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Estate Agent Wants Me To Pay 130% Of The Rent As Agent/Agreement - Properties - Nairaland

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Estate Agent Wants Me To Pay 130% Of The Rent As Agent/Agreement by AnonyUser: 10:22pm On Sep 27
Hey guys..
I've been looking for a shop/office for the past 3 months now. I've paid 5k, 3k (x2) 2k (x3) respectively to different agents for form/registration.

After months of searching, just yesterday, one of the agents took me to one available shop, which I really liked. The shop is at 5k/month and I'm to pay 1yr & 6months, which I'm okay with. The problem, however, is that the agents wants me to pay 120k for agents and agreement. Total of N210k for both shop rent, agent and agreement fee.

Is this normal or am I being cheated?
Really need advice and contribution of experts in the house.
Thank you

3 Likes

Re: Estate Agent Wants Me To Pay 130% Of The Rent As Agent/Agreement by AnonyUser: 10:46pm On Sep 27
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Re: Estate Agent Wants Me To Pay 130% Of The Rent As Agent/Agreement by AnonyUser: 11:16pm On Sep 27
Guys pls.. This is urgent.
If u know about this, kindly leave a comment
Re: Estate Agent Wants Me To Pay 130% Of The Rent As Agent/Agreement by SUPERPACK: 11:25pm On Sep 27
Why should the agent fee be more than twice the cost of the shop, is Cubana the agent or what exactly. Better go around shops in the area and ask them how much they paid to secure their shops. At that rate the landlord is building free shops for the jobless agents.
.
@mynd44 help op get more opinions before she enter one-and-half chance

76 Likes

Re: Estate Agent Wants Me To Pay 130% Of The Rent As Agent/Agreement by AnonyUser: 12:05am On Sep 28
SUPERPACK:
Why should the agent fee be more than twice the cost of the shop, is Cubana the agent or what exactly. Better go around shops in the area and ask them how much they paid to secure their shops. At that rate the landlord is building free shops for the jobless agents.
.
@mynd44 help op get more opinions before she enter one-and-half chance

God bless u sir

2 Likes

Re: Estate Agent Wants Me To Pay 130% Of The Rent As Agent/Agreement by AnonyUser: 12:08am On Sep 28
AlexisGrphcs:
U ursef, judge Weda u are being cheated,
Asking annoying question

How am I supposed to know when I have no idea how it works. This is my first time renting. I have no idea how they charge

31 Likes 2 Shares

Re: Estate Agent Wants Me To Pay 130% Of The Rent As Agent/Agreement by ATEAMS: 4:48am On Sep 28
Ok

1 Like

Re: Estate Agent Wants Me To Pay 130% Of The Rent As Agent/Agreement by betcliq: 4:50am On Sep 28
Op looks like a Kid , The Agent na PhD holder

3 Likes 1 Share

Re: Estate Agent Wants Me To Pay 130% Of The Rent As Agent/Agreement by GIANTPLUSHUB: 4:50am On Sep 28
Not normal sir. Shops agreement and commission are mostly cheaper. They are within 15 thousand to 20 thousand each making 30 thousand together or 40 thousand together. So, leave that shop. You never see shop. The agent might have seen that you desperately needed a shop hence capitalize on that probably magga go pay!

66 Likes

Re: Estate Agent Wants Me To Pay 130% Of The Rent As Agent/Agreement by Ekejoestar(m): 4:52am On Sep 28
You are being cheated sir, getting a shop for 5k is cheap depending on the location and the cheaper the shop the cheaper the agent/agreement, the agreement shouldn't be more than 30k but it's better you ask people around there how much they paid.

35 Likes

Re: Estate Agent Wants Me To Pay 130% Of The Rent As Agent/Agreement by taiwofawole: 4:52am On Sep 28
AnonyUser:
Hey guys..
I've been looking for a shop/office for the past 3 months now. I've paid 5k, 3k (x2) 2k (x3) respectively to different agents for form/registration.

After months of searching, just yesterday, one of the agents took me to one available shop, which I really liked. The shop is at 5k/month and I'm to pay 1yr & 6months, which I'm okay with. The problem, however, is that the agents wants me to pay 120k for agents and agreement. Total of N210k for both shop rent, agent and agreement fee.

Is this normal or am I being cheated?
Really need advice and contribution of experts in the house.
Thank you

Very hilarious
Re: Estate Agent Wants Me To Pay 130% Of The Rent As Agent/Agreement by richmond500: 4:52am On Sep 28
K
Re: Estate Agent Wants Me To Pay 130% Of The Rent As Agent/Agreement by wisdomkid: 4:52am On Sep 28
That agent is a thief. 130% minus the rent of the shop? When I saw the headlines, I thought its 30% of the rent. Did the agent went to heaven and register the shop? is the shop located inside WhiteHouse?

That agent na thief 100%... Sorry, 130%

45 Likes 1 Share

Re: Estate Agent Wants Me To Pay 130% Of The Rent As Agent/Agreement by chino4(m): 4:53am On Sep 28
Agency fee in some parts of Nigeria is meant to be 5% of the rent while legal fee is 5% but some scrupulous agent would insist on 10% and even do the work of a lawyer ..Insist on paying agency fee in either 5 or 10% .Try also and impress it on the landlord that the agent wants to collect more money on his shop.

17 Likes

Re: Estate Agent Wants Me To Pay 130% Of The Rent As Agent/Agreement by geesilver(m): 4:53am On Sep 28
If you can manage to get the landlord contact from him or other tenants it would be good you speak to him/her directly on it to be sure you are not been overcharged otherwise the agent might just open another shop for your head.

15 Likes

Re: Estate Agent Wants Me To Pay 130% Of The Rent As Agent/Agreement by TimiOS(m): 4:53am On Sep 28
The agency fee is 10% of the rent
The legal fee is is also 10% of the rent totaling 20% of your rent .

