• To Help Promote Their Properties
Real estate business in Nigeria has become a battlefield for the fittest. It has become a rat race and competition among players in the sector. In the last few years, the real estate business in Nigeria has been booming, especially in Lagos considered the hub of the real estate activities.
Earlier, it had been predicted that in 2020, the real estate sector would be the centre of rapid social and economic growth that would surpass what had taken place in the past four years. During the recession, the sector was one of the most negatively buffeted sectors. Now, it is set to bounce back after stabilising itself in 2019.
It was also predicted that in 2020, there would be a broader range of opportunities with new value drivers as a result of some economic and social policies, which the government has started implementing. It was speculated that there would be migration to new areas, new markets and cities especially for the middle class, thereby increasing the demand for specific types of real estate. But these, in one way or the other, were delayed as Coronavirus pandemic wreaked havoc on the world economy. But despite COVID-19 negative impact on the economy, both public and private sectors, the real estate industry has recorded bubbling activities. In Lagos, for example, many players have testified that they had recorded huge sales since the advent of Coronavirus and they didn’t feel the negative impact of the virus on their businesses.
Talk of Mr. Bamidele Onalaja, the MD of RevolutionPlus Property Company, he disclosed that he made more sale during the Covid-19 period than what he would have ordinarily made in a year. The same goes for Aare Adetola EmmanuelKing, MD, Adron Homes & Properties, and many others.
To boost their business, It is now a vogue for real estate companies to use popular faces to market their products. Gone are the days when real estate business used to be very strict and conventional. These days, property companies are now using celebrities to promote their products, endorse them and also to make them popular.
Popular Yoruba actor, Odunlade Adekola, over a year ago, was signed on to be the face of RevolutionPlus Property Company. The company has about 4 brand ambassadors. They are: Testimony Jaga, Omoni Oboli, and recently it signed on Toyin Abraham. These four ambassadors have done very well in promoting the company’s brand.
Other celebrities, who are equally doing wonderful well include Saidi Balogun, Bolanle Ninolowo and many others, who have been doing wonderful jobs for Adron Homes and Properties as ambassadors. Bolanle Ninolowo was signed on a few weeks ago and he has pulled a large crowd to benefit his principal.
What about Prince Jide Kosoko? He is an ambassador for Merit Abode properties and he’s equally doing well.
Recently, powerful Nollywood couples were signed. Late last year, Smartbricks Properties signed Damola Olatunji and his wife, Bukola ‘Arugba’, as the company’s brand ambassadors to promote what the firm sells. Recently also, Adeniyi Johnson and his beautiful wife, Seyi Edun, signed an ambassadorial deal with KAB Constructions Company. This is also a deal that would help the company to be more popular.
Below are the reasons real estate companies now go for celebrities
The number one reason real estate companies make use of celebrities as ambassadors for their companies is that they want to be more popular, which could be achieved through celebrities. They (real estate companies) believe that, once the artistes could speak on behalf of the company once signed on, the firms would build goodwill and attract people who are followers and fans of the artistes.
THEIR ONLINE PRESENCE
This is one reason many artistes are being signed as brand ambassadors. If someone or a celebrity has about 2 million followers or above on his/her Instagram account, he or she has a better chance to be signed on as a brand ambassador because it would help the company sell and market its products and services through the artiste’s platform without stress. This has been considered to be no1 yardstick before a deal could be struck.
Celebrities are signed on as real estate ambassadors because they have earned international popularity. They are not only known within their bases but also outside. They are very popular and people could easily patronise their brands. So, that makes it easier for people in the diaspora to buy their land with confidence that they could not be defrauded.
Most real estate companies signed on a brand ambassador because of the popularity and fame it would bring to the company. And it’s believed that, once your brand is popular, you could achieve much within the sector where you operate. That’s why you see many of them who could not afford brand ambassadors going for endorsement. The endorsement is where a popular individual speaks on a brand and assuring people of its authenticity reliability and dependability.
One of the reasons for brand ambassadors is because real estate firms want to dominate the market, ahead of others.