Into office at 8am. Received cheques for a year and six months rent, Agency and Legal fees at 10% each of a shop at Lekki. Wow, this week would be very good for me. In our usual meeting Surveyors were asked to state the income generated from past weeks activity, when it got to my turn I mentioned N250,000.00 , my boss exclaimed, “you all are just making money for fuel and stationeries”.
Men we need to strategize smarter and work harder though the Market is down. Afterwards I left for inspection with a direct buyer for a wing of duplex at Magodo, he seems to like the neighbourhood though complained about the price of N70million. If we put the price at N40million, it would be the same response from Buyers. I gave him our offer and asked him to bring his counter offer in writing so as to progress. Received several calls from prospects and fixed inspections for tomorrow and next.
I conducted my inspections at Ikoyi, Lekki, Banana Island and Agungi, driven bu the sole thing(HOPE/FAITH/BELIEF) that drives every Agent who is used to conducting hundreds of inspections and concluding ten deals. Some prospects are so blunt that they tell you that they don’t like the place, on entry the street, You take them to better neighbourhood which attracts higher rent and they insist that they cannot pay more than the rent for the initial neighbourhood.
Someone should please tell these prospects that “better soup na money cook am”. No Police/Army/Oga at the top stops you from being a neighbor one former Governor of Lagos State at Bourdillon Road, Old Ikoyi except your money (from 100,000 US Dollars).
Received several offer letters for the inspections I conducted earlier. Communicated the offers to the various Landlords and replied all the offer letters totalling fifteen. Wrote letters of intention for tenancy renewal, rent demand notices and reminders for those to quit some of the properties under our management.
Held a meeting with my boss and the prospect who wants to buy the wing of duplex at Magodo Estate. We agreed sale price but could not conclude on the agency fee. We wanted 10% but came down to 5%, yet the man wants us to collect something lower. My boss told me that if the man cannot agree to that then we should look for other prospects.
Am waiting for some tenants who promised to bring their cheques by 1pm. They came brought them, what a big relief, now I can use my time to develop new areas instead of ruuning after these tenants. Went for an inspection with a prospect who wants to let a flat in Ogba, he likes the place and issues his cheque on the spot, I told him to hold on until we write the agents formally and establish a contract, he finally agrees.
To Land Use Charge Office at Alausa to pursue some complaints on properties we manage. Recived cheques from new tenants at Anthony and Lekki. Sent some IT staff to go and remove our TO LET boards and take Cleaners to clean the flats. I attended to several enquiries and left for an evening meeting with a prospect who wants us to help him buy a land at Lekki phase 1. Am running late and traffic is heavy.
Management meeting with usual pressures of did you meet your target, how many properties did i sell or let. Received enquiries from some expatriates to rent some properties (A block of 4/5 No Semi-detached or Terrace Houses) in Old Ikoyi or Victoria Island.
Prepared photographs and wrote them letter of offers but they need to inspect by 12 noon Wednesday. My Boss passed the contact of a client who needs to sell his Bungalow at UPDC Estate Lekki, I rang him and we agreed to inspect by 1pm tomorrow.
Tuesday- 23/07/13 I rang the owner of the UPDC Bungalow by 7:30am to confirm our 1pm Appointment. Some Indian Tenants have moved out of our Block of serviced flats at Apapa, hence the remaining tenants were having issues of paying extra for Diesel. Those Indian Tenants when they were coming in they promised that they are a reputable company and would renovate our flats at the determination of their lease.
We have spoken with their Management on phone yet no favourable reply. I am going to meet them at 10am and if they fail to come and renovate we must get our lawyer to sue them. At the meeting at their office they agreed to renovate but wants us to get our architect to give them a quotation for the repairs. Thank God, am off to UPDC Estate Lekki , met the Client, who took me round and I did my inspection/appraisal of the bungalow he wants to sell. Told him I would conduct my market Research and revert by evening which I did.
The owner of the bungalow, which i inspected yesterday wants N65million sale price but my valuation says N55million. He gave us mandate to sell but was silent on the issue of our fees. He also sent a copy of the Title documents. I wrote back thanking him and mentioned that our fee is 10% of sale price on successful sale of this property.
He called back and after much negotiation agreed to pay 5%. We accepted, meanwhile I have spread the info to sell the bungalow amongst our company’s contacts and our lines were buzzing. A sister company called and scheduled to inspect with their client tomorrow 3pm.
I conducted the Expatriates representatives who wants a block of 4/5 No Semi-detached or Terrace Houses in Old Ikoyi or Victoria Island and showed them about five different properties, they seem to like two. I pray they take them as i have calculated our fees in some thousands of dollars.I went to inspect our banners on some properties to let around V.I then headed home thereafter.
Thursday- 25/07/13 At the office and replying some letters and doing some internet/e-marketing of our properties. Passing some requests to my junior colleagues and received reports from them on the marketing of our vacant flats at Apapa. From their reports we may need to reduce the rent from 2years to 1year in advance; we really need to get those flats occupied as the few tenants are unwilling to contribute more money for diesel and service charge.
Conducted inspection of UPDC Estate Bungalow for sale, the client is serious and he sent his lawyer to Ministry of Lands, Alausa, Ikeja to verify the Title and we began negotiations.
We communicated the position of the owner of the UPDC Bungalow to the Prospect, that the net price is N61million. The prospective Buyer replied that his maximum price is N57million. We would be going back and forth on this pending the outcome of the search. Received some cheques from new tenants who are insisting that we must go and remove our “TO LET” Banners on the property and we did.Went for a meeting with a client who wants to buy an Acre of land in lekki phase 1.
We need to verify the Title documents and obtain the land information from the Lagos state planning Authority , I made some calls and got appointment to see the Planning authority Representatives by next week. I had to go home early to meet with some prospects who want to give us their properties to manage.