AN EXAMINATION OF CITIZENSâ€™ AWARENESS AND PERCEPTION OF THE ESTATE MANAGEMENT PROFESSION IN ANAMBRA STATE

Code No: 643518

₦5,000.00

ABSTRACT

Estate management profession globally, over the years has been receiving attention due to the impact it has on the development of real estate investment and by extension on the national income of various countries. In Nigeria estate management has enjoyed the same fate but not with some challenges, this is the case in Anambra state where majority of the public are not aware of the term ‘Estate Management’.

The study was carried out to examine citizens’ awareness and perception of profession of Estate Management in Awka, Anambra State. Thus to achieve this aim, four objectives were raised. In line with the objectives, four research questions as well as research hypothesis were formulated to guide the study. A total of Three hundred and ninety-nine (399) was sampled from the total population using the Taro Yamane’s statistical formula. A well structured questionnaire was used as a major instrument for data collection. The data collected were presented in tables and analyzed using simple percentages and mean. Chi-square square statistical tool was employed for testing the first research hypothesis.

The result of the hypothesis indicated that the calculated value of 121.79 was higher than the critical value of 9.49 at a level of significance of 0.05. Hence, the null hypothesis was rejected while the alternative was accepted. The second hypothesis was accepted on the grounds of majority decision by respondents. The study concluded that Estate Management though a noble profession can only make impact in the society when the proposed consumers of their services comes to appreciate fully who an Estate Surveyor and valuer is and as well understand the services which a professional Estate surveyor can render. This will not only improve the state of art of properties in the state but also help in affecting our economy positively.

CHAPTER 1

INTRODUCTION

BACKGROUND OF STUDY

Estate management is the science and art of conducting and operating affairs bothering on land and landed property with the aim of securing optimum returns (yields) to the holders of interest in the property (Egolum, 2002). From the definition of estate management one can see that there are elements of management which are ‘conducting and operating’ this simply means that there are persons saddled with the responsibility of conducting and operating such affairs bothering on land and landed property. The body saddled with such responsibility or function of operating the affairs of such interest on land is known as Nigerian Institution of Estate Surveyors and Valuers, (NIESV). Before any individual can act in such a capacity of conducting and operating affairs bothering on land such an individual must be certified by the institution (NIESV).

From the above it has been established that it is the function of Estate Surveyors and Valuers to carry out any real estate services in Nigeria ranging from Valuation of properties, Management of properties, Feasibility and Viability Appraisal, Agency etc. The question at heart is, to what extent are the people aware of the existence of this service oriented institution and for those that know of its existence, what opinion do they hold for the members of the institution otherwise known as Estate Surveyors and Valuers in Nigeria.

It is the intention of this study to bring to the limelight the opinion or perception of persons in Anambra state, on the institution and its members and by extension the nature of their services.

STATEMENT OF PROBLEM

Estate Management profession globally, over the years has been receiving attention due to the impact it has on the development of real estate investment and by extension on the national income of various countries.

Gambo Y.L, Osagie J.U, Salihu M.M and Ogungbemi A.O. (2012) was of the view that in Nigeria it is evident that many students gain admission to study estate management in tertiary institutions without a good grasp of what the course is all about. This is also the case in Anambra state where the majority of the public are not aware of the term ‘Estate Management’ more so as a course of study as it is mostly offered to students to study as an alternative to a much preferred course of study.

Most often than not, lawyers due to their knowledge of property law tend to assume the position of an Estate Surveyor And Valuer and claim to manage real properties thereby leaving such property to depreciate in value mostly as to physical kind of depreciation. This kind of depreciation often sets in because lawyers and other individuals who assume the position of Estate Managers in the management of properties are not trained in the art of management of such real property. This is because management goes beyond mere collection of rent.

Also, due to the professional charges placed on the real estate services rendered by such professionals, members of the public tend to resort to alternative to such services, thereby reducing the rate at which persons patronize the members of the institution (NIESV).

Finally, the Nigerian institution of Estate Surveyors and Valuers in Anambra State has not been able to create awareness good enough to register the existence of the institution in the hearts of people, and to make effort in pushing for laws that will bar other professions from encroaching into Estate Management functions.

AIM AND OBJECTIVES OF STUDY

This study aims at examining citizens’ awareness and perception of the Estate Management profession in Anambra State.

In order to achieve the aforementioned aim, the study seeks to address the following objectives:

To ascertain the awareness level of citizens towards Estate Management profession in Anambra state.
To ascertain the perception of citizens on professional Estate Managers as against unqualified persons.
To determine possible ways of increasing the level of awareness of citizens to the profession of Estate Management in Anambra State.
To determine possible ways of changing the negative perception of citizens to the profession of Estate Management in Anambra state.