The internet is fast becoming an integral part of the modern society and our everyday lives. From the time the internet came into existence and social media emerged as a result, it has been used as a platform for connecting with people and communities, encouraging interactions and sharing content. Social media according to Wikipedia, the Free Encyclopaedia, refers to the means of interactions among people in which they create, share, and exchange information and ideas in virtual communities and networks.

We find today that lots of people are plugged into the internet in more ways than anyone ever imagined. The irresistible force that the internet holds and the vast opportunities it offers attract users of all sorts to explore its potentials and use its resources to the advantage of their businesses. Over the past few years, real estate professionals have found creative ways to overcome the real estate crisis, including finding innovative uses for social media. Real estate professionals have therefore been forced to develop their offline skills in an increasingly social way online. To be successful in an ever increasing competitive market, businesses must adapt to modern technology and trends, employ the use of social media as a platform to reach out to the public, interface with its target market, build a solid database and market their diverse products. The 2012 Social Media Marketing Industry reports that;
a. 94% of all businesses with a marketing department used social media as part of their marketing platform.
b. Almost 60% of marketers are devoting the equivalent of a full work day to social media marketing development and maintenance.
c. 85% of all businesses that have a dedicated social media platform as part of their marketing strategy reported an increase in their market exposure.
d. 58% of businesses that have used social media marketing for over 3 years reported an increase in sales over that period.
The use of internet in real estate is however not an entirely new trend. Social media has been used in the real estate sector as a very strong tool for communicating, promoting and selling. In the real estate world, listings, open houses and tours are the main triggers towards making a sale and online communities have made all these much more easier. The core objective of real estate professionals or companies utilizing social media is to generate leads/businesses, build brands (on an independent and corporate level) to attract sellers and buyers alike. Real estate professionals, brokers and realtors use the following mass social platforms such as Facebook, Twitter, Linkedin, Youtube, Instagram, and Blogs.

• Facebook
Facebook is a great online community which boasts of nearly one billion users. The primary method used here is by creating a “Page” where information about the business is uploaded in the profile section. This platform allows realtors to share their listings using pictures, videos and information. Events for open house and display of upcoming activities can be uploaded in the “event” feature. Clients can have live personal/group chats or interactive discussions with realtors. Most liked or shared posts/topics are easily monitored. This way, realtors are aware what attracts people’s attention more, what does not and how engaging they are.
• Twitter
This has been described as the fastest growing social media network and now a marketing tool which allows the user post updates of up to 140 characters at once. It also allows the user give straight to the point information on products and offerings. It offers a great opportunity for real estate professionals to promote properties to a wider market. Twitter acts as a free press release tool that can generate traffic to a company’s site when enough followers have been built up. It creates room for a two-way interaction with potential and existing clients, thereby building trust, loyalty, lasting interpersonal relationships and ultimately the brand.
(To be continued)

Continued from last edition
For real estate companies to have an excellent customers’ service, below are some vital factors that need to be considered for implementation on a consistent basis:

• Eliminate procrastination – As much as possible, try to respond to your clients promptly. If the request is time consuming or cannot be delivered at the moment due to unavailability or other factors, try to inform the customers in advance, providing a timeline to deliver on the request/task. This way they are prepared and aware of the situation or else, have an option of opting for an alternative. But if this can be avoided, it is better to respond promptly.

• Answer the phone – Customers always almost reach for the phone in the event that they need to lay complaints about a service before sourcing for other options. It can be upsetting to call the customer care of a business without receiving any response. Ensure that the phone is answered at all times. People prefer to lay their complaints to real people and robots or recorded messages.

• Keep clients updated – Constant status updates keep clients abreast with ongoing situations about a project. Informing them of a development’s milestones, construction, repairs or maintenance progress, changes made if any, market analysis etc gives them some sort of reinforcements that they’re involved in the project and more confidence in the project itself.

• Be Reliable – Being reliable is a major factor in delivering on good client service. Never make promises if there is no guarantee of keeping them. It is better not to promise than to promise and fail. A client will most times want to continue doing business with a company who stays true to their words in terms of appointments, deadlines and delivery. It goes a long way to show the company’s level of professionalism.

• Always listen to your Customers – It is paramount to try to listen and understand what a client is communicating. Some clients have difficulty expressing themselves or can be ambiguous with words. Still, it is the responsibility of the customer service personnel to ask for clarification where there isn’t any to avoid the customer leaving with the joy that there was understanding while there wasn’t. Such can only lead to more complaints, unsatisfied customers or worse more, bad publicity.

• Be well informed – Knowing all there is to know about the project or service and having up-to-date information that answers to customers questions or needs put the company in a position of confidence and professionalism. Train your staff to be knowledgeable and courteous and always helpful. Knowing the basics of customer service interactions equips them better to handle those curious and questioning clients.

