TYSONS LIMITED

Our Realtor Spotlight this month is on Tysons Limited. The eighty four (84) years old company is a pioneer and a leading Real estate Consultancy Company in East Africa founded in 1923 and specializing in offering professional property services in land, buildings, plant and machinery, fitting and office equipment. It is incorporated in Kenya under the companies Act, with the headquarters in Nairobi and branches in Mombasa and Nyeri.  The firm has been offering professional property services for the last eighty-four years to clients in Kenya, Uganda, Tanzania, Ethiopia, Seychelles and as far as Gambia in West Africa.

In a chat with Mr. Isaac Mira (pictured), a Marketing Manager at Tysons Limited, we sought to find out what has kept this very successful Real estate Consultancy Company at it for such a long time.

Tell us briefly about your agency.

Tysons ltd is a pioneer and leading Real estate Consultancy Company established in 1923. It is incorporated in Kenya under the companies Act, with the headquarters in Nairobi and branches in Mombasa and Nyeri. 

When was your company started?

Tysons Limited has been a player in the Real Estate Sector in Kenya and the East African Region since 1923 when it was founded by Mr. George A Tyson.

Give us an overview of the type of properties that your firm has in its portfolio.

Our firm offers residential properties for sales and letting, and commercial properties sales and letting.You have offices in Nairobi, Mombasa, Nyeri and Meru.

Do you intend to establish your business in other towns in Kenya?  

Other than Kenya, the firm has been offering professional property services for the last eighty-four years to clients in Uganda, Tanzania, Ethiopia, Seychelles and as far as Gambia in West Africa. We intend to grow with the Real Estate Industry in East Africa and the rest of Africa.

What is your company’s vision? Where do you see yourself in the near future?

Our Vision is to be a leader in the provision of Real Estate and Asset Valuation Solutions.

Our Mission: We are committed to providing professional, dependable and customer focused Real Estate and Asset Valuation solutions.

Our Strategy: Our aim is to build long-term partnerships with our clients through provision of quality services which not only meet but exceed customer expectations.

Our Values (i) Integrity (ii) Trustworthiness (iii)  Reliability (iv)  Respect for all.

In the near future we see ourselves being a market leader in offering all real estate Solutions.

How do you advertise?

Through Internet, newspapers, property magazines and one page presentations which are posted at major shopping malls.

How effective has online advertising been? What role do you see the Internet playing in the coming days in real estate business in Kenya?

It is one of the major marketing tools that have proved to work especially to clients abroad. It’s just a matter of clients having trust and faith in a company, with return in effective service delivery. We see clients transacting through internet without necessary being around physically.

What is your most memorable real estate transaction?

A client in U.S.A, made full payment for a house without physically inspecting it.

Give us your assessment of the property market in Kenya. Is there a property boom?

In recent years we have seen property boom, which is quiet overwhelming. This has also been influenced greatly with competitive mortgage rates from various Banks.

I am a Kenyan looking for a good property to buy. Give me one recommendation from your properties listed on property.co.ke and why it’s a good buy.

First, this will depend if you’re looking to buy for investment or home. For investment we’ll recommend properties in up market areas such as Westlands, Lavington, Kilimani. An example is AP254-TS in Westlands. Reason it’s strategically placed near social amenities. This is one of places that are sought after especially by expatriates.

Just quickly highlight some of the challenges that your company faces. What challenges particularly do small and medium sized real estate agencies face when competing with big names in the industry?

Emerging of Quack companies that offer the same service as us but at very low rates. These force us to cut on fees, which in return affects our revenue.

What impact has the reduced mortgage rates being offered by banks and mortgage companies played in increasing market activity?

We see many Kenyan’s yearning to be there own landlords. Unlike in the pasted where this service only applied well with upper class people only. We are seeing more people buying houses without hesitant compared to the past.

What is the direction that you expect the real estate market in Kenya to take in the short term?

We expect the market to stay at the top as it is now. 

What is your advice on real estate as an investment option for Kenyans, as opposed say, to playing the stock market?

Investing in property has a number of benefits, one it’s a form of long term investment, with appreciation of its value one is guaranteed on good returns for investment. One can secure loan with ease by attaching his/her property.

How do I get started on real estate investing?

Have a set budget, study what the market has to offer, one should also stipulate areas of interest and possibly look to buy in a place with ease to access social amenities such as schools hospitals.

Should I buy or rent?

Buying is the best options. Eventually you’ll end up owning the property no matter how long it takes to repay.

Which particular locations/ areas would you recommend as especially lucrative for an investor right now?

Lavington, Kilimani, Westlands

Why?

So many people are keen with these estates because of good security, accessibility to social amenities and work place.

Buy – vs – Build? Which do you recommend?

Buy - It saves one from the hustle of dealing with contractors and the need for supervision of ground activities from time to time.

I’m a middle class home-buyer with a budget in the region of Kshs. 3 million. Is there anything out there for me?

Yes they are. In the recent past, we have seen emergency of affordable houses in the outskirts of Nairobi, and apartments in middle class areas which have easy access to the CBD.

I am a home – owner who wants to sell my house myself without going through and agent. How advisable is this?

The process will take longer than what one would think… this is unlike using agents who have ready clients.

What is the most important thing for a property owner when choosing an estate agent to sell or manage their property on their behalf?

Reputation of a firm (this can be through referral or past experience with the firm), in terms of efficiency in service delivery and high level of professionalism.

As a buyer, what is the one most important thing that I should be concerned with when deciding on which house to buy?

One of the most important considerations is the Quality and Workmanship that has been put into the finished of the house.

There have been questions raised about the level of professionalism in the industry and the involvement of some quacks. Especially from the Kenyan community abroad who are at a loss on who to trust for their real estate dealings? What’s your take on this?

One should be very careful with which companies they are dealing with and possibly use local contact person to foresee the transactions.

The shortage of housing in Kenya is an ongoing topic. What is the solution in your opinion and what are the respective roles for the Private Sector and the Government in this?

The government has a big responsibility to the common wananchi of reducing stamp duty and reduction of taxes on import for raw material. In return, prices for houses will be lower than it is now this will also encourage more people to venture into building business. 

What is the way forward for the real estate industry in Kenya?

We expect the market to continue growing so that we cab housing shortage. These will also enable us to stay in business.

In one sentence, why should I go with TYSONS LIMITED?

We are your link to all Property / Real Estate Solutions.

End of interview excerpt 

To view properties listed by Tysons Limited, click here

For a Firm Profile on Tysons Limited or to contact them, click here