1st Choice Properties has unveiled a mobile application designed to promote secure and genuine real estate transactions.
At the unveiling in Lagos, the company’s Managing Director, Mr Taiwo Oladapo, and General Manager, Mr Gbenga Agbana, said the app was developed to enable Nigerians to rent, buy, and lease landed properties without fear of fraud or falling into the hands of quacks.
Speaking at the event, Oladapo explained that the app features only verified property owners and was designed to protect both landlords and tenants. He said the organisation carries out thorough verification of tenants and landlords, clearly stipulating landlord-tenant relationships and their respective rights.
Oladapo said, “We have come to enlighten Nigerians on what they need to do when renting a house, buying a property or acquiring land.
We are passionate about ensuring that every Nigerian can secure a home where they can sleep comfortably at night and not be subjected to situations where a landlord suddenly asks tenants to vacate because a family member is returning from abroad or the building is to be demolished.
We ensure that all necessary documents are obtained before any payment is made for land or rent. We are here to represent either the tenant or the landlord.”
Oladapo said the app was designed to halt the multi-billion-naira losses recorded annually in the real estate, property and landholding sector across Nigeria, adding that over N100bn is lost yearly to fake and fraudulent real estate transactions.
“The real estate sector faces serious threats from the invasion of quacks and fraudulent individuals. 1st Choice Properties is here to help redeem the image of real estate practice in Nigeria. We have established a strong legal framework.
We are working with both state and Federal Governments. Ultimately, the Nigerian real estate sector will be free from corruption and incompetence,” Oladapo said.
He also called on the government to be more proactive in dealing with unregistered agents, advocating stringent measures, including arrests.
“The government should be more serious and arrest people who are not registered agents. Before anyone qualifies as an agent, there must be certification. A compulsory certificate should be introduced by the government for everyone working in Nigeria’s real estate sector,” he said.
Also speaking, Agbana said the new app would prevent millions of Nigerians from losing their money to fraudulent real estate dealers and land speculators.
“The app is designed to help potential investors identify safe investment opportunities while protecting them from investing in disputed properties, assets confiscated by anti-corruption agencies or properties without proper legal status,” he said. “Every year, the country loses billions of naira to corruption in the housing and property sector. This has to stop. With the 1st Choice app, an end has come to corruption in the real estate sector,” he added.
The pair also pointed out that Nigeria is grappling with a severe housing deficit, noting that fewer than 10 per cent of Nigerians are homeowners. They added that weak regulation in the sector costs Nigerians in the diaspora billions of naira each year through fraudulent schemes.
Agbana explained that real estate development is often associated with rising corruption and exploitation of investors, including members of the diaspora, by unscrupulous individuals, land grabbers and property speculators.
According to him, these practices discourage genuine investment efforts by Nigerians in the diaspora, as well as local and international investors.
He reiterated that the country loses billions of naira annually to corruption in the housing and property sector, stressing that the trend must be halted.
