Nigeria realtors told to rethink sales as property market tightens

Nigerian real estate firm Baay Realty is urging real estate agents to overhaul how they sell homes, arguing that sharper skills and structured sales systems, not just new developments, will determine who survives the country’s increasingly competitive property market.

At its third Professional Mastery Symposium held at the University of Lagos, the Lagos-based firm gathered realtors and sales trainers to push a message that reflects a broader shift in the industry: as supply rises and buyers grow more price-sensitive, conversion speed and client retention matter more than flashy marketing.

Nigeria’s property sector, once buoyed by speculative demand and aggressive off-plan sales, is facing slower deal cycles amid higher borrowing costs, squeezed household incomes, and greater scrutiny from buyers.

Developers and brokers are now competing not only on price but also on trust, data, and after-sales engagement.

Segun Babatunde Adegoke, managing director of Baay Realty and Baay Projects, said the company’s model is anchored on “People and Product” but stressed that product alone is no longer enough.

Continuous training and mentorship for agents, he said, are essential to ensure clients receive informed guidance in an evolving market.

“Investing in the development of realtors strengthens professional standards and ensures clients receive value-driven service,” Adegoke said.

Speakers at the event focused less on new land releases and more on process discipline.

Deborah Olaleye, a human resources professional, introduced the SBAR communication framework—Situation, Background, Assessment, and Recommendation—arguing that clearer internal and client communication reduces costly misunderstandings in transactions that often involve multiple stakeholders.

Sales strategist Oniku Ayodele pushed agents to track customer retention and “sales velocity,” a measure of how quickly prospects move from inquiry to closed deal.

“Lead generation is important, but the real success lies in how efficiently those leads are converted,” he said, highlighting referral marketing and partnerships as cheaper, more sustainable growth channels.

Gbadebo Adejana, managing director of Realty Point Limited, urged agents to position themselves as advisers rather than price-driven intermediaries.

His “Sell Like A Machine” framework promotes repeatable systems and authority positioning—educating clients on market trends to build credibility and long-term loyalty.

For an industry where many practitioners operate informally, the emphasis on metrics, structured communication, and authority branding signals a push toward professionalisation. That shift could help rebuild buyer confidence in a sector often criticised for opaque pricing and inconsistent service standards.

Baay Realty capped the event with awards for high-performing agents, tying recognition to productivity and client service, an approach the company says is designed to embed measurable performance culture.

As Nigeria’s housing deficit persists but affordability constraints deepen, the next phase of growth may depend less on new projects and more on how effectively agents close, retain, and advise.

Wasiu Alli

Wasiu Alli is a business, economics cum data journalist with strong expertise covering macro trends, capital markets, government policies, corporate earnings and comparative economics analysis. Alli turns raw data into trends that not only tells compelling stories but nudges investors to make valued and informed decisions. He’s an alumnus of Lagos State University and trained at Lagos Business School. He formerly heads the Companies and Markets desk at BusinessDay where he writes and supervises the production of well researched articles on earnings updates, corporate sectoral comparisons, market intelligence as well as interviews with C-suite executives.