Adenrele Fatima Olowokure, an expert, has noted the increasing occurrence of building collapses in Nigeria and emphasized the need to involve Estate Surveyors in the investigation process.
She also expressed disappointment that the government at all levels has not fulfilled this expectation from the profession.
Olowokure spoke in Lagos in her Paper delivered at the 2023 Associates Induction of the Nigerian Institution Of Estate Surveyors and Valuers (NIESV) during which 518 new associates were inducted.
She spoke just as the President of the Institution, Mr. Johnbull Amayaevbo, charged the new inductees to embrace full professionalism in the discharge of their duties.
In her lecture titled, “Navigating Modern Real Estate Professional Practice: Expectations, Challenges and Opportunities,” the lecture observed that estate surveyors have not been involved enough in the area of investigations into building collapses which unfortunately is becoming so rampant nowadays.
According to her, “Laws to insist that estate surveyors manage properties and tenants are lacking, and therefore waste from leaking pipes drain into walls and thereby weaken structures while the landlord and tenant trade blames until the structure collapses when it can no more withstand the pressure.”
“Estate Surveyors should be legally equipped to inform established authorities to sanction such owners of properties.”
She charged the new inductees to always comply with a range of legal and regulatory requirements when valuing properties.
These, according to her, include zoning laws, environmental regulations, and building codes, among others.
“Keeping up with complex laws and regulations is unnegotiable. Estate law is complex and ever-changing, we must stay up-to-date on the latest laws and regulations in order to provide accurate advice to our clients, not shortchange ourselves, overcharge clients, or get into trouble.”
“The regulatory processes for real estate transactions in Nigeria can be complex and bureaucratic; This can make it difficult for real estate professionals to complete transactions efficiently and accurately
“Ensure you get your form registered with Special Control Unit Agent Money Laundering (SCUML) for if you do not, the banks will one day place restrictions on your company account, ” she advised.
She said several opportunities abound in real estate and stressed the need for professionals to let professionalism guide them.
The President who congratulated the new inductees for sailing through the rigour of the qualifying examinations enjoined them to go through what the profession is all about and its expectations from them.
He said, “You must see your new calling as admission into the global network of professionals who have committed themselves to be change agents in their practices and in private lives, and who have resolved to promote positive changes in their professional organizations and the Nigerian economy at large.
“One of the hallmarks of professionalism, especially in the Estate Surveying and Valuation profession, is training and retraining, especially in today’s rapidly changing world. It is required of you to acquaint yourselves with current developments in the industry if you are to remain competent and relevant.”
The President stated that strict adherence to professional ethics and conduct is also required of them, adding “Your actions and conduct will affect the entire membership, positively or negatively.”
“I urge you to abide and be guided at all times by the rules and regulations of the Institution as contained in our Constitution and Code of Ethics. You are to conduct yourselves always in the most ethical manner befitting of our profession,” he added.
Source: Daily Trust