• Be Patient – Refusing to display agitation to the knowledge of your callers who either derive pleasure in pushing peoples buttons or do not in truth understand the message been relayed to them takes a lot of practice and expertise. It is important to maintain professionalism at all times.

• Go the extra mile – Often times, clients come up with one request or the other. Whatever that extra step may be, good client service takes it. Clients always notice or know when an extra effort was put into delivering on task, and though some may not say it, others actually show gratitude or appreciation. Now, not only will these lead to an indebted client, it would have paved a path for future businesses or transactions.
Many more companies are turning to good customer service to differentiate themselves from the competitors. This is the only way they can stand out. This is why Customer Service is essential in real estate.

• Under-promise and over-deliver – The level of expectation in today’s real estate environment is so low that simply doing what you say you are going to do or following up when you say you will follow up is often all it takes to make a customer happy. Never promise what you do not mean or are incapable of offering. Doing a little more that the customer expects makes a positive impression and ensures repeat business or at the very minimum a referral.

In today’s world with the overload of information, the fast pace of life and the exposure to boundless real estate services; personalized services and full customer experience is a powerful value proposition and differentiator.

WHAT IS CUSTOMER SERVICE?
Customer service as defined by Wikipedia is the provision of service to customers before, during and after a purchase, According to Turban et al. (2002), It can also be seen as the knowledge delivered with care to make life easy for the customer. Customer service is a collection the different activities that a company has designed to enhance the level of customer satisfaction by satisfying the customer needs and exceeding their expectations. It is that one-on-one contact with the customer.
Good customer service involves the careful development of personal and interpersonal relationships with customers and gaining confidence of new customers plus solidifying those of the old customers via the product or service been offered. Unfortunately in recent times, many businesses have lowered the standards of customer service with inconsistent delivery of promises while customers have equally lowered their expectations and therefore expect poor service at all times. Companies with proactive attitudes can leverage on this to their advantage by applying enforceable customer service strategies and tools to maintain the old customers and attract new ones.

SIGNIFICANCE OF CUSTOMER SERVICE

Quality customer services have the following positive outcomes:

a. It adds value to the product or service the customer purchased from the company because the customer leaves feeling he/she has bought a product worthy of the amount paid for it.

b. It offers competitive advantage to the customers and provides an opportunity for elaborate understanding of the product.

c. Good service creates a good public image for the business by elevating the brand in the public eye which is essential in order to survive competitive business.

d. Without the customer there is no business, therefore the customer is very important. Excellent customer service leave customers satisfied. And these customers would most likely do a repeat business in the future, would help spread the word/give referrals, become loyal customers who in turn would result to increased sales and profits. On the Contrary, companies with poor customer service may lose customers and this would definitely have a negative impact on the business. It would cost much more money for a company to acquire a customer than to retain them, due to advertising costs and the expense of sales calls.

e. Customers always have complaints about a product or a service from time to time and require support in solving those problems. Good customer service that address questions, answers to complaints or problems timely leave customers satisfied. These results in fewer complaints from the customers and shows the customer that the company cares about their satisfaction and happiness.

f. A good customer service can also increases the morale and confidence that customers have in a product or service.

g. It converts your clients to your raving fans.
Because customers are vital to any business, real estate companies need also to be well equipped in offering real customer service solutions. However, good customer service is not easily achieved. It takes time to establish. It requires investment to deliver consistent standards. What real estate investors and end users are really interested in today’s investing environment are competence, expertise, intelligence, transparency and availability. They want to do business with people that help them feel comfortable with making investment decisions, people that answer their questions promptly and appropriately, people that invest time ensuring that they are satisfied at the end.

Customers should always feel special whenever they experience your brand. This is very important to the real estate business which majorly thrives on referrals to survive.

(To be continued in the next edition)

COMMERCIAL real estate according to Wikipedia refers to buildings or land intended to generate a profit, either from capital gain or rental income. Commercial real estate includes office buildings, strip malls, restaurants, and any other real estate in which people conduct business. Investing in commercial real estate just like any other business decision has its risks and benefits. There is the need for expertise and careful strategizing before a well-informed decision can be reached on whether or not to purchase or lease commercial real estate. There are some basic steps to take before you purchase commercial real estate and they are outlined below:

1. Analyze the risk and benefits of purchasing commercial real estate
When making the decision to purchase a commercial property, it is important to take into consideration the potential risk and benefits that a purchase may hold for your business. Some of the risks/benefits involved in investing in commercial real estate are as follows:
• Buying into commercial real estate may be more beneficial than leasing if you are buying to maximize return on investment.
Owning your commercial property adds to your asset appreciation over time, which means that your company’s equity grows. It is critical to buy commercial properties in the right location. The right location ensures that your business is at the heart of a select target audience and is easily accessible by your clients, key suppliers, and associated businesses. The right location also conveys a certain kind of impression to your target audience which in turn benefits your business. It is also important to note that the locations that are “hot” today might not be so tomorrow and vice versa.
Buying commercial real estate when the finances to do so is not readily available can lead to loss of liquidity.
• The income that a piece of commercial real estate produces is directly related to its usable square footage which leads to higher yields.

