Factors Influencing the Selection of Real Estate Agents in Lagos Metropolis, Nigeria

Abstract

Real estate investment involves huge sum of money often beyond the reach of a single individual. For most estate owners, real estate is probably their single largest investment media. It is therefore necessary that one makes the right choice on whom to handle ones single largest financial investment. This study attempt to investigate into factors that real estate customers consider in selecting their estate agents in Lagos Metropolis, Nigeria for the purpose of creating better customer satisfaction in real estate agency market. The data collection instrument adopted for this study was self-administered questionnaires. The study sample consisted of two hundred and three (203) real estate consumers in Lagos metropolis. A survey of 203 real estate consumers revealed the factors influencing the selection of real estate agents in the study area. The study found out that real estate consumers are mostly concern about agent’s reputation when deciding on the choice of whom to handle probably their single largest investment. The study also found that 75 representing 37% of the study population employs the services of real estate agents in order to maximize returns.