The Role of an Estate Surveyor and Valuer in an economy is a vital contribution to its development. In the case of Nigeria there are Estate Surveyors and Valuers who have made immerse impact towards the development of the Real Estate Industry but unfortunately they are not seen as influential figures in most countries of the world because Estate Surveyors and Valuers in Nigeria are perceived to lack adequate knowledge and expertise to practice the profession. Those who have travelled abroad to further their studies can testify to this fact.
It is unfortunate this is the case but what are Estate Surveyor and Valuers in Nigeria doing in order to redeem their image. Though most of those who travel abroad to further their studies and attend international conferences make us proud by representing the profession and country, even beyond expectations, but it has proven not to be enough if the Institution claims to be World Recognized.
There are many methods and innovations to be learnt from foreign practice of the profession in areas of Feasibility & Viability Studies, Project Management, Facility Management, Brokerage/Consultancy Services as well as the core practice Valuation amongst others. It has been perceived by foreign professionals that Estate Surveyor and Valuers in Nigeria are not researching enough, developing adequate data/analysis and using more innovative methods in the practice.
A study on the use of Contemporary Models on Valuation Practice in Nigeria was conducted in 2007 by Mustapha Oyewole Bello and Victoria Amietsenwu Bello of the Estate Management Department, Federal University of Technology, Akure, Nigeria.
This study, using hypothesis testing concerning proportion in a Bernoulli experiment, reveals that majority of the Nigerian practitioners are not aware of, do not understand, and had not been using any of the contemporary methods. The study recommends that adequate attention should be focused on resolving the myriads of institutional and economic problems inhibiting the evolution of adequate property market infrastructure and valuation practice by the Nigerian Institution Of Estate Surveyors And Valuers; and Estate Surveyors And Valuers Registration Board Of Nigeria.
Despite this study was conducted over 6years ago, the hypothesis is still evident in the Real Estate Practice in Nigeria. Notwithstanding, the Institution has produced prominent Estate Surveyors and Valuers practicing in different parts of world and has taken great measures towards improving the Real Estate practice which would result in the overall development of the Real Estate Industry in Nigeria.
A few noticeable Nigerian Chartered Estate Surveyors and Valuers, amongst others, who are working tirelessly on the progress of the Real Estate Profession as well as flawing the belief regarding the inadequacy of the expertise of Nigerian Real Estate Practitioners are:
Mr Akin Olawore, the Principal Partner of Akin Olawore & Co., is a professional and highly Skilled Development Consultant and Project Manager. He has vast experience in estate management having worked and served in different capacities of his career. He has earned several qualifications which further lend credence to his proficiency in this profession. He has also served as past Treasurer, Nigerian-Britain Association; Chairman, Research & Development and Project Management Faculty both of NIESV; Representative of NIESV and Director, International Valuation Standards Committee; etc.. Presently, he is actively involved in the training and retraining of students and practitioners alike, respectively, under the Continuing Professional Development programme of the Nigerian Institution of Estate Surveyors and Valuers.
Mr Edward Okpa, who went to the United States in August, 1985 after having worked as an Estate Surveyor and Valuer in Nigeria. He was employed by DRESCO in 1986, and was subsequently employed by FSLIC in October 1988. Mr Edward is presently the Principal and Owner of Integrated Valuation. He has appraisal experience in the United States and overseas and, due to his overseas experience, Mr Edward performs international assignments as well as attends and speaks at International conferences.