Micheal Okuboye, founder of Cynosure Realty, has issued a warning to real estate professionals in Nigeria about the dangers of operating out of desperation rather than purpose. In a personal essay published this week, Okuboye shared his experiences entering the sector in 2022, motivated initially by financial pressure after years in media and finance.
“Hunger wakes you up early. Hunger pushes you to learn fast. Hunger gives you boldness when comfort would have kept you quiet,” he wrote. “And yes hunger took me into real estate.”
Okuboye explained that he entered the industry deliberately as a short-term strategy. With minimal start-up capital required, he saw real estate as a way to earn commissions quickly while planning to return to his original vision in media.
However, as he closed deals and conducted site inspections, he noticed persistent problems within the sector. He cited misinformation, risks in documentation, manipulation of clients, and practices that could jeopardise people’s savings. By early 2025, Okuboye asked himself: “Is real estate just about commission? Is it just about transactions? Is it just about money?”
He concluded that the answer could not be yes if he wanted to remain consistent with his values of impact, systems, people, and legacy. Okuboye also criticised common marketing terms in the sector, such as “luxury,” “premium,” and “smart investment,” which are often used without verification or clear standards. “If these investors were truly smart, would some of us even still be in business?” he wrote.
To highlight the ethical challenges agents face, Okuboye described a scenario involving two developers selling plots in the same location. He argued that an agent driven by immediate commission may push clients toward the higher-paying option rather than the option with stronger documentation and lower long-term risk. “Hunger doesn’t allow patience. Hunger doesn’t allow ethics. Hunger doesn’t allow systems,” he wrote. “When hunger sustains you, you start selling from the standpoint of desperation, not conviction; survival, not responsibility; commission, not consequence.”
Following this reflection, Cynosure Realty revised its approach. The company changed its slogan from “Unlocking the Wealth of Nature” to “Doing Real Estate the Right Way.” The shift represents a move away from hype and speed toward diligence, structure, and transparency. Okuboye stated that some of Cynosure’s affiliates now participate in projects based on trust in the process rather than aggressive marketing. “That matters more to us than volume,” he said. “Because when you do real estate the right way, you may grow slower but you grow stronger.”
In conclusion, Okuboye distinguished between short-term motivation and long-term purpose. “Hunger can bring you into real estate. It brought me. But if hunger controls you, it will eventually destroy your judgment. If purpose guides you, it will sustain your relevance,” he wrote. “The best way may win today. But the right way wins for life.”
His essay has prompted discussion among real estate professionals and investors, who see it as a necessary conversation about ethics, transparency, and responsibility in Nigeria’s property market.
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