Challenges Facing Sustainable Real Estate Marketing and Practice in Emerging Economy: Case Study of Nigeria
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Canadian Center of Science and Education
Abstract
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The challenges facing estate surveying and valuation practice across the world are enormous, and the future of
the profession is being questioned, especially in Nigeria. There are pressures for practitioners to secure
instructions and at same time meet increasingly complex and stringent standards of professional practice. This
study provides a perspective of issues confronting the profession across the globe relying on a review of
literature, while data on the Nigerian situation were obtained through the primary source. Three thousand Estate
Surveyors and Valuers across the country were surveyed using the internet-based SurveyMonkey software. The
analysis indicated that “topping up”, “gazumping”, “gazundering”, low level of salaries and misdemeanors by
the ever-increasing number of charlatans are major challenges facing the profession. In addition, majority of
practitioners confessed to involvement in mounting of multiple signboards, collection of double fees, and
soliciting for jobs with financial inducements. It was therefore recommended that prosecution of erring members,
encouragement of non-professionals to attend formal training, and establishment of a college for such training,
enforcement of professional standards, and adoption of proactive stance on laws that are inimical to sustainable
real estate practice to ensure an enduring professional practice.
Keywords
HD Industries. Land use. Labor, TA Engineering (General). Civil engineering (General), TH Building construction