The real estate business is one of a kind, a very challenging business market that doesn’t respect any person. Different players are in this game and the journey I must say has a lot of frustrating and happy moments, most especially for realtors, or start up real estate firms.
Real estate they say is the land along with any permanent improvements attached to the land, whether natural or man-made including water, trees, minerals, buildings. Real estate is a form of real property, it differs from personal property of which is not attached to land such as vehicles, furniture and so on.
Real estate is one of the dominating sectors in the world and in one way or the other I found myself in the business, and my eyes have seen a lot in this sector most especially when you are close to sealing a deal between buyers and sellers and the next thing that comes your way is a comma. Sounds funny right? My experience so far in this business has made me come up with this write up. Like the saying goes “it is not over, until it is over”, so it is in the real estate business.
Out of my many experiences in this business, this one made me come up with this write up and it was so sad for me because I had already started smiling at my bank account because we can’t count all the good things money can do to a man right here on earth.
On this particular day as a marketer in this profession, I updated my listing on available properties up for sale at Lekki Lagos online and not quite long I got a direct buyer requesting for the property, and the journey stated at that point. I arranged for an inspection later that day and at exactly that time in the evening, my buyer who happened to be Mr. Ahmed, showed up. I was so happy he didn’t disappoint. We went on to check the property and when he got there and saw the property, it wasn’t up to his taste, and he requested for more options if I had more to show him. Of course, I said yes! And we arranged for another day for inspection because it was a long day after work hours for both parties.
We arranged for a weekend, and when that day came, we went through all the available properties that I had on my listing that matches Mr. Ahmed’s taste. Behold Mr. Ahmed, eventually found one that he liked out of the 6 properties we went out to check that very day. It was a busy and stressful day indeed. I have confirmed the price of the house Mr. Ahmed was going for from the direct owner Mr. Ngozi, just few days ago, and in fact it was less than a week. The property was going for #150million naira as at that week. Meanwhile, my client Mr. Ahmed, insisted I should give him till weekend so he can bring his wife to also come and check the property out if she will also like it. That week went by and the following week after my client had made his decision to get the property, I placed a call to the owner Mr. Ngozi, that I have a buyer who is ready to get his property for an offer #130million naira that he should forward his email address so I can forward an offer letter and start the transaction process.
My people guess what? Mr. Ngozi replied and said his property is now going for #180million naira in less than a week, that dollar has increased, and the value of his property too has gone up too. I was amazed with all the back and forth on negotiating the price but Mr. Ngozi, insisted that his price cannot go below that amount. I placed a call to Mr. Ahmed and explained to him and he complained bitterly that it’s too much and he can’t afford such. At this point my hope was dashed. I tired convincing him, and I told him I will get more properties at a lower price for him in that same Lekki Lagos that matches what he wants.
In essence, what am I trying to bring out from this story? In the real estate market, buyers need to understand that properties don’t stay too long in the market. Once a buyer gets the property he wants after inspection, the buyer should go on to arrange for meeting with the owners and confirm property documentation after which the buyer makes payment. This process needs to be carried out as quick as possible to avoid another buyer getting it, because you might not get another property as good as that. The real estate market is based on who pays first. The person who pays first becomes the owner.
