Experts List Impediments To Estate Surveying Practice

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Experts in thebuilding industry have listed some factors bedeviling estate surveying and valuation profession in the country.

They include, poor remuneration, quackery, stringent legislation, lack of training and falling standards of valuation practice.

Speakers at a three day educations seminar organised by the African Reel Estate Society (AFRES), West Africa Group in Ogun State recently said this in the papers presented at the workshop.

Setting the ball rolling, the Dean School of Environmental Science, Convenient University, Ota, Professor Olajide Solanke stated that poor quality service, outdated scale of fees and unhealthy competitions are some  of the major challenges of the professionals in the industry.

Professor Solanke was of the view that poor quality service will incur the disrespect of the society on the professionals and also lead to non-payment of professional fees including threat on the continued existence of the profession.

According to him, the 1996 scale of fees for the professionals can in no way stand the test of the time due to frequent currency fluctuations and devaluation.

He stated that one of the greatest challenges of the building industry today is the need to revise the 1996 scale of fees stressing that in spite of the fact that Nigeria currency has experienced devaluations and fluctuation, the client do not want to pay the 1996 specified fees.

In the same vein, he attributed unhealthy competition among professionals in the sector despite clear specification of professional roles to lack of vision by the practioners.

He however, used the occasions to canvass for the regeneration and restoration of professional ethics as to enhance the practice of estate surveying noting that the future of the sectors is the future of the professionals.

Also presenting a paper entitled “Challenges Facing Surveying and Valuation  profession on the Global Setting,” Dr Olawande Oni of the Department of Estate Management, Convenant University observed that the challenges confronting valuation profession across the globe are interconnected.

He insists that competition for work, compliance with complex and  stringent standards of professionals practice within harsh environment, keeping abreast of the dynamic and changing environment of valuation practice, poor remuneration and coping with stringent legislation are some of the problems facing the practitioners all over the world.

On the negative impact of stringent legislation in the country, Dr Oni pointed out that such laws include the Land Use Charge Law 2001 in Lagos State and perceived threat from Economic and Financial Crimes Commission (EFCC) and money laundering Act.

He explained that the greatest challenge to the profession is the EFCC Act, Sections 17, 18 and 24 which put the onus on an estate surveyor to prove that he/she is not aware of concealment,  removal  of jurisdiction, transfer to nominees or otherwise retains the control of a proceed of a criminal conduct or illegal act on behalf of his principal.

It also provides that a person knowing that any property in whole or part directly or indirectly represents another person’s proceeds of a criminal conduct and uses that property or has possession of it, commits an  offence and is liable on conviction to imprisonment for a term not less than five years or fine equivalent to five times the value of the proceed of the criminal conduct.

Dr Oni noted that this implies that estate surveyors must be vigilant and investigate all instructions that they secure as illegal money being diverted into real estate investment.

On the training of practitioners he canvassed the replacement of the syllabi adopted by some of the institutions of high learning offering estate management with modern ones saying that they are outdated and quality of graduates is questionable.

To overcome the challenges, Dr Oni called for formation of partnership of medium and large estate surveying establishments to enjoy internal economic of scale, enforcement of valuation standard, and keeping abreast of modern trends in real estate.

 

Isaac Nwankwo