With a rapidly growing real estate sector, Kenya has attracted a large pool of real estate professionals who not only provide much-needed expertise, but are also ready to take advantage of emerging real estate investment opportunities in the country.

Developing a sustainable and profitable real estate market in Kenya depends on having real estate professionals who adhere to the professional code of ethics, are academically and professionally qualified, and adhere to Kenyan laws on property-related issues from the beginning. property and purchase until property development.

Who make up the real estate directory?

Real estate agent

Simply referred to as an agent or broker, a real estate agent acts not only as the intermediary between property buyers and sellers, but also with landlords and tenants. Its functions include:

• Buying properties for sale and organizing / conducting visits
• Administrative property
• Property valuation
• Provide information on property improvements, such as renovations.

To register as a real estate agent in Kenya:

• Must be a full member of the Institution of Surveyors of Kenya or a corporate member of the Royal Institution of Chartered Surveyors
• Holder of a degree or diploma from a learning institution recognized by the Real Estate Agents Registration Board
• Must have more than six months of practical post-qualification experience obtained in Kenya that satisfies the board
• It must be of good character and the Board must be satisfied that one has never been convicted of fraud or dishonesty.

Lawyer

Popularly known as ‘Wakili’, they are in charge of the legal aspect of property matters.

• Accompany property buyers and sellers during negotiations and signing of transaction agreements.
• Provide legal guidance to avoid legal pitfalls, explain legal jargon, and read the fine print on all related documents.
• Crucial for necessary searches, property transfer preparation, and closing account statements
• Attorneys serve the best interest of the party they represent.

To practice in Kenya, property attorneys must:

• Be a member of the Law Society of Kenya – Bar Association
• Degree in Law
• Successful Candidates from Kenya Law School

Mortgage broker

A relatively new role in the Kenyan real estate industry, mortgage brokers match mortgage borrowers with top mortgage lenders.

• Look for various mortgage rates from different lenders
• Help borrowers access cheaper mortgage rates than those available through a bank directly

In Kenya, mortgage borrowers prefer corporate borrowers and their rates are 1% of the value of the mortgage.

Banking / financial advisor

A banker is also consulted as a financial advisor:

• Offer full or partial financing for real estate investments
• Provide financial advice related to the real estate market.
• Help clients develop feasible financial and real estate investment plans and goals.
• Establish loan / mortgage qualification requirements

In Kenya, bankers come from various local and international banks, building societies, credit unions (Saccos), etc.

Surveyor

A surveyor is qualified to establish property boundaries and beacons and then to check the status of properties in the Inspection Department.

To qualify as a surveyor one must be:

• Holder of a bachelor’s degree in surveying and photogrammetry from a reputed university
• Or have a diploma certificate from the Kenya Institute of Surveying and Cartography

Surveyor evaluation

Known as wealth management and valuation inspectors in Kenya, they prepare and report asset valuations, as well as manage those assets.

To qualify one must have:

• Bachelor of Land Economics
• Postgraduate Diploma from the Wealth Management Appraisers and Surveyors Section of the Kenya Institution
• Integrity and high ethical and professional conduct.

Contractor

Contractors are the most widely used professionals in Kenya. They often multitask as project managers and are in charge of:

• Building Property Plans
• Implement the project based on the scope of the project
• Cooperate with architects and property development engineers to develop a property that meets clients’ needs and expectations and complies with established development regulations.
• Meet project milestones within budget and within established deadlines

Developer

For profit, developers:

• Search for possible investment properties
• Funding source
• Search planning authorizations
• Build in raw property
• Repair and maintain properties
• Property leasing

Architect

In Kenya, an architect advises clients on standard procurement procedures and:

• Contractor sources
• Develop ownership plans
• Building Designs
• Oversee property builds

Property manager

Property managers deal with real estate investments on behalf of the owners. Although there are property management companies in Kenya, they are rare and real estate agents often perform the following functions:

• Search and screen tenants for rental properties
• Negotiate lease or lease agreements
• Collect the rent
• Organize property maintenance, from cleaners to electricians to plumbers.
• Advise on insurance and legal matters related to property and investment.