What You Must Know Before You Buy That Land!

• Property Player, ALABA ALOZIE, CEO LASGIDI Property

Mrs. Alaba Alozie, popularly called Lasgidi is the CEO of LASGIDI Property.

She is an energetic woman with so many cliente. This woman has had a successful career in Real Estate for over 10 years. Mrs. Alaba has 3 years of experience as a real estate agent and broker in five states and serves as a principal broker and consultant to other real estate professionals on management, marketing and sale of real estate products and services, with special skills in survey and title documentation. Her name rings a bell whenever it’s mentioned in and out of Lagos. She is also the toast of many big real estate players who want their property sold as quickly as possible, before she became a developer herself. She has also won several accolades in the past for her doggedness in the sector.

She told City People, ISAAC ABIMBADE (08155207955) about her real estate journey and what it takes to be a player. She also talks about what people should look out for when buying land. Below are excerpts.

You are a woman who has been doing well in the real estate sector for some years, can you tell us your experience?

This is Africa. We believe that your name represents you. My name is LASGIDI. I have been on the streets of Lagos for 30 years, so we understand as a company when a Lagosian says You want to deceive us with your approach. You need to have the understanding of the industry before you can say you want to sell any property. You can not give what you don’t have. Have been in the industry of real estate for 10 years and have I can tell you everything that’s happening in the real estate industry. I started as an agent and I did that for about 3 years. Shortly, I became a realtor; a trained realtor. I trained in Kenya, America, South Africa and here in Nigeria. So I understand a lot about the sector and know a lot about international practice.

You said that, you understand map of Lagos very well?

Let me first say, we need to address the government policy. We know that the Land Use act has given the government the right on land. But what about Omoonile? These people are the indigenous owners of land and they have 100 percent right on their land. We should also talk about Developers. Currently, most Developers are battling inflation. They are battling with buying a land with a CofO today and tomorrow the CofO is revoked. The developers are going through hell!

Talking about to realtors. Most realtors are selling ordinary air. Many of them don’t even know what they are selling. It’s some of these Realtors that will be demanding for onboard fee from Developers. Before you can sell for some Developers, some Realtors will ask for onboard fee which is there right. But have you done your background check on many of these Developers you are selling for?

What advise is that, we need to come together so that we can avoid disruption.

To the investor who wants to buy land with a CofO in Ajah. That won’t be possible. You need to ask people like us if that can be possible before you are been lured. Someone like me, I am in 3 associations. I’m not just a Realtor or a Developer.

You talk about master plan of Lagos because this will guide people on where or not to invest their money.

Some people are here today to buy Epe masterplan or Ikorodu master plan. Before you can excel in this industry, you have each master plan of every location in Lagos. I have a masterplan of Epe. I have 2 estates in Epe. People need to understand what you are selling for them. There are places where you can get CofO. There are places meant for forestry people are selling those areas but in some instances, the government can still give them titles but it is risky. That’s why you need to ask the right questions from the right people.

What are other challenges people should be wary of when buying land in Lagos?

People need to be careful about the history of Lagos State. What has happened in the last 30 years in Lagos, so that we can project? I studied Population study in Obafemi Awolowo University, Ile Ife, Osun State. I know more about Lagosians. I know more about what they do.

I was in Abuja last month to under study Abuja for 10 days because we know that some Developers will be moving there.

Why would they move?

Because Asiwaju Tinubu transformed Lagos from 1999 to where we are in Lagos today. If you have been to Lagos around 1999 or before, if you go through Idumota in Lagos, you will understand what I’m saying. This transformation is what Tinubu will replicate in Abuja and that’s why he chose Wike. He has very experienced.

What should be the step for any investor coming into the real estate?

The first thing is to find somebody who is capable like LASGIDI.

Like I said, we have a lot of data. The problem we have as a people is that many of us don’t ask questions. You need to ask alot of questions before buy in Abuja, Lagos.