The Role of Estate Surveyors and Valuers in Property Advisory Services
ESV Leke H. Jide
Globally, the role of estate surveyors and valuers in the real estate space cannot be overemphasized. One of the primary roles this crop of professionals play is the property advisory services to their clients and stakeholders as well.
Property advisory services encompasses all professional guides and actions taken by a professional, estate surveyors and valuers in this context, to their clients as it relates to property matters. These services include property investment analysis, strategy development, portfolio assessments, market and economic analysis, and so many other areas.
In the Nigerian property market, one distinct feature that distinguishes estate surveyors and valuers from other professionals is the fact that they have the sole professional mandate to carry out valuation services of all kinds with their seals and stamps as authorized by the federal government through the Nigerian Institution of Estate Surveyors and Valuers (NIESV), and the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON). Simply put, in addition to other services being rendered by estate surveyors and valuers in the Nigerian real estate sector, and even in other climes, they are the only set of professionals in the built environment and even outside the built environment to render asset valuation services to the general public.
From the aforementioned, it is quite clear that the best set of professionals to engage when it comes to property advisory services are the estate surveyors and valuers. No one can advise better than he or she who knows the market value of the property or asset as the case may be. On this premise, therefore, the role of estate surveyors and valuers in the Nigerian property market cannot be quantified.
In addition to acting as the custodian of land and landed properties, estate surveyors and valuers also ensure that the properties under their care are properly and professionally managed, and make returns to their clients and the investing public. Thus, every investor in the Nigerian property market and beyond will need a licensed estate surveyor and valuer as property adviser.
The massive entrance of quacks and other professionals into the Nigerian property market is affecting the market in so many negative ways. This is the major reason why prospects, clients, and wise investors in this very important sector of the local and global economies should leverage the professional services being rendered by estate surveyors and valuers.
The government at all stages in Nigeria understands this very important role and this informed the reason why the government has been partnering with estate surveying and valuation firms for compensation of all purposes. Those seeking for valuation services in the organized private sector should emulate the government and follow suit.
To conclude, estate surveyors and valuers will remain dependable partners for all forms of advisory services in the real estate sector. And for wise investors, clients, and prospects, patronizing this set of professionals will always be a big plus for investment decisions.
ESV Leke H. Jide is a registered Estate Surveyor & Valuer. He is the Principal Partner of Leke Jide & Co. (Estate Surveyors & Valuers) with a corporate head office in Abuja. He sent this piece from Abuja.