That's the professional benchmark.
Anything other than that is criminality.

I advise you deal with registered estate surveyor and Valuers and stop dealing with all these quack roadside agents.

42 Likes 3 Shares

Re: Estate Agent Wants Me To Pay 130% Of The Rent As Agent/Agreement by Pprecious2020: 4:53am On Sep 28
This is Lagos style

Where's the location

2 Likes

Re: Estate Agent Wants Me To Pay 130% Of The Rent As Agent/Agreement by oladipuposadeeq(m): 4:53am On Sep 28
AnonyUser:
Hey guys..
I've been looking for a shop/office for the past 3 months now. I've paid 5k, 3k (x2) 2k (x3) respectively to different agents for form/registration.

After months of searching, just yesterday, one of the agents took me to one available shop, which I really liked. The shop is at 5k/month and I'm to pay 1yr & 6months, which I'm okay with. The problem, however, is that the agents wants me to pay 120k for agents and agreement. Total of N210k for both shop rent, agent and agreement fee.

Is this normal or am I being cheated?
Really need advice and contribution of experts in the house.
Thank you
that agent is a thief, how will he charge such exorbitant amount even 30k each self get as e get be but still fair talkless of 120k

2 Likes

Re: Estate Agent Wants Me To Pay 130% Of The Rent As Agent/Agreement by saheedbadmus(m): 4:54am On Sep 28
Who does that..why agent agreement and commission go plenty pass rent na
Re: Estate Agent Wants Me To Pay 130% Of The Rent As Agent/Agreement by STINOS(m): 4:56am On Sep 28
Agent fees is normally 10% of the yearly rent. Assuming the rent is 120k per year agent fee should be 12k.

11 Likes

Re: Estate Agent Wants Me To Pay 130% Of The Rent As Agent/Agreement by berbs: 4:57am On Sep 28
He's a thief that is yet to start carrying gun. Walk away.

3 Likes 1 Share

Re: Estate Agent Wants Me To Pay 130% Of The Rent As Agent/Agreement by Hearme(m): 4:58am On Sep 28
Welcome to Lagos. That is how they collect agreement and commission for shop rents. It used to be 50K each before may be the economy has made it increased to 60k each now. Its a shame. Some will even include caution/damages fee.

3 Likes

Re: Estate Agent Wants Me To Pay 130% Of The Rent As Agent/Agreement by Franzinni: 5:02am On Sep 28
Nigerians are the problem... dog eat dog dispensation.

10 Likes 1 Share

Re: Estate Agent Wants Me To Pay 130% Of The Rent As Agent/Agreement by saferoom: 5:11am On Sep 28
Ok
Re: Estate Agent Wants Me To Pay 130% Of The Rent As Agent/Agreement by ccollins(m): 5:14am On Sep 28
Stop going to agents, they are crooks and criminals. U must be enlightened that its better and appropriate to consult a lawyer when in need of properties to buy or rent. A lawyer is in best pole to help you in getting properties without hassles.

1 Like 1 Share

Re: Estate Agent Wants Me To Pay 130% Of The Rent As Agent/Agreement by adolfHitler1934(m): 5:14am On Sep 28
This must be in ENUGU...na their way be that.
I have never seen a place like that where thieves go about in the name of Agents robbing people.
Agent and Legal fee are always higher than the rent.
The Landlords are also accomplice to this crime against fellow citizens. Enugu is the most expensive place to find a decent accommodation or shop.

Tufiakwa!

7 Likes

Re: Estate Agent Wants Me To Pay 130% Of The Rent As Agent/Agreement by Rickles: 5:15am On Sep 28
You're looking for a shop and the agent decides to open his own shop on your head. Pls run

7 Likes

Re: Estate Agent Wants Me To Pay 130% Of The Rent As Agent/Agreement by nativedoctor(m): 5:17am On Sep 28
AnonyUser:
Hey guys..
I've been looking for a shop/office for the past 3 months now. I've paid 5k, 3k (x2) 2k (x3) respectively to different agents for form/registration.

After months of searching, just yesterday, one of the agents took me to one available shop, which I really liked. The shop is at 5k/month and I'm to pay 1yr & 6months, which I'm okay with. The problem, however, is that the agents wants me to pay 120k for agents and agreement. Total of N210k for both shop rent, agent and agreement fee.

Is this normal or am I being cheated?
Really need advice and contribution of experts in the house.
Thank you
Agency fee is 10% of rent.
Since rent is 5k monthly and you are paying for 18 months. Your agency fee is N9K.
Legal fee is 5% (N4. 5k)
Total agency and legal N13, 500.
Even if they insist on 10% legal fees. You are not supposed to pay more than N18,000

11 Likes

Re: Estate Agent Wants Me To Pay 130% Of The Rent As Agent/Agreement by Budapestboy: 5:18am On Sep 28
AnonyUser:
Hey guys..
I've been looking for a shop/office for the past 3 months now. I've paid 5k, 3k (x2) 2k (x3) respectively to different agents for form/registration.

After months of searching, just yesterday, one of the agents took me to one available shop, which I really liked. The shop is at 5k/month and I'm to pay 1yr & 6months, which I'm okay with. The problem, however, is that the agents wants me to pay 120k for agents and agreement. Total of N210k for both shop rent, agent and agreement fee.

Is this normal or am I being cheated?
Really need advice and contribution of experts in the house.
Thank you

They are rogues and thief’s! This estate agent are gradually increasing the charges because of greed! Agent money should not be more than 10percent or max 15 percent of rent money when they decide to be greedy! Asking you to pay 100percent is pure greed! I will advise you pay the rent and give them max 15 percent of the fees! Agents make me sick

1 Like 1 Share

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