Nigerian Institution of Estate Surveyors and Valuers (NIESV) together with the Association of Estate Agents in conjunction with the government has introduced a regulation that will govern the agency aspect of the profession through its pet project in Nigeria.
The regulations are targeting the infiltration of estate agency practiced by quacks. According to Dr. Bolarinde Patunola, NIESV President, the estate agency has been an all-come affair over the years, and the regulations have become necessary as the incursion of other professionals, such as lawyers and accountants including other persons who are not necessarily trained to practice estate agency is creating negative perception about genuine professionals.
Quacks practitioners will be liable to arrest and prosecution by the state if they fail to comply with the regulations. “Estate agency is an important service, and should be practiced with full adherence to the code of conduct,” said Patunola. We have commenced the programme to control the estate agency in Nigeria with the establishment of Association of Estate Agents in collaboration with Lagos State Government,” he added.
The new programme will regulate estate agency and give room for practitioners in the new Association to acquire the training skills that will enable them to put them to practice.
Estate surveying and valuation is a profession in a mandate to plan, measure, examine, supervise, market 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.
The NIESV members are urged to always ensure strict adherence to the ethics of the profession as good reputation is very essential in professional ratings of any profession. Therefore, members are urged to undergo frequent training in line with the Estate Surveyors and Valuers, Registration Board of Nigeria mandate.
NIESV administration has assured to focus on training and retraining its members through professional development programmes locally and internationally such as workshops, seminars, training on internal standards and new real estate business procedures.
Additionally, members are expected to comply with the code of conduct, and become a reference point all over the world. The association is as well looking forward to work with the government to render professional services in the areas of housing policy formulation, execution and management; Infrastructure concession and management including ports, roads, parks, tourist centers, land acquisition, compensation and administration among others.
Each practitioner has an obligation to purchase the laws and go through them and understand wherever they need to meet their requirements.
