Real Estate Companies in Ghana: 5 Red Flags to Look Out For

Real Estate Companies in Ghana: 5 Red Flags to Look Out For

Let’s talk about the terrible real estate companies, shall we? Not all real estate companies in Ghana will serve you right, as much as you’d hate to see that.

It hurts most when you waltz into that trap. It’ll feel like a trap you can’t from which you can’t escape. 

If you’re unfortunate, you’d have sunk some money into a terrible deal. Or at least wasted precious time you can’t recoup.

You may have to go through many legal battles, but sometimes to no end. The heartbreak you’ll endure because you dealt with the wrong real estate company can leave a sour taste in your mouth. But when you spot signs of trouble early enough, you can avoid the stress. And you’ll give yourself some much-needed peace of mind. 

Here are a few red flags you can’t ignore when dealing with fishy real estate companies.

Undue pressure coming your way

Ever felt uncomfortable with the undue pressure an assign of a real estate company gives you to get a deal over the line? Beware!

While the best real estate deals attract lots of interest, with the possibility of someone snatching one right from you, you still have to do your due diligence.

Usually, that’s where the dangerous real estate companies will try to speed you along the path. They may get you to make a financial commitment when you’re unsure about the move.

Real estate is usually a high-risk, high-outlay business. And anyone pressuring you into a real estate investment deserves scrutiny. If you miss out on a business because you erred on the side of caution, so be it. Another deal will come along later.

Inconsistent stories

When supposedly legit real estate companies tell you stories that don’t add up, that’s a waving red flag of concern you can’t ignore.

Yes, given the informal nature of many real estate practices in Ghana, there are bound to be loopholes in a few transactions. From missing documents to family disagreements over the ownership status of some properties, we face these challenges daily.

But when addressing these stories, listen to what the real estate company tells you. And how new versions compare with previous ones they may have told you – or someone else you know. 

If you spot any inconsistencies, you can confront them for clarification or run for your dear life.

Undisclosed fees

This point annoys many customers, and rightfully so. Some real estate businesses have a funny habit of hiding details of fees until they get you to commit first. 

Then they spring these surprises on you. At that time, you’ll have a less-than-ideal path to pull out of the deal or the obnoxious option to proceed and pay the hidden charges. Before you engage the services of any real estate business, ask for details on any fees you can expect to pay. 

If possible, have them put these points in writing so you can use them as a receipt should they spring any surprises later. That little gesture of indemnity will force both of you to stay on the right path till you shake hands on the deal you’re working on. Win-win, I’ll say. Don’t you think so?

A desk showing a Mac, notepad, and a phone

Questionable customer service

Top-notch customer service is a must when dealing with real estate firms. And the top real estate companies in Ghana will give you that.

Think about how much money you’ll potentially spend on any transaction. And if the real estate business can’t give you acceptable levels of customer service, that’s a red flag there’ll be even more terrible after-sales support.

And you’ll need loads of customer service in the form of reassurances.

Look out for the traces of impeccable customer service – or a lack thereof, in how they do the little things. How promptly do they reply to your emails? How do they treat your requests for further information? Do they respect their time and yours? These may be little points but can show how things will happen later.

Trashing of your requests

When you’re going into a real estate transaction, you always have a fair idea of what you want, if not the exact request. (From experience, some custom-client requests are notoriously hard to meet, but that’s okay).

Some real estate companies don’t think twice about overlooking the customer’s requests. And there’s no brighter red flag than that. If you ever encounter that as a customer, that speaks volumes about the kind of real estate company you have on your hands. Should you go ahead and work with them? I’d say no.

In the worst-case scenario, even if you make an unusual request that the real estate company can’t meet, they should inform you officially and suggest alternatives.  That sounds better than forcing their own move down your throat.

Spot the rotten nuts among the real estate companies

These points may not always appear while dealing with some real estate companies. And as diligent as you are, you can do nothing about that. But when you pay extra attention, you’ll notice a few little red flags popping up along the various stages of the journey.

And if any of these show up, you can confront the real estate company about these factors. Or you can cut ties with them altogether. Ultimately, you want to look out for yourself.

Looking for a trusted real estate company to help you with your real estate brokerage, advisory, and management needs? Email today to get started. 

Share on social

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts