Estate surveyors and valuers in the country have been urged to hone their professional skills for improved valuation practice in the country.
According to the Chairman, Estate Surveyors and Valuation Board of Nigeria (ESVARBON), Gersh Henshaw, this feat could only be achieved through continuous participation in training programmes of the Board.
Making the appeal in Port Harcourt, Rivers State, during the annual gathering of registered estate surveyors and valuers, otherwise known as the Valuers’ Assembly, Henshaw said the forum was intended to offer a platform for registered persons and the Board to cross-fertilize ideas that will not only aid the practice of the profession but also enhance its effective and efficient regulation and control.
The chairman emphasised that effective participation in the continuous professional training was necessary, being one of the conditions for the renewal of a practice license.
“Bear in mind that your effective participation in the event will earn you eight credit points which will go a long way in enabling renewal of your practising license next year,” he said.
Henshaw, who pledged to boost valuation practice in the country, assured of immense benefits estate surveyors and valuers in the country would derive from actively participating, adding that, such trainings will boost their professional competence and equip them to compete favourably either in Nigeria or beyond the shore of the nation.
In his message, President, Nigerian Institution of Estate Surveyors and Valuers, Chief Emma Wike, said the theme of the event, “Asset Valuation as an Economic Tool for Decision making in Emerging Markets was crucial issue in real estate investment with capability of reducing appreciably the myriad of problems confronting the sector and positioning it as the key driver of national economic development.
According to him, real estate investment is one of the panacea for economic instability in Nigeria, adding that investment in the sector has the capacity of transforming the nation’s economy, eradicating or reducing hardship and poverty substantially.
“Interestingly, the emerging real estate market in Nigeria is characterised with investments in residential and commercial properties, with private developers playing key roles.
“This calls for asset valuation for decision-making in facilitating loans and advances,” Wike saidThe NIESV’s president added that, as professional estate surveyors and valuers, trained and equipped with competencies to undertake valuation of all types of assets, their valuation must be real, market-driven, focusing more on investment and direct market comparison because they are invariably suggesting to the banks that, the property developer has presented a loan guaranteed asset, good enough as collateral in the event of failure or inability to pay the loan.
The event that was adjudged to be well-attended discussed three areas. They include: Asset valuation as an economic tool for decision-making in emerging markets, handled by Mr. Gbenga Olaniyan; the investment and portfolio management decision by Olusegun Adebayo Ogunba; and intellectual property and small and medium scale enterprises (SMES): taking your ideas to market delivered by immediate past Chairman, Faculty of Business Divisions and Intellectual Property Valuation, Nigerian Institution of Estate Surveyors and Valuers, Bamidele Ogunleye.
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