Timothy Tunde Oladokun

Students’ perception of the relevance of work experience scheme to real estate education in Nigeria

Purpose – The purpose of this paper is to evaluate the relevance of students industrial work experience scheme (SIWES) to real estate education in Nigeria. Design/methodology/approach – Primary data were collected with the aid of questionnaire served on 182 parts 3 and 4 students of Estate Management and Valuation, Obafemi Awolowo University, Ile Ife, Nigeria. The descriptive methods of mean and proportion method were used to determine the factors that are considered could contribute to real estate education in Nigeria. Findings – The result shows that SIWES is an integral part of real estate education and that it helps the students to acquire behavioural skills in addition to acquiring necessary experience required to set up private practice upon completion. Research limitations/implications – Obtaining the perception of students alone could make the findings one sided and bias. Further detailed research targeted at the employers of labour will provide a balanced view. Also, extending further studies to ...

Incursion of non‐professionals into property management practice in Nigeria

Purpose – The paper seeks to identify the factors that are responsible for the incursion of non‐professionals, otherwise called quacks, into property management practice in Nigeria.Design/methodology/approach – Primary data were collected with the aid of questionnaires served on 270 estate surveying firms based in the study area. The proportion method was used to determine the factors that are significantly responsible for the daily incursion of non‐professionals whose activities have negatively affected real estate investment in the country.Findings – The result shows that the high income derivable from property management practice is a major factor. Other factors in their perceived order of importance include provision of unsatisfactory and less than standard service by estate surveyors, lack of confidence by clients on the estate surveyor to evict erring tenants and shortage of qualified personnel.Research limitations/implications – Obtaining the perception of practitioners could subject the findings o...

Corporate site selection and acquisition in a Nigerian GSM communication company

Purpose – The purpose of this paper is to document the corporate site selection and acquisition process in a Nigerian global system for mobile (GSM) communication company, using a case study approach.Design/methodology/approach – The study integrates a literature review and a case study. The researcher made use of semi‐structured interviews to obtain information about the process of site selection and acquisition from the personnel of the property management department (property managers/SAQ managers) of the studied organisation. Beside the interviews, there was a series of follow‐ups for further clarification through telephone conversation and e‐mail. On average, the interview took about 45 minutes with each respondent, aside from prior occasional discussions undertaken to obtain some data.Findings – Data obtained indicated that the process of site acquisition follows the global trend of outsourcing of non‐core services by organizations to consultants who have the technical ability to handle such assignm...

Factors influencing real estate students’ academic performance in an emerging economy: Gender and socioeconomic perspectives

Purpose The purpose of this paper is to examine the extent to which variations in gender, socioeconomic and academic background influence real estate students’ academic performance in Nigeria. Design/methodology/approach Data for the study were collected using self-administered questionnaire, served on final year real estate students in two of the three Federal universities offering real estate as a course in Southwestern Nigeria. Data collected were analyzed using mean, frequency count, percentages, independent t-test, correlation and analysis of variance. Findings The result of the study suggests there is no statistically significant difference in the academic performance of Nigerian real estate students based on gender and socioeconomic background. Research limitations/implications The study has been limited to the sensitivity of either gender to possibly constraining socioeconomic and academic factors that might have served as barriers, especially among female students, in achieving outstanding academic performance. Originality/value This paper presents one of the few attempts examining gender and socioeconomic perspectives to factors influencing real estate students’ academic performance, especially from the perception of an emerging African country like Nigeria.

Corporate real estate strategies: the Nigerian experience

Purpose – The paper aims to contribute to the empirically scarce literature on corporate real estate management (CREM) strategies by providing meaningful insights on the different strategies likely to contribute to business performance in a developing country like Nigeria. Design/methodology/approach – Primary data collected using questionnaire administered on property managers of the 105 business organisations in the list of registered companies with the Nigerian Stock Exchange were used for the study. The questionnaire elicited information on the real estate holding pattern and the adopted strategies for acquiring and managing real estate assets. The data collected were analysed using percentages, mean and proportion method. Findings – The study established that 41 per cent of the organisations were public organisations. Others were private companies (31 per cent), government departments (18 per cent) and multi-nationals (10 per cent). The result indicated that 31.8 per cent had no CREM strategy. Strate...

