By Iwuba Ifediora
Real estate is one of society’s most valuable assets. It shapes economies, defines communities, and provides the physical framework for human life.
Yet, in Nigeria and many developing economies, confidence in property transactions remains fragile. Stories of multiple sales, fraudulent listings, and exploitative intermediaries dominate headlines.
At the same time, technology is transforming how property is marketed, valued, and transacted, as well as how KYC information, client profiles, and processes are vetted. PropTech platforms, artificial intelligence, blockchain-based land registries, and virtual inspections are reshaping the global property market. These tools promise efficiency, access, and transparency.
But technology alone cannot guarantee trust. Without ethical oversight, digital innovation can easily become a weapon in the hands of fraudsters. This is where the professional role of the Estate Surveyor and Valuer becomes critical.
Our mandate has always been to supervise and direct interests in land and landed property for the benefit of clients and society.
Today, that mandate requires a renewed focus: combining technology with ethics to reposition Agency practice for genuine transparency.
The public challenge: quackery in agency
In Nigeria, the word “agent” often conjures images of untrained middlemen operating without accountability. Many of these individuals masquerade as property professionals but rely on guesswork and shortcuts. They thrive in the gaps between regulation and enforcement, exploiting landlords, tenants, and investors alike.
Their methods are well known: multiple claims on a single property, lack of professionalism, tact, privacy and general unruliness in transactions, forged title documents, or collecting rent and disappearing.
These practices erode public trust, damage market credibility, and undermine the profession of Estate Surveying and Valuation.
For the public, “agency” has become synonymous with quackery, not professionalism. For Estate Surveyors and Valuers, the challenge is twofold: to perform with excellence and to reclaim the word “Agency” by restoring its professional meaning.
The promise of technology
The digital era has introduced tools that can redefine Agency practice:
- Multiple Listing Services (MLS): Widening exposure, ensuring fair competition, and promoting transparent pricing.
- Online Marketplaces: Making immovable property accessible to global buyers and tenants.
- Blockchain Land Registries: Offering tamper-proof verification of ownership and title.
- Artificial Intelligence Models: Generating predictive property valuations using big data.
- Virtual Tours, Drones, and Photography: Providing immersive property inspections and marketing from anywhere.
These innovations promise speed, access, and accuracy—qualities long demanded by clients. In theory, they can reduce fraud by making information widely available. Yet without ethical oversight, technology cannot solve the trust deficit. Fake listings are uploaded as easily as genuine ones, digital payments can vanish into untraceable wallets, and algorithms can be manipulated to distort values.
The ethics gap
Technology creates efficiency, but it cannot create integrity. This is the gap only professionals can fill.
Estate Surveyors and Valuers operate under the codes of the Nigerian Institution of Estate Surveyors and Valuers (NIESV) and the oversight of the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON). These frameworks demand honesty, fairness, disclosure, accountability, and devotion to client interest.
By applying technology within these ethical boundaries, professionals create transparency that quacks cannot replicate. A professional does not simply post a listing—they verify ownership, inspect the property, and confirm legal compliance.
They do not merely run an AI model—they interpret results with expertise and in line with valuation standards. They do not just arrange viewings—they ensure fairness and equity for all parties involved.
Technology + ethics = transparency
The future of Agency practice lies in fusing technological innovation with professional ethics:
- Verified Listings: Online adverts should only be authenticated by professionals, eliminating fakes and protecting the public.
- Blockchain with Oversight: Registries achieve trust only when professionals verify compliance with land laws and regulations.
- AI with Human Judgment: Algorithms provide speed, but professionals provide context—neighborhood nuances, development trends, and market realities.
- Virtual Tours with Due Diligence: Digital inspections create convenience, but they must be backed by physical verification.
When combined in this way, technology amplifies professional service rather than undermines it.
Global standards, local realities
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Globally, real estate bodies such as the Royal Institution of Chartered Surveyors (RICS) and the International Valuation Standards Council (IVSC) emphasise transparency, disclosure, and accountability in Agency practice. Nigerian professionals, through NIESV, are aligned with these standards.
However, the local reality is challenging: quackery is rampant, public awareness of professional distinctions is low, and enforcement is weak. Many Nigerians enter property transactions without professional protection, leaving them vulnerable.
This creates a leadership responsibility for Members: to advocate publicly, educate clients, and assert that Agency is a professional service that only Estate Surveyors and Valuers can offer at best.
Beyond financial returns: creating broader value
Agency should never be seen as a mere commission-driven activity. Done professionally, it delivers multiple layers of value:
- For landlords: secure rental income, fraud prevention, and asset protection.
- For tenants: fair representation, legal assurance, and protection from exploitation.
- For investors: reliable due diligence, transparent pricing, and long-term insights.
- For society: a trusted property market that promotes stability, economic growth, and sustainable development.
These outcomes align with the profession’s definition: returns from land and property need not be purely financial—they can be social, environmental, and cultural as well.
Repositioning agency fot the future
For Nigeria’s real estate sector to thrive, three actions are critical:
- Digital Adoption: Estate Surveyors and Valuers must actively integrate MLS, data-driven AI valuation, blockchain, and virtual platforms into practice. These are no longer optional extras—they are the new standards.
- Ethics as Anchor: Technology must be governed by professional codes to ensure fairness, accuracy, and accountability in every transaction.
- Public Advocacy: Professionals and their institutions must lead campaigns to educate society about the dangers of quackery and the necessity of professional Agency.
Conclusion
Technology is rewriting the rules of Agency practice, but tools alone cannot build trust. Quacks may misuse PropTech, but they cannot replicate the professional integrity of Estate Surveyors and Valuers. The profession must therefore position itself as the bridge between innovation and accountability.
By combining technology with ethics, Agency practice can be transformed into an accessible, transparent, professional service that secures not just financial returns but also confidence, fairness, and long-term value.
The call to members is clear: embrace innovation, defend ethics, and reclaim Agency as a professional cornerstone of Estate Surveying and Valuation. In doing so, we will not be seen as mere intermediaries, but as value creators safeguarding trust, transparency, and sustainability in Nigeria’s property market.
- Ifediora (Mnivs Rsv), an Estate Surveyor and Valuer, writes from Enugu