DEPARTMENT OF ESTATE MANAGEMENT TOWN/GOWN SEMINAR

COVENANT UNIVERSITY

PAPER ON

EMPLOYMENT OPPORTUNITY FOR GRADUATE OF ESTATE VALUATION

BY:

ESV. (DR.) BOLARINDE .J. PATUNOLA-AJAYI, FNIVS, RSV, MRICS

1ST VICE PRESIDENT, NIESV. CHARIMAN APBN, LAGOS STATE CHAPTER
(26TH OF FEB., 2015)

J. AJAYI PATUNOLA & CO. 1

 ABSTRACT
2

Population growth continues to drive the ongoing development of residential, retail and
commercial properties in Nigeria and indeed around the world. Estate surveying and
valuation professionals are responsible for the development, sales, management, leasing and
valuation of such properties. In this fast growing industry and incessant change in real estate
trends, it is no surprise that Estate Management and Valuation graduates are on high
demand.

The career prospects of Estate Management and Valuation study is more than estate agency
work as most people assumed it to be in Nigeria, because estate management and valuation
study as a course, is a multi-facet discipline that covers all areas relating to the direction and
supervision of land and landed properties with the aim of securing an optimum return
which could be more than just monetary gains but other group of benefits such as
psychological, social and economic gains. What this indicates is that the professional
services of estate management graduates in the labour market and society at large is
inevitable because mans existence on earth has a strong attachment (spiritual and carnal) to
land and landed properties for his survival, shelter and wellbeing.

This paper aims to identify and explain some of the various areas/industries where
graduates of Estate Management and Valuation can take up employment opportunities.

Keyword: Graduate, Career, Estate management and Valuation, Land, Property

J. AJAYI PATUNOLA & CO.

 INTRODUCTION
3

Estate Surveying and Valuation or Estate Management and Valuation, can be

define as a profession in the Real Estate sector which examines, measures,
plans markets, supervises and coordinates the operation and use of land and its
appurtenance on behalf of the owners, with a view to ensuring the optimum
beneficial decision to the individuals and organizations who have interest in the
landed property.

However, every aspiring estate managers and valuers must belong to the
Nigerian Institution of Estate Surveyors and Valuers (NIESV) to be recognized
in Nigeria and beyond. The route to membership is highlighted below:

FELLOW
ASSOCIATE
GRADUATES

J. AJAYI PATUNOLA & CO.

 SCOPE OF THE SERVICES OF ESTATE MANAGEMENT AND VALUATION, OR
ESTATE SURVEYING AND VALUATION

4
Valuation
Property and Facilities Management
Estate Agency
Compulsory Acquisition and Compensation
Property Development/Project Management
Arbitration, Conciliation Consultancy and Expert Witness
Land information system and Land Administration
Environmental Consultancy
Plant and Machinery
Rural Estate Management Practice

However, where there are up to five or more partners, it is possible to practice in all the ten
faculties efficiently.

The common departments in Estate firms include:

Valuation,
Estate Agency
Property and Facilities Management; and
Compulsory Acquisition and Compensation
Administration and Accounts

J. AJAYI PATUNOLA & CO.

 PROPERTIES THAT REQUIRES PROFESSIONALS
5

Commercial Properties
The term commercial property in its broadest definition encompasses
all estate development that is not exclusively residential and typically
refers to properties where a commercial activity takes place.

Residential Properties
Residential properties are those in which people live, either as rental
tenants or as owners. Residential properties generally are defined by
the type of ownership, the type of financing, and the types of tenants
and residents

J. AJAYI PATUNOLA & CO.

 EMPLOYMENT OPPORTUNITIES FOR GRADUATES

Public Sectors Where Valuers Work

Private Organizations
Multinational Companies
Institution of Higher Learning

J. AJAYI PATUNOLA & CO.

 POSSIBLE JOB TITLES OF REAL ESTATE GRADUATES

Associate Property Manager

Commercial Real Estate Agent
Residential Real Estate Agent
Industrial Real Estate Agent
Rural Real Estate Agent
Construction Project Manager
Real Estate Investment Analyst
Leasing Associates
Project Manager
Property Manager
Real Estate Agent
Real Estate Developer
Real Estate Research Analyst

J. AJAYI PATUNOLA & CO.

 PURSUING BEST PRACTICE
8

Continuous Professional Development

Ethics
Membership of Other Member Bodies
Drawing of Tall and Workable Plans

J. AJAYI PATUNOLA & CO.

 CONCLUSION

9
In order to build a successful career in Estate Surveying and Valuation, one must have a strong
interest and knowledge of the real estate market, confidence, a well thought out plan (career
path, reasons for steps), knowledge of potential firms, marketing and financial skills combined
and strong communication and presentation skills. It is however important to understand that
the work performed by Estate Surveyors and Valuers varies greatly depending on the position
they hold, the type of organization or company they work for, and the type of real estate they
manage. The role of Real Estate Surveyors today extends considerably beyond the traditional
scope of rent collections and building maintenance. It has become far more sophisticated and far
more complex. Surveyors must provide sophisticated financial reports to owners, develop
emergency procedures to protect people and property, know and comply with changing
governmental regulations, and understand new lease provisions and terms. Real estate managers
must learn to operate in an environment of change characterized by shifting demographics,
emerging technologies, and heightened economic pressures.

Let me at this juncture ask everyone this question are you now set to go on for the best in your
academic, employment, practice, and life? Your certificate will dictate where you can work, and
the class or level of your operation. Your professional qualifications will launch you to a
respectable, mature and confident level. Finally, prepare yourself for employment, and believe
you will be gainfully employed, remember no room for lazy and figure head staff in this
contemporary world.

J. AJAYI PATUNOLA & CO.

 THANK YOU FOR LISTENING

J. AJAYI PATUNOLA & CO. 10