Nigerian prop-tech startup MyAgent has unveiled a new digital platform aimed at addressing one of the country’s most persistent real estate challenges, trust.
The startup says it is building what it describes as the “trust and transaction layer” for Africa’s property market, beginning with Nigeria’s rental sector.
Founded earlier this year by Samuel Afolabi, MyAgent seeks to simplify the rental experience by connecting prospective tenants directly with verified landlords, reducing dependence on traditional agents while making property transactions faster, more transparent, and more affordable.
Beyond rentals, the company has ambitious plans to evolve into a comprehensive infrastructure for real estate transactions across the continent, covering land purchases, property sales, short-term rentals, and eventually becoming a valuable source of market data.
“The long-term vision is to become the default infrastructure for property transactions, covering rentals first, then land, sales, shortlets, and eventually the data layer for the market,” Afolabi disclosed.
Building Trust Where Property Listings Alone Have Fallen Short
While Nigeria has witnessed the emergence of numerous online property listing platforms in recent years, MyAgent argues that the industry’s biggest challenge extends far beyond simply displaying available homes.
According to the company, the real obstacles preventing smoother transactions are the lack of trust between landlords and tenants and the limited availability of verified properties.
Unlike conventional platforms that primarily aggregate listings, MyAgent places significant emphasis on identifying, onboarding, and verifying landlords before making their properties available to prospective renters.
This verification process is intended to reduce fraudulent listings, improve transparency, and give renters greater confidence when searching for accommodation.
Afolabi believes many companies have focused their efforts on attracting renters while overlooking the more difficult task of building a reliable supply of legitimate properties.
“Most real estate platforms in Nigeria focus on listings, but the real problem is trust and supply,” he said.
He further explained that, “Renters want better access, but landlords are the hard side of the marketplace to win. Most platforms underestimate how important it is to actively acquire and verify supply, not just attract demand.”
Reducing Dependence on Agents While Simplifying the Rental Journey
A central feature of MyAgent’s business model is its effort to minimise unnecessary reliance on traditional property agents, who often increase rental costs through multiple agency fees and commissions.
By allowing renters to interact directly with verified landlords, the platform aims to streamline the entire rental process, making it quicker, less expensive, and significantly more transparent for all parties involved.
Although traditional estate agents, listing websites, and rental marketplaces remain competitors, MyAgent believes the long-term winner in the sector will be the company capable of establishing credibility through trusted property verification.
According to Afolabi, solving landlord acquisition, verification, and trust represents a stronger competitive advantage than simply increasing the number of property listings on a platform.
Early Market Traction as Startup Prepares for Fundraising
Despite being a relatively young company, MyAgent says it has already moved beyond the development stage into active commercial operations.
The founder disclosed that the startup has been entirely founder-funded since inception. Nevertheless, it has successfully launched its product, onboarded both landlords and renters, facilitated completed rental transactions, and begun generating its first revenues.
With early validation now in place, the company is seeking external investment to accelerate its next phase of growth.
“We are now fundraising to accelerate growth, especially on the supply side,” Afolabi said.
The funding will primarily support the acquisition and verification of more landlords and properties, strengthening the platform’s inventory while improving the overall user experience.
Ambitious Roadmap Beyond Rentals, Beyond Nigeria
Although rentals remain the company’s immediate focus, MyAgent views this as only the starting point of a much broader strategy.
In the short term, the startup intends to deepen its presence within Nigeria by building greater market density and strengthening trust among landlords and tenants before pursuing geographical expansion.
Looking further ahead, the company plans to diversify into additional segments of the property market, including land transactions, property sales, and short-term accommodation, while eventually expanding into other African countries facing similar challenges.
“Long-term, we plan to grow into property sales, land, and shortlets, and eventually expand into other African markets where the same problem exists,” Afolabi said.
To sustain its operations, MyAgent currently earns revenue by charging a 20 per cent commission on every successful rental transaction completed through its platform.
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