Professionals call for better estate agency practice

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Maureen

Ihua-Maduenyi

Real estate experts have called for improvement in the agency aspect of the profession in the country.

The President, Nigerian Institution of Estate Surveyors and Valuers, Dr. Joshua Patunola-Ajayi, said at the second annual conference of the Association of Estate Agents in Nigeria that professionals should go back to the drawing board and ensure they were in tune with global best practices.

He said, “Real estate agency is a profession and not just a business, and the world has gone far from what it was. Marketing, for instance, has shifted from the streets to the Internet.

“As professionals, we have to go back to the drawing board and make sure we are in tune with the practice of estate agency all over the world.”

The conference had as its theme, ‘Estate agency practice and national development’.

A past President of NIESV, Mr. Bode Adediji, said estate agents could make a difference in the economic growth of the country.

“It is not sufficient to discuss; we must carry our knowledge to the power quarters and contribute to the movement of Nigeria from recession to prosperity,” Adediji said.

An estate surveyor and valuer, Mr. Gbenga Olaniyan, who spoke on the prospects and challenges of the profession, said estate agents could make a difference by finding solutions to marketing properties with faulty titles and being up to date with technology, among others.

Similarly, the Managing Director, UAC Property Development Company, Mr.Hakeem Ogunniran, said estate agents must begin to think differently in creative ways.

“Estate agents are critical in the real estate value chain; they should be the interpreter of the market. They should do market segmentation and sieving of potential buyers and ensure that the rules of engagement are properly followed,” he added.

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