27/09/2025
The Critical Mistake Every Realtor Must Avoid: Lessons from the Case of Mr. Richard, Vice Chairman of the Bayelsa State Real Estate Association
This scenario highlights a mistake that all realtors should steer clear of—a mistake that led to the tragic demise of Mr. Richard, Vice Chairman of the Bayelsa State Real Estate Association. According to accounts narrated by Very Dark Man, the incident involved Mr. Richard (a realtor) and Mr. George (a landowner).
Trust is the Foundation of Every Real Estate Transaction
In real estate dealings, trust acts as the backbone that facilitates transactions. However, trust alone is insufficient; it must be complemented by adherence to proper procedures. Failing to follow standard protocols can lead to greed, legal complications, and even personal danger.
Key Principle: Never Allow Money to Change Hands Without Verifying Documents
Under no circumstances should a client pay money to a landowner without first scrutinizing the original land documents and obtaining copies. Transparency and verification are paramount to avoid pitfalls.
Standard Procedure for Land Transactions
1. Document Verification
The landowner should present the original land documents.
The realtor must verify these documents' authenticity through the Ministry of Land or relevant authorities in the state, confirming that the land is duly registered.
2. Due Diligence Beyond Official Records
Conduct discreet local inquiries to uncover any disputes related to the land.
Confirm the true ownership of the property and trace how ownership was transferred to the current owner—this should be done secretly by the realtor, without the seller’s knowledge.
3. Property Measurement and Legal Documentation
Engage a registered surveyor to determine the actual size of the land.
Have a legal practitioner prepare essential documents such as:
A deed of assignment (transfer of ownership)
An irrevocable power of attorney
Note: At this stage, no money should be exchanged.
The Transaction Meeting
Once all documents are prepared:
Schedule a neutral, public meeting space for the transaction.
Participants should include:
The landowner and a witness
The buyer and a witness
The realtor
Any other relevant parties involved in the transaction
4. Completion of Payment and Transfer
The buyer transfers the agreed payment to the seller during this meeting.
Upon confirmation of receipt, both parties sign the documents:
The seller receives a copy of the new deed, now establishing them as the formal owner.
The seller hands over the original land documents to the buyer, who receives only copies, not the originals.
At this point, the transaction is legally complete, with all parties satisfied and protected.
The Underlying Cause of the Incident
The tragedy involving Mr. Richard occurred because the realtor placed 100% trust in the landowner without adhering to these standard due diligence procedures. Such blind trust is perilous.
Final Advice
No real estate deal is too small—whether involving hundreds of thousands or millions of naira. While trust is necessary, it must be backed by proper verification. Trusting someone without verifying documents and following due process is akin to buying land without proof of ownership. It’s a ticking time bomb that can lead to disastrous consequences.
Remember: Always follow the established procedures, verify documents thoroughly, and never exchange money before confirming the legitimacy of the land and its ownership. This is the only way to ensure safe, successful transactions.
