By: Tolulope Oluwole
The Nigeria Institution of Estate Surveyors and Valuers (NIEVS), Ondo State Branch has celebrated ‘valuation day, in grand style with a road show and other activities lined up for this year’s celebration.
5th of May, every year is set aside to celebrate the profession of estate management in Nigeria under the name, “Valuation Day”.
The theme for this year is; “Key To Decision Making For Asset And Resource Optimization”, which means in every decision anyone wants to take as far as real estate is concerned, valuation is needed to take that decision, whatever you want to invest on, valuation is needed, as long as you are profit oriented.
Speaking on the celebration, ESV Idris Oloruntoba, the State Chairman of NIESV opined that “talking in terms of economy of any country, you cannot but talk about estate surveyors. Estate Surveyor is better called land economist, they want you to know how land can be used optimally, how land can be used with the best result”.
“Land is a limited supply and if you don’t put it into the best use, it’s like you are wasting it. That is why an estate surveyor has to be involved in anything you are doing in terms of economy”.
“Valuation day is the day to create awareness to people world wide, for them to know that there is a profession called Estate Surveyor and Valuers and what they do”, Valuer Idris said.
On his part, ESV Akintomide Akinlabi, the Vice Chairman of Ondo State Council and Chairman of the 2023 Valuation day planning committee, revealed that NIESV is an association of individuals that come together, having the same kind of professional practice which is Estate management practice.
Akinlade said “the Nigeria Institution of Estate Surveyors and Valuers came together and said we should have a day to celebrate our profession and we now felt that Valuation, being our core practice should be used as an anchor, so that is why we call it valuation day”.
“Actually, what we are celebrating is Estate management practice but using valuation as our symbol because it is our core practice and that is our area that no intruder can practice without license”.
“By the virtue of what we do, we do property management, we do property agency, we do land administration and much more. But valuation is very important to individual, to government, to the society at large. If you want to mortgage from bank, they will ask for your collateral and they will need to determine the value of your collateral, so you will need estate surveyor and valuer to carry out the valuation.
“If government wants to acquire your property, you need to know what you are due for, you need valuation, even if you want to buy a property, you need a valuer, if you want to insure your property, you need valuation. I want to tell you, in every aspect of human’s life, a valuer is very important”.
“The importance of Estate management practice cannot be underestimated because we deal with land”, Akinlabi said.
