Professionalism in the Real Estate Sector Should be Encouraged.

In this short story, ESV Emmanuel Chinedu Ezeama, a Registered Estate Surveyor and Valuer, lends his voice on why professionalism should be encouraged in the Nigerian real estate industry.

All over the World, the role of professionals in any sector of the economy cannot be overemphasized, professionals play pivotal roles in shaping and advancing the cause of the industry they belong to. In most industries, so many professionals are brought together in the delivery of projects, and the real estate sector is one of such sectors with a unique characteristic of assembling so many professionals together. The coming together of these allied professionals has given rooms for quack to massively make their ways into the real estate industry.  The lucrative nature of the industry is one of the major reasons why non-professionals in the entire value chain of the industry are thriving, and causing havoc to the detriment of professionals in the industry.

By all measures, professionalism in the real estate space should be encouraged by all stakeholders. The government at all levels should take the lead in this regard by awarding contracts and jobs to only deserving professionals. This will not only bring efficiency but will also encourage professionalism and quality delivery of projects in the entire value chain of the real estate space.

In advanced economies of the World, the real estate space is better organized because of the effective regulation of the sector by the relevant government authorities. The patronage of quacks by the public and private sectors in Nigeria has encouraged quackery in the industry contrary to what is obtainable in other climes. In advanced economies like Canada, United State of America, and the United Kingdom, it is very difficult for quacks to practice in the real estate space because of the regulations that exist in those climes. In Texas for instance, the practice of real estate is heavily protected by the government and its regulatory agencies. The real estate practice in Texas is a huge source of revenue for the government and as such is protected and well regulated by the government.

In the case of the Nigerian market space, where professionals in the industry need to be encouraged, the Association of Professional Bodies of Nigeria (APBN), the umbrella body that oversees the affairs of all professional bodies in Nigeria has a pivotal role to play. There is every need for the ABPN to front for its members in all the available contracts in government at all levels, channeling the appropriate jobs to the appropriate professionals. With this, professionalism will be entrenched in the entire value chain of the real estate sector.
Another way to encourage professionalism in the real estate sector in Nigeria is for the various professional bodies that are operating in the sector to embrace joint ventures and collaborations in the execution of jobs and projects. With a common front, the professional bodies in the built environment can do better in entrenching professionalism.

The Professional Practice Committees (PPCs) of the various professional bodies in the industry should be strengthened, clear cut guidelines should be marshalled out and the erring members should be punished accordingly. Moves to stop the activities of non-professionals in the industry, otherwise known as quacks should be initiated and implemented by the professional bodies with the help of the government and its relevant agencies.

Entrenching and maintaining professional ethics and standards is a serious business and this should be encouraged and adequately rewarded in the Nigerian real estate industry by all stakeholders.

ESV Emmanuel Chinedu Ezeama, a Registered Estate Surveyor and Valuer is the Principal/Managing Partner of Emma Ezeama & Co, a leading firm of estate surveyors and valuers, he sent in this piece from Lagos, Nigeria.