An Examination Of Citizens’ Awareness And Perception Of The Estate Management Profession In Anambra State

2.2.4 HOW ESTATE MANAGEMENT PROFESSION AFFECTS THE NIGERIAN ECONOMY

Below is detailed explanation of some roles of estate management on the Nigerian economy

Maintenance of Public Infrastructures/Assets:

Estate Surveyors and Valuers trained in the art and science of estate management has important and inevitable roles to play in the management and maintenance of the nation’s public infrastructures – land and buildings, plant and machinery, furniture and fixtures – based on their professional expertise, training, qualification, years of working experience and the knowledge they possess in all matters relating to land and landed properties.

Some of the roles Estate Surveyors and Valuers can perform in the course of managing public infrastructures/assets in Nigeria are:

• Formulate a well detailed planned preventive maintenance policy to the government for managing public infrastructures/assets
• Help to identify and establish the operative life span and renewal of the component parts that makes up such public infrastructures/assets
• Carry out continuous renovation and remedial works on some of the infrastructures’ component parts that require minor or early repairs before they affect other parts of such assets/facilities
• Continuously act in the capacity of a facility/asset manager of public infrastructures/assets on behalf of government for the overall beneficial interest of the government, citizens and nation as a whole

Act As Land Economists For Infrastructural Development Schemes: In the provision of infrastructural development schemes, Estate Surveyors and Valuers have important roles to play because they act and serve as land economists through their education and training in the concept, theory and principles of land economics – rural and urban – to give expert opinion and advise on the various locations within a region where different types of land uses – residential, commercial, agricultural, etc – can/should be developed based on the  needs of the populace, as well as other urban and non-urban land issues.

The roles expected of Estate Surveyors and Valuers as land economists in relation to infrastructural development schemes are:

• Analyze organization of activities in a region
• Establish factors that determines prices of land in a region
• Examine intra-location choices of firms and households
• Formulate policy for various land-use control
• Identify all the various urban and non-urban issues inherent in carrying out infrastructural development schemes in a particular region
• Assist in formulating a region’s development master plan

Custodian of Land And Landed Properties: Estate Surveyors and Valuers while acting as custodians of land and landed properties performs the role of ensuring that those classes of land and landed properties been entrusted onto them are continuously properly managed and maintained in order to improve their aesthetic value, monetary value and lifespan, as well as achieve the expected optimum returns which are in varying forms for the owners of such land and landed properties. They are:

• Management and maintenance of land and landed properties for the owners
• Advise on the highest and best use of any land and landed properties
• Act in the overall beneficial interest of owners of land and landed properties
• Help to formulate a master plan for infrastructural development projects in the society
• Determine the monetary value and worth of land and landed properties

Land Dispute Arbitrator: To curb and minimize the time taken to determine and give judgments on some of these land disputes, government has set up civil mediation centers acting as an alternative to dispute resolutions, mandated to handle and cater for cases relating to various land and property disputes in a non-judicial manner through the appointment of an arbitrator.

The roles Estate Surveyors and Valuers perform in the society when appointed as land and property disputes’ arbitrators by the aggrieved parties are:

• Act as intermediary between the aggrieved parties to the land and property dispute
• Act as a neutral umpire without taking sides to any of the aggrieved parties to the land and property disputes
• Form member of a land dispute tribunal to determine arbitration cases relating to land and property disputes
• Proffer professional and expert opinion on compensation valuation cases as well as all matters relating to land and landed property disputes

Professional Property Consultation and Expertise: Some of the roles performed by Estate Surveyors and Valuers as professional property consultants and experts who make them to be very relevant in the development of a society as whole are:

• Advise on various types of real estate investments that can be embarked upon
• Management and maintenance of both public and private real estate facilities and assets
• Provide an opinion of value for all land and landed properties, plant and machinery, furniture and fixtures on property valuation matters
• Serve as property managers to clients’ properties
• Serve as professional estate agents to clients on matters relating to land and landed property sales, acquisition and lease.