Surveyors set to regulate estate agency practicesde

Dr. Bolarinde Patunola – Ajayi, NIESV President
Dr. Bolarinde Patunola – Ajayi, NIESV President

Dr. Bolarinde Patunola – Ajayi, NIESV President

The Nigerian Institution of Estate Surveyors and Valuers (NIESV) has reiterated its commitment to begin the regulation of the agency aspect of the profession through its pet project- Association of Estate Agents in Nigeria (AEAN), in conjunction with the government. This is geared towards eliminating quacks from the profession.

NIESV president, Dr. Bolarinde Patunola – Ajayi said that the estate agency has been an all-comers’ affair over the years, and the move has become necessary as the incursion of other professionals, such as lawyers and accountants is creating negative perception about genuine estate agency professionals.

Patunola revealed that such persons will, under the coming programme, be liable to arrest and prosecution by the state if they fail to comply. “The incursion of many professionals and individuals into our Institution is giving the profession of estate agency “a bad name”. Estate agency is an important service, and should be practiced with full adherence to the code of conduct. We have commenced the programme to control estate agency in Nigeria with the establishment of Association of Estate Agents and collaboration with Lagos State Government on the commencement. At the end of the day, Estate agency will become regulated and give room for practitioners in the new Association to receive the training and start to practice,” he said.

Patunola also called on his colleagues to begin to strategise and establish mega practice firms through partnerships, as there is currently a threat of invasion of the practice terrain in the country by established foreign real estate companies. “We cannot hide from the fact that old foreign firms of real estate are flocking into Nigeria from abroad. We must initiate action that will ensure their compliance with the Nigerian laws, and protect our practice from their illegalities,” he said.

He noted that estate surveying and valuation is a profession in the with a mandate to examine, measure, plan, market, supervise and coordinate the operation and use of land and its appurtenances on behalf of the owners, with a view to ensuring the optimum beneficial decision to the individual or organization who have vested interest in the landed property. He therefore urged the NIESV members to always ensure strict adherence to the ethics of the profession. “Good image is very essential in professional ratings of any profession. The perception of the public and clients about our services is one of the strong yardsticks to determine the level of their patronage. Professional negligence is a breach of the duty of care between the professionals and their clients. Our advocacy to members on professionalism will be intensive to ensure that we maintain the enviable standard required by the users of our services,” he said.

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