Mr. Tunde Daniel is the 28-year old Chief Executive Officer of GPHS Realtors; he tells MOTUNRAYO JOEL why budding entrepreneurs must be professional in dealing with their customers
How long have you been involved in real estate business?
By next month, it will be exactly six years that I started GPHS Realtors. I never saw myself as an estate agent. In fact, I told my friends I could never be one and I meant it.
How did you turn out to be a real estate agent?
My dad was into real estate but had little time for it. After some years, due to his engagement in politics, he abandoned his real estate office made of plywood. When I finished school, I worked with two different companies. I resigned from the last one which was a travel agency because I wanted to set up mine but my dad wasn’t happy about it. He said I should get a job; he even threatened to stop giving me money or feeding me. I stopped collecting money from him and refused to eat in the house just to let him know that I knew what I wanted; and that I was determined to get it. Even though he threatened to stop giving me allowance, he kept sending my sisters to my room to give me money since he knew I didn’t have an alternative as at that time. Those years were not easy for me but I thank God I acted brave. I wanted to be a travel consultant, so I convinced my dad to use his abandoned office for my travel agency; that was June 2007. The furniture in the office comprised two benches and a wooden chair. For the first three months, only two people came in for consultancy on travelling and I did the consultancy for free. One woman was even afraid to give me her money to purchase a travel ticket after seeing my small poorly furnished office. But several other people came in looking for properties to rent. As time went on, I asked my dad questions about real estate and how to attend to clients in need of properties. He guided me and I also got materials on agency law. I asked questions from older agents too. In no time, people started seeing me as an estate agent. This was not my dream but it’s putting money in my pocket and food on my table. I can now say real estate is real business. The first commission I got was N3,750. But today, it is different; sometimes, in a single transaction, I could make N500,000. I rebuilt the office with block and furnished it. I started as estate agent but today, I am now an estate surveyor registered with the Nigerian Estate Surveyors and Valuers and I just got an office at Opebi, Ikeja. Those early years, I used to be shy of being an agent but I remember, six months after getting fully involved in real estate, I said to myself. ‘I will be ungrateful to God if am not proud of what I do.’
Did you study real estate in school?
No, I studied Psychology at the University of Ibadan and Air Ticketing at Eureko Aviation Training Institute.
Would you say you are fulfilled as a real estate agent?
Definitely, everyday, I thank God for what I have achieved, the respect I command and the result that accompanies my efforts. I walk confidently on the streets of Lagos; I have workers that I pay.
What are the challenges you face?
As a young man, people feel you cannot be trusted with their money since you are young and have many unfulfilled desires. Others feel estate agency is the job of retirees or older people.
Some clients walked into my office those early years and said I was an agent because there were no jobs in the country. I had to win people’s trust, prove my competence to them that I could get the job done better than older people and that I’m dependable. Someone I respect so much once told me: ‘You are just struggling; this can’t be a career.’ Truly, it didn’t look like it for a young man like me. Some of my friends, who were disappointed, felt I was better than just being an agent. In fact, one of my elder brothers was hurt and he said I was thinking small and wasting my life. He offered me an opportunity to travel to Canada to seek greener pastures but I turned it down. He was mad at me and said, ‘Whatever becomes of your life, don’t blame anybody because we’ve tried to assist you.’ I also remember telling myself on my way home that day after leaving his place, that I had my life in my hand and if I failed, I would blame myself. But today, they all respect me for my decision. I now have a voice in my family and my friends respect me. They now see me as a successful realtor.
Would you take any salary job if the need arises?
I won’t. How many companies can pay me N500,000 per week and allow me to come to the office anytime I want? I’m not saying N500,000 comes in every week but it does come in sometimes within a week. As an entrepreneur, I have freedom, I’m in charge of my time, I can mix leisure with work and still won’t lose out. For instance, I had a meeting at a law firm last week around Yaba, the traffic was heavy on my way back to the office, so I stopped at a cinema, saw a good movie, ate pizza and waited for traffic to subside . How many bankers can do that during working hours?
What would you consider your greatest mistake since you started your business?
I hired people I knew would leave the firm as soon as they had an alternative and not people with vision and foresight. I did that consistently and they always left. I am not saying I want to keep anybody forever, but no firm grows by changing workers every six months. I cannot always be the brain behind the company if I want my dream for the company to come to pass. In this digital age when everything moves at the speed of light, my company needs capable hands, people who believe in the ideology of the firm.
What are your growth plans?
To have a name globally recognised in the real estate and construction industry in Africa. We are also channelling our energy into construction. We just recruited a civil engineer and built a mini shopping complex early this year. We are also planning to open an office in Nairobi, Kenya, by October this year. I plan to train as many people as possible that sincerely have interest in real estate and put them in charge of our company’s branches.
Many people think real estate agents are the reason property is expensive. Do you share this view?
People need to understand that we are commission-based payees. We only charge 10 per cent of the rents as our service fee and five per cent on sales. The problem in this part of the world is that landlords don’t consult valuers before fixing the prices of their properties. And when you complain, they call another realtor or agent. These landlords still accuse you of under-valuing their properties. I think rents should be regulated in this part of the world too. Rent and tenancy law should be enforced; if this is done, real estate stakeholders will sit up.
What are you doing to ensure professionalism in your business?
I familiarise myself with the tenancy law of the country and abide by it. I also read related materials, attend trainings and render quality services to my clients.
What is your greatest fear as an entrepreneur?
It is scandal. It’s destroys reputation. Business will never be the same if the name you built for several years of toiling get spoiled overnight. No matter how clean a man or company is, when the word is out, you can’t take it back and it will take real work, time and resources to clean your name. Scandals rob you of opportunities, people are afraid to deal with you because of what they have heard, be it true or not. I do everything to avoid it, no matter what it will cost me. That’s part of the game. Protect your name at all costs, for you don’t know where the next opportunity is coming from.