Effect of Compliance with Valuation Standards and Awareness on Property Value Certification among Estate Surveying Firms in Abuja, Nigeria

Musa, Mercy and Ufere, Kalu Joseph and Iroaganachi, Nneoma (2024) Effect of Compliance with Valuation Standards and Awareness on Property Value Certification among Estate Surveying Firms in Abuja, Nigeria. International Journal of Civil Engineering, Construction and Estate Management, 12 (2). pp. 88-99. ISSN 2055-6578(Print), 2055-6586(online)

Text
Effect of Compliance.pdf - Published Version
Restricted to Registered users only
Available under License Creative Commons Attribution Non-commercial No Derivatives.
Download (652kB) | Request a copy

Official URL: https://eajournals.org/

Abstract

The quest for reliability and consistency in real estate valuations services prompted the use of valuation standards. The extent of compliance with this valuations standards by property appraisers is a matter due for worthy consideration. This study aims to examine the effect awareness of valuation standards and compliance has on property value certification. The target population comprises registered Estate Surveying firms who are in private practice in Abuja, Nigeria. The sampling frame is 171 registered firm. The sample size of 118 was adopted. The reliability of the study data was measured using Cronbach’s Alpha test which showed that valuers’ awareness and compliance to valuation standards, and property value certification variables with 5, 3, and 7 measuring constructs respectively, were reliable with value above 0.70. The findings of the study show that awareness has a mean score of 3.4392 which is high with the 5-point likert scale, likewise, appraisers’ level of compliance is high, with a mean score of 3.7017, also property value certification showed a mean value of 3.9766. In examining the effect of valuation awareness and compliance on Property value certification multiple regression analysis was employed and the variables explained 57.4% of the model; which implies that awareness and compliance were responsible for 57.4% of the variation in property value certification. The effect of awareness and compliance on the certification of property values; the ANOVA analysis showed that awareness and compliance has a significant positive effect on property value certification, while awareness to valuation standards has a 26.9% effect, compliance with standards has a higher effect of 57.6%. Therefore the study concludes that while awareness and compliance both have significant positive effect on property value certification, compliance to valuation standards has a greater effect on real estate property value certification.

Item Type:	Article
Subjects:	T Technology > TH Building construction
Depositing User:	Professor Mark T. Owen
Date Deposited:	27 Sep 2024 16:14
Last Modified:	27 Sep 2024 16:14
URI:	https://tudr.org/id/eprint/3419

Actions (login required)

: View Item

UNSPECIFIED UNSPECIFIED

CORE (COnnecting REpositories)