EXPERTS have urged estate surveyors and valuers to move away from ad-hoc, founder-led practices and embrace institutional models that prioritise documented processes, technology and succession planning.

They said the move had become necessary to address the succession crisis threatening the profession, as a generation of established practitioners approach retirement without adequate systems to sustain the firms they built.

They also encouraged practitioners to structure their firms to operate effectively and efficiently, while deploying technology and centralised data rooms to preserve institutional knowledge and records.

Founder/Chief Consultant, BAA Consult and keynote speaker at this year’s Heads of Practice Assembly, Prof. Biodun Adedipe, made the call at the programme organised by the Lagos Branch of the Nigerian Institution of Estate Surveyors and Valuers (NIESV).  Themed, ‘Leadership in Real Estate: Navigating 21st Century Challenges for Heads of Practice,’ the event featured a panel discussion involving Principal Partner, Dayo Okeniyi Consulting, Dayo Okeniyi; Principal, V.O. Enwenezie & Co, Vivian Enwenezie; and Group Head, Human Resources and Corporate Services, HIG Africa, Juliet Kekporo.

The session, moderated by Managing Partner, Samson Agbato Consulting, Emmanuel Ebede, also attracted the Permanent Secretary, Lagos State Lands Bureau, Kamal Olowosago.

Adedipe said the objective should be to build organisations with systems that can survive beyond their founders, stressing that those policies and procedures should be documented rather than retained in the heads of individuals.
“The main idea is to have organisations that are wellstructured by having systems in place. Most organisations don’t last because they have policies that are not documented. Every practice exists for clients. So, the value you want to deliver to clients will also be well-defined and how you deliver it,” he said.

He explained that firms seeking to remain relevant in the 21st century must establish business processes that consistently deliver value to clients and entrench enduring practices.

According to him, a system comprising policies, procedures, processes and practices, designed in a well-defined manner with the client at the centre, would enable firms to remain relevant and potentially outlast their founders.
He urged practitioners to embrace the philosophy of becoming “stronger without me,” by reinventing their processes through strategic direction and partnerships.

Adedipe also called for an ecosystem mindset among practitioners, noting that firms could compete in some areas while collaborating in others to create greater value.

“Everyone in practice must develop a domain competency that makes the practice relevant in the market. Every founder of a practice must also treat himself or herself as an employee of the company.

“When you do that, the company will therefore have its own resources to take advantage of opportunities when they arise in the market. And that also helps organisations to grow with their own resources rather than having to borrow all the time,” he said.

Chairman of the Lagos State Branch of NIESV, Tosin Kadiri, said the real estate landscape was undergoing rapid and unprecedented transformation, adding that economic volatility, regulatory shifts and digital disruption are testing traditional approaches to practice management.

“Today’s challenges require more than conventional management. They demand adaptive and visionary leadership. We must actively steer our organizations through austerity, leverage on technology to enhance transparency, and uphold the highest ethical standard of our profession. The programme has been carefully put together and designed to provide practical insights into modern leadership, strategic decision-making, business sustainability, talent development, succession planning, digital transformation, risk management, and ethical practices.”

On his part the Vice Chairman of the branch, Ayodeji Odeleye who spoke on ‘Leading beyond the horizon building resilient practices and transformational leadership for estate surveyors and valuers in the 21 century’ argued that the profession stands at a strategic crossroads, noting that remaining relevant requires collective action by Heads of Practice.

Odeleye said the leaders must therefore accelerate digital transformation across professional practice, institutionalise succession planning and structured mentorship for emerging professionals, diversify practice areas to strengthen organisational resilience, embed Environmental, Social and Governance (ESG) principles into valuation and advisory services.

He stated the need to strengthen collaboration with government, academia, financial institutions, and technology providers, uphold ethical standards as the foundation of public trust and professional credibility, and build firms that are innovation-driven, knowledge-based and globally competitive.

He also highlighted that the greatest threat facing the profession is not technological disruption, economic uncertainty or increasing competition but the failure to lead change.

“Every generation of professionals inherits the responsibility of preparing the profession for the future. This generation of Heads of Practice carries an even greater obligation to transform firms into agile institutions capable of thriving in a rapidly changing world,” he said.

Earlier, Chairman of the occasion/founder RCO Properties, Mr. Richard Okafor, lauded the branch for sustaining initiative that places the practitioners in first position and urged them not to relent.

Second Vice President of NIESV, Olushola Abeji, pledged the commitment of the institution’s national body to transform the practice of the profession through capacity development schemes and other programmes being mapped out.
Also speaking, Managing Partner-Chris Davidson Advisory Ltd, Mr. Babatunde Bamgboye, advised practitioners to develop new ways of thinking as transformational leaders in the sector. He urged them to effectively manage tension, train and idealise influence and be productive in practice.