To maximise potential of the profession, the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON) has enjoined practitioners to diversify to other areas of competence, embrace ethics of integrity and honesty.
The Chairman of the board, Mr. Gersh Henshaw, gave charge at the 2023 Valuers Assembly themed: “Regulating other Areas of the Estate Surveying and Valuation Profession” held in Lagos. The assembly is a yearly gathering of registered estate surveyors and valuers and offers a platform in achieving the objective of the board.
Henshaw expressed concern that practitioners have remained constricted by the narrow and restrictive definition of estate surveying and valuation by the enabling Act without recourse to the fact that the profession has wide vista of aspects and opportunities.
Highlighting the need for practitioners to tap into the opportunities offered in the facilities management sector, Principal Partner, Estate Links Ltd, Mr. Gbenga Olaniyan, urged practitioners to promote interdisciplinary education and training among themselves and establish industry standards for effective collaboration.
He said they must leverage technology for efficient property management in urban areas and promote services of the valuers as a facility manager to take over the space.
Speaking on “Leveraging Arbitration in the Practice and Regulation of Estate Surveying and Valuation Profession in Nigeria,” Mr. Francis Okpaleke, said professionals should invent new strategies of engagement within the framework of arbitration and alternative dispute resolution to resolve regulatory issues with other professional bodies.
He said ESVARBON should encourage arbitration and Alternative Dispute Resolution (ADR) provisions in the industry’s regulatory guidelines and encourage mandatory arbitration and ADR clauses in their contracts with clients to promote consistency, as well as mitigate the adverse impact of dispute in the industry.
“ESVARBON should restructure the operational framework and establish a dispute resolution directorate. The directorate should be aligned with the expanding scope of the profession and associated groups,” he said.
Okpaleke, who is also an expert in real estate dispute resolution, challenged the board to be research driven, carrying out market research by monitoring compliance to standards and guidelines, as well as review standards and guidelines based on market fundamentals. This, he noted, can be done by collaborating with the academics and tertiary institutions or by commissioning research grants.
“The board should expand its operations by collaborating with professional groups to develop certification processes and programmes; some of the professional groups can be authorised to issue licenses with the institution’s and board’s authentication.
“Creation of an inspection, market monitoring and quality assurance unit will be charged with the responsibility of reviewing standards, producing guidance notes and liaising with all the relevant stakeholders including the government to enhance the work of the regulator,” Okpaleke added.
(ESVARBON) Vice Chairman, Mr. Stephen Jagun, wants valuers to uphold the profession’s highest standards of ethical conduct and behaviour.
He said: “We need to act with honesty, integrity, objectivity, impartiality, competence, diligence, confidentiality and respect, as well as avoid any conflicts of interest or situations that may compromise our independence or credibility. We need to abide by the code of ethics, professional conduct and practice directions issued by ESVARBON occasionally. We need to follow the guidelines and standards for different areas of estate surveying and valuation practice.”
Earlier, an estate surveyor and valuer, Adamu Kasimu, said the board has provided robust standards for compliance on regulatory frameworks for involuntary land acquisition compensation valuation by registered persons. Kasimu said ESVARBON would develop additional templates to guide compensation and valuation practices.
