NIESV Discusses Prospects, Challenges of International Competition in Real Estate Business

Estate Agency and Marketing Business Division of the Nigerian Institution of Estate Surveyors and Valuers (NIESV) recently brainstormed on the prospects and challenges of international competition in the business of real estate.

The Chairman, ESV. Sam Eboigbe stated that the professional practice has been hijacked and the Faculty (NIESV) is to rise to this challenge and proffer immediate solutions.

He stated that Estate Agency practiced is seen as everybody’s business but it is of good note that even lawyers have no business in it.

The first speaker, Engr. Olumide Olayinka, Partner KPMG, talked on why foreign firms are preferred to the local or indigenous ones.

Olayinka stated that foreign companies are mostly preferred because they provide valuable services without putting money first.

For indigenous company to do very well, they must understand the business; be strategic; and, be empowered, he said.

ESV Bode Adediji discussed the DNA of International Com- petition, where he stated that Nigeria’s real estate business and the Professional Practitioners are currently challenged by: Recession; Retrogression; Marginalization; Image.

Others include, Poverty; Ignorance & Complacency; Institutional Deficiency; Local & International Competition, he said.

International Competition is a real issue of concern and challenge in many countries of the world and cut across many sectors and disciplines. We therefore need to define “why are we here for this seminar? he said.