Professionalism or Clienteism: An X-ray of Valuation Practice in Southwestern Nigeria

Abstract

Aim: The study seeks to examine factors that do stir up a professional valuer in initiating influence of his client on reported value figures. Study Design: A review of relevant literature, followed by an exposition of methodological approach and then a discussion of findings. Place and Duration: Department of Estate Management and Valuation, The Federal Polytechnic, Ilaro, Nigeria between December, 2014 and February, 2015. Methodology: A questionnaire survey of 63 Valuers randomly drawn from two major cities in Southwestern Nigeria – Abeokuta and Ibadan - was undertaken. The findings were examined using descriptive statistics and correlation analysis. Results: The study revealed that though the longer the experience and the more exercises a valuer handles, the greater his propensity to overcome challenges on data and methodology, his willingness to unduly satisfy clients also increases. Thus, the pursuit of ‘clienteism’ as against professionalism bothers as much on personal integrity as on incompetence and inadequate experience. Conclusion: Real estate professional bodies must be proactive in ensuring that those to be registered for the more sensitive valuation services truly possess needed skills – such as of investigation, documentation and analysis – as well as attributes like integrity.