The Siege on Estate Surveying and Valuation Profession in the Global Setting: A Review of Nigeria Experience

Abstract

Investment in real estate has come of age and assumed a pride of place in the globalized world. The practice of investment in real estate that often result in having edge against inflation or inflation proof through investing in residential, commercial, industrial, institutional and agricultural land uses has inevitably made that aspect of socio-economic sphere caught the attention of every individuals as well as nations of the world. The need to have professionals to manage, improve and sustain such investment or development is imperative. The paper examines and chronicles the incursion into the Estate Surveying and Valuation practice by people not so trained in the field at both national and global levels. Also, the various bodies in Europe, America, New Zealand and Australia acknowledged competitions from other allied professionals. The paper advocated the need for adherence to professional ethics and code of conduct by professional Estate Surveyors and Valuers with view to differentiating their performance from those of non-members who are not trained in the art and science of the estate surveying and valuation profession. In addition, the paper conceptualized and recommended some strategies to be adopted by NIESV, ESVARBON, institutions offering Estate Management in Nigeria and the practicing firms in the country for the purpose of attaining global relevance, standardization and meeting quality expected of professionals.