2. Seek advice from a team of experts. When considering the option of buying commercial real estate, you need knowledge and experienced advice before you go ahead with the purchase to enable you to make the right decisions. Your team should be properly selected based on their track records and working styles. The team should consist of a Real Estate Professional who specializes in commercial real estate to help select suitable properties in a preferred location within the budget and also facilitate negotiations between buyers and sellers; an Attorney to conduct due diligence on the property, prepare formal offers, reviewing all documents, and ensure contracts are sufficiently detailed and structured to your maximum advantage; an Accountant to help figure out what your business can afford and analyze the tax and operating budget benefits; an Insurance Agent to ensure your assets; a Business Advisor to provide solid perspective and advice in the financial process; and/or a Mortgage Broker/Lender to provide finance if required.

3. Choose the property wisely
Some of the things to take into consideration when choosing the right commercial property for your business including location, accessibility, sale/lease price, size and layout of space, type of building, construction, available facilities including administrative support and meeting areas, car parking, security, opportunities for expansion, and lots more. Once you have shortlisted the commercial property that best suits your requirements, work with the owner at the right price.

4. Get financing for the purchase of the property
Make sure before you apply for any mortgage (if needed) you already have the down payment covered, as well as proof of income to cover the monthly payments. Commercial properties generally attract a higher down payment than residential properties. At this point, you need to have your lawyer explain every detail of the sales purchase agreement (SPA) so that you know exactly what your rights and obligations are. Commercial real estate like residential properties is also affected by the law of demand and supply.

There is no one-size-fits-all strategy for purchasing commercial real estate. That decision must be weighed by individual businesses and their specific requirements and goals. Investing in commercial real estate is a long-term affair and it is important you get it right from the start.

Fine and Country is delighted to present you the opportunity to invest in commercial real estate. Introducing our current iconic commercial real estate listings available for sale and lease.

The Greystone Tower

The Greystone Tower is an iconic 18-floor mixed-use development strategically located at the intersection of two major business hubs (Idowu Taylor and Engineering Close) in Victoria Island Lagos. Featuring Ten (10) floors of commercial office spaces, One (1) floor consisting of 4units of 3-bedroom residential apartments, five (5) floors of parking space, a ‘concessionary floor’ with Restaurants, Café & Gym to enhance the lifestyle factor in the building, Greystone promises to be one of the finest developments redefining the Lagos city skyline with its organic and responsive warm clear glass façade. With a size of 11,230 square meters of commercial/office spaces, Greystone tower’s rental charge is $650/m2/P.A.

ONE6 TEMPLE

One6 Temple is a new landmark that offers flexible office spaces on 14 floors, to suit the ever-changing, dynamic needs of fast-growing organizations. ∙ Each floor measures 1000sqm (Can be subdivided into 3 spaces). Each floor has 4 female restrooms, 4 male restrooms + 2 urinaries. Also included is a dedicated manager’s restroom and kitchenette, State of the art Granite finishing for internal lobby walls and floors, 24 Hours Security with CCTV cameras, 4 lifts/Elevators, 24 hours power supply guaranteed with 3 units of 810 KVA Generators and 2 dedicated 2MVA transformers, Access Control System, CCTV System and much more. It is located at 16 Temple Road, Ikoyi, Lagos (At the intersection of Temple road and Alfred Rewane road, Ikoyi) and its floor size is 969SQM/ floor – 2 Floors Available. One6 temple’s rental charge is $650/m2/P.A.

NESTOIL TOWER

The Nestoil Tower is a one-of-a-kind mixed-use development strategically located at the intersection of two major business districts (Akin Adesola Street and Saka Tinubu Street) in Victoria Island Lagos, with a panoramic view of Eko Atlantic City and the Atlantic Ocean. The development is targeted at dynamic businesses, multi-national industries, financial institutions that require top bra Raised Floor for underground cabling, and flexible configuration of Office spaces. Available on all leasable Office Floors are Double Glazed Curtain Wall Systems to minimize solar heat gains, Borehole and Water Treatments, Dedicated Transformer with 2 units of 1.3mVA and 1unit of 910kVA Generating Sets. A Total of 4,379 Square Meters of Premium leasable Office Areas are available, Flexible floor plate, Kitchenettes and storage rooms available on each floor, 8 restrooms per floor (including disabled toilets), 4 passenger lifts/Elevators, Car Parking Facilities for over 225 cars on 18 split levels, A Helipad, Restaurant/Café/Coffee Room, etc. The rental price is $750/m2/P.A.

