Head of Advantage Banking of Ecobank Ghana, Winston Wobil has advised prospective homeowners not to go beyond their means when it comes to choosing realtors and agents.

According to him, "If you’re buying or building, it doesn’t have to be the very big names. Yes, the big names are doing wonderful. If you can afford it, good. You don’t need to kill yourself to afford those ones."

Mr. Wobil said this on Joy FM’s Super Morning Show, Thursday. Ahead of the second mini-clinic of the JoyNews- Ecobank Habitat Fair slated for September 18 and 19 at the West Hills Mall, discussion on the show centred on whether prospective homeowners should buy or build it.

He noted that although there are real estate agents which have earned that high reputable status, the lesser known realtors can equally do the same quality of job at less cost.

"One thing that we also need to get very clear. For instance, when we are talking about buying, it doesn’t necessarily have to be that high-earned gated community. When we are talking about real estate developers, it doesn’t have to be the big name."

Educating fervent listeners on the mortgage processes at Ecobank Ghana, Mr Wobil said there are some background checks the bank does before issuing a mortgage to individuals.

"If someone were to come to us for a mortgage to purchase a house, we’d look at the developer. Is he licensed? Is he certified to do what he says he’s doing."

He added that the bank has independent persons who value the intrinsic value of properties and give Ecobank relevant feedback.

"We find out about the property to see whether the property is properly titled. We do all the checks before we even begin to finance the developer," Mr Wobil explained.