PROCESS AND PROSPECTS OF BECOMING ESTATE SURVEYOR AND VALUER

BEING

A PAPER PRESENTED AT THE ORIENTATION PROGRAMME OF THE DEPARTMENT OF ESTATE MANAGEMENT BAYERO UNIVERSITY KANO STATE.

DATE : 13^TH OCTOBER 2023

BY; ESV FELICIA C. CHUKWUEMEKA (MRS). B.SC, MEM, ANIVS, RSV.

INTRODUCTION

Good Day, esteemed noble colleagues, members of the Estate Management Department, students and distinguished guests. Today, I’m honored to discuss the Process and Prospects of becoming an Estate Surveyor and Valuer in Nigeria.

Estate Surveying and Valuation is a vital profession in Nigeria’s real estate industry, providing expert advice on property valuation, management and development. As future professionals, understanding the process and prospects of this career path is essential.

DEFINITION AND SCOPE

Who is an Estate surveyor and valuer

An Estate Surveyor and Valuer in Nigeria is a well trained professional in the field of Real Estate. He is knowledgeable in the art, science and technology of land and landed properties. He is the expert and consultant on matters of real estate to individuals, corporate bodies, government and society at large. He must be registered with the professional bodies authorized to oversee the activities of the professionals. These are Nigerian Institution of Estate Surveyors and Valuers (NIESV) and the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON)

Estate Surveying And Valuation Involves:

1. Property valuation and appraisal
2. Acquisition, Assessment of compensation and payment
3. Property Management.
4. Sales, Purchases of land and landed properties
5. Project management
6. Feasibility and viability appraisal
7. Dispute resolution and arbitration
8. Auctioneering.
9. Agency
10. Facility management services.

Importance of the Profession

Estate Surveyors and Valuers:

1. Facilitate property transactions
2.  Provide expert advice on property values and best use
3. Enhance property management efficiency
4.  Contribute to national development and policy-making

PROCESS AND PROSPECTS OF BECOMING AN ESTATE SURVEYOR AND VALUER IN NIGERIA.

PROCESS

To become an Estate Surveyor and Valuer in Nigeria, the following processes are involved:

Educational Requirements

Obtain a Bachelor’s degree/ Higher National Diploma (HND) in Estate Management or related fields (e.g., Architecture, Building, Quantity Surveying e.t.c). During this academic level as you are undertaking now, one is expected to register with the NIESV as a student and be participating in professional trainings/workshops this will  help you academically and also help you get familiar with the practicing professionals who can help you academically from time to time.

Registration as a Probationer.

After graduation and completion of NYSC, One has to register with NIESV as a probationer. You are also expected to attach yourself to An Estate Surveyor and Valuer for mentoring. Within this period too you are to write professional examinations in stages/parts depending on the basic certificate obtained above. On passing the professional examinations accordingly, you proceed to obtain a form for registration and certification by NIESV. You will also write a detailed thesis on a work you successfully handled in your field of practice and apprenticeship. This will be submitted to NIESV and you will be invited for interview. This is the perspiring and aspiring state. A lot of graduate estate surveyors mostly fall out of professional practice and join other prospects available for graduates but those who persevere surely enjoys great benefits accruing to this noble profession which you can testify that you know no valuer who is hungry.

Registration as An Associate.

To the glory of God, having scaled through the perspiring and aspiring stage above successfully, the institution (NIESV) will invite you for an interview. On passing the interview, you will be awarded with an associate certificate referred to as ANIVS. Next you proceed to the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON) who controls the practice. You will be issued with a license and seal to practice this profession in any part of the country. (RSV). At this level, you have become a registered Estate Surveyor and Valuer. You can then approach NIESV and register a firm to practice for those in private sector.

As an Estate Sueveyor and Valuer, you join the noble family to build this great practice by contributing towards its objectives. This will be achieved by;

1. Paying your annual subscriptions accordingly
2. Participating in NIESV activities at both national and state levels
3. International affiliations (e.g., International Valuation Standards Council (IVSC))
4.  Mandatory Continuing Professional Development (MCPD)

PROSPECTS:

The prospects of becoming an Estate Surveyor and Valuer in Nigeria are promising, with:

1. Growing demand for real estate services.
2. Increasing government investment in infrastructure/initiatives (e.g., National Housing Fund)..
3. Increasing demand for housing
4. Expanding private sector participation.
5. Emerging trends, Expansion of the real estate sector (sustainable development, green buildings).
6.  Growing need for property valuation and management services

As a result of this, job opportunities are readily available;

• In government agencies (e.g., Federal Ministry of Works and Housing, Ministry of Lands, etc).
•  Private practice (consulting firms).
•  Property development companies.
• Financial institutions (e.g., banks, investment firms).
• Academic institutions.

All these opportunities are lucrative and offer competitive salaries. Even in private practice, consultancy fees are very reasonable and becoming a developer can never be underestimated.

Personal Satisfaction:

• Contributing to national development.
• Helping clients achieve property goals.
• Resolving disputes and conflicts.
• Continuous learning and professional growth.

Entrepreneurial Opportunities:

• Starting a consulting firm.
• Property development and investment.
• Real estate agency.
• Facility management services.

CHALLENGES AND SOLUTIONS:

Challenges:

1. Economic instability.
2. Regulatory framework.
3.  Competition.
4. Technological advancements.

Solutions:

To succeed, professionals especially Estate Surveyors and Valuers must

1. Be on constant professional development Training and workshops MCPD. This will help professionals here to stay updated on industrial trends.
2.  Industry collaboration and Networking.
3. Adaptation to technological changes.
4. Develop strong snsiytical and communication skills
5. Strategic business planning.

CONCLUSION:

Becoming an Estate Surveyor and Valuer in Nigeria offers numerous prospects for career growth, financial stability, and personal satisfaction. With the right skills, knowledge, and attitude, professionals can thrive in this dynamic industry. As aspiring Estate Surveyors and Valuers, you have a vital role to play in Nigeria’s real estate industry. Embrace challenges, leverage opportunities and strive for excellence.

Thank you.

References

1. NIESV. (2020). Estate Surveying and Valuation in Nigeria.

2. ESVARBON. (2020). Registration Guidelines.

3. IVSC. (2020). International Valuation Standards.

4. Adejuwon, K. (2019). Estate Management in Nigeria.