08034608401

USERS

Prachpro is a Real Estate marketing and information platform created to empower interested individuals earn both actively and passively as agents in the real estate sector

Prachpro users earn commissions from making direct sales and lease of properties listed or indirect commissions from specific property sales made by their referrals.

There is no sign up fee, Sign up is free

Firstly, Prachpro users get to earn legitimately from various real estate earning options. Also, Prachpro provides other valuable incentives to her active users which we believe will optimize their overall life style

Kindly visit “setting” to upload your bank account details. When you make a sale on any featured listings, your commission will be transferred to your account immediately by the real estate firm you sold for

You can reach out to us via
our website www.prachpro.com or
Email: [email protected]
Facebook: facebook.com/prachpro
Instagram: instagram,com/prachpro
Twitter: twitter.com/prachpro
Linkedin: linkedin.com/prachpro
Phone no: 08166213170, 08034608401

Being verified gives you legitimacy on the PrachPro app.
It gives you access to all the features on the platform.
It activates your ability to earn activity points.
It makes you eligible for incentives and giveaways

By booking inspections via the app or contacting either the real estate firm or directly agents to schedule an inspection date.

Yes, kindly follow Prachpros' social media handles and read our blog for training information

At Prachpro, we have a referral system that allows you to invite people to sign up. When you invite someone using your referral link, that person becomes your referral
For example, if Peter invites Sarah, Peter is Sarah's upline, and Sarah is Peter's referral

Our mission is to empower young individuals using real estate as a source to raise the required capital to build a sustainable future themselves.

To provide Nigerians with an alternative or direct source of income via real estate in order to boost their standard of living

Get the property coordinate/information from the real estate and visit the state government

Due diligence can be described as the verification, legitimacy and
track records of properties from the real estate companies and state government

Cooplag Gardens, Lafiaji-Lekki, Off Orchid Hotel Road, Lagos.

Our customer care representatives work round the clock to and answer all questions whatsoever.

We won’t want to see you go. But if you have to go, you simply send us a mail notifying us of your intention. Then your profile will be shut down as requested

On the App Homepage, you get to see:
Your username and an avatar sign (which lead you to your profile page)
Your current transactions
Quick Links and
Recent Activities

From the homepage
Tap the Avatar sign on the right-hand side to get to the users profile
Below your profile is the blue sign captioned Share Referral Code Tap the icon and share to your prefered client

1. Tap on the properties icon on the homepage or by pulling out the side menu by tapping the Hamburger icon on the top left.
2. On the properties page, tap the Blue Plus(+) icon on the bottom right > Select for Direct Brief or Urgent Request > Enter property description, location and commission then upload Images and tap Submit at the extreme top right of the last page

All verified agents are legitimate and you can confidently transact with them. You will see a verified checkmark on their profile

A verification code will be sent to your email. Copy the code and complete registration then continue searching for your desired property or listing your property

Post a request, an agent will get back to you with your specifications

The settings page is where you can:
1. Update profile information
2. Update account information
3. Change user password
4. Verify account

Activity points are points earned from being and staying active on the Prachpro app. You can earn points from referrals, closing deals, posting direct briefs and short-lets.  Activity points are converted into cash incentives or giveaways at the end of every month

Real Estate is widely known as the buying and selling of homes, buildings or property. An example of real estate is the type of office you visit to find an agent to help you buy a house. However, most of them are now into developing as well.  Real estate is defined as land or buildings that can be owned.

 

Firstly, we need to differentiate between a Real Estate Agent and a Realtor, a Real Estate Agent is a real estate professional with a valid license. Basically, an agent helps people buy and sell both commercial and residential properties. However, agents are the ones who become Realtors. Becoming a certified Realtor you need  to become a member of National Association of Realtors (NAR).

 

That being said, how do you become one? An Agent/Realtor.

 

First thing first, you need to understand what Real Estate is about like we explained above. Now, ask yourself, what do i want to become? An agent or a realtor?

 

Made your decision? Now it is time to learn what you need to know to become any of your options. Regardless if you are already making sales and call yourself a realtor, the question is, are you a successful one? This is where PRACHPRO comes in. making you a successful Realtor.

 

Here, we will be giving proper training on what you need to know and have to  become a proper Realtor in Nigeria, most especially in Lagos.

 

The difference between the poor, the rich, and the wealthy is information and network. Remember that your network is your net worth. PRACHPRO is committed to bringing you both. 

 

KNOWING THE REAL ESTATE INDUSTRY IN NIGERIA

Several Real Estate are now operating in Nigeria most especially in Lagos State. However, very few of them are reliable and have integrity. As a realtor, you need to deal with “just” the ones with reputable names, this is because you do not need anything that will later come back to haunt you all because of money.

 

Below are the things you need to do before you make yourself a realtor or an agent for a particular real estate industry. 

  1. Due Diligence: This can be done in many ways, but the most reliable way of going about it is by visiting the State Government office in charge of Building, most times, the compliance unit. This will expose anything you need to know about the particular real estate company you want to go into. Lagos realtokes goes to Alausa to make their search most times. 
  2. Site Visit: After confirming that the Real Estate is real and free from fraudulent act;, then you need to go for physical inspections of their properties yourself. Visit the site to be sure that they really have what they said they are selling. 
  3. Walk in: As an agent or a certified realtor, you can always walk into these offices and ask questions on properties they have, (selling and sold) so you don't continue to market a property that has been sold. 
  4. Check online for reviews: Go online, google have answers to almost everything, all you need to do is ask. Reviews are always available to point you in the right direction.
  5. Ask other Realtors: As you start your journey, you will meet a lot of realtors who have been doing this job for years, move closer to the, and learn. You can always ask them questions regarding any real estate firm you want to start marketing for to confirm if they are free from any land encumbrance and any fraudulent act. 

