the road.
Real estate investment is all about due diligence—make sure you do yours well so that your first deal isn’t your last deal!
Step 4) Get Licensed
In order to become an officially licensed Real Estate agent in Nigeria, you will need to complete some basic training with one of several official real estate education providers.
The Training is delivered by approved institutes and is regulated by the government. It’s also important that you apply for both state (where you reside) and federal (the national level) licenses as both are required by law.
There are three options for getting licensed as a real estate agent in Nigeria: full-fledged accreditation, provisional registration, and operating license.
To qualify for licensing, you must have: Completed secondary school or its equivalent and a degree in the related course is also an advantage but not a requirement
Once licensed, you are permitted to do as much business as possible. To get your license, you must submit an application and proof of your education and employment, pass an exam
After you’ve obtained your certification, you will need to get a letter of intent for each project before you can represent buyers or sellers.
This letter is often obtained from your management office or from a prospective client/customer on company letterhead stating that they would like you to represent them; it must be signed by an authorized representative of their company and there should be no less than two witnesses (the project manager, for example).
Regardless of what type of real estate you work with, start by having all your licensing documents on hand before you begin working so that you never get stuck without them
Step 5) Know The Market
Understanding your market is one of the first steps in learning how to become a real estate agent in Nigeria.
Knowing what people want and how they want it is crucial to your success.
Investigate and chat with persons who are currently working in the real estate market; question about their daily activities and any unique obstacles that only an insider would be aware of.
Going to places where people congregate, such as real estate seminars or homeownership communities, is the simplest way to do so.
Pro Tip: You may also learn more about Nigerian real estate brokers by using social media.
Just search real estate agents on Facebook and see what comes up! You’ll find groups, pages, and individual profiles that can help give you more insight into whether or not real estate is right for you.
Once you have a better idea of how things work, it will be easier to decide if becoming a realtor yourself is something worth pursuing!
There are two kinds of real estate markets. First, there’s an existing market where sales have already taken place, and second, there’s a market for properties that don’t yet exist—in other words, new developments.
Real estate agents involved with existing markets don’t need much more than local knowledge and sales skills.
The new development is something else entirely.
For example, if you can use social media effectively and understand how planning departments operate, you might stand a chance of getting your foot in that door.
You should also develop relationships with those who will be reviewing your license application, such as local government officials or current real estate agents who can offer recommendations on good candidates.
Once you’re licensed, make sure to attend any meetings hosted by industry groups and associations in order to keep up-to-date on important information about real estate trends and best practices within your area.
Step 6) Look For An Agent To Shadow
It’s critical to have some experience when learning how to become a real estate agent in Nigeria.
You can normally do this in one of two ways: by shadowing an agent or by purchasing an agency.
If you want to learn more about how to become a real estate agent in Nigeria, look for agents in your region who would let you shadow them for free. Just make sure that whatever information you disclose during these meetings is kept private (unless it’s public).
Don’t squander your time and money by enrolling in agent training before you understand what you’re getting yourself into.
Find an agent to shadow; they’ll explain everything in further depth, answer any questions you have, and guide you along the route that’s appropriate for you.
While nothing matches hands-on experience, there are other opportunities for newcomers, such as purchasing an existing firm and having access to its marketing materials and selling platform.
This may take some financial investment, but it is also less frightening than starting a real estate agent business on your own.
Step 7) Learn Sales Skills
If you’re thinking about becoming a real estate agent in Nigeria or anywhere else, you probably already know that having strong sales skills is important.
The truth is though, if you can’t sell, being an agent isn’t going to do much for your income. So make sure you develop your own skill set—by taking classes or by reading books like Never Eat Alone.
Also, consider working as an intern with someone experienced in real estate (and business) who can help guide and mentor you as you work toward launching your new career.
You may also want to brush up on your real estate knowledge so you have a firm grasp of how properties are valued and bought/sold.
You should also join an industry association, as many of them provide continuing education classes and other tools tailored exclusively for budding agents.
Even if you don’t go into real estate, sales abilities are beneficial in any business.
The capacity to close agreements and collaborate with people who can help your business expand is really beneficial.
Working with people who already have these talents is the simplest method to learn them.
Look into local real estate firms to see if they provide training or lessons on how to sell a home (including what paperwork you’ll need!).
Of course, you have access to a wealth of online resources; some courses are free, while others may cost thousands of Naira.
Regardless of the class you’re taking, attempt to network with other students and find out how they got their start—a well-established referral may be able to get you on an agent’s radar faster than cold calling.
It will provide you the opportunity to practice real-world selling techniques in addition to getting your foot in the door.
Before making any commitments, inquire about internships and opportunities to shadow experienced agents once you’ve established contact with potential firms.
Get your documentation ready as soon as you’re ready to enroll in real estate school.
Step 8) Build Your Reputation
Once you’ve obtained your license and gained some experience, it’s time to start building your reputation!
Requesting references from prior clients is one way to do it, but social media and online review sites are also important.
You might also offer to speak or give a presentation at a local real estate group.
You’ll have to work hard to get your foot in the door, but you’ll never make it as a Nigerian real estate agent if you can’t get your foot in the door.
When it comes to becoming a Real Estate Agent in Nigeria, one of your most significant assets is your reputation, so make sure it’s good.
The Real estate industry is about more than selling houses, it’s about building communities. It’s about doing something good for society.
And while real estate agents will always be needed, there are many different opportunities within real estate that you can explore and find what you love doing most.
But if you like helping people succeed, then maybe becoming a real estate agent in Nigeria is for you!
We hope we’ve given you some good information on becoming a real estate agent in Nigeria and where your career could take you from here.