Bridging skill gap in real estate education in Nigeria

Abstract Purpose: The importance of education is always underscored without adequate demonstration of skill(s) for practice. Appropriate professional skills guarantees efficient real estate investment decision making and prevents loss of investment fund. The study evaluated, from the perspective of employers of labour, the effort of the government, through students, industrial scheme, at bridging skill gaps in real estate education in Nigeria. Design Methodology/approach: Primary data were collected with the aid of questionnaire served on 270 estate surveying and valuation firms in Lagos state, Nigeria. The descriptive methods of mean and proportion method were used to determine the contribution of government industrial scheme to real estate education in Nigeria. Findings: The result found that through the student industrial scheme, students acquired experience/skill in real estate marketing as well as the art of team work. Originality/Value: The paper is to serve as impetus to policy makers to enhancing the quality of real estate in Nigeria. It will also serve as proof to foreign investors of the quality of Nigerian real estate practitioners to give them efficient service.

External factors critical to success in the business of estate surveying firms in Lagos State, Nigeria

This paper aims to identify external factors that are critical to the success of estate surveying business in Lagos State, Nigeria.,Primary data were collected with the aid of questionnaires from estate surveying firms in the study area. Using a sampling interval computed as 1.93-2, 186 firms were selected from the 359 estate surveying firms based in the study area. The sampling interval required that, after the first selection, every subsequent second estate firm in the group (List) was selected for the survey. Data collected were analysed with the aid of criticality assessment index method such as the Relative Criticality Index and Criterion Criticality Score.,The result showed that it was critical for an estate surveying to interdepend with surrounding businesses and maintain good corporate social responsibility for it to succeed. Also, good social relations of the practitioners with the society was found to be an external factor critical to success. In addition, the study found the need to use the advantage of ICT for real estate marketing as an external technological factor for success. It was also found that the economic situation of the immediate locality of the firm and the economic buoyancy of the nation at large influenced both the planning for and the execution of real estate activities of the firm.,Limiting the findings of the study to external factors alone could subject the findings of the study to bias. Further research targeted at identifying internal factors will provide a balanced view.,The study will serve as useful tools for existing and upcoming real estate practitioners to chart a performance course for their businesses. It will help estate surveyors to understand what to place more emphasis on if they will succeed in business.,The findings from this study will provide the estate surveyors and valuers and the professional body with data on things that are critical to their success in business and enhance the practice of real estate management.

Factors influencing academic performance of real estate students in Nigeria

Purpose: The purpose of this paper is to examine the factors affecting academic performance of real estate students in a developing country like Nigeria. Design/methodology/approach: Data for the study were collected with the aid of questionnaire served on 152 final year real estate students of Obafemi Awolowo University, Ile-Ife and Federal University of Technology Akure, in southwestern Nigeria. Data collected were analysed using descriptive and inferential statistics. Findings: Findings show that the factors relating to academic assessment, parent/family background and teaching methods or techniques have more impact on students’ academic performance, while school and general academic environment had less influence on students’ academic performance. Research limitations/implications: The study complements the body of knowledge regarding the factors influencing real estate students’ academic performance from the point of view of an emerging economy where issues of socioeconomic, academic and training perspectives differ from what obtains in advanced economies. Originality/value: This study is one of the few attempts at establishing factors that influence real estate students’ performance, especially from an emerging economy like Nigeria.

Dispute resolution in corporate multi-tenanted property management: a case study

Purpose – This study aims to evaluate the practice of dispute resolution in Lagos International Trade Fair Complex, Lagos State. Design/methodology/approach – Questionnaires were distributed to two study groups of 400 users/occupiers and officials of the managing agents. A total of 100 were returned and found useable for the study. The study adopted the descriptive method of percentages, mean and proportion method for analysis. Findings – The study found that there often existed disputes and when it occurs, the common reaction is for them to alert other users of the building. Other findings are that the methods of dispute resolution adopted are arbitration, mediation, conciliation and litigation and that the most commonly adopted method is arbitration. Research limitations/implications – Limiting the scope of the study to the perception of the respondents could reflect an element of bias and might pose a great challenge to the representativeness of the findings. Also, the use of closed question questionna...

Corporate governance and real estate assets management in Nigerian banks

Purpose – This paper aims to evaluate the strategies adopted by Nigerian banks to integrate the management of their real estate assets into the overall business objectives.Design/methodology/approach – Questionnaires were distributed to the corporate real estate managers of the 24 recapitalised banks in the country and supplemented with interview. The study adopted the descriptive method of percentages, mean and proportion methods for analysis.Findings – The study found that Nigerian banks have distinct real estate units that manage their substantial real estate holdings, which they revalue at the open market basis every six months. The study also found that in spite of the fact that Nigerian banks have substantial real estate holdings, employees of the real estate unit spend more time on the core business of the organisations than on real estate activities. While some of them have sole responsibility for real estate activities, others are gradually shifting attention to the importance of their real estat...