3 [Lagos] Real Estate Trends to leave in 2016

We’ve compiled a list of trends we are certain will make real estate better in 2017, if left behind in 2016. We hope you share the same sentiment and will join in on this movement! 

Agents: Inspection Fees

It’s absurd when agents request for money before showing or sourcing for a property for a prospective tenant or buyer. Note that this fee is separate from the agency and agreement fees and in reality (global best practices) no real agent should ask you for these fees. Besides, listings of these inspection-fee prying agents will most likely not be up to par with what the tenant is looking for and they soon find themselves spending huge amounts to find a property that suits them. We’re definitely advocating for this trend to be left in 2016!

Prospective Tenants & Buyers: ‘African’ Time

We know it will take a lot more than a blog post to eradicate this national, dare-I-say continent wide problem, but showing up 3 hours late without prior notice or not at all for an inspection is disheartening for every other person involved.  Leave this sort of behaviour in 2016, please.

Landlords: Two years rent 

We wrote a post about unlawful tenancy practices a few weeks ago and yes, collecting 2 years rent is against the law. Apart from the legal facet, it has many negative downsides to both Landlord and tenant – Makes the property less marketable & feasible for a quick letting (especially in this economy), binds landlords to tenant for two years… bad tenant -1 , landlord – 0 

For more advice on real estate trends for 2017 or to find your property before the New Year, speak to a RE/MAX Agent. Call 07026020181