Comply with ethical standard, expert tasks estate agents

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ESV. Eniwaiye John at the occasion.

By Correspondent in Lokoja.

The Honorary Publicity Secretary, Nigerian Institution of Estate Surveyors and Valuers (NIESV), Kogi State Branch, ESV. Eniwaiye John, has called on estate agents in the country to inculcate the ethical principles in practice of estate agency.

Eniwaiye made the call at the weekend at a One-day training and capacity building for the Association of Estate Agents in Nigeria (AEAN) Kogi State Chapter.

Dlivering his lecture, entitled, “ethics of estate agency practice”, Eniwaiye said Estate agency practice, which is one of the professional services of Estate surveying and valuation, require adequate knowledge and continuing capacity development.

According to him, inculcating ethical principles in the practice of estate agency becomes imperative, to better and foster a good tie and promote interest of clients’ representation and interpersonal relationship in the field of estate agency practice.

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He highlighted some of the basic ethical principles for practitioners in discharging their duties to include honesty, fairness, integrity, accountability, confidentiality, respect for law, responsibility, transparency/objectivity, compassion, loyalty, environmental concern and leadership.

“Estate agents, therefore, have a duty to uphold and protect the interest of the clients’ by ensuring they maintain the highest standards of ethical conduct in achieving both clients’ and their personal/corporate goals, following several laws which govern the zoning/permitting and related matters concerning the use and development of land at both the federal and state levels” he said.

While emphasizing on the necessity of ethics in real estate practice, Eniwaiye, however outlined some of the challenges facing estate agents to include; lack of regulations that allowes ease of entry and exit into the practice/business and setting up monitoring mechanism to checkmate activities of members since the agency is known to be “all comers’ affairs”.

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Other,he added, are poor record keeping; lack of separate account for clients’ fund, members failure to be ethical in the practice leading to lack of technical know-how in real estate transactions giving room for misrepresentation; amongst others.

The Estate expert recommended that, practitioners in the profession should ensure service and ethical climates that operate intandem to guide service and ethical behaviours among employees without supervision.

Eniwaiye said, “Service excellence, if poorly planned, promotes insufficient condition for good success.

” Business owners should take corrective actions before unethical behaviours occur by periodically measuring employees’ perceptions of the company’s ethical climate.

“Service and ethical behaviours are most essential within turbulent or competitive markets, with competitive intensity being the most important.

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“Estate agents/surveyors are expected to develop themselves continually in other to fit into real estate practice proper through ethical principles as it concerns employees, clients, society, the environment, shareholders and stakeholders.

“Total compliance to developing and exhibiting ethical standard in real estate industry and service delivery will forestall ethical model and practices that will eradicate misconducts, sharp practices, in compliances to governing laws, irregularity or embezzlements of clients’ fund.

The expert also his colleagues to shun impersonation into other registered professions to guide members/employees in their actions and ensure they prioritize the interests and welfare of the association and the body of AEAN members represented in real estate industry.

Edited by Dada Ahmed.

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