Realizing the enormous challenges which estate surveying and valuation profession is facing, the practitioners say there must be, among other things, a vibrant mortgage system, partnerships among firms, and adoption of property technology (proptech) for growth to happen in the profession.
The land economy professionals who gathered in Lagos at a symposium to mark the 50th Anniversary of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Lagos State Branch, also canvassed a strong political will from government to come up with policies that will make housing cheaper and more accessible.
“We are calling on the government to establish and maintain a vibrant mortgage system in the economy as funding remains the biggest challenge of people desiring decent homes and seeking services of real estate surveyors and valuers,”Joe Idudu, the 8th chairman of the branch said.
Idudu, who represented Adetola Shote, the chairman of the day’s event, spoke with nostalgia on the early days of the profession and its golden era when, according to him, there were construction activities everywhere and jobs were everywhere for the profession and its professionals.
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“We now seek to return to the golden era but we have not been able to do so, because of politicians who have not given us a dependable mortgage system. Many people cannot buy housing because they have no means,” he lamented.
But Babajide Sanwo-Olu, the Lagos State governor, had a charge for the real estate professionals. He told them to uphold and sustain the highest standards in their professional practice.
The governor noted that the theme of the symposium, ‘We Build Cities: NIESV Lagos and Real Estate; 1970-2020’ aligned with his administration’s T.H.E.M.E.S agenda, adding that as an umbrella association in the real estate industry, NIESV’s impact was significant to the housing subsector.
Represented at the event by Akeem Amodu, SSA to the Governor on Housing, Sanwo-Olu pointed out that the real estate subsector was noted more for its highest professional standard in Nigeria.
He therefore urged the institution to continue its stride towards making meaningful contribution to national development in area of real estate in Nigeria, adding that the state looked forward to a new era where quackery and other professional misconducts were put in check.
“A greater Lagos of our dream is one in which development is orderly and all stakeholders are committed to holding due process as stated by the law,” the governor said, hoping to see a better synergy with the institution.
Emmanuel Wike, the institution’s national president, highlighted the need for professionals to defend the profession, explaining that the best way to do that was for them to build core competencies against onslaught of quacks and other professions attempting to hijack the jobs of estate surveyors.
“The role of estate surveyor and valuers as the driver of the national economy cannot be over emphasised. As a professional body, we are not relenting in our efforts to align with the best global practices in the practice of our profession in Nigeria. We embrace this option for the singular reason of being more impactful to our communities and the nation,” Wike who was represented at the event by First Vice President, Johnbull Ameyeavbo, said
Adedotun Bamigbola, Branch Chairman, was futuristic in his submissions, He noted that the challenges facing the real estate valuation profession in the next 50 years bothered on maintaining international ethical standards, research, proptech and infractions in the real estate sector in various areas of practice.
“These underscore the need for estate surveyors and valuers, particularly those practicing in Lagos State, to take charge and elvolve to make the necessary professional impact on the state and the society at large through value addition. We need to build on our rich history and the legacy of our past leaders to confront the challenges of the future,” he charged.
