Challenges facing property surveying essay
The problems facing Real estate Surveying and Valuation specialist practice in Nigeria Professionals in the building industry possess listed a few factors bedeviling Estate Surveying and Valuation Profession in the country. They consist of;  poor remuneration,  quackery,  stringent guidelines,  lack of training and  falling standards of valuation practice.
According to Solanke (2010), stated that poor quality support, outdated size of service fees and harmful competitions are a couple of the major problems of the experts in the industry. Mentor Solanke was of the view that low quality service can incur the disrespect of the society on the professionals and in addition lead to nonpayment of professional fees which include threat around the continued presence of the career.
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Inside the same vein, he linked unhealthy competition among pros in the sector despite crystal clear specification of professional tasks to insufficient vision by practioners. This individual however , used the aides to canvas for the regeneration and restoration of professional integrity as to enhance the practice of estate surveying noting the future of the sectors is a future of the pros.
Ojo (2004) observed that Nigerian Property Surveyors and Valuers have been completely rather slower and lukewarm in their frame of mind and method to the required precision changes in valuation practice thereby resulting in complaints from clients about valuation estimates. According to Dr . Olawande Oni within a paper titled “Challenges Facing Surveying and Valuation Career on the Global Setting- this individual observed the fact that challenges facing valuation career across the globe will be interconnected. He insists that competition to get work, compliance with complicated and exacting standards of professionals practice within just harsh environment, keeping abreast of the powerful and changing environment of valuation practice, poor remuneration and coping with stringent legal guidelines are some of the issues facing the practitioners across the world.
Some of the regulations include the Land Use Demand Law 2001 in Lagos State and perceived danger from Financial and Monetary Crimes Percentage (EFCC) and money washing Act. The very best challenge to the profession is definitely the EFCC Work, Sections 18, 18 and 24 which put the onus on an House Surveyor to prove that he is unaware of concealment, removal of legal system, transfer to nominees or else retains the control of a proceed of the criminal carry out or illegal act on part of his principal.
Additionally, it provides a person understanding that any real estate in whole or perhaps part directly or indirectly represents another person’s proceeds of the criminal carry out and uses that house or provides possession of that, commits a great offence and is also liable on conviction to imprisonment for a term not less than five years or good equivalent to 5 fold the value of the proceed from the criminal carry out. This implies that Estate Surveyors must be cautious and check out all recommendations that they safeguarded as illegitimate money being diverted in to real estate investment.
For the training of practitioners, the replacement of the syllabi adopted by a number of the institutions of high learning giving estate management with modern ones saying that they are out-of-date and quality of graduates is sketchy.
The Way Forward for the Estate Surveying and Value Profession in Nigeria There is the need to ensure the training of even more Estate Surveyors so that there can be enough professionals for sufficient coverage in the country. It can be by therefore doing which the “quacks could be flushed out of business. A situation in which estate surveying and valuation firms shy away from the rural parts of the country, where greater members of the contemporary society resides with the greater property mass can be not suitable. Nigerian Establishment of Estate Surveyors and Valuers (NIESV) and Estate Surveyors and Valuers Enrollment Board of Nigeria (ESVARBON) need to educate members and encourage Institutions offering house management programs to harp on the potentials in rural estate company.
Secondly, the Nigerian Institution of Property Surveyors and Valuers (NIESV) and House Surveyors and Valuers Enrollment Board of Nigeria (ESVARBON) in partnership with Educational institutions offering property management programs in Nigeria, need to ensure the running of designated expert courses inside the valuation of specialized properties, plant and machinery value as well as the use of ICT in real estate activities. Experts pertaining to particular areas within the occupation should be all those whose skills and encounter stand all of them out.
Third, the career cannot carry on and allow the majority of firms to perform on sole proprietorship. Categories of existing organizations should be motivated to blend and contact form partnerships when it comes to exploiting the expansion opportunities inside the real estate business. By therefore doing, this sort of groups might have the capacity to penetrate the market effectively as per their collective knowledge, skill, experience and social leanings thereby checkmating the intrusion of the industry by quacks.
Isaac, N. (2010, 08 07). The Wave. Retrieved 01 27, 2013, from thetidenewsonline. com: http://www.thetidenewsonline.com/2010/08/07/experts-list-impediments-to-estate-surveying-practice/ Okwy, My spouse and i. C. (2012, 10 2). Estate Surveyors identify limitations to practice. Recovered 01 twenty seven, 2013, through the Nation: http://thenationonlineng.net/new/business/building-properties/estate-surveyors-identify-barriers-to-practice/ Oloyede, S i9000. (2011). Issues facing the Estate Surveying and Valuation Profession in Nigeria. Organization Management Characteristics, 54-60.