Udume Ukwe

Selling Lands and Buildings: The Role of Effective Follow-Up in Real Estate Transactions.

Selling lands and buildings entails more than merely listing a property; it necessitates a strategic approach, effective communication, and consistency. A professional methodology serves as a catalyst in attracting genuine buyers and ensuring a seamless transaction process.

Key Steps in Selling Lands and Buildings.

1. Know Your Property:
Comprehensive knowledge of every detail regarding the land or building, including size, location, title documents, accessibility, and unique selling points, is crucial. This exhaustive understanding fosters confidence when engaging potential buyers.

2. Market Strategically:
Employ a multi-channel approach, incorporating social media, property websites, physical signage, referrals, and networking events. High-quality visuals, clear descriptions, and transparency regarding the property serve to heighten buyer interest.

3. Qualify Your Prospects:
Identify serious buyers at an early stage by assessing their budget, purpose, and readiness to proceed. This prudent approach enables the efficient allocation of time and resources.

4. Present Professionally:
Maintain professionalism during inspections or meetings. Provide accurate information, accentuate the property’s advantages, and address any concerns with clarity.

5. Negotiate with Integrity:
Strive for a fair agreement that satisfies both buyer and seller. Demonstrate firmness and flexibility to ensure mutual satisfaction and trust.

The Importance of Follow-Up in Real Estate Transactions

* Follow-up is the linchpin of successful property sales. As most deals are not closed on the first interaction, consistent communication is paramount.

* Keeps the Buyer Engaged: Regular updates serve as reminders of the property’s value.

* Builds Trust and Credibility: It exemplifies professionalism and commitment.

* Clarifies Buyer Concerns: Follow-ups provide an opportunity to address questions or doubts that could potentially delay decisions.

* Increases Conversion Rate: Consistent contact often culminates in turning interest into an actual sale.

Conclusively, while marketing serves to attract potential buyers, effective follow-up is instrumental in closing the deal. A realtor who communicates consistently, provides accurate information, and maintains professional conduct stands a higher chance of achieving successful property sales.

Hope this prepares your mind.

What changes are forthcoming in January 2026 under Nigeria’s new Tax Law?

Here are the key changes under the Nigeria Tax Act and other related Acts that take effect on 1 January 2026:

1. New Personal Income Tax (PIT) and Progressive rates

The first ₦800,000 of annual income is exempt (0%).

Above that, there are bands with increasing rates up to 25% for the highest earnings.

For example, earnings above ~₦50,000,000 are taxed at a 25% marginal rate.

2. Capital Gains Tax (CGT) changes

For individuals, CGT is now aligned with personal income tax rates (up to 25%) rather than a flat separate rate.

For companies, the CGT rate is increased (for many corporate cases) to 30%.

3. Definition of “Interest” expanded

Under the new Tax Act (“Nigeria Tax Act, 2025”), interest now “includes … any payment in relation to derivatives used in hedging securities.”

That means some payments tied to derivative contracts (especially hedging derivatives) are captured under the interest-income/interest-tax framework.

4. Other reforms

Various reliefs and deductions have been revised (e.g., Rent Relief replacing the old consolidated relief allowance).

There’s a “Development Levy” of 4% on assessable profits for certain companies.

New definitions of residency and a broader tax base (residents taxed on global income, etc.).

Stop being patient and start asking yourself:
How do I accomplish my 10yrs plan in 6months?

You will probably fail, but you'll be far ahead of the person who said it will take 10yrs.