NIGERIAN REAL ESTATE LICENSE

Being a licensed Real Estate Practitioner sets you apart from the average everyday real estate agent…

Having a real estate practitioner license portrays you as a professional who has gone through the legal and required training to be called a Real Estate Practitioner; it shows that you can be trusted to give professional, credible, and reliable advice when it comes to real estate.?

Just like other professions that have a regulating body, that ensures that each person undergoes specific formal training and meets listed educational requirements before they can be called professionals in that field - for example, ICAN (Institute of Chartered Accountants of Nigeria) regulates Accountants, NBA (Nigerian Bar Association) regulates Lawyers, etc., NIESV (Nigeria Institute of Estate Surveyors and Valuers) regulates the activities of Real Estate and Estate Surveyors, as well as a number of regulatory bodies for the various professions contained in the Real Estate industry.

These professional bodies and regulatory bodies exist to ensure that professionals have all it takes to be practicing in whatever field they preside over, hence, the need for a license to practice.?

So if you wish to practice as a Real Estate Professional, you will have to be duly certified and get your license to practice.

Getting your license as a Real Estate Practitioner is not as complicated as you may think. Here are some requirements:

• Be at least 18 years of age?
• Be a resident of Nigeria
• Complete a licensing course approved by the government (either from NIESV or a similar approved institute)
• Write an exam?
• Pass it with 60 marks
• Clear your criminal records
• Pay the fees of about ?5000 (which may change over time)?

After meeting the above-listed requirements, here is how to obtain your license:

• Visit the real estate regulatory website of the state you wish to practice in?
• Apply for a real estate license?
• Pay a fee of ?5000 (or more as the case may be)
• You’ll be given an exam to write (this is optional in some states)
• Fill out the form provided
• Wait for about 3-6 months after meeting all requirements and passing the exam(in states that require an exam) and then receive your license?

There is also a need to get yourself registered as a member of any of the Real Estate professional bodies that best suit your area of expertise as a licensed practitioner.?

In conclusion, We hope you have been greatly educated on the importance of having a license as a Real Estate Practitioner, the requirements you need before applying for your license, and how to apply for your license.?

Thank you for reading. We hope to answer more of your real estate-related questions as well as lead you through your real estate investment journey.

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