TERMINOLOGIES

Brief: A property brief is a summary of the characteristics and legally pertinent features of a property. This includes the features, facilities, location and most importantly, the price. Also, we have a direct brief and a non direct brief.

     Direct Brief: This type of brief is said to have no middle man, just you, the seller and the buyer.

     Non Direct Brief: Here, we can have as many people as possible, it is like a chain of realtors trying to market the same property through a single seller to different buyers.

 

Market Survey: This is an investigation into the state of the market for a particular product or service, including an analysis of consumers' needs and preferences. This will guide you in approaching the right buyers for any property you have at hand. 

 

Due Diligence: This involves thorough inspection of the fundamentals of the property and compliance obligations to reduce and mitigate uncertainties.(Statutory Requirement)

 

Negotiation: This is one of the most important aspects of the job. You need your prospect to buy the property so you just do not leave them alone to do the work. Meet the seller, negotiate with them and then give your client a good deal. In the end, it is a win-win situation for all.

 

Offer: This is the initial price offered by a prospective buyer to the seller. A seller may accept the offer, reject it, or counter with a different offer.

 

Closing: The closing refers to the meeting that takes place where the sale of the property is finalized. At the closing, buyers and sellers sign the final documents, and the buyer makes the down payment and pays closing costs.

 

Assessed value: The closing refers to the meeting that takes place where the sale of the property is finalized. At the closing, buyers and sellers sign the final documents, and the buyer makes the down payment and pays closing costs.

 

 

What are the land title types?

 

C of O: A Certificate of Occupancy, also known as the C of O is a document issued by state governments in Nigeria to landowners and property buyers as a legitimate proof of ownership.

 

R of O: Right of occupancy R OF O is just an offer not a certificate like the C OF O. Certificate of occupancy is certified right of your ownership of the said land. R of O is a weaker title to land and vulnerable while C of O is a superior title and secured

 

Gazette: A gazette will show the communities or villages that have been granted excision and the number of acres or hectares of land that the government has given to them. It is within those excised acres or hectares that the traditional family is entitled to sell its lands to the public and not anything outside those hectares of land given or excised to them.

 

Deed of assignment: A deed of assignment refers to a legal document that records the transfer of ownership of a real estate property from one party to another. It states that a specific piece of property will belong to the assignee and no longer belong to the assignor starting from a specified date. It might be a house or land or a space.

 

Sales and management Agreement: This is the document that carries all the necessary information ;one needs to know about the property. Trhe size, the location,. The title, the price and the name of the owner. Both parties will sign at the end if they both agree on all the terms in the agreement before proceeding with the transaction.  

 

Survey:A survey refers to the process of locating and measuring a property's boundary lines to determine the exact amount of land that a homeowner/land owner owns. Buyers have a property surveyed after making an offer to make sure any issues with easements or encroachments are documented and resolved before closing the deal.

 

Governor’s consent: This is the approval that must be given by a Governor of a state or his delegate in any transaction that has to do with the transfer of ownership or other interest over land or landed property in order to make the transaction valid at law. Properties with this title are always in high demand hence the hike in price.

 

What else should I know about?

 

Land Use Charge: This includes all Property and Land Based Rates and Charges payable under the Land Rates Law, the Neighbourhood Improvement Charge. Law and Tenement Rates as may now be computed on the basis of the Schedule. It is important to know this before selling that house so your client would not inherit any debt from the seller.

 

Compliance: The regulations that govern properties and their components, and regulations are increasing every year. Real estate compliance encompasses the sets of regulations that govern properties and their components. From the land itself to the building. Compliance is very important and it is advisable to always oblige to avoid future stress with the government.

 

Square metre:  It is defined as the area of a square whose sides measure exactly one metre. For example, a square that is 2 metres long and 2 metres wide has 4 square metres of area. So when it comes to land, the size of land is always measured in square metres to get the perfect size. This is why you see (2000 sqm) in most briefs.

 

Encumbrance: This is a claim, lien, charge or liability attached to and binding upon real property.

 

Statutory  Requirements: Legal guidelines established by a law to control development activities  such as official approval, a license, or a permit etc (e.g. Residential Zone)

 

Mortgage: A mortgage is a pledge of real estate collateral to secure a debt. Also, it is a legal document describing and defining the pledge.

 

Rent/Lease: The periodic payment made to the owner of a property for the use of said property, as determined by a lease (rental) agreement. 

 

Development: The business of buying land and buildings and then making improvements to them so that their selling price exceeds the price paid for them.

 

Off-plan Purchase/ Sales: Purchase of a new building with reference to its plan/design before it is built.  

 

Joint Venture (JV): This is a business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task ( Land Owner (Land) + PRINDEX (Construction Expertise, Finance) = DREAM PLACE

 

WOM: This simply means (Word of Mouth). As a realtor, this is the most powerful tool you can have. The way you say things to your prospects matters a lot. Most times, it is not about what you say but how you say it. Making that sale and closing that deal depends mostly on your word of mouth.

 

ROI: Return on investment (ROI) measures the gain or loss generated on an investment relative to the amount of money invested. ROI is usually expressed as a percentage and is typically used for personal financial decisions, to compare a company's profitability or to compare the efficiency of different investments. So when your client asked you, if I purchase this property, what will be my ROI in two years. You need to know your answer.

 

 

Knowing the aforementioned is key if you want to become a good realtor, especially a successful one. As we forge ahead, we will continue to educate you on other aspects of the real estate that you need to know. 

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