AGENCY PRACTICE IN NIGERIA

Thesis Overview

INTRODUCTION  Commercial activities have been on the increase in Nigeria in the past few years. This is also reflected in the fact that there has been an increase in real estate activities. The real agency business has therefore in the recent past become a business for all comers market women, housewives, mechanics, taxi drivers, lawyers, doctors, engineers, and in a case I know of, even a battery charger have all cashed in on this burgeoning business. The reason is not far fetched.
The aim of this rather limited. This is to examine the practice of real estate agency in Nigeria to determine whether only estate surveyors and valuers can engage in such business. The main question this paper is trying to answer is do estate surveyors have an exclusive right to engage in the acquisition and disposition of interests in real estate? Is there any law granting estate surveyors and valuers such a right? What role should legal practitioner play in the acquisition and disposition of interests in land? Real estate to a lawyer simply means an interest in land and so the lawyer talks about real property, as distinct from personal property. Real property or realty, simply means, immoveable property (natural fixed).
Actually, agents are used in this field of real estate. An agent can be defined as a person who act or perform on the behalf of another person known as the principal”. An agency is a relationship between two persons by their agreement, while one person (the agent) acts on behalf of another, the principal. An agency is a relationship of another, the principal. An agency is a relationship between in which someone (the estate agent) acts on behalf of another person (the principal) who seeks to acquire or dispose an interest in the property.
Generally speaking though, agency work consists of work done in the course of business, pursuant to instructions received from another person who wishes to dispose of or acquire an interest in landed property.