By Lawani Mikairu

 Trustcrow, a property and  real estate group , on Wednesday  launched their flagship products. The products  called Title Search Report and Property Inspection Report will protect buyers in the real estate sector.

Speaking at the launch event in Lagos,  Managing Director of Trustcrow, Mr Joseph Orji said the two platforms will enable buyers who want to acquire properties, land, completed and uncompleted buildings to have access to a reputable and credible channels to conduct their due diligence online, in respect to the properties they want to acquire .

He also said the “platforms ensure transparency, integrity and a market place where buyers, renters, sellers, brokers and landlords can engage with confidence, knowing that, their interests are protected and their transactions are secure. “

According to Orji, both products which are available in Lagos, Abuja and Ogun States for now, can be accessed with the payment of minimum fee of 100,000 naira.

The two products are tailored for domestic market in Nigeria and those in the diaspora because of its digital inclination. subscribers can conviniently pay for the service anywhere in the world.

Narrating how the concept started, the Managing Director said “We have looked at different products and we have built different products. It was late last year, we focused on these title reports. We now bring in the marketing team. We focused on the Title Search Report product in Q4 last year. In Q1 this year, we built up our marketing team to now take the market. Incidentally, we are now launching it into the market in the second quarter. That is the reason why we are here today”.

Orji also revealed that what inspired the idea was  series of pains that people go through in the process of buying a property in the country.

“Pain inspired us to launch these products. We have seen property transactions messed up. That inspired us. Those tragic incidents made us find out that other people have  also been messed up. We found out we weren’t alone in the mess up.  They lost money, time and go to court with lots of pains. So we said there was a need; based on these problems.

“The products can now fill that need. That was how we developed both the Title Search Report to focus on title verifications and the Property Inspection Report to validate deal quality”,

He further said that the primary target audience for the products are the first time buyers and the diaspora buyers while the secondary target audience are the investors who are bent on doing things differently and more efficiently.

 Although, Orji acknowledged that both Title Search Report and Inspection Reports have been in the system for decades, he however, assured that what makes the new products unique is the fact that they  are more modern way of doing transactions. They are online and digital.

In her presentation, Product Manager, Trustcrow, Haleemah Folagbade said that Trustcrow  created the platforms  due to a critical need that arose from the real painpoints of buyers in the Nigerian real estate industry.

Explaining how the app works, she advised buyers to always go for properties that have registered titles.

“We usually recommend that when you are buying property for the first time, you need to ensure that you are buying from a seller that has a registered title. It means that you have a Certificate of Occupancy or governors consent and the samples are indicated there”.

“There are some people that directly bought the property and they were not informed. It is after they bought the land, they now say let me conduct a search of the property. This means they will be the ones to register the property themselves”, she said.

“The good thing about our title search report is that we are not just providing you with random reports. We are actually providing you with information and access. A kind of green light, red light kind of data to say either you push forward or stay away. We leverage our legal partners to conduct a comprehensive report that would give you the right information to push forward or not”.

Speaking on the validity of these reports, Folagbade said, “is only meant for the transaction, after which it expires as soon as transaction is done and title has been transfered.”

On the advantages of the report, she said “Inspection report is to get a detailed assessment of  a property condition including structural integrity, potential issues. The report is also something that can be a deal breaker in a particular transaction. It could be a way for you to negotiate lower terms in the asking price”.

To make their domain secure and free from cybercrime, the Product Manager assured that, the company which works in collaboration with the State Governments, Surveyors-General Office, legal firms and other relevant agencies also conducts both internal and external cybersecurity audit from time to time to check security gaps.

She also informed that Trustcrow has their legal partners that can independently provide legal informations, draft contract of sales, Deed of Assignment and other relevant documentations that may be required.

In his remarks, Sales Manager, Trustcrow, Michael Okonkwo said that Truscrow  aspiration is to be known as a platform that has the back of property buyers.

“We came for customers and we are interested in them to be safe. We advise you to buy or not”, Okonkwo said.