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High Cost Of Estate Agent Fees In Lagos And Beyond - Properties - Nairaland

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High Cost Of Estate Agent Fees In Lagos And Beyond by wasamtech: 11:01pm On Oct 22, 2014
Hello all,

Its high time we talk about this problem otherwise we will all be suffering in silence.

Most people had gone through this rip off and some are about to go through same. Correct me if am wrong, in the 80s and till late 90s, agreement fees were charge by lawyers and paid by the landlord at the rate of 10% of total rents, but the reverse is the case now. I remember l use to deduct 10% of my father's rent to give to his lawyer as management and agreement fees.

With the advent of agent, the fees were doubled or tripled overnight with no explanation. A potential tenant is now forced to part with over 80 to 100% as fees for just been a go between the landlord and tenant and only to disappear after the accommodation has been secured no more no less.

Why should l part away with 80% of my rent for no value?

Why can't the agent be called upon when there is dispute?

Definitely the money is just a total loss.

Most times when you are seeking or searching for accommodation, you are faced with a cheap apartment but the agency fees would just put you away. Its cheating in broad day light and something should be done about this. I would love if people can rise to protest this via any means until government put a stop to this.

Lets share our thought on this.

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Re: High Cost Of Estate Agent Fees In Lagos And Beyond by Pptyconcession: 8:36am On Oct 23, 2014
well please dont be annoyed. Correct me if I am wrong,I guess you are a client or probably an accomodation seeker.

You need to really understand the functions of an Estate Agents. They are people of Noble careers and their job can not be underestimated.
what I can say is that if it can be reduced to a fix 5% agency fees it would be better.

Maybe I am wrong.
Re: High Cost Of Estate Agent Fees In Lagos And Beyond by Profuzi: 2:55pm On Oct 23, 2014
Hello All,

Boardroom Nigeria (www.boardroomng.com) is carrying out a research on real estate in Oniru – Lekki – Ajah axis. We wish to solicit the support of all estate agents in carrying out this study effectively by completing the following survey carefully and in the best way possible. This study is purely for research purposes and therefore your response will be treated with strict confidentiality.

Please click on the link below to access the survey, we will only take 5 minutes of your time.

Thank you for your anticipated cooperation.

http:///forms/0RQWLrnbzQ

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