The Role of Estate Surveyors and Valuers – An Estate Surveyor or Valuer (ESV) is an expert or professional in Estate Management geared towards the direction and supervision of landed properties to ensure that huge profits are realized at the end of the day. An estate surveyor and valuer in Nigeria is a person who has been admitted as a corporate member of the Nigerian Institution Of Estate Surveyors and Valuers (NIESV) due to his training and possession of relevant experience. Such a person must also register with the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON)
The role of the Estate Surveyors and Valuers cannot be underrated especially when it comes to urban property development. This is not strange to the fact that their main role is the valuation of landed properties to ensure that the right value is fixated on the property. The first step in the valuation process will be to carry out an inspection of the property to find out the condition of the property. After this is done, the next step that comes to mind will be the market survey and analysis. This is to find out the level of supply and demand of the properties in the market and also to compare the properties to other properties in the market in a bid to know the difference. Thereafter, a valuation of the property is carried out to find out its value.
In this article, we will take a look at the roles played by Estate Surveyors and Valuers in urban property development –
- Provision of labour – Estate surveyors and valuers who are seen to be well established in the society are better employers of labour. They serve as employers and guide to those employed as. This role of job creation is vital in assisting the government to curb the unemployment rate in the country.
- Property consultants – One of the important roles of ESV is acting as a professional consultant of properties with relevant expertise in property management. This role puts them in a better position to be agents of clients that need help in respect to issues involving property such as lease, sale and purchase of land. They also manage the properties of most agents. They also provide advise on issues concerning the valuation of the properties of the clients. They are also experts in maintaining and managing real estate facilities of both private and public enterprises. They can be consulted to seek their opinion and advice on different investments which can be done in real estate.
- Instructors and Educators – Another important role that estate surveyors and valuers play in the urban property development is that of trainers and teachers. They can be able to share their knowledge with students in various institutions of learning whether private or public. They are skilled in matters relating to landed properties and would be a good authority for the students to learn from.
- Arbitrators – This arbitrary role is often best suited for ESV who have in-depth knowledge of matters regarding landed properties. Most times, people spend years on land matters in court but with arbitration, these matters can be settled quickly. The government and other non – governmental organizations have been able to establish arbitration centers whereby people can always come to have their dispute resolved by an arbitrator outside court. As an arbitrator, his estate surveyor and valuer will act as a middle man between the aggrieved parties. He can also be able to render his professional opinion on matters relating to land or even give a valuation of properties to ascertain their value and help to resolve any dispute regarding the value of the property.
- Land economists – The ESV have a vital role to play especially when it comes to rural and urban development infrastructural schemes. With their knowledge, they can be able to give their advice and expert opinion on certain areas and localities within a particular city where different types of housing units can be built in order to meet the needs and solve the problems of the community and also contribute to the development of the region. They will have to carefully and critically carry out adequate evaluation and analysis of various activities within the region. They can help to develop a building plan for the region as well as policies to govern the way land is used in the region. They can also identify issues inherent within the region where the infrastructural development is intended and establish policies and plans for curbing these problems including determining the prices of the lands in the region.
For Estate Surveyors and Valuers related issues or on Valuation, you can contact us at Lansar Aghaji & Co.