MyAgent launches in Nigeria to build trust in real estate transactions

Nigerian prop-tech startup MyAgent has launched, aiming to build trust and a transaction layer for African real estate, beginning with Nigeria's rental market.

Founded by Samuel Afolabi earlier this year, MyAgent connects renters directly with verified landlords, reducing reliance on agents and making the rental process faster, more transparent, and less expensive.

"Our long-term vision is to become the default infrastructure for property transactions, covering rentals first, then land, sales, short-lets, and eventually the data layer for the market," Afolabi stated.

Most real estate platforms in Nigeria focus on listings, but the core issues are trust and supply. Afolabi noted that while renters seek better access, acquiring and verifying landlords is the more challenging side of the marketplace.

MyAgent competes with traditional agents, listing platforms, and rental marketplaces but believes its focus on landlord acquisition, verification, and trust will be key. The company, currently founder-funded, generates revenue through a 20 percent commission on successful rental transactions and is seeking further funding for growth.