Real Estate industry players have reiterated the need to deploy technology into Nigeria’s real estate to boost the sector through improved investment, liquidity and home ownership.
To change the narrative, the chief operating officer, BuyLetLive, Modupe Agbolahun said technology is the future and as such, the real estate space cannot be left behind. “This is the main reason we have come up with products that will ease and simplify the process of selling and buying in the real estate market,” Agbolahun added.
The COO revealed that, most Nigerians in diaspora want to invest in real estate in the country, but they are afraid due to the fraud that goes on in the sector.
“They may be afraid that an agent will abscond with their money due to high rate of fraud and insecurity level in Nigeria. But with technology, we have an application called Virtual Tour, that allows one to inspect property wherever they are. They don’t need to be in Nigeria, before they can buy the properties they want,” the COO revealed.
She disclosed that BuyLetLive is also bringing together traditional real estate practitioners, who have been in the industry for a long time, to embrace technology, while disclosing that the adoption of digital way of doing business has been great in Nigeria as more people now see it as the way of life.
In the same vein, the head, marketing and communications, Spleet, Tofunmi Alo said, making properties in Nigeria accessible to everybody in the world is one sure way to boost the real estate industry.
Alo said, Nigeria’s real estate industry has, in recent time, embraced innovative ways to doing business in real estate. “For example, Spleet provides people a platform that connects landlord to tenant. We also have a product called Verify in the pipeline, that will enable tenants to rent a house now and pay later. In the next five years, we plan to expand our product and service to other countries like Kenya, Ghana,” she revealed.
