ccollins:
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.

Some property Agents are using their hands to dig their graves...soon people would avoid them like plagues. In surulere they boldly tell you to pay agency X 2 without empathy for the prospective tenant. They tell all sorts of lies and are deceitful.


I advise my clients to use a lawyer, we know how to handle these agents and we often have properties. Directly under our management. To avoid exploitation.... DM your lawyer today.

Timmybr:

Some registered Estate Surveyors are the ones making things harder. I wanted to get 3bed flat, and the rent was 600k. The agent in charge wants to collect 120k for Agency Fee, 120k for Agreement, and 50k for Caution Fee. I was furious, and I asked why this unnecessary payment, it should be 10% for agreement and agency fee, then caution fee negotiable. I was told a reputable law firm in charge of the building is the one collecting such. Asking for a breakdown, I was told is 10% which is 60k, but they are collecting in 2years, that's why it's 120k.

I left that angrily, getting another apartment, same 3bed, the agent demanded 100k agreement, 100k agency and 100k caution for 850k yearly rent.

All these house agents and lawyers in charge of buildings are really making things difficult, and they don't care.

Until the government enacts a law that criminalises the practice of agents charging fees above a percentage, this unholy practice will continue.

Unfortunately, this exploitation of prospective tenants is major driver of inflation in this country. The market is the most intelligent system; once one person tries to exploit it, it adjusts itself and the price of other products.

LilMissFavvy:
Pls does same rate apply if someone wants to sell off a property? Just asking for a friend.

The seller is expected to pay his agent 5% agency fee. Some agents even demand 10%

However,the seller might negotiate and the fee may go down to 2%.

The buyer is expected to pay 5% fee. Again, it can be negotiated

Why does the buyer need to pay agency 5% again? Is this compulsory? How about the government? Is it true the government should take 10%? Reply, thanks

grandstar:


The seller is expected to pay his agent 5% agency fee. Some agents even demand 10%

However,the seller might negotiate and the fee may go down to 2%.

The buyer is expected to pay 5% fee. Again, it can be negotiated

If person swear these agents now, dem go come bashing (cos they are plenty on nairaland).

Why una wicked like this?

Cos u want feed your family, drink beer and fvck olosho, u go dey over charge people wey want collect apartments, shops, lands.

U people are making this country hard for una fellow human being.

I know say una get associations, but make una dey fear God and be considerate.

Una charges dey make apartments and shops too expensive for people.

Imagine person wey want collect apartment of 400k and end up dropping 750k on top una yeye charges and one stupid agreement, shiit, etc.

Make una dey fear God.
Dead country.

LilMissFavvy:
Why does the buyer need to pay agency 5% again? Is this compulsory? How about the government? Is it true the government should take 10%? Reply, thanks

It's not really the best for the agent to the seller to take from both sides but it does happen.

However, most often, the agent to the seller is usually not the person that has the buyer. The agent's working for the buyer is therefore entitled to a commission from their client for sourcing the property.

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

Please, pay, since you are not a man matured enough to know what's right or wrong or extortion.

Them put jazz for mouth?

Legalservices:



Some property Agents are using their hands to dig their graves...soon people would avoid them like plagues. In surulere they boldly tell you to pay agency X 2 without empathy for the prospective tenant. They tell all sorts of lies and are deceitful.


I advise my clients to use a lawyer, we know how to handle these agents and we often have properties. Directly under our management. To avoid exploitation.... DM your lawyer today.

That's wickedness and greed!

I don't know why we just continue to do evil to ourselves in this nation.

We have no eye of mercy. Someone somewhere is just out there looking for means to extort or reduce you.

Kai!

AnonyUser:
Guys pls.. This is urgent.
If u know about this, kindly leave a comment

This is how Lagos agents behave. It’s unfortunate

GIANTPLUSHUB:
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!

past tense...na the same amount wey Dem dey sell garri before them still dey sell am??....op secure ur shop, the fees are only to be paid once...if u continue searching for another Office shop you will end up wasting more money , time and energy on inspection...you can also negotiate the fees with the agent... luckily he might consider.

LilMissFavvy:
Why does the buyer need to pay agency 5% again? Is this compulsory? How about the government? Is it true the government should take 10%? Reply, thanks

please know that real estate agency is a profession on its own just as law....it saddens my heart when a prospective property buyer won't hesitate to pays 5% legal fee to a lawyer who may not have done anything tangible in a sales transaction other than to tell his/her secretary to get the informations of the parties involved in the transaction and the property brief, edit the one on the system, print out and stamped...only few of this lawyers do their due diligence by conducting a search on the property to be acquired by a client.

On the other hand, an agent will spend his time, energy, sometimes money trying to get you your desired land or building in a preferred location, exhausting call cards, advising you on which property best suits you, scheduling meetings with property owners, getting the documents for you and sometimes conduct the legal and social search...at the end you will say ''Na which work agent do'' is it that they also don't deserve that 5% of agency fee from the buyer....of course they deserve it.

I always say this... estate agents are the ones in best position to enlighten their customers on the quality of service they are rendering.

lomprico:


do u live under a bridge or you have your own house?

I'm a young guy. I stay with my parents for now. I'm just starting up. Thanks for your comment

Mini flat serviced office space with two too toilets on the ground floor at Victoria island lagos. Rent N1,400,000. Service charge 500,000 per annum