5 Pitfalls Upcoming Real Estate Entrepreneurs Must Avoid To Build Successful Career

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Acting Chief Executive Officer and Managing Director of UPDC Plc, Deborah Nicol-Omeruah

Chief Executive Officer and Managing Director, UPDC Plc, Deborah Nicol-Omeruah has advised prospective entrepreneurs who want to build careers in the real estate industry on the pitfalls they must avoid to build a successful career.

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Buy Property with Good Title

Make sure you buy property with a good title – you can end up in years of litigation if you buy a property from the wrong person or one with liens or challenges with possession

Choose Your Partners Carefully

Do your due diligence on partners, and make sure your end goals and ethics are aligned. You want to build the right reputation for yourself by working with the right people.

Don’t Over-promise and Under Deliver

Don’t over promise and under deliver – this could ruin your reputation, so you should always try to manage people’s expectations properly.

Do Your Research Before You Start – know when, where, who, how much, and what to deliver

Have Integrity – be honest in all your dealings, and follow all building rules and regulations, this could help avoid costly delays, shutdowns, fines, and litigation.

Deborah is a real estate professional and a certified mortgage and financial adviser (CeFA, CeMAP) by the Institute of Financial Services in the UK, recognised industry expert in the Nigerian mortgage and real estate development market, and served as a non-executive director on the Board of Trustbond Mortgage Bank Plc (now FirstTrust Mortgage Bank Plc) from 2015 to 2019.

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She joined Landmark Africa Group as Chief Operating Officer overseeing property development and corporate finance activities, and then moved on to Broll Property Group as Africa Asset and Transaction Director for Standard Chartered Bank, before joining UPDC in 2019 as Chief Commercial Officer.

 

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