Empirical Verification of the Clients' Perception of the Adequacy of the Valuation Reports of Nigerian Valuers
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Society of Business and Social Sciences
Abstract
Description
The issue of professional valuation standards and quality of valuation reports has been
subject of intensive debate at both local and international/eve/ in recent years. Studies
on the subject of clients' perception of the quality of valuation reports have been
extensively carried out in countries like UK, Australia and the US. However, the topic has
not received much attention in most developing countries such as Nigeria. The purpose
of this paper is to ascertain the perception of the clients who are the users of the
valuation reports concerning the quality of valuations reports emanating from Nigerian
Valuers. The survey was carried out with a view to addressing such issues regarding the
quality of valuation reports with the intention of ascertaining the level of the clients
satisfaction with the quality of valuations reports being given them by their professional
valuers and to further identify the strengths/ weaknesses of the reports and make
necessary suggestions for improvement if the views of clients suggest so. To achieve the
objective of the study twenty four commercial banks and fifty property companies
randomly selected were sampled in Lagos metropolis. Data collected were analyzed
using descriptive statistical tools. The study revealed serious concern regarding the
quality of valuation reports in Nigeria and necessary recommendations for addressing
the identified problems were preferred.
Keywords
HD Industries. Land use. Labor, TA Engineering (General). Civil engineering (General), TH Building construction