THE FINERY

The Finery has executive office suites and workstations for lease in Lagos most revered business Location. The Finery is an experiential Office Resort Centre that actively promotes creativity, profitable commercial activities and championship. The workspaces are specially designed for corporate organizations looking for flexible short, mid, and long-term office suites and work stations for their business needs. The finery is located at 10, Onisiwo road, Ikoyi, Lagos and is made up of the west and east wings. The west wing has 5 suites overlooking the garden and pool area, car parking – 3 cars onsite and the rest offsite on a first come first serve basis, a dedicated restroom and rental payments below 1 year attract a premium. The east wing has 3 suites and large open plan office overlooking the studio area Car parking – 3 cars onsite and the rest offsite on a  first come first serve basis and a dedicated restroom. Rental payments below 1 year attract a premium. The offices come fully furnished “Plug and Play” with the following facilities: workspace and furniture which include: Work desk and chairs, land phones configured to the central PABX and Filing cabinets and a host of other provided services.

For more information on these Commercial Real Estate Listings, contact 08096000042 or 08096000043.

How to Future Proof Your Real Estate Investment

The Real Estate industry can be very dynamic. Although very rewarding for the investors with foresight, it could be quite frustrating for the one who dives in uninformed. This is because the Real Estate sector is easily affected by political and economical factors such as a change in government policies or even fluctuations in interest rates. Since investing in real estate is a huge financial commitment, every wise investor needs to be sure of what the future holds before
putting in his hard-earned funds. This article shares tips on how you can future proof your investment and ensure that it not only stands the test of time but of course brings a maximum return on investment. At Fine and country, we address this with a mantra we call the 5-Ws.

Who: Who is the developer? It is important to know who is behind the development and if they have a track record of completion, or if it is their first time. The same applies to the contractor.
Will the building be completed on time and to the stated quality? It extends also to future management.
What: What is actually being developed? The development must be relevant to the market and its location in order to raise finance and not end up as a paper project. The development should have the relevant facilities required by its target market. For example, a development describing itself as luxury should have at a minimum in this location, basic lifestyle amenities such as a pool and a gym to justify the asking price. The luxury of course should go beyond basic amenities and should typically offer features that create a sense of exclusivity and desirability
that regular buyers would aspire to. Luxury is after all more about a sense of pride and accomplishment more than anything else.

Where: Where is the development located? Location is more than Just its immediate surroundings. Important location considerations include the area’s security, access to transportation, proximity to good schools, hospitals, restaurants, leisure centers, etc.

WoW!– Does the development have the wow factor? That something special that sets it apart from the competition. This can be a combination of many things from extraordinary views such as Lakowe Golf Estate and Asokoro Gardens Abuja, defining water features such as the man-made twin lakes by Chevron, including the use of technology and distinctive architecture. These types of features not only attract the initial buyer but also underwrite the value of Your investment long term. I conic projects speak for themselves, create an enhanced return on
investment and retain their value long term.

Fine and country believe that the future of premium real estate is in future-proofing developments by investing in not just iconic but relevant design niche marketing, technology innovation, and sustainability as the key drivers for value. We believe that these are strategic areas of enhancing stakeholder values across the board, ranging from investors, financiers to owner-occupiers and users

Testing out our mantra on the Adler project we have the following outcomes:
● Who: The Adler Project is being developed by well-known developers that are respected for surpassing industry standards when it comes to quality.
● What: The Prestigious Adler Residences, is an off-plan development located in Lekki Phase 1 by end of Admiralty Way, Off Freedom Way, consisting of 4 bedroom terraces and 4 bedroom Semi-detached apartments.
● Where: Located in Lekki Phase 1, away from all the city noise and within a secure gated community, Adler Residences promises a high-end luxury family-friendly experience that is in close proximity to everything required for complete living.
● Wow: Adler Residences is armed with luxury amenities that simply make life blissful. A dedicated cycling track that ensures that residents can safely ride their bicycles without worrying about cars running them down, a Standard Lawn Tennis Court, Central Swimming pool, Children’s playing ground, 24 Hours Power Supply, High tech Central Security and Access Control, Water Treatment Plant Waste treatment, 24 hours Mobile Police Patrol, this is indeed where life finds you.

● Felxible Payment Plan: With a flexible payment plan with a minimum 25% deposit with a balanced spread over 18 months on a quarterly basis, the beautifully styled floor plan and refined ambiance of Adler Residences deftly set the scene for the experience that awaits you.