Real estate isn’t just about buying and selling properties even though that is its primary meaning. It involves planning, consultation, valuation etc. A person who is interested in venturing into real estate either as a buyer or as a seller needs to know what is involved in it, some of which includes having basic knowledge of the required procedures and processes that are involved and also knowing the right sources and channels to make use of so as not to get duped or cheated in the long run.
There are so many real estate companies that have emerged over the years to assist individuals or companies who want to go into real estate either as a buyer or a seller or even if it just involves renting or leasing. These companies are well-positioned and equipped with the necessary skills and knowledge to give their clients the best deals. They also have competent real estate agents actively working for them, the most amazing part is that there are several of these companies located in different places in Nigeria.
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What Is A Real Estate
Real estate simply means real property which consists of land and any immovable properties in it, this includes the building, natural resources, minerals and anything permanently attached to it whether natural or man-made resources. It’s called immovable and real property as opposed to personal property which are things not permanently attached to the land and can easily be moved this includes jewellery, boats, arts, farm equipment e.t.c.
Real estate can either be owned by a government, a corporate entity or by a private party. In essence real estate includes the physical surface of the land, what lies above and below it, what is permanently attached to it, plus all the right ownership including the right to possess, sell, lease and enjoy the land.
Types Of Real Estate
There are four main categories of real estate and this includes
The explanation below explains how the industry works and what each of the major categories represents:
This is a piece of property that is still raw and hasn’t been acted upon and purchased for future development. It could be an undeveloped property, agricultural land or vacant land examples including factories, power plants and warehouses. Investing in land is a long-term strategy and most times investors purchase it to improve on it and increase the value worth of the property.
2. Commercial Real Estate
These are properties that are used for business or commercial purposes, they include restaurants, shopping centres, educational buildings, hotels and offices. Residential real estate could fall under this category if they are used to provide income to its owners.
3. Industrial Real Estate
Industrial real estate lands are used for industrial activities and this includes mines, factories, power plants, manufacturing buildings and property e.t.c The main purpose of industrial property is to research, develop, manufacture, store or distribute goods and services. Although industrial real estate is used for business purposes like commercial real estate, it is seen as a separate type of real estate class because of the specific way it is being used.
4. Residential Real Estate
The primary function of residential real estate property is to provide a form of housing for people in which they make their place of aboard or simply put a place where people could call a ‘home’ and this includes single-family houses, apartments, condominiums, vacation homes, high-value homes, townhouses e.t.c.
Qualities Of Real Estate
- Real Estate is either bought or sold.
- The value of a real estate property is not static, this implies that it can either depreciate with time or can be improved depending on how it is handled.
- Real estate owners vary from individuals to companies, organizations and governments.
- Real estate is immobile which means it cannot be moved from one place to another.
- Real estate property is finite, which means it can be found everywhere
Real Estate Agents
Real estate agents are individuals or an organization that helps other individuals, businesses and investors in buying and selling properties. They act as a middleman between the owners of the real estate (sellers) and its potential buyers and they represent either the buyer, seller or both.
Real Estate Agents Are Divided Into Two Categories
Sellers Or Listing Agents
These are real agents who act on behalf of the owners of real estate properties. They help you price your property, make your property look nappy so it looks its best to potential buyers and assists in the negotiations with the buyer or the buyer’s agent to ensure they get the highest bid possible.
They act on behalf of buyers who want to purchase a real estate property, they ensure that they find the property that best suits their client’s criteria and they help negotiate with the seller or the seller’s agent giving reasons why the seller should accept a lower price.
Real Estate Companies
Real estate companies are brokerage firms that buy, sell and rent properties, they also own and manage real estate. They employ a team of real estate agents also known as realtors. Their major role is to sell or purchase a property at the best possible term for their clients.
List Of Best Real Estate Companies In Abuja
There are several real estate companies in Abuja and here are the top 10 you can find
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1. Asmabell Group Limited
This is one of the top real estate companies in Abuja. They are located at 4a Kikuyu close, Nairobi street, Aminu Kano Wuse 2 Abuja. They are strictly involved in the selling of properties and they do not rent out apartments to people.
2. Ayeye & Co
They are a firm of estate surveyors and they offer multiple services such as project development and financing, asset valuation, feasibility and viability appraisal, and real estate agency (letting and sales). This company also conducts property searches for its clients. Some of its clientele includes commercial, microfinance, and mortgage banks, other corporates, and individual buyers and renters. They are located at No.5 Durban Street, off Adetokunbo Ademola Crescent, Wuse 2 Abuja.
3. Boing Luxury Estate
This company helps people get the right properties and takes care of every necessary procedure that will occur, so for people looking forward to getting a nice property in Abuja without going through the procedures themselves, then Boing Luxury estate is highly recommendable. They help clients to manage their properties. They are located on the 5th Floor, Left-wing, NICON Plaza, Central Business District, Abuja FCT.
4. Integax Jubilation Homes
Integax Jubilation Homes is a subsidiary of Integax Resources and is one of the biggest and most notable real estate companies in Abuja. They are a seller real estate agent company and they are primarily involved in selling properties and have existed for 13 years. It has several properties to its name located across many estates and these include Comfort Court Estate, Grace Garden Estate, Liberty Estate, and Beulah Terrace among others. They are located at 14 Isoka Street, Off Kigali Street, off Nouakchott Street, opposite DBM Plaza, Wuse Zone, Abuja.
5. Estate Code Nigeria Limited
This real estate company has quite a few affordable properties compared to most of the other companies. They are involved in property development, property and facility management, building designs and the installation of smart home technologies, building and civil construction, furnishing and home fitting.
Address: They are located at Suite A4( 1st Floor), Real Tower Center, Opp Peace Pak, Utako, Abuja FCT.
6. The Mls Property
They provide multiple services which include leasing and selling properties for residential and commercial purposes, they also provide consultancy services to real estate investors and prospective property occupants. Its core mission is to provide quality-driven, people-oriented and distinctive business solutions to its various real estate-related services.
If you are looking for an affordable real estate company it’s not advisable to use this company as their services are quite expensive but you are well guaranteed that they deliver quality and top-notched services. So spending your money on them would be worth it.
Address: They are located at Suite 201, 1473 Inner Block Street, Central Business District, Abuja.
7. Toyin Ilori Consulting
The company’s primary service is to assist in surveying and valuation of properties. They are not involved in the leasing or selling of properties.
Address: They are located at Suite B7, Rukayat Plaza, Plot 93, Obafemi Awolowo way, Section B, Jabi District, Abuja.
8. Valington Homes And Properties
One unique selling point about Valington homes and properties is their price. They are among the most affordable you will find from any real estate company in Abuja. Some of their estate in the cities includes Palazzo Estate, McKesson Luxury Estate, Iman Estate, Valington Estate, and Lapidot Estate.
9. Winners Properties Nigeria Limited
This company is primarily involved in selling and renting out properties and they are one of the leading commercial and residential property services groups. Some of their services include providing houses for sale, rent, leasing, facility management, surveyors, land for sale and plots.
Address: Their headquarter is located at 10 Danube Close, Off Danube Street, Off IBB Way, Maitama, Abuja.
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10. Villa Africa Realty
Villa Afrika Realty services involve selling and renting out properties and they are available if you want a house, flat, land or commercial property.
Address: They are located at Muhammadu Buhari Street, Lokogoma, Abuja.
Several other real estate companies in Abuja deliver competent service. Before making your choice, identify what your preferences are and also your budget and choose the right companies that meet your needs.