Mimiko Wants Only Professionals In Property Valuation

Olusegun Mimiko of
Ondo State has urged the Nigerian Institution of Estate Surveyors and Valuers (NIESV) to ensure that only professionals were involved in valuation of property.
He gave the advice at the 20th John Wood Ekpenyong’s Memorial Lecture and the 2014 Fellows Induction ceremony in Lagos, recently.
Mimiko, who was represented by his Senior Special Assistant on Land Matters, Mr Wale Adeleke, said this would help the institution weed out quacks in the system.
According to him, there is need for NIESV to train and retrain its members so that the state would rely more on them for valuation.
“Estate surveyors and valuers play a key role in increasing the Internally Generated Revenue
“However, we have seen occasions where valuations do not reflect what the market value of the property should be.
“We hope to see changes and that NIESV should champion this,” he said.
Mimiko said that as housing measured the position of a nation and had ripple effects on the economy, the state would rely on the Land Use Act to increase its IGR.
A former NIESV President, Mr Joe Idudu, said that the law establishing Estate Surveyors and Valuers Registration Board of Nigeria (ESV ARBON), empowered it to determine who estate surveyors and valuers should be.
He said that in spite of this law, the board and the institution had not been able to exclude non estate surveyors and valuers from practice.
Idudu, who spoke on “Estate Agency: Have we lost it?” said that NIESV now had the Association of Estate Agents in Nigeria to help regulate and control the practice of estate agency.
The Chairman of the occasion, Mr Ayodele Sangosanya, said that the lecture provided opportunity for stock taking as well as discuss the way forward.
He said that the topic was to ginger professionals to work harder to get rid of charlatans who had invaded the estate agency.
Sangosanya said that the estate surveyors and valuers would continue to fight to bring sanity to estate agency.
The NIESV President, Mr Emeka Eleh, said that the lecture was instituted to honour the founding father of the institution and what he stood for.
He said that the various topics of the lecture, over the years, had revolved around corporate governance and ethics Eleh said that the 2014 topic was apt as estate agency was one of the things the NIESV members were doing.
He said that the institution was recognising its importance as well as the negative impact it had on the profession of Estate Surveyors and Valuers.
According to him, the institution’s desire is for a regulated and standardised agency so that
the public and their clients can have trust in what they are doing.