Meet girls who have taken up real estate by storm

Nili Dodhia (left) and Sansi Dietz, property consultants at Palm Golding Properties  (Photo: Wilberforce Okwiri)

Meeting Nili Dodhia and Sansi Thoiya Dietz for the first time, one would think the two are in the fashion industry given their grooming, elegance, charm you name it.

But make no such mistake. Charming and charismatic, the two are award-winning real estate consultants with Palm Golding Properties, the South Africa-based real estate company. They were honoured early this year for having the highest rentals among the company's agents in sub-Saharan Africa.

This is no small feat considering that the company with more than 300 branches and franchises around the globe has been on the local scene for less than three years.

Their two-and-a-half year working relationship is so close that friends and colleagues speak of them as the "ideal real estate couple".

"We hold no grudges. If I had a bad day, she will not feel offended. We forgive and forget easily since our personalities are very similar. It feels like we have known each other since childhood," says Dodhia, who took the lead during the interview.

Actually, the two met briefly for the first time in 2011 at a friend's wedding in Mombasa. They would meet later in November the same year during an interview by Palm Golding who were then scouting for individuals to spearhead their Nairobi operations.

"The company was just entering the local market and few knew about it. After a gruelling training session, the director picked both of us and told us to work together as partners," states Dietz.

"We were charged with the company's business deals in upmarket areas that include Runda, Gigiri, Muthaiga and Ridgeways."

Depending on size, properties in these neighbourhoods cost anything between Sh50 million and Sh200 million apiece.

When we visited the two at the company's Fortis Tower offices in Westlands, we realised just how personal friendship and business can be combined to produce the desired effects in a sector where keeping one's cards close to the chest is the unwritten rule.

Both had chosen different career paths during their school days, but unknown to them, their love for the real estate sector has seen them forge a special bond that is at the core of their runaway success.

For instance, Dodhia was born in Kenya but went on to study international relations and languages in England. She then did a degree course in law, practising briefly in the UK before coming back home in 2010.

"I did some conveyancing and intellectual property for a local firm. My future looked bright in the legal profession," says Dodhia.

But then, she saw something else. Nairobi, she says, had changed from the way it was since she left as an 18-year-old girl. "Buildings were coming up right, left and centre. Things were looking up for the real estate sector. I looked at the local papers and thought I should have a piece of the action. There were lots of briefcase agents and believe it or not, I decided to become one as well," she says.

Dietz, too, had a remarkable entry into real estate. After a two-year stint at Banda School on Magadi Road, Dietz left the country aged only eight for the UK and later the US for further studies.

She came back after the terrorist attacks on the World Trade Centre as "negative attitudes toward foreigners intensified", finishing her studies at the United States International University (USIU), Nairobi. She even tried her hands in journalism, working briefly for Reuters here in Kenya.

However, she gives credit to her parents who mentored her through the journey to the deep end of the local real estate sector. "My Kenyan mother is an architect while my German father is a developer," she states.

The dynamic duo is just getting the feel of the local market that they say is designed to test every fibre in their beings. Nothing excites them more than inking those multi-million shilling deals with the high and mighty in society. In fact, they are halfway to achieving their self-imposed target of Sh1 billion. "South African agents are doing Sh3 billion a year, so can we," asserts Dodhia.

The picture appears rosy, but all roses have thorns, too. There are times they are on the edge of their seats. If the billion doesn't come through, they will not stay down. To them, the worst that can happen has not happened yet.

"It is not as cosy as many imagine real estate sector to be. We get some and lose others. Shooting emails till late at night and the pressure from clients who wonder why their property is not selling. We get hit from all directions but have to support each other," says Dietz, mother to 16-month-old Alexander.

However, they are perturbed by the unpredictable nature of the Kenyan market that has seen unprecedented climb in recent years.

"How do you explain how a property that sold for Sh20 million two years ago is now worth double the amount?" asks Dodhia. "Well, your neighbour just sold off his property for such an amount and you kind of feel yours is worth twice that amount. These are market forces at play"

Comparing the Kenyan market with South Africa's, they say there is very little history of property in the local market whereas an online system in South Africa details the entire historical value of a property.

"Here, you hardly get to know who owned some property 20 years ago and how much it was sold for. In addition, properties in the local market take a lifetime to flip while down south, the average flip over period is seven years making a realistic price prediction," states Dodhia.

And then they have to deal with some secrecy in the local market. "A number of sellers in the high-end segment hardly advertise their property though they want the best price from them. They may feel advertising will announce to all the hefty asking price that may surprise even the previous owner who may now feel shortchanged," states Dodhia.

But then, what does it take for these two ladies to make it in the harsh environment that is Kenya's real estate sector?

"We deal in high-end properties where trust and confidentiality are key. We must be careful about what we say about people and their property. That is their life. People must know that we can be trusted. We must gain that trust from day one," says Dietz.

To this end, the two have learnt to cultivate a high level organisational skils, honing their negotiating skills to smell good deals from far off is not an option.

They also recognise they have personal lives too, lives that depend on them sealing that deal if only to pay their bills. Still, an attractive deal may come and fly away suddenly. Still, a good deal may go through but the period between the transaction and making the payment can be long.

Challenges may abound, but the two are not losing their drive any time soon. At least not when the market shows no signs of slowing down. They say that the wave of insecurity witnessed in some parts of the country has not affected the fundamentals in the sector.

"July and August are normally quiet months but not this year. The overall market has been quite robust. We have not witnessed the so-called relocations due to security concerns. In any case, Kenyans are here to stay. This is their home," says Dodhia.

Despite terming themselves as laid-back, Dodhia and Dietz do fancy adrenaline-gushing activities. From camping at local marathons, the two have done it all. Dodhia has scaled Mount Kenya and will be hiking Longonot in a week's time. Dietz would like to skydive but thoughts of what may befall her – and the baby – keep her away from the cliff.

Ever optimists, Dodhia and Dietz thrive on the premise that things get better with each passing day.