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‘No alternative to honesty in agency practice’

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Amid concerns on the dwindling fortunes of estate agency practice due to onslaught of quacks, practitioners have been warned against unscrupulous property dealings.

Recently, there have been reports by clients who put blind faith in their estate agents and such trust is being abused, thus, leading to loss of huge funds as well as property by customers.

But, experts are advising that trust remains a portent tool to give life to the practice and restore the profession to the path of prosperity.

Speaking at an interactive session organised by the Faculty of Estate Agency and Marketing, a business division of the Nigerian Institution of Estate Surveyors and Valuers (NIESV) in Lagos, the Principal partner, RCO Properties and Company; Richard Okafor lamented that due to the desire to covet and make quick money, some practitioners have drag the name of the profession in the mud.

This, he noted, has created an atmosphere of tension and a situation whereby the public no longer trust even the genuine estate agents in the country.

Okafor stated that estate agency is not a finish product or business, but a service product in which clients’ first key into image of the practitioner before demanding their service.

He therefore, advised them to build good image in the business rather than been encumbered with the ‘get rich quick syndrome’ which is fast becoming the norm in the society.

“No alternative to honesty in estate agency practice. Estate agency practice is very tempting and could kill if one is greedy. You must be patient and not expect success overnight.

Your conscience should guide you in the profession, live according to your income and save for the raining days to avert suffering in the future. Those who exercises patience will always survive”.

According to him, following the downturn moment in the economy, members must explore all positive mechanisms to sell and advertise their products to the public.

He said; “Every generation has their own challenges, but it is the ability to overcome such situations that make you successful in business. Practitioners must use multiple ideas to keep their practice on.

The practice if fading but members must retool to be able to surpass international companies who are coming as posing as competitors”.

Okafor who majors in estate management, encouraged members to develop what he called, ‘native intelligence’, be humble, dress smartly and respect their clients at all times.

“We must note that the importance of practitioners is not recognized at times and so, we must make conscious effort to make ourselves known, build your practice around individual rather than the government because government tenure will expire.

Building practice around individual is therefore one of the hard core fore success in the business”, he said.

In a remark, the Chairman of the Faculty, Sam Eboigbe said there was the need to restore sanity to how estate agency practice is been practice in the country, hence, the faculty is mustering strength by organizing forum where practitioners could tap from the experiences of those he referred to as legends in the profession.

He said; “We organize sections like this, to deepen the knowledge base of our members nationwide in order to ensure their prosperity in business.


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