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Importance of Valuation Standards: Ensuring Integrity in your property.

In an industry full of complexities like real estate, the term “value” is often misconstrued as price tag. When you require a valuation for property acquisition, disposal of property, insurance purposes, mortgage purposes, financial reporting, corporate restructuring, or asset divestment, the accuracy of that figure determines the success of your financial decisions. At Jesuseun Kayode Consulting, we perform every valuation assignment under the strict guideline of the Nigeria Valuation Standards (NVS)-commonly referred to in our industry as “The Green Book”.

What do we mean by Nigeria Valuation Standards?

The Nigeria Valuation Standards, issued by the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON), provide a unified framework for the practice of valuation in Nigeria.  Before these standards were introduced and fully harmonized for the Nigerian markets, different valuers tend to approach the same property with varying methodologies, resulting to inconsistent outcomes. Since the introduction of these Standards, it ensures that every Registered Estate Surveyor and Valuer (RSV) follows a rigorous, internationally accepted methodology to arrive at a professional opinion of value.

Here are the reasons compliance with the valuation standard protects you.

Whether as a property owners or real estate investors, compliance with theses standards is beyond professional etiquette; it is your greatest protection. Here is why:

1.   Market Confidence: Any valuation conducted in accordance with the Nigeria Valuation Standards (NVS) are accepted by financial institutions, regulatory bodies and courts. They enhance the level of confidence clients have in valuation report competently prepared by a registered estate surveyor and valuer adopting the industry best practices that the “Market Value” for example stated in such report is a true reflection of reality, not a subjective opinion.

2.   Accuracy and Transparency: It is mandatory to disclose the assumptions, limitations and other vital components to promote accuracy and transparency in the valuation assignment as required by the standards. When you receive a valuation report from our firm, you are not just getting an artificial number; you are getting an extensive analysis of the property’s condition, economic potential, market risks and others details necessary couple with the adoption of globally accepted standards.

3.   Professional Accountability: By strictly following the Estate Surveyors and Valuers Registration Board of Nigeria’s (ESVARBON) code of ethics and practice guidelines, we ensure that valuation reports are objective, independent and free from conflicts of interest. You can always hold us accountable for every valuation engagement delivered to you if the need be.

Our Commitment

As Registered Estate Surveyors and Valuers, we are mandated to maintain professional competency through continuous training. We don’t just “estimate” values by looking at the property at a go; we identify, collate, analyze, calculate and decide using data-backed techniques that align with current economic realities and standards before we arrive at a professional opinion of value.

When you entrust us with your property or asset for valuation purpose, you are not just getting a document-you are getting a valuation report backed by professional standards, legal rigor and the expertise required to navigate the Nigerian real estate market transactions with confidence.

Do you need a valuation report for your property or assets? Contact us today to discuss about your requirements?