A former chairman of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Lagos branch, Mr Dotun Bamigbola, has called on estate surveyors and valuers to embrace digital transformation, invest in data, and position themselves at the forefront of technology-driven real estate practice.
Bamigbola dismissed fears that automation and artificial intelligence (AI) could replace human valuers, stressing that “technology is not replacing valuers, but empowering them” to deliver more efficient and credible professional services.
Speaking at a masterclass during the NIESV Lagos summit themed “Tech-Driven Valuation: Geographical Information System, Artificial Intelligence, and Automated Valuation Models (AVMs) for Real Estate Professionals and Investors,” he said digital tools are reshaping the real estate landscape by enhancing accuracy, speeding up transactions, and building investor confidence.
According to him, the future of valuation lies in hybrid models, where technology complements human expertise. He added that professionals who adopt AI and blockchain-based systems are better positioned to improve transparency and credibility in property markets.
“Valuation is the backbone of real estate decisions,” Bamigbola said. “Traditional methods rely on manual inspections, comparable analysis, and income approaches, which are often time-consuming and subjective. With technology, valuation is becoming faster, smarter, and more transparent.”
While highlighting the promise of digital transformation, Bamigbola also identified potential challenges such as data availability and reliability, especially in emerging markets, regulatory acceptance of AI/AVM-based valuations, and cybersecurity and data privacy concerns. He advocated for a balanced approach that combines technology with professional oversight to ensure accuracy and ethical compliance.
Bamigbola, who is also the Senior Partner at Bamigbola Consulting (BC), outlined the growing opportunities that technology offers to real estate professionals and investors. These include faster decision-making in acquisitions and disposals, improved portfolio monitoring, enhanced due diligence, and access to a global network of data-driven investors seeking transparent valuations.
He explained that AI’s role in valuation now extends beyond automation, helping valuers detect patterns, forecast trends, and manage risks. “AI learns from data to predict outcomes. It supports predictive analytics for price trends, natural language processing for reviewing lease agreements, and image recognition for assessing property conditions through photos and drone surveys,” he said.
By reducing human bias and providing real-time insights, AI can handle large datasets beyond human capacity. From the investor’s perspective, he added, it can even identify undervalued assets within a portfolio, offering a competitive edge in fast-moving markets.
On the role of Geographic Information Systems (GIS) in valuation and planning, Bamigbola explained that GIS enables mapping of property locations with demographic overlays, analysis of land-use patterns, flood risks, and accessibility. It also supports site selection, market intelligence, and urban planning by integrating spatial and economic data.
He noted that GIS enhances valuation accuracy through location-adjusted comparables, visual insights for stakeholders, and integration with big datasets such as transportation networks, schools, and amenities.
“Technology has transformed how we see, evaluate, and interact with real estate,” he said. “But while the tools are powerful, the professional remains indispensable. The future belongs to valuers who can combine technological fluency with sound judgment and ethical responsibility.”
Bamigbola urged NIESV members to adopt innovation, continuous learning, and collaboration with data scientists and tech developers to future-proof their practice. He emphasised that in the digital era, competence and credibility, not fear, should define the valuers’ role.
